$33.9bn
$X.Xbn
262k
448
$XX.Xbn
COVID-19 boosted mental health services demand as the isolation and financial stress caused by the pandemic resulted in depression and anxiety across various age groups. Psychiatric hospitals' 2022 revenue growth rallied after a slow but positive growth in 2021. In addition, the industry experienced increased levels of consolidation, with more healthcare companies engaging in merger and acquisition activities. Regulatory changes like the Centers for Medicare & Medicaid Services' adjustment of Medicare payment rates also shaped the industry landscape. Through 2024, industry revenue has increased at a CAGR of 1.6%, reaching $33.9 billion in 2024 but dipping by 0.7% in 2024 alone.
Industry revenue has grown at a CAGR of 1.6 % over the past five years, to reach an estimated $33.9bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Universal Health Services, Inc. | 4,909.0 | 716.0 | 14.6 |
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Industry revenue is measured across several distinct product and services lines, including Patient care for mental disorders, Assisted daily living for mental rehabilitation and Assisted living services. Patient care for mental disorders is the largest segment of the Psychiatric Hospitals in the US.
Various factors impact hospitalization levels
The Psychiatric Hospitals industry includes operators licensed to provide diagnostic and medical treatment, in addition to monitoring services for inpatients suffering from mental illness or substance abuse disorders. These operators maintain inpatient beds and a staff of physicians.
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NAICS 62221 - Psychiatric Hospitals in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Consolidation will benefit hospitals and patients. Larger size brings increased bargaining power with suppliers, payers and complementary health services to patients.
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Patients face complex decisions when seeking help. In addition to doctor’s recommendations, insurance coverage, the ability to pay out-of-pocket costs and the stigma surround...
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The West, and California: the most underserved region and state. The region and the state share of locations compared to population indicate some of the population will have ...
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High bed utilization rates ensure healthy profit. Access to skilled workers and staff by locating in populated, albeit competitive, markets will keep referral rates and bed u...
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Universal Health’s CEO highlights telehealth and addressing labor shortage as key to behavioral and mental healthcare improvements. Universal Health advocates for outside par...
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Technology aids but does not disrupt. Technology systems will augment administrative and communications functions, lowering costs, but will not replace the highly skilled lab...
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Reliable and trained workers are worth the expense. Doctor referrals depend on the hospital's reputation for skilled and reputable staff. Relying on temporary staff will lead...
Including values and annual change:
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Key data sources in the US include:
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The market size of the Psychiatric Hospitals in the US industry in United States is $33.9bn in 2024.
There are 448 businesses in the Psychiatric Hospitals in the US industry in United States, which has grown at a CAGR of 0.9 % between 2019 and 2024.
The market size of the Psychiatric Hospitals in the US industry in United States has been growing at a CAGR of 1.6 % between 2019 and 2024.
Over the next five years, the Psychiatric Hospitals in the US industry in United States is expected to grow.
The biggest company operating in the Psychiatric Hospitals market in United States is Universal Health Services, Inc.
Patient care for mental disorders and Acute long-term care services are part of the Psychiatric Hospitals in the US industry.
The company holding the most market share in United States is Universal Health Services, Inc..
The level of competition is moderate and steady in the Psychiatric Hospitals in the US industry in United States.