Impact Of Federal Funding: A Key Driver In the Residential Intellectual And Development Disability Care Market 2024

The Business Research Company’s Early Year-End Sale! Get up to 30% off detailed market research reports—for a limited time only!

LONDON, GREATER LONDON, UNITED KINGDOM, December 16, 2024 /EINPresswire.com/ -- The Business Research Company’s Early Year-End Sale! Get up to 30% off detailed market research reports—limited time only!

As per the Residential Intellectual and Development Disability Care Global Market Report 2024, the residential intellectual and development disability care market is projected to witness considerable growth in the coming years. The global market size, valued at $164.65 billion in 2023, is predicted to reach $176.54 billion by 2024 at a compound annual growth rate CAGR of 7.2%. The strong growth in the historic period can be attributed to the increasing awareness, expansion of government funding and support programs, improvements in care practices and standards, surge in the aging population, and substantial private investment in the sector.

What Does The Future Hold For The Residential Intellectual And Development Disability Care Market?

In the forthcoming years, the residential intellectual and development disability care market size is expected to enhance significantly. It is forecasted to reach an impressive $234.12 billion by 2028 at a compound annual growth rate CAGR of 7.3%. This considerable growth in the forecast period can be attributed to the prominent shift towards personalized and person-centered care, concerted efforts to address workforce shortages, improvement in training and education, increasing demand for specialized services, changes in policies and regulations at the federal and state levels, and the expansion of community-based and integrated care options.

For a detailed snapshot of the market, check the sample report here: https://www.thebusinessresearchcompany.com/sample.aspx?id=19678&type=smp

Which Factors are Steering the Growth of The Residential Intellectual and Development Disability Care Market?

The sheer level of federal funding dedicated to programs catering to individuals with intellectual disabilities is expected to significantly fuel the growth of the residential intellectual and development disability care market going forward. Such growth in federal investment reflects the growing awareness of their needs, tireless advocacy for improved services, and partly a commitment to inclusive policy initiatives aimed at enhancing quality of life and equity of opportunities. For instance, federal spending on special education through the Individuals with Disabilities Education Act IDEA rose from $13 billion to $15.5 billion between October 2022 and September 2023, as publicized by Education Week. Additionally, in 2023, the United States Department of Health and Human Services HHS invested a substantial $8 million to enhance the training of caregivers for residential intellectual and developmental disability care.

Interested in more in-depth insights? Get access to the full report here: https://www.thebusinessresearchcompany.com/report/residential-intellectual-and-development-disability-care-global-market-report

Who Are The Key Players Driving Growth in This Market?

The residential intellectual and development disability care market is home to several industry giants, namely, the Commonwealth of Pennsylvania, Texas Health and Human Services, Acadia Healthcare, Sheppard Pratt Health System Inc., Cerebral Palsy Associations of New York State, Merakey Allegheny Valley School, WellLife Network Inc., Alliance Health, PERFORMCARE, Texana Center, Cuyahoga County Board of Developmental Disabilities, Lutheran Family Services Rocky Mountains, The Home Care Spot., Metrocare Services, The Arc of the United States, Health Standards Organization HSO, New Vista Nursing and Rehabilitation Center, Residential Support Services, Lutheran Services in America Inc., St. Joseph's Center, The Commonwealth Fund, Beacon Health Options Inc., SPOT Rehabilitation & Home Health Care, Durham County Community Living Programs Inc. These organizations are redefining the industry standards with their innovative approach and immense contributions to the sector.

What Emerging Trends Are Shaping The Residential Intellectual and Development Disability Care Market?

Major organizations in the residential intellectual and development disability care market are increasingly focusing on post-secondary education programs. These tailor-made programs offer life skills, job readiness, and opportunities for social integration within university communities. For instance, in January 2023, the University of Missouri Mizzou launched the Preparing Adults for Work and Society PAWS program, a residential initiative designed to offer post-secondary education for students with intellectual and developmental disabilities. The PAWS program encourages interactions between students with disabilities and their peers, fostering inclusivity, and decreasing isolation.

How Is The Residential Intellectual And Development Disability Care Market Segmented?

The residential intellectual and development disability care market report is segmented as follows:

1 By Indication: Attention-Deficit Or Hyperactivity Disorder ADHD, Autism Spectrum Disorders, Intellectual Disability, Learning Disorders, Other Indications
2 By Mode Of Operation: State-Run Facilities, Medicaid Funded Services, Private Large Facilities, Privately Run Small Facilities
3 By Number Of Beds: 4 To 9, 10 To 19, 20 To 49, 50 To 99, 100 To 199, 200 And More Beds
4 By End User: Hospitals, Intermediate Care Facilities, Group Homes, Private Home, Intellectual And Developmental Disability Facilities

What Does The Regional Landscape Look Like?

In 2023, North America was the largest region in the residential intellectual and development disability care market. As for the future, Asia-Pacific is anticipated to be the fastest-growing region. The regional analysis covered in this report includes Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Browse Through More Similar Reports By The Business Research Company:
Prenatal DNA Sequencing Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/prenatal-dna-sequencing-global-market-report
Autologous Cell Therapy Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/autologous-cell-therapy-global-market-report
Biologics Testing Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/biologics-testing-global-market-report

About The Business Research Company
Learn More About The Business Research Company. With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game.

Connect with The Business Research Company:
Visit our website: https://www.thebusinessresearchcompany.com/
Contact us: Americas +1 3156230293, Asia +44 2071930708, Europe +44 2071930708
Or Email us at: info@tbrc.info

Stay updated on our latest findings:
Follow us on LinkedIn: https://in.linkedin.com/company/the-business-research-company
Turn to us on YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Our Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Oliver Guirdham
The Business Research Company
+44 20 7193 0708
email us here
Visit us on social media:
Facebook
X
LinkedIn