The U.S. Psychiatry Clinic Market size is expected to reach USD 34.1 billion by 2030, based on a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.1% from 2022 to 2030. Increased prevalence of mental illness in the U.S resulting in higher demand for psychiatric services is the key factor driving the market.
As
per the Anxiety & Depression Association of America, nearly 18% of the U.S.
population has anxiety disorders. Around 41% of the U.S. population has mental
disorders in 2020 according to the latest research report published by Kaiser
Family Foundation (KFF). There is high unmet demand for mental health services
in the U.S. As per Mental Health America, more than 50% of youth having
depression & anxiety disorder have not received treatment. Moreover, 26% of
adults have been reported to have an unmet requirement for mental health
services
The
COVID-19 pandemic had a huge impact on the market. Psychiatric clinics faced a
huge revenue drop because of service restrictions & drop in occupancy as a
result spread of infection within the psychiatric clinics & hospitals. New
rules have been in place for these facilities with restrictions on staff,
occupancy & visitors. Telepsychiatry services by psychiatric clinics during
pandemic is providing great accessibility to the treatment. Telepsychiatry is expected to play a crucial role
post-pandemic as well helping in effective managing the high demand. The market
has a huge scope with the technological growth & attention towards mental
health as a priority by the government.
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summary: U.S. Psychiatry Clinic Market Report
U.S.
Psychiatry Clinic Market Report Highlights
- In terms of
age group, the adult segment dominated the U.S. psychiatry clinic in 2021
as a result of the high disease prevalence of mental illness in the adult
population.
- The market is
witnessing higher demand because of favorable insurance coverage making
the treatment affordable to patients and the rising disease prevalence.
- Collaborations
and facility expansion are the key strategic initiatives undertaken by
psychiatric clinics to gain market share. For Instance, in March 2021,
Acadia Healthcare partnered with Geisinger Health for building new
behavioral health facilities in Pennsylvania.
U.S.
Psychiatry Clinic Market Segmentation
Grand
View Research has segmented the U.S. psychiatry clinic market on the basis of
age group:
Age
Group Outlook (Revenue, USD Billion, 2016 - 2030)
- Adult
- Pediatrics
List
of Key Players in the U.S. Psychiatry Clinic Market
- Universal
Health Services
- Langley
Porter Psychiatric Hospital (LPPH)
- Bellevue
Hospital
- Manhattan
Psychiatric Center
- Menninger
Clinic
- Tucker
Psychiatric Clinic
- Acadia
Healthcare
- USCF Health
- Peninsula
Behavioral health
- Mayo Clinic
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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Grand View Research, Inc
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Email: sales@grandviewresearch.com
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