Better days: Industry demand will benefit from more individuals receiving preventive services
Rising awareness of mental health treatment's economic, personal and societal benefits has supported behavioral therapists in recent years. According to the Substance Abuse and Mental Health Administration, one in four adults suffers from a mental health condition. In recent years, destigmatizing mental health has encouraged more of these patients to find a behavioral therapist. Other healthcare providers are also increasingly valuing the role of a behavioral therapist in the patient's care journey. Many people with behavioral health conditions have coexisting physical conditions, incentivizing healthcare providers to integrate behavioral therapists to improve patient outcomes and lower costs. Behavioral therapists' growing role in traditional healthcare has been reflected more robustly in employer-sponsored health plans, facilitating access to therapy. A deepening mental health crisis has led revenue to expand at a CAGR of 8.2% over the past five years - including an estimated 1.1% increase in 2023 - when revenue will total an expected $11.0 billion.
The Behavioral Therapists industry includes health practitioners primarily engaged in the independent practice of psychotherapy designed to eliminate undesired behaviors.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.
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