PUBLISHER: The Business Research Company | PRODUCT CODE: 1436718
PUBLISHER: The Business Research Company | PRODUCT CODE: 1436718
Substance abuse involves compulsive substance use leading to social, occupational, legal, or interpersonal issues, while addiction entails psychological or physical dependence on substances, whether illegal, prescription, or over-the-counter, used excessively or for unintended purposes.
Substance abuse and addiction treatment primarily address alcohol dependence, tobacco or nicotine addiction, and various other forms of drug abuse. Drug abuse involves the consumption of specific chemicals aiming to induce pleasurable effects on the brain. Treatment modalities encompass alcohol addiction treatment, tobacco or nicotine addiction treatment, opioid addiction treatment, among others. These treatments are often distributed through hospital pharmacies, retail pharmacies, and other channels.
The substance abuse and addiction treatment market research report is one of a series of new reports from The Business Research Company that provides substance abuse and addiction treatment market statistics, including substance abuse and addiction treatment industry global market size, regional shares, competitors with a substance abuse and addiction treatment market share, detailed substance abuse and addiction treatment market segments, market trends and opportunities, and any further data you may need to thrive in the substance abuse and addiction treatment industry. This substance abuse and addiction treatment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The substance abuse and addiction treatment market size has grown rapidly in recent years. It will grow from $10.54 billion in 2023 to $11.67 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. The growth observed in the historic period can be attributed to several factors including increased awareness and destigmatization surrounding mental health and addiction, governmental initiatives and funding, evolving healthcare policies that encompass mental health, advancements in therapeutic approaches, and the integration of mental health and addiction treatments into comprehensive healthcare frameworks. These elements collectively contributed to the growth and development observed within the mental health and addiction treatment sectors during that period.
The substance abuse and addiction treatment market size is expected to see rapid growth in the next few years. It will grow to $17.4 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. The anticipated growth in the forecast period is likely due to the increase in substance abuse cases, an emphasis on tailored and personalized treatment plans, efforts to expand access to treatment services, the integration of telehealth and remote services, and a growing advocacy for mental health awareness.
The prevalence of alcohol use disorders is anticipated to bolster the substance abuse and addiction treatment market. Increased alcohol consumption, evidenced by a significant rise reported by RTI International, has fueled demand for treatment services. The data indicates a 39% increase in alcohol consumption between February and November 2020, indicating a growing need for substance abuse and addiction treatment.
The escalating cases of substance abuse are anticipated to drive the substance abuse and addiction treatment market. Data from the Substance Abuse and Mental Health Services Administration reveals a significant prevalence, with approximately 48.7 million individuals in the US experiencing a substance use disorder (SUD) in 2022. Among them, 29.5 million had an alcohol use disorder (AUD), 27.2 million had a drug use disorder (DUD), and 8.0 million individuals faced both AUD and DUD. This rise in substance abuse cases underscores the growing need for treatment services.
Product innovation stands out as a prominent trend in the substance abuse and addiction treatment market. Major players are focused on developing groundbreaking solutions to solidify their market positions. For instance, in September 2021, Lyra Health, a US-based provider of innovative mental healthcare benefits, launched Lyra Reset-an integrated care solution. This solution incorporates virtual counseling, digital lessons, and medication to address alcohol use disorder (AUD) and other complex mental health conditions, aiming to mitigate stigma and offer effective support.
Major companies are focusing on developing innovative solutions such as virtual addiction treatment programs. These programs leverage online platforms or digital technologies to deliver therapeutic interventions and support services to individuals dealing with addiction. For example, in January 2023, The Wellness Community launched the PATH Program-a virtual initiative offering drug screenings, counselor discussions, and engagement with behavioral health coaches. The program aims to reach rural communities and reduce overdose deaths.
In November 2021 witnessed Odyssey Behavioral Healthcare, a US-based mental health services provider, acquiring CIVIQ Health. The undisclosed acquisition bolsters Odyssey's capability to address dual diagnoses, addiction, and detoxification treatments, catering to the escalating market demands. CIVIQ Health specializes in long-term drug treatment programs, complementing Odyssey's service portfolio.
Major companies operating in the substance abuse and addiction treatment market report are Pfizer Inc., AbbVie Inc., Novartis AG, Sanofi S.A., GlaxoSmithKline PLC, Allergan PLC, Teva Pharmaceutical Industries Ltd., Purdue Pharma LP, Mallinckrodt Pharmaceuticals PLC, Cipla Limited, The Priory Group, Alkermes Inc., Promises Behavioral Health, Indivior PLC, American Addiction Centers Holdings Inc., Accord Healthcare Inc., Hazelden Betty Ford Foundation, The Caron Foundation, Noramco Inc., Recovery Centers of America, Elements Behavioral Health LLC, Cirque Lodge, Foundations Recovery Network, The Kusnacht Practice, Ocean Breeze Recovery, Behavioral Health Group Inc., BioCorRx Inc., MAP Health Management, Seabrook, Phoenix House
North America was the largest region in the substance abuse and addiction market in 2023. The regions covered in the substance abuse and addiction treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the substance abuse and addiction treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The substance abuse and addiction treatment market includes revenues earned by entities by providing treatment for dipsomania, narcotics abuse, alcoholism, and solvent abuse. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Substance Abuse And Addiction Treatment Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on substance abuse and addiction treatment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for substance abuse and addiction treatment ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The substance abuse and addiction treatment market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.