(I-BusinessNews.Com, December 17, 2018 ) The global residential substance abuse and mental health facilities market, one of the segments of healthcare services industry. During the historic period it grew at a compound annual growth rate (CAGR) of around 2%. This was mainly due to the low access to mental healthcare and limited insurance coverage.
For the forecasted period, the global residential substance abuse and mental health facilities market size is expected to be over $160 billion by 2021, growing at a CAGR of nearly 2.5%. The growth rate for forecasted period is higher when compared to the historic period. This is mainly attributed to economic growth and changing socio-economic factors
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The substance abuse centers industry is expected to benefit from the increasing alcohol and drug use. According to the data released by Health and Social Care Information Centre (HSCIC) in 2015, hospital admissions due to drug poisoning rose by more than 50% in the previous decade with an annual rise of more than 2% in the UK . In the US, more than 27 million people aged above 12 were using illicit drugs, adding up to almost one in every tenth American
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