The report titled, “Behavioral Therapy Market- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016-2023” by Transparency Market Research sheds light on the key trends, growth opportunities, catalysts, and deterrents of the market, along with key figures, charts, and relevant statistical data.
Behavioral therapy is an umbrella term for the various types of therapies aimed at treating mental disorders. Behavioral therapy lays emphasis on creating consciousness in the mind of an individual about how changes in his/her behavior can bring about changes in feelings. The therapy focuses on the eradication of maladaptive and unwanted behavior via engagement in positive reinforcing activities.
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As the incidence of behavioral issues and mental health conditions such as anxiety, depression, phobias, addictions, and obsessive-compulsive disorder (OCD) augments across the world, the global market for behavioral therapy is gaining significant impetus. Depression has surfaced as a key culprit necessitating the adoption of behavioral therapy. The changing work culture over the world has been triggering stress, anxiety, and depression. According to the findings of the U.S. National Institute of Mental Health, anxiety disorders form the most common type of mental illness in the U.S., affecting around 18% of the population or 40 million adults aged 18 and older.
These disorders not only affect the mental health of an individual, but also lead to physical health conditions such as irritable bowel syndrome (IBS), chronic pain, eating disorders, sleep disorders, fibromyalgia, bipolar disorder, headaches, and substance abuse, to name a few. Therefore, the co-occurrence of these conditions will promote more demand for behavioral therapy over the globe.
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On the other hand, lower degree of awareness about mental health, the prevalence of social taboos pertaining to mental health conditions, and high costs of behavioral therapies might restrict market growth. However, significant opportunities are likely to surface as the popularity of dialectical behavior therapy rises. Research reveals that the sets of behavioral skills such as distress tolerance, emotional regulation, mindfulness, and interpersonal effectiveness developed via dialectical therapy can help fight substance dependence, eating disorders, and post-traumatic stress disorder (PTSD).
Based on geography, the global market for behavioral therapy has been segmented into Western Europe, Eastern Europe, Latin America, North America, Japan, the Middle East and Africa, and Asia Pacific. North America and Europe appear to be dominating the global scenario, with countries such as the U.S., the U.K., and Germany driving the growth of the market.
The rising geriatric population in Asian countries is a prominent catalyst of the behavioral therapy market in Asia Pacific. The growing awareness about mental health, increasing availability of psychiatric treatments, and rising disposable incomes of the middle class are also accelerating the expansion of the market.