The North America Behavioral Therapy market is growing at a significant rate owing to the increasing incidences of behavioral disorder. According to the World Health Organization (WHO), 450 million people are suffering from it. Behavioral therapy treatment is administered by a medical professional in order to replace bad habits with good ones and to help in the handling of tough situations. Behavioral therapy is also used to treat a variety of eating disorders, autism, substance misuse, and other conditions. Behavioral therapy does not include a single approach, but rather a variety of strategies that may be utilized to treat a person's psychological issues. It involves a variety of activities designed to help patients cope with certain situations such as anger, anxiety, pain, and others. North America Behavioral Therapy market size is forecast to reach $92.4 billion by 2026, growing at a CAGR of 4.0% during the forecast period 2021-2026
Behavioral therapy, is also known as psychotherapy, it helps in the treatment of the patient's self-destructive behaviour. It is also used to treat anxiety, bipolar disorder, obsessive compulsive disorder (OCD), and other diseases. According to National Institute of Mental Health, in U.S. approx. 17.3 million (7.1%) adults had at least one depressive episodes in 2017. Furthermore, rapidly changing life style and increasing work pressure which leads to increase in stress level among individual in this region. Anxiety disorders involves excessive amounts of anxiety, nervousness, fear, worry, or dread. They have an impact on people of all ages, including adults, children, and teenagers. There are several forms of anxiety disorders, each with its own set of symptoms. Symptoms of anxiety disorder includes restlessness, concentration difficulties, uncontrollable feelings of worry, sleep difficulties, such as problems in falling or staying asleep and many others. Cognitive behavioral therapy (CBT) is a psychosocial intervention helps to improve mental health. CBT is a type of short-term treatment that helps people find new ways to behave through altering their cognitive processes. CBT focuses on challenging and changing cognitive distortions and habits, increasing emotional control, and developing individualized coping skills for problem management. Cognitive behavioral therapy focuses on changing the habitual negative thoughts that can lead to and worsen emotional problems, sadness, and anxiety.
U.S. dominated the market share of the North America Behavioral Therapy Market in 2020 owing to the growing number of geriatric population coupled with increasing disposable income of the people in this region. According to Anxiety and Depression Association of America, Anxiety disorders are the most common mental illness in the United States, affecting 40 million adults aged 18 and up, or 18.1% of the population, each year. All these factors are set to avail new growth opportunities to the North America Behavioral Therapy Market in the region during 2021-2026.
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North America Behavioral Therapy Market Growth Drivers
Increasing Incidences of Obsessive Compulsive Disorder
Increasing incidences of obsessive compulsive disorder is increasing the growth of the market. Obsessive-compulsive disorder among adults in the U.S. has an estimated 12-month prevalence of 1.2 percent and an estimated lifetime prevalence of 2.3 percent. Males are more commonly affected in childhood. This has increased the attention of government for the purpose of improving mental health. Limited access to mental health care providers and lack of compensation is also set to hinder the growth of the market.
Increasing Awareness Regarding the Mental Health
Increasing awareness regarding the mental health is increasing the growth of the market. Government promotes positive mental health through school and community-based approaches that involves youth, families, school, and health care providers among others. Thus, increasing the growth of the North America Behavioral Therapy Market during the forecast period 2021-2026.
In May 2020, Zynerba Pharmaceuticals launched its Exploratory Open Label Phase 2 BRIGHT Trial of Zygel in Autism Spectrum Disorder (ASD).
The Major Players in this Market Include
The major companies in the North America Behavioral Therapy market include Universal Health Services Inc., People's Care Holdings Inc., Chicago Cognitive Behavioral Treatment Centre, LLC, Haven Behavioural Healthcare Inc., Acadia Healthcare, Magellan Health, Inc., Springstone, behaviour Frontiers, CBT California and Manhattan Center for Cognitive Behavioral Therapy among others.
Over the years, major market players have focused on different behavioral therapies that were typically used to treat various types of disorders. The launch of new market companies, adequate funding, and government-aided policies help in the development of surgical Instruments products. The continuous developments in the North America Behavioral Therapy market such as advanced technologies, increasing funding amount of startups and research organizations, and surge in the number of behavioral therapies are the major factors set to drive the North America Behavioral Therapy Market during the forecast period 2021-2026.
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