Substance Abuse Treatment Market Share, Application and Size Analysis by Abuse Type (Alcohol Dependence, Tobacco and Drug Abuse), Treatment (Alcohol Addiction (Disulfiram, Acamprosate), Nicotine Addiction and Drug Abuse), Key Players and Region, Forecast to 2023
Market Overview:
The global Substance Abuse Treatment Market size is projected to grow at a CAGR of 11.6% between 2018 and 2023, says Market Research Future (MRFR). Substance abuse treatment market is expected to propel growth based on increasing cigarette and alcohol consumption, along with other illicit drugs, better treatment-related awareness, an increasing number of curing centers, government initiatives. The diagnostic and treatment industry is also spending a significant amount of their funds for a better understanding of the problem, which inspires significant growth for the substance abuse treatment market.
However, the substance abuse treatment market can be hindered by poor treatment compliance and lack of enthusiasm from substance abusers can deter market growth in the coming years.
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Substance Abuse Treatment Market Segmentation:
The global substance abuse treatment market is segmented by abuse type, treatment type, and end user to bring out various insights and impact the regional market growth. There are inputs regarding factors as well to make sure the analysis becomes a comprehensive one.
By type, the substance abuse treatment market is segmented into tobacco/nicotine addiction, alcohol dependence, and drug abuse. The drug abuse segment has the maximum market coverage.
By treatment type, the substance abuse treatment market is segmented into tobacco/nicotine addiction treatment, alcohol addiction treatment, and drug abuse treatment. The alcohol addiction treatment segment includes acamprosate, disulfiram, and naltrexone. The tobacco/nicotine addiction treatment segment has better market coverage over nicotine replacement treatment, and non-nicotine medication. The nicotine replacement treatment segment includes nicotine gum, nicotine patch, nicotine spray, nicotine lozenge, and nicotine inhaler. The non-nicotine medication segment relies on bupropion and varenicline. The drug abuse treatment segment incorporates methadone, buprenorphine, and naltrexone.
By end user, the substance abuse treatment market is segmented into residential treatment centers, outpatient treatment centers, and inpatient treatment centers.
Substance Abuse Treatment Market Regional Analysis:
The Americas is getting significant traction for it as the regional market is witnessing many people registering substance abuse problems. In 2017, it was the largest market. Automation, technological advancement, and better availability of treatment centers are major reasons behind the regional market growth. The regional market is benefiting from high level of awareness and better acceptance rate of the procedures. In 2017, Europe stood second in the global index and is fetching in substantial amount of revenue by investing mostly in the research and development sector. These
As per the report of 2017, the Asia Pacific market is the fastest growing one. The regional market is going to get impacted by various emerging economies who are spending substantially to revamp the healthcare segment. This creates opportunities for the market to set its expansion plans. The region is witnessing a hike in tobacco addiction and other substance abuse. China’s public health is facing a significant challenge that can trigger better outcomes for the market. However, lack of awareness can also be a worry for many.
Low per capita income and lack of infrastructure are expected to limit the Middle East & Africa market from having a notable growth during the forecast period.
Substance Abuse Treatment Market Competitive Landscape:
There are several companies that are trying to leverage various features of the market for their own profit. The process includes tactical moves on the part of these companies who deploy methods like a merger, tie-ups, acquisition, and others. MRFR included a number of companies in the market report to get an idea of how the market is expected to work in the future.
Key Players:
The prominent players in substance abuse treatment market include Alkermes Plc, Pfizer Inc., Purdue Pharma LP, GlaxoSmithKline Plc., Reckitt Benckiser Pharmaceuticals, Allergan, Mylan Laboratories, Forest Laboratories, Inc., Teva Pharmaceuticals, Amphastar Pharmaceuticals, Accord Healthcare, BioCorRx, Apotex, Glenmark, Cipla, LFB Group, INSYS Therapeutics, Opiant Technologies, Lupin, Sanquin, Sanofi Aventis, Sun Pharmaceuticals, Sterinova, and others.
In October 2019, the northwest suburbs of Chicago received their first addiction treatment center that is specifically dedicated to the LGBTQ community as researchers in the region has realized that the number of LGBTQ people suffering from substance abuse problem is quite high. The institute is “Out in Recovery” in Lake Villa that is offering high-end technologies to treat people and bring them back to a better life.
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