Substance Abuse Treatment Market Overview
The global substance abuse treatment market could expect significant growth at the rate of 11.6% during the forecast period (2018-2023), suggests Market Research Future (MRFR).
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Substance Abuse Treatment Market Drivers and Key Barriers
Few crucial factors backing the market growth include the rising number of addicted people, rising number of drug awareness campaigns and prevention programs, and technological innovations in the diagnostics industry.
The drug awareness campaigns, as well as related prevention programs, include a surge in patient awareness, boost in treatment-seeking rate backed by growth in government intervention, and increasing focus on curbing curb substance abuse in numerous countries. There has been a rise in successful treatment of substance abuse with new medications that prevent relapse and also control drug cravings. These factors could be instrumental in the future market growth.
The hike in number of treatment centers that collaborate with private recovery facilities is penetrating the market, which helps with the expansion of treatment access to a burgeoning population. This could work in favor of the market in the coming years. An additional factor promoting market growth could be the rise in technological advancement within the diagnostics industry.
Substance Abuse Treatment Market Segmentation
The global substance abuse treatment market is segmented based on abuse type, treatment type, and end user.
The market, considering the abuse type, covers alcohol dependence, tobacco/nicotine addiction, and drug abuse. The drug abuse segment covers the largest share due to the rising addiction of opioid across the globe.
The market, depending on the treatment type, is segmented into alcohol addiction treatment, tobacco/nicotine addiction treatment, and drug abuse treatment. The alcohol addiction treatment segment is sub-segmented into disulfiram, acamprosate, and naltrexone. The tobacco/nicotine addiction treatment segment is further considered for nicotine replacement treatment and non-nicotine medication. The nicotine replacement treatment segment covers nicotine patch, nicotine gum, nicotine lozenge, nicotine spray, and nicotine inhaler. The types of non-nicotine medication are bupropion and varenicline. The drug abuse treatment segment is further classified as methadone, buprenorphine, and naltrexone.
The end users mentioned in the report are outpatient treatment centers, residential treatment centers, and inpatient treatment centers.
Substance Abuse Treatment Market Regional Insight
The primary markets for substance abuse treatment are Europe, the Americas, Middle East & African and Asia Pacific.
In 2017, the Americas was identified as the leading substance abuse treatment market. The market’s prominence is the result of the presence of esteemed players, coupled with the mounting awareness about substance abuse treatment. In the past few years, several private, as well as government organizations, have been launching campaigns and seminars with the aim of spreading awareness about substance abuse. This works wonders for the regional market. Citing a reference, in February 2017, the Ad Council, along with Viacom, launched the LISTEN campaign which spoke about America’s substance abuse crisis.
In 2017, it was estimated that Europe stood second in the global substance abuse treatment market. The regional market benefits from the rise in research and development investments as well as increasing number of initiatives by the government to treat substance abuse patients.
With the fastest growth rate in the market in 2017, Asia Pacific is soaring high on the back of growing incidences of tobacco addiction coupled with the surge in technological advancements. The Frontiers in Psychiatry journal reveals that China faces massive public health challenge due to progressing tobacco smoking. It is reported that the number of deaths by cigarette smoking could reach the valuation of 2 million by 2030 and finally reach 3 million by 2050.
Lastly, Middle East and Africa accounted for the smallest share in the global substance abuse treatment market. The low per capita income, particularly in Africa, could be the main reason for the lackluster market performance.
Substance Abuse Treatment Market Key Vendors
The key vendors in the worldwide substance abuse treatment market include Sun Pharmaceuticals, GlaxoSmithKline Plc., Accord Healthcare, Mylan Laboratories, Pfizer Inc., Alkermes Plc, Forest Laboratories, Inc., Glenmark, Cipla, Purdue Pharma LP, Reckitt Benckiser Pharmaceuticals, BioCorRx, Sanofi Aventis, LFB Group, Lupin, Opiant Technologies, Teva Pharmaceuticals, Apotex, Sanquin, Sterinova, Allergan, INSYS Therapeutics, Amphastar Pharmaceuticals, and others.
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The Department of Health and Human Services (DHHS) will be launching a pilot project in Washington County, which will offer treatment services for those going through substance abuse. This will have a central coordinating telephone system that can help the residents will get access to the services that are related to substance abuse treatment.
Bukwang Pharmaceutical, a South Korean company, has gained the license from Novartis to sell Sebivo, its proprietary Hepatitis B drug. The company has attained distribution rights for liver disease adjuvants and for treating all liver diseases giving it a sizeable foothold in the Hepatitis B treatment market.
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