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Global Addiction Rehab Facilities Market Overview Covering Forecast Market Size And Growth Rate 2033
Addiction Rehab Facilities Global Market Report 2024
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According to The Business Research Company's, The addiction rehab facilities market size has grown strongly in recent years. It will grow from $17.35 billion in 2023 to $19.02 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to increasing focus on mental health, increasing awareness about addiction, growing mental health issues, rising healthcare expenditures, and an increase in rehabilitation facilities.
The addiction rehab facilities market size is expected to reach strong growth in the next few years. It will grow to $27.6 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to rising substance abuse rates, growth in telehealth services, expanding insurance coverage, increasing education and knowledge, and the expansion of outpatient programs. Major trends in the forecast period include technological advancements, adoption of holistic treatments, the expansion of outpatient rehab facilities, the integration of AI and machine learning in treatment plans, and demand for personalized treatment.
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Market Drivers and Trends:
The rising use of addictive substances is expected to propel the growth of the addiction rehab facilities market going forward. Addictive substances are chemicals that, when consumed, cause a compulsion to continue use despite harmful consequences, often leading to physical or psychological dependence. Substance addiction is rising due to a combination of increased availability of drugs, social and economic stressors, and a lack of effective preventive measures and treatment resources. Addiction rehab facilities are required for treating substance addiction because they provide structured, comprehensive care, including medical supervision, therapy, and support, essential for effectively managing withdrawal, recovery, and long-term sobriety. For instance, in June 2024, according to the American Addiction Centers, a US-based provider of substance abuse treatment, as of 2022, approximately 16.7% of Americans aged 12 and older experienced a substance use disorder, reflecting a significant rise from previous years. Specifically, 10.5% had an alcohol use disorder, and 9.7% struggled with a drug use disorder. Therefore, the rising use of addictive substances is driving the growth of the addiction rehab facilities market.
Major companies operating in the addiction rehab facilities market are developing innovative health services, such as opioid use disorder services, to enhance real-time care coordination and support for residents. Opioid use disorder services are tailored treatments and support systems aimed at helping individuals manage and overcome opioid addiction. These services include a combination of medications, therapy, and counseling. For instance, in February 2023, Jovive Health, a US-based provider of urgent care and primary care services, launched the Medication-Assisted Treatment (MAT) services for patients with Opioid Use Disorder (OUD). The service offers a unique approach to addressing opioid dependence by focusing on diminishing the physical withdrawal symptoms and cravings that often make discontinuation difficult. Utilizing medication-assisted treatment (MAT) with buprenorphine, the clinics in California, Nevada, and Illinois help manage the long-lasting changes in brain chemistry caused by chronic opioid use, providing patients with a more manageable path to overcoming their addiction and safely stopping opioid use.
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Major Key Players of the Market:
BrightView Holdings Inc., Hazelden Betty Ford Foundation, Recovery Centers of America, Banyan Treatment Center, Caron Treatment Centers, The Right Step Consulting Pvt. Ltd., Promises Treatment Centers, Cenikor Foundation, Sunshine Behavioral Health Partners LLC, Sierra Tucson Group, Sober College School of Addiction Studies, Alina Lodge, Ascendant New York, Brookdale Premier Addiction Recovery, The Recovery Village, The Edge Treatment Center, The Phoenix Recovery Center, The Discovery House, Northbound Treatment Services, Passages Addiction Treatment Centers's, A Better Today Recovery Services, Ocean Recovery Alliance's
Addiction Rehab Facilities Market 2024 Key Insights:
• The addiction rehab facilities market size is expected to reach strong growth in the next few years. It will grow to $27.6 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%.
• Rising Substance Use Drives Expansion Of Addiction Rehab Facilities Market
• Innovation In Opioid Use Disorder Services Drives Growth In Addiction Rehab Facilities Market
• North America was the largest region in the addiction rehab facilities market in 2023
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