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Mental Health and Substance Abuse Centres in Canada Industry Market Research Report Now Available from IBISWorld

April 26, 2014

The rising awareness and acceptance of mental health and substance abuse illnesses has contributed to steady revenue growth, and over the next five years, demand for mental health and substance abuse treatment is forecast to increase in line with population growth and improvement in the social stigma around mental health. For these reasons, industry research firm IBISWorld has added a report on the Mental Health and Substance Abuse Centres in Canada industry to its growing industry report collection.

New York, NY (PRWEB) April 26, 2014

The rising awareness and acceptance of mental health and substance abuse illnesses has contributed to revenue growth for the Mental Health and Substance Abuse Centres industry. According to the Mental Health Commission of Canada, mental illness affects 18.8% of Canadians each year. Workplace depression, considered to be the fastest-growing sector of disability costs, is becoming a significant and growing concern among physicians and employers. Many employers have been offering supplemental benefits that allow employees to access pharmacological treatments and counseling services, stimulating industry demand. Consequently, in the five years to 2014, industry revenue is estimated to grow an annualized 1.3% to $2.1 billion. In 2014, Mental Health Abuse and Substance Centres industry revenue is projected to grow 6.2% in line with growing demand for industry services, a favourable economic climate and government efforts to improve the mental health system.

According to IBISWorld Industry Analyst Sally Lerman, “Despite the persisting need for mental health and substance abuse treatment, those seeking help for co-occurring mental health and substance abuse issues often face difficulty finding appropriate care due to the structure of the mental health system.” Profit also suffered slightly as many industry fees are paid out of pocket and disposable income has been fluctuating. There is interest within the medical profession in creating collaborative partnerships between primary care and mental healthcare providers, supporting the integration of mental health services within primary care. Nevertheless, Canada's mental health and substance abuse system remains largely independent and compartmentalized, thus representing a challenge for operators.

“Over the five years to 2019, demand for mental health and substance abuse treatment is forecast to increase in line with population growth and improvements in the social stigma around mental health,” says Lerman. The growing population of aging baby boomers, who are more prone to develop mental illnesses as they age, will further spur industry demand. However, the industry will experience a shift from inpatient to outpatient care, leading to more care being provided in community and private settings. This shift is expected to pressure industry revenue and decrease the number of operators. Other factors, such as new medical technologies and noninvasive procedures that reduce the need for hospitalization, are expected to change the way that certain services are delivered.

For more information, visit IBISWorld’s Mental Health Abuse and Substance Centres in Canada industry report page.

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IBISWorld industry Report Key Topics

The Mental Health Abuse and Substance Centres industry primarily provides residential care and treatment for patients with mental illnesses, drug addiction and alcoholism. Industry services include lodging, supervision, evaluation and counselling. Medical services may be available; however, these are incidental to counselling, mental rehabilitation and support services.

Industry Performance

Executive Summary

Key External Drivers

Current Performance

Industry Outlook

Industry Life Cycle

Products & Markets

Supply Chain

Products & Services

Major Markets

Globalization & Trade

Business Locations

Competitive Landscape

Market Share Concentration

Key Success Factors

Cost Structure Benchmarks

Barriers to Entry

Major Companies

Operating Conditions

Capital Intensity

Key Statistics

Industry Data

Annual Change

Key Ratios

About IBISWorld Inc.

Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US and Canadian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.

For the original version on PRWeb visit: http://www.prweb.com/releases/2014/04/prweb11799436.htm


Source: prweb



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