Taking it easy: Government funding will grow, supporting the industry
The industry in Canada provides 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. Improving economic conditions along with greater societal awareness of mental health issues have contributed to industry revenue growth in recent years. The COVID-19 pandemic also to fueled demand for industry services, as the pandemic caused significant mental stress for many Canadians. Accordingly, industry revenue is expected to grow at a CAGR of 4.4% to reach $4.6 billion in 2023, when revenue is set to grow 2.0%. In spite of growing revenue, industry profit is has declined in recent years as wage costs have grown amid a persistent labor shortage.
The Mental Health and Substance Abuse Clinics industry in Canada provides outpatient services related to the diagnosis and treatment of mental health disorders and substance abuse problems. Moreover, these operators may provide counselling and information pertaining to these issues.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.
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Methodology
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