Substance Abuse Treatment Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030
Page: 215 | Report Code: LS241007 | Research Suite: Report (PDF) & Market Data (Excel)
The global market value of the Substance Abuse Treatment Market was valued at USD 10.4 billion in 2022, and a CAGR of 8.5% is expected during the forecast period. An increase in the number of rehabilitation centers globally is expected to contribute to the market growth significantly. A rise in awareness about the negative effects of substance abuse is driving growth in the market significantly.
The rise in prescription drug abuse and the rise in awareness spread through television advertisements, newspapers, information brochures, and other media are also contributing towards market growth. Favorable reimbursements for smoking cessation therapies are driving growth in the market significantly.
Growth Drivers
Rising cases of alcohol, opioid, and illicit drug use globally are contributing to the growing demand for treatment solutions. The opioid crisis, especially in North America, has significantly fueled the need for substance abuse treatment services. Governments worldwide are increasing funding for drug rehabilitation centers, awareness campaigns, and support programs. Policies that focus on harm reduction, prevention, and treatment are encouraging the expansion of substance abuse treatment services.
Increased awareness
of the health impacts of addiction and efforts to reduce stigma around seeking
help are driving more people to access treatment. Increasing inspiration from
public health campaigns for early intervention and treatment. Innovations in
addiction treatment, such as medication-assisted treatment, behavioral
therapies, and digital health solutions, are enhancing the effectiveness of
substance abuse care and increasing the success rates of rehabilitation
programs.
Companies are increasingly investing in employee wellness programs that include mental health and substance abuse treatment, contributing to market growth by promoting early intervention and support for the employees. The pandemic led to a surge in substance abuse and mental health issues, with many turning to alcohol or drugs to cope with the stress, isolation, and economic uncertainty.
This has driven increased demand for treatment services.
Expanding coverage for substance abuse treatment through private and public
insurance, such as Medicaid in the United States, is improving access to care.
Growing recognition of the link between health disorders and substance abuse
has led to integrated treatment approaches. This holistic care model is
increasingly in demand as patients receive support for co-occurring mental
health issues and addiction.
Segmentation
Alcohol Addiction
·
Disulfiram
·
Acamprosate
·
Naltrexone
·
Others
Nicotine Addiction
·
Total NRT Therapy
·
Varenicline
·
Bupropion
Drug Abuse Treatment
·
Methadone
·
Buprenorphine
·
Naltexone
Distribution Channel Segmentation
·
Hospital Pharmacies
·
Retail Pharmacies
·
Drug Store
Regional Outlook
·
Asia Pacific
·
North America
·
Latin America
·
Middle East and Africa
·
Europe
Substance Abuse Treatment Market by
Distribution Channel Segmentation
On the basis of distribution channel, the substance abuse treatment market is segmented into hospital pharmacies, retail pharmacies, and drug stores. Hospital pharmacies typically lead the market by far because these are more involved in the distribution of prescription medications used for treating substance abuse, such as methadone, buprenorphine, and naloxone.
Hospitals often provide comprehensive addiction treatment programs, which include inpatient detoxification and medication-assisted treatment, giving hospital pharmacies a more central role in delivering these essential medications. Retail pharmacies and drug stores are also significant, particularly for outpatient services and for providing medications like naloxone for opioid overdose prevention.
Retail pharmacies and drug stores are also significant,
particularly for outpatient services and for providing medications like
naloxone for opioid overdose prevention. Increasing demand for treatment of
substance abuse with improvements in healthcare infrastructure is driving
growth in the Substance Abuse Treatment Market. The increasing influence of
social media and well-established healthcare infrastructure is driving growth
in the market significantly. Rising healthcare expenditure in almost all over
the world is significantly driving growth in the market.
Regional Outlook
On the basis of the regions, the substance abuse treatment market is segmented into 5 parts: Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. North America is the leading segment in substance abuse treatment and is expected to dominate the market during the forecast period. The opioid epidemic in North America has driven the demand for treatment services, making North America the largest market in substance abuse treatment. U.S. and Canada have implemented numerous policies and substantial government funding to tackle substance abuse issues. Programs like Medicaid and Medicare in the U.S. support addiction treatment and encourage rehabilitation services, contributing to the market's growth.
North America has a more developed healthcare system and infrastructure for addiction treatment compared to Asia Pacific. It offers a broad range of treatment options, including medication-assisted therapies. Technological advancements such as telemedicine and mobile apps for addiction recovery are more prevalent in North America. Greater awareness and reduced stigma associated with seeking help for substance abuse. Public health campaigns, media coverage, and support from the medical community encourage more individuals to seek treatment, fueling market growth.
Insurance companies in North America are more likely to provide coverage for
addiction treatment services. The presence of most of the key players in the
North American region is driving the growth in the market significantly.
Well-established healthcare infrastructure in the market is driving growth
significantly. Employee wellness programs being run by companies, which include
mental health programs, are driving growth in the market significantly.
Asia Pacific is also expected to witness significant growth in the market due to rising substance abuse in some countries; economic disparities, lower awareness, and underdeveloped healthcare infrastructure are restricting the growth in the region in comparison to North America. Stigma around addiction and seeking treatment is still high in many parts of Asia-Pacific, which affects the number of people seeking help for substance use disorders.
European countries like Germany, France, Italy, the United Kingdom,
Russia, Norway, Sweden, and Denmark are witnessing significant growth in the
market due to well-established healthcare infrastructure. Technological
advancements in the region are driving growth in the market. Middle East and
Africa, and Latin America, including countries like Brazil, Argentina, Chile,
Venezuela, South Africa, and Egypt, are witnessing significant growth in the
market. Increasing effort by organizations to make the environment stress-free
for people is a driving factor in the market.
Key Players
·
Alkermes
·
Allergan Plc
·
Teva Pharmaceutical Industries Ltd
·
GlaxoSmithKline Plc
·
Glenmark Pharmaceuticals Ltd
·
Pfizer, Inc
·
BioCoRx, Inc
·
Noramco
·
Indivior Plc
·
Mallinckrodt Plc
· Other Players