A prominent research firm, Cognizance Market Research added a cutting-edge industry report on the “Global Substance Abuse Treatment Market”. The report studies the current as well as past growth trends and opportunities for the market to gain valuable insights during the forecast period from 2022 to 2030.
Substance Abuse Treatment Market Analysis:
According to cognizance market research, Global Substance Abuse Treatment Market was valued at US$ 10,123.0 million in 2022 and is anticipated to reach US$ 21,186.1 million by the end of 2030 expected to register a CAGR of 9.7% from 2023 to 2030.
What is Substance Abuse Treatment Market?
The substance abuse treatment market is a global industry that provides services and therapies to people facing substance use disorders. This market is comprised of various service providers such as hospitals, outpatient and residential treatment facilities, and private practices, all of which offer different types of treatment for substance abuse such as behavioural therapy, support groups, and medication-assisted treatment.
The market has experienced significant growth due to government efforts to combat substance misuse, increased public recognition that addiction is a chronic disease requiring long-term management and the development of innovative treatment methods and technologies. Moreover, with more individuals seeking treatment for opioid addiction, the market for substance abuse therapy has expanded.
In a highly competitive market, many players offer a variety of services and therapies to meet the needs of those struggling with substance use disorders. Providers are constantly innovating to improve treatment outcomes and reduce relapse rates. In recent years, there has been a growing focus on integrated treatment approaches that address the complex needs of people with co-occurring mental health and drug use disorders. This has led to the development of novel treatment modalities that offer complete care for substance use disorders by integrating medication, counselling, and support services.
In summary, the substance abuse treatment market plays a crucial role in addressing the global public health issue of substance misuse by helping individuals struggling with addiction to achieve sobriety and reclaim their lives.
Global Substance Abuse Treatment Market Outlook:
The substance abuse treatment market is poised for substantial growth in the near future. This is largely due to the increasing number of individuals with substance use disorders, the recognition of addiction as a long-term condition that requires ongoing therapy, and the rise in government initiatives aimed at preventing substance misuse. The UNODC’s World Substance Report 2021 reports that approximately 275 million people worldwide used drugs in 2020, with opioids being the most dangerous drug in terms of health effects.
The introduction of new technologies and treatment methods, such as pharmacotherapy and digital therapies, is a significant driver of growth in the substance abuse treatment market. Medication-assisted treatment (MAT), which uses drugs like buprenorphine and methadone, has been shown to substantially improve treatment outcomes for individuals with opioid use disorders. In fact, research published in the Journal of Substance Abuse Treatment found that MAT was associated with a 35% reduction in opioid overdose deaths.
Despite challenges such as the high cost of treatment, social stigma, and a shortage of qualified professionals in some areas, the substance abuse treatment market has immense potential for growth. In response to the COVID-19 pandemic, remote treatment services and telemedicine are becoming increasingly common.
In conclusion, the substance abuse treatment market is expected to expand significantly in the coming years. With the increasing number of individuals with substance use disorders, improved understanding of addiction as a chronic condition, and the introduction of innovative treatment methods and technologies, this market has a bright future. While challenges such as high costs and a shortage of qualified practitioners may limit growth, the substance abuse treatment market is poised for success.
Segment Analysis:
Based on treatment type, substance type, end-user, and geography, the market for substance abuse treatment can be divided.
The market can be divided into three categories based on the type of treatment: support groups, behavioural therapy, and medication-assisted treatment. Due to its high success in treating opioid use disorders, medication-assisted therapy is the market leader. An analysis by the Substance Abuse and Mental Health Services Administration (SAMHSA) found a correlation between the use of medication-assisted treatment and a 52 percent decline in opioid overdose fatalities.
Cognitive-behavioural therapy (CBT) and contingency management (CM) are the most widely utilised types of behavioural therapy in the treatment of substance misuse, making up a sizeable portion of the market. Peer support is offered by support groups like Alcoholics Anonymous and Narcotics Anonymous, which have been proven to be successful in maintaining drug and alcohol abstinence.
The market can be divided into categories for alcohol, opioids, stimulants, and other substances based on substance type. Due to the widespread existence of opioid use problems worldwide, opioids are the most common substance category. In 2019, there were over 70,000 drug overdose deaths in the United States, with opioids being responsible for 70% of those deaths, according to the Centres for Disease Control and Prevention (CDC).
Hospitals, outpatient treatment facilities, residential treatment facilities, and private practises can all be classified as end users in the market. Because outpatient treatment is more convenient and affordable than inpatient treatment, outpatient treatment facilities are the market leader.
Geographical Analysis:
Based on geography the Substance Abuse Treatment Market has been segmented into five main regions namely, North America, Asia Pacific, Europe, Latin America, and Middle East & Africa.
The market for substance abuse treatment is currently led by North America due to its high prevalence of drug use disorders, well-established healthcare infrastructure, and wide range of treatment options. According to the National Institute on Drug Abuse (NIDA), it is estimated that over 95,000 Americans will have a substance use problem by 2022.
Europe ranks second in the substance abuse treatment market, driven by government efforts to reduce substance abuse, access to advanced treatment solutions, and increasing rates of substance use disorders. Recent research by the European Monitoring Centre for Drugs and Drug Addiction (EMCDDA) has shown that opioids are the most used drugs in Europe, with a rise in opioid-related deaths.
The Asia Pacific region is experiencing the fastest-growing market for substance abuse treatment due to expanding government programs, rising public awareness of addiction, and increasing rates of substance use disorders. The United Nations Office on Drugs and Crime (UNODC) reports that the number of Asians using opioids has increased by over 80% in the past decade, along with a significant rise in drug-related fatalities.
Overall, North America dominates the substance abuse treatment market, followed by Europe. The Asia Pacific region is quickly catching up due to its expanding government programs and increasing awareness of addiction.
The report offers the revenue of the Global Substance Abuse Treatment Market for the period 2020-2030, considering 2020 & 2021 as a historical year, 2022 as the base year and 2023 to 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the Global Substance Abuse Treatment Market for the forecast period. The Global Substance Abuse Treatment Market report provides insights and in-depth analysis into developments impacting enterprises and businesses on a regional and global level. The report covers the Global Substance Abuse Treatment Market performance in terms of revenue contribution from several segments and comprises a detailed analysis of key drivers, trends, restraints, and opportunities prompting revenue growth of the Global Substance Abuse Treatment Market.
The report has been prepared after wide-ranging secondary and primary research. Secondary research included internet sources, numerical data from government organizations, trade associations, and websites. Analysts have also employed an amalgamation of bottom-up and top-down approaches to study numerous phenomena in the Global Substance Abuse Treatment Market. Secondary research involved a detailed analysis of significant players’ product portfolios. Literature reviews, press releases, annual reports, white papers, and relevant documents have been also studied to understand the Substance Abuse Treatment Market. Primary research involved a great extent of research efforts, wherein experts carried out interviews telephonic as well as questioner-based with industry experts and opinion-makers.
The report includes an executive summary, along with a growth pattern of different segments included in the scope of the study. The Y-o-Y analysis with elaborate market insights has been provided in the report to comprehend the Y-o-Y trends in the Global Substance Abuse Treatment Market. Additionally, the report focuses on altering competitive dynamics in the global market. These indices serve as valued tools for present market players as well as for companies interested in participating in the Global Substance Abuse Treatment Market. The subsequent section of the Substance Abuse Treatment Market report highlights the USPs, which include key industry events (Type launch, research partnership, acquisition, etc.), technology advancements, pipeline analysis, prevalence data, and regulatory scenario.
Global Substance Abuse Treatment Market Competitive Landscape:
The market for global substance abuse treatment market and some recent market developments:
Alkermes Plc reported encouraging toplines results from a Phase 3 study of ALKS 3831 for the treatment of schizophrenia and co-occurring alcohol use disorder in January 2022, which may have the potential to increase the company’s product offerings in the market for drug misuse therapy.
To further diversify its offering in the market for substance abuse treatment, Cipla Ltd. announced the launch of a new medication in December 2021: a sublingual film containing buprenorphine and naloxone for the treatment of opioid dependence.
The generic version of Suboxone (buprenorphine and naloxone) sublingual film was announced by Teva Pharmaceutical Industries Ltd. in October 2021 for the treatment of opioid dependence. This could potentially enhance Teva’s market share in the market for drug addiction therapy.
The report explores the competitive scenario of the Substance Abuse Treatment Market. Major players working in the Substance Abuse Treatment Market have been named and profiled for unique commercial attributes. Company overview (company description, Type portfolio, geographic presence, employee strength, Key management, etc.), financials, SWOT analysis, recent developments, and key strategies are some of the features of companies profiled in the Substance Abuse Treatment Market report.
Segmentation:
Global Substance Abuse Treatment Market, By Treatment Type:
Global Substance Abuse Treatment Market, By Substance Type:
Global Substance Abuse Treatment Market, By End-User:
Global Substance Abuse Treatment Market, by region:
The rising prevalence of substance misuse, government measures to combat substance abuse, and rising public awareness of the advantages of substance abuse treatment are the main factors driving the market for substance abuse treatment. The high cost of medical care and the dearth of healthcare infrastructure in developing nations are constraints.
Behavioural therapy, medication-assisted treatment, and detoxification therapies are a few of the several types of substance abuse treatment options on the market. The most popular form, with the highest market share is medication-assisted therapy.
Treatment for substance misuse can be administered orally, intravenously, or topically. Where oral administration will continue to be the dominant mode of administration.
Treatment for substance misuse can be administered orally, intravenously, or topically. Where oral administration will continue to be the dominant mode of administration.
Hospitals and clinics, residential treatment facilities, and outpatient treatment facilities are just a few examples of the diverse end consumers of substance abuse therapy. The largest end user is expected to be hospitals and clinics.
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