GVR Report cover U.S. Psychiatry Clinic Market Size, Share & Trends Report

U.S. Psychiatry Clinic Market Size, Share & Trends Analysis Report By Age Group (Adult, Paediatric), And Segment Forecasts, 2022 - 2030

  • Report ID: GVR-4-68039-723-5
  • Number of Pages: 60
  • Format: Electronic (PDF)
  • Historical Range: 2016 - 2020
  • Industry: Healthcare

Report 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. 

 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.

COVID-19 U.S. Psychiatry Clinic Market Impact: 2.5% increase from 2019 to 2021

Pandemic Impact

Post COVID Outlook

The COVID-19 pandemic led to a global shutdown in all the markets. The psychiatric clinics in the U.S. were severely impacted during the early phase of the pandemic with psychiatry clinics being COVID-19 hotspots because of patients & majority of staff had COVID-19 infection. This resulted in heavy restrictions on psychiatric clinics leading to huge losses for the facilities in terms of revenue & patient numbers. 

Post COVID-19, the demand for mental health services will be high as ever with a huge disease prevalence. New services that emerged during the later pandemic phase like telepsychiatry consultation, digital psychiatric services, online therapy will be an integral part of having the highest demand

The COVID-19 pandemic has added to the growing prevalence of mental health disorders in the U.S. The mental health of people has been highly affected due to pandemics as a result of isolation, loss of activity, loss of income, etc. The accessibility to the facilities for patients has been an issue with a bit fewer facilities & restrictions due to the pandemic.

The effect of the pandemic on the mental health of the people will result in a new case and better facilities will be available to serve them with the U.S. government now considering mental health a priority. The psychiatry clinics app-based services & online therapy sessions are resulting in better accessibility to the facilities.

 

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. 

Age Group Insights

The adult segment held the largest share in 2021. This can be attributed to the growing disease prevalence among adults in the U.S. One in every four adults in the U.S. is having mental health problems as per mental health statistics by John Hopkins Medicine. Moreover, adult psychiatric services are available in most psychiatry clinics. Langley Porter Psychiatric Hospital, Mayo Clinic, Bellevue Hospital & Manhattan Psychiatric Center are some of the top psychiatry clinics known for adult services.    

 U.S. psychiatry clinic market share, by age group, 2021 (%)

The pediatric segment is expected to grow at a lucrative pace during the forecast period owing to the rising mental health problems and substance abuse among teenagers. Every one in six adolescents has mental health issues as per the National Council of Mental Wellbeing. Moreover improving accessibility to better pediatric facilities and increasing awareness programs for child mental health are boosting the segment growth.

The majority of mental health disorders in adults have their roots or start in adolescent age. Thus, an increasing number of substance abusers among teenagers is anticipated to increase the demand for psychiatry care among pediatrics. Many psychiatric facilities such as McLean Hospital have taken initiatives to have special services for adolescents and to spread awareness on pediatric mental health. This is propelling the segment growth.

Key Companies & Market Share Insights

The market is highly fragmented with the presence of well-established psychiatric clinics like Universal Health Services, Inc., Mayo Clinic, and others. Many psychiatric clinics in the U.S. operating at a small to medium scale have high competition within them but do not pose high competition to the top psychiatry clinics. The clinics are looking forward to gaining market share by updating technologies and launching new services & partnerships.

Some of the key 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

  • UCSF Health

  • Peninsula behavioral health

  • Mayo Clinic

U.S. Psychiatry Clinic Market Report Scope

Report Attribute

Details

The market size value in 2022

USD 24.7 billion

The revenue forecast in 2030

USD 34.1 billion

Growth rate

CAGR of 4.1% from 2022 to 2030

The base year for estimation

2021

Historical data

2016 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD billion and CAGR from 2022 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Age group

Country scope

U.S.

Key companies profiled

Universal Health Services; Langley Porter Psychiatric Hospital (LPPH); Bellevue Hospital; Manhattan Psychiatric Center; Menninger Clinic, Tucker Psychiatric Clinic; Acadia Healthcare; UCSF Health; Peninsula Behavioural Health; Mayo Clinic.

Customization scope

Free report customization (equivalent to up to 8 analyst working days) with purchase. Addition or alteration to country, regional, and segment scope. 

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Segments covered in the report 

This report forecasts revenue growth at the country level and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2030. For this study, Grand View Research has segmented the U.S. psychiatry clinic market report based on age group.

  • Age-Group Outlook (Revenue, USD Billion, 2016 - 2030)

    • Adult

    • Pediatrics

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