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Addiction Rehab Facilities Global Market Report 2024: Market Size To Reach $27.6 Billion By 2028

Addiction Rehab Facilities Market

Addiction Rehab Facilities Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033

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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%.”
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The addiction rehab facilities market has experienced strong growth lately. From $17.35 billion in 2023, it is projected to increase to $19.02 billion in 2024, with a compound annual growth rate CAGR of 9.6%. The uptick in the historical period can be attributed to an increased focus on mental health, growing awareness about addiction, rising mental health issues, higher healthcare expenditures, and an expansion in rehab facilities.

What is the future growth of the Addiction Rehab Facilities Market?

The addiction rehab facilities market will continue to exhibit steady expansion in the coming years, reaching an expected $27.6 billion by 2028, with a CAGR of 9.8%. This forecasted growth can be ascribed to escalating rates of substance abuse, the development of telehealth services, widening insurance coverages, the increase in education and awareness, and an expansion in outpatient programs.

Explore comprehensive insights into the Addiction Rehab Facilities market with a detailed sample report: https://www.thebusinessresearchcompany.com/sample.aspx?id=19266&type=smp

What Factors are Driving the Addiction Rehab Facilities Market?

A significant driver in the market's growth is the increasing usage of addictive substances. These are chemicals that cause a compulsion to continue use despite harmful consequences, often leading to physical or psychological dependence. Substance addiction is on the rise due to increased availability of drugs, socio-economic stressors, and a deficiency in effective preventive measures and treatment resources. Rehab facilities, which offer comprehensive care including medical supervision, therapy, and support, play a crucial role in managing withdrawal, recovery, and long-term sobriety. As of 2022, about 16.7% of Americans aged 12 and older have experienced a substance use disorder. These escalating numbers point to an increasing demand for rehab services.

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Who are the Key Players in the Addiction Rehab Facilities Market?

Notable companies operating in the addiction rehab facilities market include BrightView Holdings Inc., Hazelden Betty Ford Foundation, Recovery Centers of America, Banyan Treatment Center, Caron Treatment Centers, and The Right Step Consulting Pvt. Ltd among many others. These major players are pioneering innovative, holistic treatments and integrating technological advancements like AI and machine learning into treatment plans, setting the benchmark for industry standards.

What are the Emerging Trends in the Addiction Rehab Facilities Market?

Major companies are also developing innovative health services such as opioid use disorder services to enhance real-time care coordination and support for residents. One notable example is Jovive Health's Medication-Assisted Treatment MAT services launched in February 2023 for patients with Opioid Use Disorder OUD. Utilizing MAT with buprenorphine, this unique service helps manage the long-lasting changes in brain chemistry due to chronic opioid use.

How is the Addiction Rehab Facilities Market Segmented?

The report segments the addiction rehab facilities market as follows:

1 By Treatment Type: Tobacco Or Nicotine Addiction, Opioid Addiction, Alcohol Addiction, Other Treatment Types
2 By Treatment Centers: Residential Centers, Rehabilitation Centers, Inpatient Centers, Other Treatment Centers
3 By Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy, Other Distribution Channels

What are the Regional Insights in the Addiction Rehab Facilities Market?

In 2023, North America dominated the addiction rehab facilities market. However, the fastest growth is anticipated from the Asia-Pacific region in the forecast period. The comprehensive report covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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