PUBLISHER: The Business Research Company | PRODUCT CODE: 1531910
PUBLISHER: The Business Research Company | PRODUCT CODE: 1531910
Cognitive behavioral therapy (CBT) is a form of psychotherapy designed to assist individuals in recognizing and modifying negative thought patterns and behaviors. It emphasizes the relationship between thoughts, emotions, and actions, with the goal of developing effective coping mechanisms for managing various mental health challenges. CBT is structured, goal-focused, and typically short-term.
There are several variants of cognitive behavioral therapy, including cognitive behavioral play therapy, desensitization, and aversion therapy, among others. This type of psychotherapy helps people of all ages-children, adults, and the elderly-to address issues such as anxiety disorders, depression, substance abuse, post-traumatic stress disorder (PTSD), eating disorders, attention deficit hyperactivity disorder (ADHD), bipolar disorders, and more. Service providers offering CBT include hospitals, clinics, specialty hospitals, rehabilitation centers, home care services, and others.
The cognitive behavioral therapy market research report is one of a series of new reports from The Business Research Company that provides cognitive behavioral therapy market statistics, including cognitive behavioral therapy industry global market size, regional shares, competitors with a cognitive behavioral therapy market share, detailed cognitive behavioral therapy market segments, market trends and opportunities, and any further data you may need to thrive in the cognitive behavioral therapy industry. This cognitive behavioral therapy market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The cognitive behavioral therapy market size has grown rapidly in recent years. It will grow from $176.23 billion in 2023 to $195.04 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. Historical growth can be credited to the globalization of mental health services, healthcare policy advancements, expanded insurance coverage, a shift in treatment approaches, increased mental health awareness, and the development of cognitive behavioral therapy (CBT).
The cognitive behavioral therapy market size is expected to see rapid growth in the next few years. It will grow to $294.08 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%. The growth in the forecast period is driven by a rising demand for workplace mental health support, growing government funding and initiatives, ongoing innovation in digital therapeutics and mobile health applications, integration into primary care, and targeted interventions for specific demographic groups. Key trends expected in the forecast period include a heightened focus on personalized medicine, the proliferation of digital platforms offering CBT, expanded community-based mental health services, a greater emphasis on teletherapy and remote monitoring, and the integration of outcome measurement and data analytics into mental health care.
The rising number of depression cases is anticipated to boost the growth of the cognitive behavioral therapy (CBT) market in the future. Depression, a mental health disorder, is marked by persistent feelings of sadness, hopelessness, and a lack of interest or pleasure in activities, often accompanied by physical symptoms such as changes in appetite or sleep patterns. Several factors, including societal pressures, economic stressors, genetic predispositions, trauma, and limited access to mental health resources and support, contribute to the increasing prevalence of depression. CBT is effective in treating depression by helping individuals identify and alter negative thought patterns and behaviors. For example, in October 2021, Boston University reported that the rate of depression among adults in the United States tripled during the early months of the global coronavirus pandemic, rising from 8.5% before the pandemic to 27.8% in 2021, and further increased to 32.8%, affecting one in every three American adults. Consequently, the growing incidence of depression fuels the expansion of the CBT market.
Leading companies in the CBT market are developing innovative services, such as the cognitive behavioral therapy for insomnia (CBT-I) program, to gain a competitive advantage. CBT-I is a structured program designed to enhance sleep by addressing the underlying cognitive and behavioral factors contributing to insomnia, including maladaptive sleep habits and negative thought patterns. For instance, in March 2024, Allegheny Health Network, a US-based healthcare company, launched a new evidence-based CBT-I program aimed at helping patients improve their sleep quality and quantity. This initiative, funded by a grant from the Richard King Mellon Foundation, is a collaborative effort between the AHN Primary Care Institute, the AHN Psychiatry & Behavioral Health Institute, and Highmark Health.
In January 2023, Big Health, a US-based digital therapeutics company, acquired Limbix for an undisclosed amount. This acquisition marks Big Health's entry into the adolescent market, adding to its existing portfolio of products for insomnia and anxiety. Limbix is a US-based developer of a digital therapeutics platform intended for the treatment of adolescent mental health.
Major companies operating in the cognitive behavioral therapy market are Universal Health Services Inc., Magellan Health, Acadia Healthcare Company, Headspace Inc., American Addiction Centers Inc., Behavioral Health Group Inc., American Well Corp., Landmark Recovery, Haven Behavioural Healthcare Inc., Ieso Digital Health Ltd., Talkspace Inc., Springstone Inc., Unmind, TherapyNotes LLC, Woebot Health, Big Health, Pear Therapeutics Inc., SilverCloud Health Inc., eMindful Inc., Thrive Therapeutic Software Limited, Cognoa Inc., Therachat, Spring Care Inc., Minddistrict, Sanvello
North America was the largest region in the cognitive behavioral therapy market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cognitive behavioral therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the cognitive behavioral therapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The cognitive behavioral therapy market includes revenues earned by entities by providing services such as cognitive restructuring, exposure therapy, skills training, mindfulness, and relaxation techniques. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Cognitive Behavioral Therapy Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on cognitive behavioral therapy market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for cognitive behavioral therapy ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The cognitive behavioral therapy market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.