A report by Transparency Market Research, titled “Behavioral Therapy Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2023”, throws light on the contemporary and future conditions of the market. Between 2014 and 2020, the behavioral therapy market is projected to grow at a significant rate, particularly in Asia Pacific. Europe and North America together held the leading share in the global behavioral therapy market.
Behavioral therapy is an action oriented therapy, with an aim to replace negative behavior with a positive one. Cognitive behavior therapy, applied behavior analysis, and social learning theory are the three major branches of behavioral therapy. Out of these, cognitive behavior therapy is an increasingly popular segment. The market for behavioral therapy has been expanding as a consequence of the rising incidence of mental health conditions such as substance abuse, OCD (obsessive-compulsive disorder), depression, phobias, self-harm, anxiety disorders, anger control problems, eating disorders, and addiction among many others.
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The rising frequency of behavioral problems among people, larger disposable incomes of the patients, and increase in lifestyle-induced issues owing to work-related factors are a few of the many factors fuelling the growth of the behavioral therapy market. Funds for mental health treatment have been increasing due to a rise in mental health awareness. Aging people are more susceptible to mental illnesses and as a result, the rising aging population in Asia Pacific will help drive the market for behavioral therapy market in the region in the forecast period of 2014 to 2020.
On the other hand, the unavailability of approved drugs, high costs of therapies and services, lesser degree of mental health awareness among emerging economies, and decreasing popularity of chief drugs in the market are restraining the market for behavioral therapy.
The market is segmented geographically into Western Europe, Latin America, Asia Pacific, North America, Japan, Eastern Europe, and the Middle East and Africa. These are further divided into countries such as Canada, Mexico, U.S., Chile, Peru, Brazil, Germany, Belgium, Spain, U.K., Nordic countries, Netherlands, Italy, France, Belgium, New Zealand, Luxembourg, Russia, Japan, Poland, India, China, North Africa, ASEAN, Australia, Southern Africa, GCC, and the Middle East.
The report furnishes an in-depth analysis of the recent developments in the market, macroeconomic indicators, and strategies of the major players and services offered by them. The current, projected, and historical market size are discussed. The market covers categorization based on technology, application, and type. In the report, a complete background sketch of the global behavioral therapy market is laid down. The report describes the competitive landscape, the major stakeholders, value chain, supply and demand, and technological developments, together with recommendations for investors.
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