22 Nov Healthcare Industry Update – Q3 2019
The behavioral health industry focuses on treating people with a variety of conditions including anxiety, ADHD, bipolar disorders, eating disorders, PTSD and substance abuse disorders. The market for mental health and substance abuse treatment is expected to reach $23 billion in 2019 and is projected to grow 7% per year through 2024.
Despite the expanding market, there is still a significant clinical unmet need as many potential beneficiaries do not seek treatment, cannot afford it, or treatment options are limited. At the same time, the worsening opioid crisis, the continued de-stigmatization of mental illness and the enhanced focus on behavioral health from Capitol Hill has increased the number of people who are seeking and receiving treatment. That trend is likely to continue as payers and providers shift their focus to treating the whole patient, including mental health, as part of the overall continuum of care.
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