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Mental Health & Substance Abuse Clinics in Canada Industry Market Research Report Now Available from IBISWorld
Date:9/27/2013

Los Angeles, CA (PRWEB) September 27, 2013

The Mental Health and Substance Abuse Clinics industry provide a variety of outpatient care services for patients struggling with depression, schizophrenia, bipolar disorder, alcoholism and other drug related issues. In addition, industry clinics treat a variety of illnesses commonly affecting the elderly, such as dementia and Alzheimer's disease. Despite the unfavourable recessionary conditions and a slowdown in government funding, the industry is poised to grow at an annualized rate of 0.7% to $1.4 billion, in the five years to 2013. In 2013 alone, industry revenue is expected to increase 3.9%.

According to IBISWorld Industry Analyst Sean Windle, “A variety of social and demographic factors have combined to fuel revenue growth, including an increase in Canada's aging population.” Over the past five years, the population has grown at an annualized rate of 1.2% to 35.3 million people, and the median age has risen from 39 to 40. With Canada's Mental Health Association estimating that one in five Canadians will experience a mental health illness during their lifetime, the growing population will increase demand for industry services. Additionally, Canada's growing elderly population will strengthen demand for industry services related to the treatment of dementia and Alzheimer's disease. Despite these favourable demand factors, industry revenue growth has been stifled by sluggish growth in government funding. In spite of rising demand, budgets for many mental health and substance abuse clinics are being slashed. Consequently, a number of facilities closed during the past five years, with many non-essential employees being let go or reduced to part-time work.
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