Global Substance Abuse Treatment Market Size/Share Estimated to Reach US $22.01 Billion By 2032, at 8.1% CAGR: Polaris Market Research

New York, NY, May 16, 2023 (GLOBE NEWSWIRE) — Polaris Market Research has published a new research report titled “Substance Abuse Treatment Market Share, Size, Trends, Industry Analysis Report, By Treatment Type (Drug Abuse, Alcohol, Tobacco/Nicotine, Others); By End-Use; By Region; Segment Forecast, 2023 – 2032” in its research database.

“As per the latest research analysis, the global substance abuse treatment market size/share will be valued at roughly USD 10.14 Billion in 2022, and its revenue is projected to reach about USD 22.01 Billion by 2032. The market is forecasted to expand at a compound annual growth rate of approximately 8.1% between 2023 and 2032.”

What is Substance Abuse Treatment? How Big is Substance Abuse Treatment Market Size & Share?

Addiction is a harmful disorder that can affect many areas of a person’s life, and it gets worse over time without treatment. The addiction can be mild, moderate, or severe. A substance use disorder affects 20% of Americans who have depression or an anxiety disorder. Treatment of drug addiction requires an in-depth evaluation and usually involves counseling from a psychiatrist, a psychologist, or a drug counselor.

Drug use is assessed through lab tests such as blood and urine, which helps in monitoring treatment and recovery. A drug use disorder can arise due to a number of different reasons and risk factors. These might include genetics, easy access to drugs or alcohol, family conflict or violence, low parental monitoring, and others. Increased adult usage of illicit drugs, as well as excessive alcohol and tobacco use, is propelling the substance abuse treatment market size.

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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)

Our Sample Report Covers:

• 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
• 115+ Pages Research Report (Inclusion of Updated Research).
• Provide Chapter-wise guidance on Requests.
• 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
• Includes Updated List of tables & figures.
• Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.

Some of the Top Market Players Are:

• INSYS Therapeutics
• Teva Pharmaceutical
• Sun Pharma
• Glenmark
• Sanofi Aventis
• Sterinova
• Apotex
• BioCorRx
• Opiant Technologies
• Accord Healthcare
• Mylan Laboratories
• Cipla
• LFB Group
• Lupin
• Amphastar Pharmaceuticals
• Sanquin

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Prominent Growth Driving Factors

• Rising awareness and prevalence of substance abuse disorders: Substance abuse disorders have become more prevalent globally. The rising awareness about the treatments and increasing prevalence of substance abuse disorders shows a growing recognition of the significance of these issues and the need for effective interventions. This factor is driving the substance abuse treatment market growth.
• Media-driven awareness campaigns: Favorable awareness campaigns by non-profit organizations and national governments via media such as magazines, television, and newspapers to create awareness about substance abuse treatment are expected to fuel market growth.
• Growing demand for effective substance abuse treatments: The widespread availability of drugs and other substances has become a major concern in today’s world. Substance abuse disorder can have a negative impact on the patient. Thus, a greater demand for effective treatments for the condition is boosting the industry expansion.
• Government-led awareness initiatives: In developing and developed nations, governments are introducing awareness initiatives about the negative effects of substance abuse and are trying to advise people to get early treatment which is expected to foster substance abuse treatment market growth.

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Top Report Findings

• Rising prevalence of substance abuse disorder and increased awareness about treatments for this disease is fueling the market growth.
• The market is segmented based on treatment type, end-use, and region.
• North America is expected to grow at the highest CAGR in market

Recent Trends Influencing the Market

• Support of government bodies: Every year, on May 31st, the World Health Organization (WHO) commemorates World No Tobacco Day with the aim of increasing awareness about the health hazards linked to tobacco usage. Additionally, in June 2021, DC Health initiated MyRecoveryDC, a public education campaign designed to enhance access to substance abuse treatment and recovery services.
• Advancements in substance abuse treatment: Developments in medical technology and treatment methods have enhanced the effectiveness and accessibility of substance abuse treatment. Accessing and receiving effective treatment has become more convenient for individuals owing to the introduction of innovative medications, therapies, and digital tools. Thus, the rising number of available treatment options is likely to positively influence the substance abuse treatment market sales growth during the forecast period.

Segmental Analysis

• Drug abuse segment is predicted to account for the largest substance abuse treatment market share

Based on treatment type, the drug abuse category is projected to hold the major market share during the foreseen period. This industry offers medical care for compulsive habits and behaviors that involve excessive and self-destructive drug or alcohol use, which can result in addiction or dependency. Drug abuse is associated with a significant risk of physiological issues related to heart, kidney, and liver damage as well as psychiatric distress such as hallucinations, memory loss, and abnormal behavior patterns. Furthermore, the growing use of illicit substances/prescription medications increased R&D by pharmaceutical firms, and the rise in mortality from too much drug use are some of the crucial substance abuse treatment market trends accelerating the segment growth.

• Hospitals’ segment dominated the market

By end-use substance abuse treatment market segmentation, the hospital’s segment registered the highest revenue share owing to social stigmatization, which causes patients to delay detection and treatment, resulting in severe addiction cases that require hospitalization for proper addiction treatment. Furthermore, people with substance abuse are expected to develop other health issues such as stroke, cancer, HIV/AIDS, cardiovascular disease, Hepatitis B and C, lung disease, and mental illnesses.

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Substance Abuse Treatment Market: Report Scope and Segmentation

Geographic Overview

North America: The region is anticipated to show the greatest CAGR in the coming years due to the growing frequency of substance use disorders, increasing government initiatives, and rising understanding of the significance of seeking treatment.  The growing market of substance abuse treatment in North America provides services and treatments to people suffering from addiction, such as medication-assisted treatment, counseling, and detoxification.

Asia Pacific: Furthermore, the substance abuse treatment market in the Asia Pacific region is anticipated to grow at the fastest rate throughout the projection period owing to the growing major players’ presence in Asian nations, the development of healthcare infrastructure, and supportive government programs targeted at encouraging the acceptance of treatment for drug, alcohol, and nicotine addiction.

Browse the Detail Report “Substance Abuse Treatment Market Share, Size, Trends, Industry Analysis Report, By Treatment Type (Drug Abuse, Alcohol, Tobacco/Nicotine, Others); By End-Use; By Region; Segment Forecast, 2023 – 2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/substance-abuse-treatment-market        

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Recent Developments

• In November 2022, Opiant Pharmaceuticals and Indivior PLC decided to strengthen and expand Indivior’s position in the addiction treatment industry.
• In June 2021, together, INDIVIOR PLC and AELIS FARMA announced an option-license agreement to address the serious repercussions of cannabis use disorders (CUD), including cannabis-induced psychosis (CIP).

The Key Questions Answered in This Report

• What will be the market size and growth rate in the forecast year?
• What are the key factors driving the industry?
• What are the main trends that are positively impacting the market growth?
• What growth opportunities does the market offer?
• What are the key outcomes of Porter’s five forces model?
• What are the names of key players working in the industry?
• What growth strategies are the companies considering to stay in the market?

Polaris Market Research has segmented the substance abuse treatment market report based on treatment type, end-user, and region:

By Treatment Type Outlook

• Drug Abuse
• Alcohol
• Tobacco/Nicotine
• Others

By End-Use Outlook

• Hospitals
• Clinics
• Rehabilitation Centres
• Others

By Region Outlook

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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About Polaris Market Research:

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