Cognitive Behavioral Therapy Market: Current Analysis and Forecast (2021-2027)
$3500 – $6860
Emphasis on Type (Cognitive Behavioral Therapy, Cognitive Behavioral Play Therapy, System, Desensitization, Aversion Therapy, Others), Applications (Anxiety Disorders, Depression, Substance Abuse, PTSD (Post-Traumatic Stress Disorder), Eating Disorders, ADHD (Attention Deficit Hyperactivity Disorder), Bipolar Disorders, Others); Patient Type (Children, Adults); Treatment Settings (Hospitals, Outpatient Clinics, Community Health Centers, Others); and Region & Country.
Cognitive Behavioral Therapy Market was valued at US$ 23 billion in 2020 and is expected to grow at a CAGR of 5% over the forecast period (2021-2027). Cognitive Behavioural Therapy (CBT) is a type of psychotherapy for the treatment of different mental health-related problems such as anxiety disorders, mood disorders, substance abuse disorders, personality disorders, and attention deficit disorders. These therapies are performed to substitute the bad habits with the good ones and to help the person to manage difficult situations in life. As per the U.S. Census Bureau and the National Center for Health Statistics, more than 4 in 10 U.S. adults had developed symptoms of anxiety or depression at the end of 2020.
The demand for Cognitive Behavioural Therapy is mainly increasing on account of the rising incidences of obsessive-compulsive disorder (OCD), increasing cases of depression, Increased awareness regarding mental health & available therapeutic options, and escalating bad behaviors among teen individuals. As per the Anxiety and Depression Association of America (2020), around 2.3% of the population has OCD, which is about 1 in 100 children and 1 in 40 adults in the U.S.
Percentage of U.S. Adults Showing Symptoms of Anxiety/Depressive Disorder (2021)
Insights Presented in the Report
“Amongst Type, Cognitive Behavior Therapy segment holds the major share.”
Based on Type, the market is fragmented into Cognitive Behavioral Therapy, Cognitive Behavioral Play Therapy, System, Desensitization, Aversion Therapy, and Others. Cognitive Behavioral Therapy accounted for the largest share in 2020 is anticipated to register a lucrative CAGR during the forecast period. The rising prevalence of mental health disorders such as anxiety disorders, depression, substance abuse, PTSD (post-traumatic stress disorder) propels the market growth. As per the World Health Organization (2020), Depression is the leading cause of disability in the world, and more than 264 million people suffer from depression worldwide.
“Amongst Applications, Substance Abuse Disorders is anticipated to grow at the highest CAGR during the analyzed period.”
Based on Applications, the market is fragmented into Anxiety Disorders, Depression, Substance Abuse, PTSD (Post-Traumatic Stress Disorder), Eating Disorders, ADHD (Attention Deficit Hyperactivity Disorder), Bipolar Disorders, and Others. The anxiety disorders segment registered the highest CAGR in 2019 Substance Abuse Disorders is expected to register the highest CAGR during the forecast period, owing to an increase in the prevalence of substance abuse of people staying at home during the lockdown, and rise in illegal business of abuse drugs post unemployment. As per the National Survey on Drug Use and Health (NSDUH), 19.7 million American adults (aged 12 and older) were suffering from substance use disorder in 2017.
Amongst Patient Type, the Adults segment holds the major share”
Based on Patient Type, the market is fragmented into Children and Adults. The Adult segment accounted for the largest share in 2020 is anticipated to register a lucrative CAGR during the forecast period owing to the high prevalence of mental disorders and bad lifestyles. As per the Our World in Data, more than a quarter (26.3%) of adults aged 18 to 25 years old had a mental health disease in 2018.
Amongst Treatment Settings, the Outpatient Clinics segment holds the major share”
Based on Treatment Settings, the market is fragmented into Hospitals, Outpatient Clinics, Community Health Centers, and Others. The Outpatient Clinics dominated the market in 2019 and is anticipated to register the highest growth in the forecast period. The flexibility of the outpatient clinics makes it feasible for the patient to attend the appointment during the daytime and to be with their family in the evenings. The increase in outpatient clinics for mental health facilities also propels the market growth. As per Statista, there were 5,220 outpatient mental health facilities in the U.S. in 2019.
“North America signifies one of the largest markets and Europe is expected to be the fastest-growing markets of Cognitive Behavioural Therapy market.”
For a better understanding of the market adoption of Cognitive Behavioural Therapy, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America will dominate the Cognitive Behavioural Therapy market on account of the rising mental health disorders, rising number of mental health clinics, and high awareness regarding mental health. As per the National Institute of Mental Health, there were approximately 51.5 million adults aged 18 or above in the United States with Any mental illness (AMI). This number represented 20.6% of all U.S. adults.
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- Deep dive regional level analysis of the industry
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|1.4.||Currency Used in Report|
|2.1.||Research Process of the Cognitive Behavior Therapy Market|
|2.2.||Research Methodology of the Cognitive Behavior Therapy Market|
|2.5.||Main Objective of the Cognitive Behavior Therapy Market Study|
|5||GLOBAL COGNITIVE BEHAVIOR THERAPY MARKET ANALYSIS 2019-27F|
|6.1.||Cognitive Behavioral Therapy|
|6.2.||Cognitive Behavioral Play Therapy|
|7.4.||PTSD (Post-Traumatic Stress Disorder)|
|7.6.||ADHD (Attention Deficit Hyperactivity Disorder)|
|9.3.||Community Health Centers|
|10.1.||NORTH AMERICA COGNITIVE BEHAVIOR THERAPY MARKET|
|10.1.3.||Rest of North America|
|10.2.||EUROPE COGNITIVE BEHAVIOR THERAPY MARKET|
|10.2.6.||Rest of Europe|
|10.3.||ASIA PACIFIC COGNITIVE BEHAVIOR THERAPY MARKET|
|10.3.5.||Rest of Asia Pacific|
|10.4.||REST OF WORLD COGNITIVE BEHAVIOR THERAPY MARKET|
|11||DEMAND AND SUPPLY SIDE ANALYSIS|
|12||VALUE CHAIN ANALYSIS|
|13||COGNITIVE BEHAVIOR THERAPY MARKET TRENDS & INSIGHTS|
|15||COGNITIVE BEHAVIOR THERAPY MARKET OPPORTUNITIES|
|17.3.||Taro Pharmaceutical Industries Ltd.|
|17.4.||Perrigo Company plc|
|17.8.||Strides Arcolab Ltd.|
|17.9.||TOLMAR Pharmaceuticals, Inc.|
Analyzing the historical market, estimation of the current market, and forecasting the future market of the Global Cognitive Behavioural Therapy market were the three major steps undertaken to create and analyze the adoption of Cognitive Behavioural Therapy for the different applications across major Treatment Settings such as Hospitals, Outpatient Clinics, Community Health Centers, and Others. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Cognitive Behavioural Therapy sector. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detailed secondary study was conducted to obtain the historical market size of the Cognitive Behavioural Therapy through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Cognitive Behavioural Therapy market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments for major regions. Major segments included in the report are Type, Application, Patient Type, and Treatment settings. Further country-level analyses were conducted to evaluate the overall adoption of Cognitive Behavioural Therapy in every region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Cognitive Behavioural Therapy. Further, we conducted factor analysis using dependent and independent variables such as rising incidences of obsessive-compulsive disorder (OCD), increasing cases of depression, Increased awareness regarding mental health.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Cognitive Behavioural Therapy Market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (USD) and the adoption rate of Cognitive Behavioural Therapy across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the Cognitive Behavioural Therapy market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Cognitive Behavioural Therapy market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of Type, Application, Patient Type, and Treatment settings, and Region of the Cognitive Behavioural Therapy market.
Main Objective of the Cognitive Behavioural Therapy market Study
The current & future market trends of Cognitive Behavioural Therapy were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of Cognitive Behavioural Therapy in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
- Segments in the study include areas of Type, Application, Patient Type, and Treatment settings, and Region
- Define and analysis of the regulatory framework for the Cognitive Behavioural Therapy industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the Cognitive Behavioural Therapy market for the major region
- Major regions studied in the report include North America (the United States and Canada), Europe (Germany, France, Italy, Spain, and United Kingdom), Asia-Pacific (China, Japan, India, and Australia), and Rest of the World
- Company profiles of the Cognitive Behavioural Therapy market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry