Residential Substance Abuse And Mental Health Facilities Industry Growth Expected to Reach $146.1 Billion by 2029 at a CAGR of 7.2% | Segmentation and Growth Opportunities
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#How Has the Residential Substance Abuse And Mental Health Facilities Market Growth Performance Trended Historically, And What Lies Ahead?
The market size for residential substance abuse and mental health facilities has significantly increased lately. Anticipated to expand from $103.19 billion in 2024 to $110.67 billion in 2025, the market will see a compound annual growth rate (CAGR) of 7.2%. The previous growth can be credited to substance abuse outbreaks, increased awareness of mental health, deinstitutionalization, legislation and changes in healthcare regulations, as well as modifications in insurance coverage and parity laws.
What Is the Forecast for the Residential Substance Abuse And Mental Health Facilities Market Size Through 2029?
The market size of residential substance abuse and mental health facilities is anticipated to witness robust growth in the upcoming years. It is projected to reach $146.1 billion by 2029 with a compound annual growth rate (CAGR) of 7.2%. This growth during the forecasted period can be credited to factors such as mental health parity, telehealth and digital solutions, response to the opioid crisis, improved access to care, and integration of various services. Major trend forecasts for this period encompass holistic and trauma-informed care, treatment for dual diagnosis, practice based on evidence, services oriented towards recovery, and a focus on cultural competency and diversity.
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What are the Key Market Players in Residential Substance Abuse And Mental Health Facilities Market and How They’re Evolving?
Major companies operating in the residential substance abuse and mental health facilities market include Kaiser Permanente, Universal Health Services Inc., Ohio Department of Mental Health and Addiction Services, NHS England, Acadia Healthcare Company, CareTech Holdings PLC, Pyramid Healthcare, Haven Behavioral Healthcare, American Addiction Centers, Behavioral Health Network Inc. (BHN), Promises Behavioral Health, Aware Recovery Care, The MENTOR Network, Strategic Behavioral Health, Ascension Seton, North Range Behavioral Health, Phoenix House, Caron Treatment Centers, Sierra Tucson, The Meadows, Rogers Behavioral Health, Timberline Knolls Residential Treatment Center, The Ranch, The Recovery Village, Sunspire Health, Summit BHC, The Aviary Recovery Center, The Meadows, The MENTOR Network, The Pavilion.
What Are the Primary Growth Drivers in the Residential Substance Abuse And Mental Health Facilities Market?
Cases of Autism and Attention Deficit and Hyperactivity Disorder (ADHD) are on the rise globally. ADHD is identified by disturbed functioning in areas such as attention, hyperactivity, and impulsivity, while autism is a neurodevelopmental disorder marked by hindered social interaction, verbal and non-verbal communication, and limited and repetitive behaviour. According to information from the Centers for Disease Control and Prevention (CDC), it is estimated that one in 36 children in the US will be diagnosed with an autism spectrum disorder (ASD) by 2023. The upward trend in mental health issues is projected to fuel this market’s growth in the future.
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What Are the Leading Segments in the Global Residential Substance Abuse And Mental Health Facilities Industry?
The residential substance abuse and mental health facilities market covered in this report is segmented –
1) By Type: Residential Mental Health And Intellectual Disability Facilities, Substance Abuse Centers
2) By Type of Expenditure: Public, Private
3) By End User Gender: Male, Female
Subsegments:
1) By Residential Mental Health And Intellectual Disability Facilities: Psychiatric Care Homes, Intellectual Disability Facilities, Dual Diagnosis Facilities
2) By Substance Abuse Centers: Alcohol Rehabilitation Centers, Drug Rehabilitation Centers, Combined Substance Abuse Treatment Facilities
What Are the Key Market Trends in the Residential Substance Abuse And Mental Health Facilities Industry?
Healthcare providers are incorporating technology-driven approaches in treating patients with substance abuse issues. The utilization of technology is aimed at delivering intervention methods through digital platforms in an effort to manage substance misuse disorders. This is achieved by offering emotional, decisional and behavioral support for the associated physical and psychological issues. This includes therapy mediated through internet technology, online self-help interventions, and digital therapeutic software. Furthermore, self-directed and online educational interventions provide individuals the opportunity to garner information related to specific symptoms, disease diagnoses affecting the health of the patient, and potential treatments. It also facilitates communication between therapists and patients online. Notably, renowned hospitals, such as Mayo Clinic, Texas Medical Centre, Johns Hopkins, The London Clinic, American Hospital, and Fortis Memorial Research Institute, have been at the forefront in offering tech-based interventions for substance misuse disorders.
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What Is the Regional Outlook for the Residential Substance Abuse And Mental Health Facilities Market?
North America was the largest region in the residential substance abuse and mental health facilities market in 2023. Western Europe was the second largest region in the residential substance abuse and mental health facilities market. The regions covered in the residential substance abuse and mental health facilities market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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This Report Delivers Insight On:
1. How big is the residential substance abuse and mental health facilities market, and how is it changing globally?
2. Who are the major companies in the residential substance abuse and mental health facilities market, and how are they performing?
3. What are the key opportunities and risks in the residential substance abuse and mental health facilities market right now?
4. Which products or customer segments are growing the most in the residential substance abuse and mental health facilities market?
5. What factors are helping or slowing down the growth of the residential substance abuse and mental health facilities market?
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