U.S. Psychiatry Clinic Market Trends, Drivers And Restraints By 2030

U.S. Psychiatry Clinic Industry Overview

The U.S. psychiatry clinic market size was valued at USD 23.9 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.1% from 2022 to 2030.

Growing prevalence of mental health disorders in the U.S., favourable insurance coverage, and rising demand for mental health services are likely to boost the market growth during the forecast period. Numerous people throughout the United States are feeling greater anxiety as a result of the COVID-19 outbreak. According to a National Mental Health Crisis survey conducted by The Harris Poll on behalf of the APA, nearly 78% agreed that the coronavirus pandemic is a significant source of stress in their lives, while 60% said the number of issues confronting America is overwhelming.According to American Medical Association April 2021 research, 13.6 % of Americans demonstrated indicators of serious psychological distress, up from 3.9 % in 2018. Medicare has a decent coverage for mental health treatment resulting in better affordability & accessibility to psychiatric services.

Gather more insights about the market drivers, restrains and growth of the U.S. Psychiatry Clinic Market

U.S. psychiatry clinic market size, by age group, 2020 - 2030 (USD Billion)

The social stigma towards mental health treatment in the U.S. is limiting the market adoption. Even people belonging to the educated higher class have the stigma about social take on taking mental health treatment and hence avoid treatment. The cost of psychiatric treatment is high and beyond affordable for many with Medicare coverage as well commercial insurance. Private insurance provides 10-15% less reimbursement for psychiatrists compared to Medicare insurance resulting in them avoiding such patients. The uninsured population faces the biggest challenge to afford the treatment and with the rise in the uninsured population since the start of COVID-19 pandemic, the situation is worse.  The increasing prevalence of mental health disorders in the U.S. is positively impacting the market. Around 51 million adults in the U.S. have mental issues as per the National Institute of Mental Health. The demand for mental health services in the U.S. is rising rapidly. This can be attributed to the growing prevalence of mental disorders in the U.S. & improving health reimbursement policies.

As per CDC a total of 56.8 million physician office visits in the U.S. were for mental & neurodevelopmental disorders. As per the National Institute of Mental Health (NIMH), in 2019, among the 51.5 million adults with AMI in the U.S., around 23.0 million (44.8%) received mental health services in the past year.

The advancement in technology and digitalization in the area of psychiatric care in recent years & during the pandemic will play a significant role. Telepsychiatry is trending with app-based psychiatric care & online therapy sessions. The accessibility to treatment is improving because of telepsychiatry. The psychiatry care in the U.S. will have great scope ahead with high disease prevalence, better accessibility to the treatment & the government making mental health a priority.

Browse through Grand View Research's Medical Devices Industry Research Reports.

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Market Share Insights

  • March 2021: Acadia Healthcare partnered with Geisinger Health for building new behavioral health facilities in Pennsylvania.

Key Companies profiled:

Some prominent players in the U.S. psychiatry clinic market include

  • 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

Order a free sample PDF of the U.S. Psychiatry Clinic Market Intelligence Study, published by Grand View Research.

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