Dublin, Jan. 31, 2024 (GLOBE NEWSWIRE) — The “Global Substance Abuse Disorder Treatment Market Analysis & Forecast 2024-2034: Market By Treatment; By End-user; and By Region” report has been added to ResearchAndMarkets.com’s offering.
The global substance abuse disorder treatment market size was estimated to be USD 11.46 billion in 2023 and is expected to reach at USD 34.13 billion by 2034 with a CAGR of 10.43% during the forecast period 2024-2034
Rising prevalence of substance abuse disorders, growing awareness regarding the treatments, increasing supportive government initiatives such as drug awareness campaigns & prevention programs, surge in prevalence of opioid use disorders, rising adoption of Nicotine Replacement Therapy (NRT), increasing technological developments in therapies, surge in launch of awareness programs are some of the major elements driving the market’s expansion.
Surge in launch of awareness programs is predicted to boost the market growth during the forecast period. The growing prevalence of addiction within the population underscores the importance of raising awareness about the dangers posed by illegal drugs to one’s health. Both public and private entities are consistently dedicated to arranging campaigns and initiatives aimed at educating individuals about the adverse consequences of substance abuse.
These efforts also aim to encourage addicts to seek addiction treatment. For instance, in March 2022, The Texas Health and Human Services department has initiated a public awareness campaign with a budget of $23.2 million. The campaign aims to prevent substance abuse disorders and facilitate access to addiction treatment and related services.
By treatment, tobacco/nicotine & vaping was the highest revenue-grossing segment in the global substance abuse disorder treatment market in 2023 owing to rising prevalence of tobacco addiction among the population, surge in impairment of the lungs & decreased lung function, growing need for addiction treatment for various health conditions, increasing strategic initiatives by several market players, and rising launch of new products.
For instance, in February 2023, Sesh+, a company focused on smoking cessation and committed to preventing addiction while offering treatment, has created nicotine replacement therapy (NRT) products in flavors like cinnamon, pomegranate, and wintergreen to encourage the use of treatment. Additionally, alcohol is predicted to grow at fastest CAGR during the forecast period owing to its rising consumption, easy availability, & increased acceptability in society, growing prevalence of chronic diseases, and increasing launch of new products by major market players.
By end-user, hospital was the highest revenue-grossing segment in the global substance abuse disorder treatment market in 2023 owing to the delayed diagnosis of the illness due to social stigmatization among patients causing unwillingness to receive treatment, which frequently leads in severe addiction cases requiring hospitalization to provide the user with the necessary addiction therapies and hospitals serving as major treatment facilities for people with long-term drug use problems who frequently acquire comorbid illnesses such cancer, heart disease, stroke, lung disease, HIV/AIDS, Hepatitis B & C, & mental disorders.
Additionally, rehabilitation centers is predicted to grow at fastest CAGR during the forecast period owing to heading to a rehabilitation clinic is a better option for people who have to go through long-term addiction therapy, which can last anywhere from six months and a year or more and increasing collaborations within market players, and surge in launch of advanced treatment. For instance, in February 2023, Jovive Health has introduced Medication-Assisted Treatment (MAT) aimed at alleviating the impact of opioid dependence in individuals diagnosed with Opioid Use Disorders (OUD).
North America region is anticipated for the highest revenue share during the forecast period owing to the increasing number of people exposed to addiction, rising reimbursement policies, surge in nicotine addiction among population, growing government initiatives aimed at reducing substance abuse, and increasing product approvals by regulatory bodies.
Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising focus on spreading awareness regarding the serious threats associated with substance abuse, growing healthcare infrastructure, surge in prevalence of tobacco, alcohol, & opioid addiction, increasing government initiatives for the adoption of improve treatment for drug addiction.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 145 |
| Forecast Period | 2023 – 2034 |
| Estimated Market Value (USD) in 2023 | $11.46 Billion |
| Forecasted Market Value (USD) by 2034 | $34.13 Billion |
| Compound Annual Growth Rate | 10.4% |
| Regions Covered | Global |
Company Profiles
- Novartis AG
- Viatris Inc.
- Abbott
- JB Chemicals & Pharmaceuticals Ltd
- GSK plc.
- Jovive Health
- Lilly (Eli Lilly and Company)
- Cipla Inc.
- AstraZeneca
- NFL Biosciences
- Sun Pharmaceutical Industries Ltd.
- Dr. Reddy’s Laboratories Ltd.
- Teva Pharmaceutical Industries Ltd.
Segmentation: Substance Abuse Disorder Treatment Market Report 2022 – 2033
Substance Abuse Disorder Treatment Market Analysis & Forecast by Treatment 2023 – 2034 (Revenue USD Bn)
- Synthetic Cannabinoids
- Marijuana
- Alcohol
- Tobacco/Nicotine & Vaping
- Prescription and Over-the-counter Medications
- Others
Substance Abuse Disorder Treatment Market Analysis & Forecast by End-user 2023 – 2034 (Revenue USD Bn)
- Rehabilitation Centers
- Clinics
- Hospitals
- Others
Substance Abuse Disorder Treatment Market Analysis & Forecast by Region 2023 – 2034 (Revenue USD Bn)
North America
- U.S.
- Canada
Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
Middle East & Africa
- South Africa
- GCC
- Rest of MEA
For more information about this report visit https://www.researchandmarkets.com/r/i6jlg0
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