Industry Analysis & Industry Trends
While incidence and awareness of mental health are on the rise, the stigma associated with mental illness has dropped, both supporting industry demand and keeping revenue up during the recession. Moving forward, growth will continue as hospitals try to cut costs and consolidate. The trend toward community and residential settings will continue, and the balance between supply and demand will improve... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
Despite growth in the industry, the long presence of psychiatric hospitals in the United States contributes to the industry's mature stage. The industry's value added, which measures its contribution to the overall economy, is expected to grow at an annualized rate of 1.8% in the 10 years through 2017, which is in line with IBISWorld's projected 1.8% annualized increase in US GDP over the same period.
Demand has been bolstered by a destigmatization of mental health and increased education about psychiatric disorders and substance abuse. Declining marriage rates and a rise in divorce rates have resulted in many people being less able to fall back on family in times of need... purchase to read more