The global behavioral health treatment market value is projected to grow at a compound annual growth rate of 2.9 percent through 2032, according to a report by Fact.MR, a global research and consulting company.
As rates of mental illness rise and awareness of the effects of mental health problems becomes more widespread, the demand for behavioral health services will increase, according to the "Behavioural Health Treatment Market Outlook," published in October by the company.
The report projected that home-based treatment services will be the No. 1 factor driving the financial growth of the market because of the effectiveness, affordability and ease of access to care that home-based care affords to patients and providers.
Here are the 10 companies predicted to be key players in the growing the market, according to the report:
1. Acadia Healthcare
2. CareTech Holdings
3. The Mentor Networ
4. Universal Health Services
5. Behavioral Health Network
6. North Range Behavioral Health
7. Strategic Behavioral Health
8. Ascension Seton
9. Pyramid Healthcare
10. Promises Behavioral Health
The value of the virtual psychiatric care market is expected to hit $7.65 billion by the end of this year.