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Psychologists, Social Workers & Marriage Counselors in the US - Industry Market Research Report

  • January 2017
  • 35 pages
  • Ibisworld
Report ID: 500784

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Worked out: Private health insurance will become more affordable, spurring industry demand

Abstract

Psychologists, Social Workers & Marriage Counselors in the US

The nature of the Psychologists, Social Workers and Marriage Counselors industry enables it to thrive even when economic conditions are poor. As a result, revenue for the industry is expected to grow. Wider public awareness of mental health issues has helped increase the number of overall industry patients. Additionally, businesses have begun to recognize the benefits of hiring industrial psychologists. Federal funding for Medicare and Medicaid is expected to continue expanding in the five years to 2021 because of the PPACA, driving demand for industry services. Additional stipulations in health reform, combined with improving economic conditions, will likely increase the number of privately insured individuals, further boosting demand for mental health counseling. As a result, industry growth is expected to remain strong over the next five years.

This industry is composed of mental health practitioners who diagnose and treat mental, emotional and behavioral disorders brought about by mental illness, substance abuse or physical and emotional trauma. These practitioners include psychologists, social workers and marriage counselors. The industry excludes mental health professionals who have a Doctor of Medicine (MD) degree or a Doctor of Osteopathy (DO) degree; they are classified under IBISWorld reports 62111a and 62111b.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.



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