Behavioral Therapists in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: February 2024
NAICS OD4164Revenue
$18.9bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
239k
Businesses
144k
Wages
$X.Xbn
Behavioral Therapists in the US industry analysis
Rising awareness of mental health treatment's economic, personal and societal benefits has supported behavioral therapists in recent years. According to the Substance Abuse and Mental Health Administration, one in four adults suffers from a mental health condition. In recent years, destigmatizing mental health has encouraged more of these patients to find a behavioral therapist. Other healthcare providers are also increasingly valuing the role of a behavioral therapist in the patient's care journey. Many people with behavioral health conditions have coexisting physical conditions, incentivizing healthcare providers to integrate behavioral therapists to improve patient outcomes and lower costs. Behavioral therapists' growing role in traditional healthcare has been reflected more robustly in employer-sponsored health plans, facilitating access to therapy. A deepening mental health crisis has led revenue to expand at a CAGR of 6.2% over the past five years – including an estimated 0.4% increase in 2023 – when revenue will total an expected $18.9 billion.
Trends and Insights
- A deepening mental health crisis has strengthened behavioral therapists’ role. Even as the pandemic fades into the background, its impact on mental health continues to fuel an unprecedented demand for behavioral therapy.
- The pandemic expanded the prevalence and awareness of behavioral health issues in the US. Behavioral therapists are treating more patients than ever for mental health conditions but struggle to meet unprecedented demand.
- Behavioral health disparities separate rural and metropolitan areas. Rural areas are facing critical shortages of behavioral therapists – but therapists using teletherapy could offer a solution.
- A sudden uptick in telehealth companies introduces a new type of competition. Telehealth apps provide an affordable and accessible option for mental health treatment that pulls patients away from sessions with a behavioral therapist.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 6.2 % over the past five years, to reach an estimated $18.9bn in 2024.
Trends and Insights
A lifting stigma encourages more patients to find a behavioral therapist
- Millions in the United States are affected by mental health conditions each year. Mounting awareness of the importance of mental and behavioral health has led more individuals to seek behavioral therapy treatment in recent years.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
An unprecedented mental health crisis triggers an evolution in behavioral health
- Behavioral therapists' expanding role in treating the millions of people affected by mental and emotional disorders won't wane moving forward.
Biggest companies in the Behavioral Therapists in the US
| Company | Market Share (%)
2024 | Revenue ($short_0)
2024 | Profit ($short_0)
2024 | Profit Margin (%)
2024 |
|---|
There are no companies that hold a large enough market share in the Behavioral Therapists in the US industry for IBISWorld to include in this product.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Mental illness treatment, Substance abuse disorder treatment and Mental illness and substance abuse disorder treatment. Mental illness treatment is the largest segment of the Behavioral Therapists in the US.
Trends and Insights
COVID-19 exacerbates rates of mental health conditions
- Behavioral therapists use techniques and treatments to help patients struggling with mental and emotional conditions (anxiety, depression, panic disorder, phobias).
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Psychologists, Social Workers & Marriage Counselors in the US
- Mental Health & Substance Abuse Clinics in the US
Complementors
- Primary Care Doctors in the US
- Specialist Doctors in the US
International industries
- Other Health Services in Australia
- Other Health Services in New Zealand
- Allied Health-Care Services in the UK
Table of Contents
About this industry
Industry definition
Behavioral therapists are mental health professionals who specialize in the assessment, diagnosis and treatment of various mental health issues, with a focus on understanding and modifying behaviors. Therapists can work in an independent or group office setting.
What's included in this industry?
Providing therapy for mental health conditionsProviding therapy for substance abuse conditions Providing therapy for anxiety disorders Conduct group therapy sessionsConduct couples and family sessionsCompanies
Purchase this report to view all major companies in this industry.
Related Terms
OUTPATIENTMENTAL HEALTH PARITYMEDICAIDMEDICAREIndustry Code
NAICS 62134 - Behavioral Therapists in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
A deepening mental health crisis has strengthened behavioral therapists’ role. Even as the pandemic fades into the background, its impact on mental health continues to fuel a...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
The pandemic expanded the prevalence and awareness of behavioral health issues in the US. Behavioral therapists are treating more patients than ever for mental health conditi...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Behavioral health disparities separate rural and metropolitan areas. Rural areas are facing critical shortages of behavioral therapists – but therapists using teletherapy cou...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
A sudden uptick in telehealth companies introduces a new type of competition. Telehealth apps provide an affordable and accessible option for mental health treatment that pul...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Behavioral health has historically been a highly fragmented market. Behavioral therapists delivering care from small practices comprise most of this market, preventing any si...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
Detailed analysis
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
A complex regulatory environment dictates how, where and to what extent behavioral therapists can practice. Regulations concerning patient privacy and data security are in th...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
An undersized behavioral therapy workforce is pressuring wage growth. Behavioral therapy practices are paying higher salaries for therapists and nonclinical staff as shortage...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
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Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
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Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Behavioral Therapists in the US industry in United States in 2024?
The market size of the Behavioral Therapists in the US industry in United States is $18.9bn in 2024.
How many businesses are there in the Behavioral Therapists in the US industry in 2024?
There are 144k businesses in the Behavioral Therapists in the US industry in United States, which has grown at a CAGR of 5.4 % between 2019 and 2024.
Has the Behavioral Therapists in the US industry in United States grown or declined over the past 5 years?
The market size of the Behavioral Therapists in the US industry in United States has been growing at a CAGR of 6.2 % between 2019 and 2024.
What is the forecast growth of the Behavioral Therapists in the US industry in United States over the next 5 years?
Over the next five years, the Behavioral Therapists in the US industry in United States is expected to grow.
What does the Behavioral Therapists in the US in United States include?
Providing therapy for mental health conditions and Providing therapy for substance abuse conditions are part of the Behavioral Therapists in the US industry.
How competitive is the Behavioral Therapists in the US industry in United States?
The level of competition is moderate and steady in the Behavioral Therapists in the US industry in United States.
