Global Substance Abuse Treatment Market is Anticipated to Witness High Growth Owing to Rising Prevalence of Substance Abuse Disorder

Global Substance Abuse Treatment Market  

Substance abuse treatment involves the use of various medications, therapies, counseling sessions and behavioral therapies to treat substance abuse disorders and help patients overcome addiction and dependency issues. The prominence of substance abuse has seen a substantial rise over the past few years, prompting heightened demand for effective treatment solutions. Substance abuse treatment aims to help patients recognize damaging behaviors and beliefs and replace them with coping strategies that don't involve substance use. Some common treatment approaches include detoxification, individual counseling, group therapy, medication assisted treatment, family therapy and peer support groups.

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 of 2024 to 2031.

Key Takeaways

Key players operating in the global substance abuse treatment 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 pharmaceutical players are engaged in extensive research and development activities to develop novel formulations for more effective Global Substance Abuse Treatment Market Size disorders.

The market provides numerous opportunities for players involved in developing advanced medication-assisted treatment drugs such as new formulations, drug combinations and novel treatment delivery methods. Market players are focusing on expanding their global operations especially in emerging regions of Asia Pacific, Middle East, Africa and Latin America where awareness about substance abuse treatment is on the rise.

The rising global prevalence of substance use disorders has prompted several substance abuse treatment providers and healthcare institutions to expand their services to other countries. Launching global programs and developing strategic partnerships with overseas facilities has become a key business strategy adopted by major players to penetrate international markets and cater to the growing needs of patients.

Market Drivers

Rising Prevalence of Substance Abuse Disorder: As per WHO data, around 276 million people worldwide use drugs at least once a year. The increasing cases of prescription drug and opioid abuse has been a major factor driving the need for effective treatment options.

Growing Acceptance of Medication-assisted Treatment: Medications like buprenorphine and methadone in conjunction with counseling have proven to be highly effective in promoting recovery. Higher success rates of medication-assisted treatment are encouraging more patients to opt for this approach.

Market Restraints

Limited Access to treatment in Low and Middle-Income Countries: Availability of substance abuse treatment services remains limited in underdeveloped and developing nations due to lack of clinics, trained healthcare professionals and poor funding from local governments for supporting treatment programs. This acts as a major roadblock in market growth.

Social Stigma Associated with Substance Use Disorders: Seeking help for substance abuse often involves overcoming social stigma. Many affected individuals refrain from seeking care due to negative perceptions surrounding addiction within their communities.

Segment Analysis

The global substance abuse treatment market is dominated by the outpatient treatment segment. Outpatient treatment offers a cheaper and more convenient alternative to inpatient treatment and residential programs. Some benefits of outpatient treatment include the ability to maintain employment and family responsibilities while seeking treatment. Due to lower costs and wider accessibility, outpatient treatment has emerged as the preferred option for individuals struggling with substance abuse issues.

Global Analysis

North America dominates the global substance abuse treatment market with the highest revenue share. This is due to rising alcoholism and drug addiction in the United States. Increasing healthcare spending, favorable reimbursement policies, and availability of advanced treatment options also contribute to North America's large market share. Asia Pacific is projected to expand at the fastest pace during the forecast period. Rapid urbanization, growing youth population, and rising social acceptance of substance abuse are driving the Asia Pacific market. China, India, Japan, and South Korea are expected to offer lucrative opportunities for players in the regional substance abuse treatment market.

Get More Insights On- Global Substance Abuse Treatment Market Size

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