Dublin, March 16, 2023 (GLOBE NEWSWIRE) -- The "Substance Abuse Treatment Market Report by Treatment Type, by End-use, and by Region - Global Forecast to 2022-2033" report has been added to ResearchAndMarkets.com's offering.
The substance abuse treatment market size is estimated to be USD 11.47 billion in 2022 and is expected to witness a CAGR of 8.65% during the forecast period 2022-2033.
Growing public knowledge of available therapies and an increase in the frequency of drug misuse problems, the industry is expanding quickly, and these are some of the factors contributing to the market growth. Furthermore, industry development is anticipated to be fueled by favourable government efforts like drug consciousness campaigns and prevention programmes over the projection period.
The use of alcohol, prescribed or over-the-counter drugs, or illicit drugs for reasons other than those for which they were meant or in excessive quantities is referred to as substance misuse. However, the incorrect stability of the substance abuse treatment would increase the danger of nerve damage and other problems which hinders the market growth.
The number of fatalities caused by opioid use disorders increased to 71% over the last ten years, with a 92% increase among women and a 63% increase among men. Opioids are the substance that poses the greatest danger. Because of the rising rate of addiction, more people need to be made conscious of the risks that illegal drugs bring to their health.
Both public and private organisations are constantly working to plan initiatives and programmes that will raise public awareness of the harmful effects of drug abuse and encourage the use of addiction therapy among addicts.
For instance, in February 2023, Sesh+, a smoking cessation company with the motive of preventing addiction and providing treatment, developed NRT products in flavors such as cinnamon, pomegranate, and wintergreen, to enhance the adoption of treatment. However, the industry growth is being restrained by the relapse of addiction due to the discontinuation of therapies. According to the National Institute on Drug Abuse estimates, 40-60% of individuals relapse within 30 days of leaving an inpatient addiction treatment center, and nearly 85% relapse within the first year of treatment. Patients are treated with medications to help curb cravings and re-establish healthy brain function.
Segmentation
By Type
The market is categorized into tobacco/nicotine & vaping, prescription & over-the-counter medications, synthetic cannabinoids, alcohol, marijuana and others. The group that included tobacco, nicotine, and e-cigarettes had the biggest market share. The segment's supremacy is explained by the rising rate of tobacco addiction in the general populace.
Around 22.3% of people worldwide, according to estimates, smoke cigarettes, which results in 8 million deaths a year. Because it can contribute to the use and abuse of other drugs, tobacco is commonly referred to as a gateway drug. Smokers are 22 times more likely than non-smokers to use cocaine, 8 times more likely to use weed, and 3 times more likely to use booze. Tobacco use has been linked to damage to almost every system in the body, including the lungs and their ability to operate. This increases the urgency with which such medical problems necessitate addiction therapy.
Due to its high consumption, widespread access, and elevated societal acceptance, which contribute to its rising consumption globally, the alcohol sector is anticipated to experience the fastest growth rate during the projection period. The WHO believes that alcohol use harms 3 million people globally each year, accounting for 5.3% of all fatalities.
Alcohol abuse is the second most prevalent form of drug abuse worldwide, behind cigarette addiction. Around 10% of adult males and 5% of adult women experience an alcohol use problem when drinking leads to anxiety or harm. Over the projection period, the market for alcohol addiction therapy is expected to grow significantly.
By End-user
The market is divided into hospitals, rehabilitation centres, clinics, and others. In 2022, the hospital end-use sector led the market and was responsible for the biggest portion of total revenue, or 37.83%. The dominant position is attributed to the delayed diagnosis of the condition as a result of social stigmatisation among patients, which causes reluctance to seek treatment and frequently leads to severe cases of addiction that necessitate hospitalisation in order to provide the user with the necessary addiction treatments, fuelling the segment's expansion. Hospitals, being centres for primary treatment, also provide care for health conditions linked to substance abuse because people who abuse substances for a prolonged period of time frequently develop other health conditions, such as cardiovascular disease, stroke, cancer, HIV/AIDS, Hepatitis B and C, lung disease, and mental disorders.
The sector for rehabilitation facilities is anticipated to experience the quickest CAGR during the projection time. Rehab facilities are the favoured way for patients who must endure long-term drug treatment, which may last six months to a year or more. These facilities offer more treatment choices, accommodations, and specialised care, such as dual diagnosis. In order to give people greater treatment, rehabilitation facilities and hospitals are also collaborating. The segment's development is anticipated to be constrained by the high expense of addiction therapy provided in a rehabilitation facility. For instance, the expense of standard outpatient therapy over 30 days ranges from USD 1,400 to USD 10,000. This translates to $5,700 on average per month. Pharmaceuticals used in drug therapy, however, only make up a small portion of these expenses.
Regional Markets
In 2022, North America region accounted for the highest revenue in the substance abuse treatment market and is expected to maintain its dominance during the forecast period. This is attributed to continue expanding at a consistent CAGR, keeping its leadership throughout the projection period. The regional market is anticipated to be driven by the expanding population vulnerable to addiction, well-designed reimbursement policies, approval of marijuana in some states, and advanced healthcare sectors. The CDC estimates that 6% of Americans are prone to excessive drinking, and that nearly 17% of Americans binge drink. Additionally, the United States has the highest prevalence of nicotine addiction, with nearly 40 million people abusing cigarettes. resulting in a significant business potential for North American addiction therapy.
Asia Pacific is predicted to see the greatest growth in the projected period. Due to the regional growth of major actors in Asian nations, along with improving government efforts to increase the acceptance of nicotine, alcohol, and substance addiction therapy. Additionally, the prevalence of alcohol, nicotine, and opioid abuse is increasing in Asian nations, which will spur regional market expansion.
Competitor Insights
Some of the key players in the global substance abuse treatment market include Teva Pharmaceutical Industries Ltd., GSK plc., Lilly (Eli Lilly and Company), Cipla Inc., Novartis AG, Dr. Reddy's Laboratories Ltd., Sun Pharmaceutical Industries Ltd., Viatris Inc., AstraZeneca.
The numerous strategic efforts carried out by the operational entities engaged have caused the substance abuse treatment sector to expand at a rapid rate. The major players continuously concentrate on improving patient outcomes and bringing new technologies that greatly improve the efficacy & efficiency of healthcare.
For instance, Jovive Health introduced Medication-Assisted Treatment (MAT) in February 2023 to assist patients with opiate use disorders lessen the impacts of reliance on opioids (OUD).
This comprehensive research report focuses on the global and regional market size and forecasts of diverse segments including type, and end user from 2023 to 2033.
Key Topics Covered:
1. Research Methodology
2. Introduction: Substance Abuse Treatment
3. Executive Summary
4. Market Dynamics
5. Market Environment Analysis
6. COVID-19 Impact Analysis: Substance Abuse Treatment Market
7. Market Analysis by Type
8. Market Analysis by End User
10. North America Substance Abuse Treatment Market
11. Europe Substance Abuse Treatment Market
12. Asia Pacific Substance Abuse Treatment Market
13. Latin America Substance Abuse Treatment Market
14. MEA Substance Abuse Treatment Market
15. Competitor Analysis
16. Company Profiles
17. Conclusion & Recommendations
A selection of companies mentioned in this report includes
- Teva Pharmaceutical Industries Ltd.
- GSK plc.
- Lilly (Eli Lilly and Company)
- Cipla Inc.
- Novartis AG
- Dr. Reddy's Laboratories Ltd.
- Sun Pharmaceutical Industries Ltd.
- Viatris Inc.
- AstraZeneca
For more information about this report visit https://www.researchandmarkets.com/r/mkraq
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