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on May 13, 2024
The global substance abuse treatment market covers both legal and illegal substances that people can become addicted to, such as alcohol, tobacco, opioids, cannabis and other illicit drugs. Substance abuse treatment aims to help people end their substance use disorder through various options like medication, counseling, community support groups and long-term recovery plans. The growing use of substance has led to rising numbers of people suffering from substance use disorders. There is an ongoing effort by both public and private organizations to enhance access to effective treatment and help curb the prevalence of addiction disorders.
The Global Substance Abuse Treatment Market is estimated to be valued at US$ 11.8 Bn in 2024 and is expected to exhibit a CAGR of 8.5% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the global substance abuse treatment market are Indivior PLC, Pfizer, Inc., Johnson & Johnson Inc., Alkermes., Mallinckrodt Pharmaceuticals, Teva Pharmaceuticals, Inc., Par Pharmaceutical, Inc., USWM, LLC, Valeant Pharmaceuticals, Greenyard Pharmaceutical Ltd. Cipla Health Limited. Perrigo, Haleon Group of Companies, Ventus Medical, Glenmark and other prominent players. Major players are increasingly focusing on developing novel Global Substance Abuse Treatment Market Size through drug innovation and advancement of evidence-based psychosocial interventions.
The growing demand for substance abuse treatment is driven by the rising prevalence of addiction disorders across both young and old populations. According to WHO, around 235–270 million people used illicit drugs worldwide in 2020. The growing consumption of cannabis for medical as well as recreational purposes has also spurred the need for advanced safety & efficacy-based treatment solutions.
Technological advancements are also fueling market growth. New technologies allow for more accurate diagnosis and assessment of substance abuse disorders. Digital therapeutics and mobile health solutions help enhance access, engagement and outcomes of treatment programs. Wearable devices and sensors enable remote monitoring to optimize care and support continuing recovery.
Market Trends
Development of novel medications - Major players are investing in R&D of innovative medications to widen the scope of treatment options. Novel formulations and drug delivery methods hold promise to improve efficacy and medical management of withdrawal symptoms.
Integration of digital and virtual methods - The COVID-19 pandemic has accelerated the shift to telehealth and digital models of care. Technology assisted counseling, remote patient monitoring, online mutual support groups etc. are augmenting traditional in-person treatment approaches.
Market Opportunities
Growing focus on medication assisted treatment (MAT) - MAT includes use of FDA approved medications along with counseling and behavioral therapies. Expanding indications of MAT is expected to boost its adoption and accessibility over the forecast period.
Increased insurance coverage and decriminalization of substances - Favorable regulatory reforms promoting comprehensive recovery support services present major opportunities in the substance abuse treatment market.
Global Substance Abuse Treatment Market
The COVID-19 pandemic has significantly impacted the growth of the global substance abuse treatment market. The pandemic restriction led to increased social isolation and anxiety among individuals. This increased stress levels and contributed to substance abuse disorders. However, lockdowns also restricted the availability of substances like alcohol and opioids. Physical rehabilitation and counseling programs were also temporarily halted during lockdowns. The demand for telehealth and online therapy services significantly increased during this period to continue treatment. As restrictions are being lifted, in-person treatment programs are resuming operations. However, the after-effects of the pandemic on mental health are expected to continue driving the need for substance abuse treatment in the coming years. The market is anticipated to witness steady growth as treatment programs integrate telehealth and digital solutions on a permanent basis.
North America has been the largest regional market for substance abuse treatment in terms of value. This can be attributed to the growing incidence of substance abuse disorders, rising awareness about available treatments, favorable reimbursement policies, and presence of key market players in the region. However, Asia Pacific is projected to be the fastest growing regional market during the forecast period. This growth can be credited to factors like rising healthcare expenditure, growing middle-class population with increased spending power, increasing consumption of alcohol and illicit drugs, and government efforts to boost treatment infrastructure and availability in developing countries.
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