The residential substance abuse and mental health facility services market consists of sales of residential substance abuse and mental health facility services and related goods by entities (organizations, sole traders and partnerships) that provide residential substance abuse and mental health facility services. This industry includes establishments that provide residential mental health & intellectual disability facility services and substance abuse centers that offer treatment to drug addicted patients, counseling and other support services to mentally challenged patients.
The global residential substance abuse and mental health facilities market is expected to grow from $77.3 billion in 2019 to $86.4 billion in 2020 at a compound annual growth rate (CAGR) of 11.9%. The growth can be attributed to the continued services being provided by the residential substance abuse and mental health facility services during the COVID-19 outbreak. The impact of COVID-19 has caused stress, anxiety, and depression in many patients. The mental health condition of patients with preexisting mental health issues has also worsened due to covid impact. Therefore, people with substance abuse and mental health are advised to continue their treatment during Covid-19, and the service providers are permitted to continue providing their services following the recommendations and guidelines issued by health authorities. The market is then expected to grow at a CAGR of 6% from 2021 and reach $101.8 billion in 2023.
