Increased awareness and rising incidence of mental health issues and illness supported industry demand and revenue during the recession. Moving forward, growth will continue as hospitals try to cut costs and consolidate, although these mounting wage and supply costs will put downward pressure on industry profitability. The trend toward community and residential settings will continue, and the balance between supply and demand will improve.
This industry includes establishments licensed to provide diagnostic and medical treatment, as well as monitoring services for inpatients suffering from mental illness or substance abuse disorders. These establishments maintain inpatient beds and a staff of physicians. Facilities that emphasize counseling for mental health and substance abuse rather than medical treatment are not included in the industry (see IBISWorld report 62322, Mental Health and Substance Abuse Centers).
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.