Behavioral Rehabilitation Market Growth and Key Players Overview
In 2022, the global behavioral rehabilitation market was valued at approximately USD 154.67 billion. Looking ahead, this market is expected to grow steadily, reaching around USD 221.33 billion by 2032, with an anticipated annual growth rate of 3.58% from 2023 to 2032. This growth reflects a rising demand for rehabilitation services, driven by an increased awareness of mental health and the importance of accessible care.
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Key Drivers of Growth in the Behavioral Rehabilitation Industry
The behavioral rehabilitation industry is experiencing growth due to a rising prevalence of behavioral disorders. Rapid urbanization and the impacts of technology, especially among young adults aged 16 to 25, have contributed to an increase in behavioral issues and addictions. The easy access to potentially harmful substances has been a major factor in this trend. Additionally, the widespread use of the internet has fueled addictions related to online activities like gaming, gambling, and even pornography. Together, these issues are creating a significant unmet need for treatment, which is expected to drive steady industry growth over the coming years.
At the same time, societal attitudes toward behavioral rehabilitation are evolving, which is boosting the industry’s global expansion. There is growing acceptance and understanding of behavioral disorders, making it easier for individuals to seek help for behavioral addictions. People are now more willing to openly discuss mental health challenges, leading to a greater demand for accessible and effective treatment options in behavioral rehabilitation.
Recent Key Developments in the Behavioral Rehabilitation Industry
In May 2022, the U.S. Department of Health and Human Services (HHS) introduced a funding opportunity worth nearly $15 million through a three-year federal grant. This grant supports the Substance Abuse and Mental Health Services Administration (SAMHSA) in enhancing behavioral health services for residents of nursing homes and other long-term care facilities.
Limbix, a company focused on digital mental health solutions, secured around $9 million in Series A funding in May 2020. The funding is aimed at developing digital therapeutic options to support young people struggling with depression.
Behavioral Health Group (BHG) expanded its reach in November 2020 with the acquisition of Wellness Ambulatory Care in Knoxville, Tennessee. This acquisition not only extended BHG’s geographic footprint but also broadened its service offerings in the behavioral health sector.
In June 2021, Acadia Healthcare launched a pilot program designed to reduce the risk of suicide among individuals receiving outpatient care for opioid use disorder. This program represents an innovative approach to addressing mental health needs within the substance abuse treatment framework.
In March 2018, UC San Francisco (UCSF) partnered with the City of San Francisco and other public and private organizations to open a new mental health facility. This center significantly increases the number of available beds for patients who require consistent mental health support but do not need the level of acute care provided by UCSF’s main facilities.
Leading Companies in the Behavioral Rehabilitation Market
- Allergan, Inc. – A prominent player in pharmaceuticals, Allergan offers products targeting a range of mental and behavioral health needs.
- Novartis AG – A global healthcare leader, Novartis contributes to the industry with innovative therapies that address psychiatric and behavioral disorders.
- Taro Pharmaceutical Industries – Specializing in pharmaceutical products, Taro plays a role in mental health treatment with accessible medication options.
- Perrigo Company plc – Known for its wide range of affordable healthcare products, Perrigo is making behavioral health treatments more accessible.
- Zynerba Pharmaceuticals – Focuses on transdermal treatments for neuropsychiatric disorders, developing new methods to improve mental health care.
- Apotex Inc. – A large pharmaceutical company with a commitment to producing affordable medications, including those for mental health.
- Sandoz AG – A subsidiary of Novartis, Sandoz is dedicated to high-quality generic medicines, including those for behavioral health.
- Strides Arcolab Ltd. – Operates in multiple markets, providing affordable pharmaceuticals that include mental health solutions.
- TOLMAR Pharmaceuticals, Inc. – Specializes in urology and oncology but also contributes treatments relevant to mental health.
- Limbix – A digital therapeutics company with a focus on youth mental health, pioneering digital treatments for conditions like depression.
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