The market is currently in a growth phase with rising number of participants as the demand-supply gap of these services is high in most of the regions. The dynamics is driving it toward being a consolidated market with significant number of mergers and acquisition observed in past few years. Major institutes are focused on regional expansions to provide outpatient services, which are preferred over other healthcare settings owing to cost benefits.
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Some of the major mergers and acquisitions have been observed in the U.S., including acquisition of adult service division of Cambian group PLC by Universal Health Services, Inc. and announcement of Acadia Healthcare Company, Inc. acquiring the U.K.-based Priory Group.
Further Key Findings from the Study Suggest:
- Higher prevalence of behavioral diseases associated with emotions & stress and rising awareness about the treatment options are factors driving the growth.
- Social acceptance of substance abuse patients and rising government initiatives directed toward countering the same is expected to drive this segment with the highest CAGR during the forecast period
- Outpatient segment dominated in 2015 as it is mostly preferred over the other healthcare settings
Affordability and high patient convenience are factors expected to fuel outpatient segment’s growth with the highest CAGR during the forecast period
- North America dominated 2015 owing to factors such as availability of a large number of institutes and higher awareness levels
- Europe is expected to show the fastest growth rate during the forecast period with growing adoption of advanced technology in the behavioral healthcare industry, including record keeping software
- Few of the major players participating in the market are Acadia Healthcare; Magellan Health; Universal Health Services, Inc.; CRC Health; Psychiatric Solutions, Inc.; Behavioral Health Group; Springstone, Inc.; Haven Behavioral Healthcare, Inc.; and American Addiction Centers, Inc.
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