Substance Abuse Treatment Market Size Worth USD 10.99 Billion by 2030 at 11.60% CAGR – Report by Market Research Future (MRFR)

New York, USA, May 26, 2023 (GLOBE NEWSWIRE) — Substance Abuse Treatment Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR), “Substance Abuse Treatment Market Information by  Type, End User and Region – Forecast till 2030”, the market size was valued at USD 5.1 billion in 2022 and is projected to grow from USD 5.69 Billion in 2023 to USD 10.99 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 11.60% during the forecast period (2023 – 2030).

Market Scope:

Alcohol has been consumed across the globe for ages and is a psychoactive drug with addictive properties. Alcoholism has significant negative social and economic effects in addition to a high disease burden. Significant noncommunicable diseases such liver cirrhosis, some malignancies, cardiovascular diseases, mental and behavioral disorders, and alcohol dependency are all associated with an elevated chance of development when drinking alcohol. The government is taking the lead in raising awareness of the issues with alcohol and drug addiction.

If left untreated, substance abuse is a risky, chronic disorder that will only get worse. Drug addiction treatment helps people with substance use disorders find hope again and start along the road to long-term recovery. To get alcohol and other narcotics out of their systems, almost everyone with an addiction needs to go through detox. The type of substance used, the amount and frequency of use, the presence of an addiction disorder, and the effects of the disorder on the individual all typically influence the treatment options.

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Report Scope:

Competitive Dynamics:

Key Companies in the market of Substance Abuse Treatment includes

• Pfizer Inc.
• Alkermes Plc
• GlaxoSmithKline Plc.
• Purdue Pharma LP
• Allergan
• Mylan Laboratories
• Reckitt Benckiser Pharmaceuticals
• Teva Pharmaceuticals
• Forest Laboratories
• Accord Healthcare

Substance Abuse Treatment Market Trends:

Market Drivers

Due to reasons like growing public awareness of available therapies and an increase in the prevalence of substance addiction problems, the sector is expanding quickly. Additionally, industry growth is anticipated to be fueled by favorable government measures such drug awareness campaigns and preventive programs over the projection period. The use of alcohol, prescription or over-the-counter medications, or illegal drugs for purposes other than those for which they were intended or in excessive doses is referred to as substance abuse. A growth in the number of illnesses connected to substance use was the impetus for the development of drug misuse treatment. As drug addiction becomes more common, technological innovation in the diagnostics industry will also support market expansion.

The government is taking the lead in raising awareness of the issues with alcohol and drug addiction. The development, gathering, and dissemination of scientific information on alcohol use, dependence, and related health and social consequences, as well as the creation, implementation, and evaluation of cost-effective interventions for harmful alcohol use, are priorities for the government and regulatory bodies.

The use of habit-forming drugs or substances in a compulsive, excessive, and self-destructive manner can lead to addiction, dependency, severe physical harm, psychological impairment, or even death. The Global Substance Abuse Treatment Market is being driven by increased patient awareness, a higher rate of treatment seeking, more government involvement, and incentives to reduce substance use in all countries.

Market Restraints

But the lack of access to treatment options, the end of behavioral therapies, and poor treatment compliance in some nations limit the development of the market under study.

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COVID-19 Analysis:

Following the recommendations of the Centers for Disease Control and Prevention (CDC), the Food and Drug Administration (FDA), and the World Health Organization in response to the Covid-19 pandemic, rehabilitation facilities have taken the necessary actions to improve the prognosis of patients with co-occurring conditions like chronic obstructive pulmonary disease, cardiovascular disease, and other respiratory diseases. Additionally, substance abuse affects a sizable number of people in the United States each year. Government agencies all over the world have taken the appropriate actions to ensure that patients can obtain substance misuse treatment as a result of the COVID-19 epidemic. This is because COVID-19 worsens the prognosis of patients’ co-occurring conditions, such as chronic obstructive pulmonary disease, cardiovascular disease, and other respiratory diseases, which has a detrimental effect on patients who are drug- and alcohol-dependent.

Substance Abuse Treatment Market Segmentation:

Type Insights

According to data from the substance abuse treatment market, the cigarette and drug segment retained the largest share in 2022. One of the key factors driving the market’s growth is the rise in cigarette and drug usage among adults. Additionally, one of the main primary drivers of the segment is the increase of international initiatives to educate the addicted people.

End User Insights

In terms of revenue, the outpatient treatment centers segment dominated the substance abuse treatment market in 2022 and is anticipated to increase at a quicker rate from 2022 to 2030.

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Substance Abuse Treatment Market Regional Analysis:

The market for substance abuse treatment in North America, which is predicted to develop at a substantial CAGR throughout the study period, is expected to reach USD 2.4 billion in 2022 with a share of about 45.80%. Major factors contributing to the market expansion in this region include the expanding population exposed to addiction, the legalization of marijuana in numerous states, well-organized reimbursement policies, and the developed healthcare sector with efficient therapies for drug addiction.

The second-largest market share belongs to the market for substance abuse treatment in Europe. A significant section of the population in European nations suffers from alcohol and tobacco addiction, which is a serious public health concern. Numerous efforts have been launched to assist various awareness-raising activities, and these projects have been made possible by donations from people, companies, and charitable organizations. Through these activities, the market for de-addiction therapies is being expanded in this area.

From 2022 to 2030, the Asia Pacific Substance Abuse Treatment Market is anticipated to experience the quickest CAGR growth. The rising number of persons dependent on alcohol, marijuana, cigarettes, cocaine, and other harmful items is one of the causes contributing to the market growth in this area. Additionally, one of the key factors driving the market’s growth in this region is the increase in drug awareness campaigns and related preventive programs. Additionally, the region’s fastest-growing market for substance abuse treatment was India, while the China market had the biggest market share.

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