New York, January 5, 2022 (GLOBE NEWSWIRE) – Reportlinker.com Announces the Publication of the “US Psychiatric Clinics Market Size, Share and Trend Analysis Report by Age Group and Segment Forecast , 2021 – 2028 ”- https: / /www.reportlinker.com/p06195320/?utm_source=GNW
The market size of psychiatric clinics in the United States is expected to reach $ 31.2 billion by 2028. It is expected to increase at a CAGR of 3.90% from 2021 to 2028. The increased prevalence of various mental illnesses in the United States United driving higher demand for psychiatric services is the key factor driving the market. According to the Anxiety & Depression Association of America, nearly 18% of the American population suffers from anxiety disorders. According to the latest research report published by the Kaiser Family Foundation (KFF), in 2020, approximately 41% of the American population suffered from mental disorders. There is a strong unmet demand for mental health services in the United States. According to Mental Health America, more than 50% of young people with depression and anxiety disorders have not received treatment. In addition, 26% of adults have an unmet need for mental health services.
The COVID-19 pandemic has had a huge impact on the market. Psychiatric clinics have faced huge declines in revenue due to service restrictions and lower occupancy rates due to the spread of infection within psychiatric clinics and hospitals.
New rules have been put in place for these establishments with restrictions on staff, occupancy and visitors. The telepsychiatry services provided by psychiatric clinics during the pandemic have made treatment more accessible.
Telepsychiatry will also play a crucial role after the pandemic; help manage the high demand effectively. The market has a huge reach with technological growth and the attention given to mental health as a priority by the government.
Highlights of the United States Psychiatric Clinics Market Report
• In 2020, the adult segment dominated the market due to the high prevalence of mental illnesses in the adult population of the country.
• The market is experiencing higher demand due to favorable insurance coverage making treatment affordable for patients and the increasing prevalence of the disease.
• Collaborations and facility expansion are the main strategic initiatives undertaken by psychiatric clinics to gain higher market share
• For example, in March 2021 Acadia Healthcare partnered with Geisinger Health to build new behavioral health facilities in Pennsylvania
• The COVID-19 pandemic has increased the prevalence of the disease in the United States According to the National Council of Mental Wellbeing, one in six children and adolescents aged 6 to 17 and 40% of the adult population have reported health problems. mental health in 2020
Read the full report: https://www.reportlinker.com/p06195320/?utm_source=GNW
ReportLinker is an award winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.