Wilmington, Delaware, United States, July 10, 2023 (GLOBE NEWSWIRE) -- The global substance abuse treatment market stood at US$ 10.2 billion in 2021 and the global market is projected to reach US$ 23.1 billion in 2031. Global substance abuse treatment market is anticipated to expand at a CAGR of 8.5% between 2022 and 2031.
An increase in awareness spread through television advertisements, newspapers, information brochures, and other media is also contributing to the growth of the global market.
Request a Report Sample to Gain Comprehensive Insights @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=4067
“Connect with our team of research specialists and unlock the optimal solution for driving your business growth”
Growth in the number of treatment centers holding partnerships with private recovery facilities is entering the market, resulting in easy access to treatment for a larger population. Awareness initiatives introduced and run by governments and manufacturers; the rise in prescription drug abuse, favorable reimbursements for smoking cessation therapy; and the importance of addiction treatment are the prominent factors driving the global addiction treatment market.
Key Takeaways of Market Report
- Global substance abuse treatment market to generate absolute dollar opportunity worth US$ 23.1 billion until 2031.
- The global substance abuse treatment market is currently valued at US$ 10.2 billion in 2021.
- The global substance abuse treatment market stood at US$ 11.1 billion in 2022.
- Market value of the global substance abuse treatment market management from 2018 to 2022 is 7.7%
- North America is said to grow at a CAGR of 9.2%
- Asia Pacific market region is estimated to have a market share of 31.3%
Get Customization on this Report for Specific Research Solutions at https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=4067
Global Substance Abuse Treatment Market: Growth Drivers
- Governments in developed and developing countries are launching awareness initiatives about the negative effects of substance misuse, and trying to persuade people to choose early treatment in an effort to lower mortality and morbidity rates, for example, the Substance Abuse and Mental Health Services Administration (SAMHSA) works primarily to spread awareness about various addictions and their treatments and is leading several campaigns across the United States to reduce the impact of substance abuse on society.
- Alcohol consumption has long been a common practice in several countries. Nonetheless, easy access, fewer government restrictions, and large-scale licensed production have resulted in an increase in alcohol dependency as there are numerous options for alcohol addiction treatment. Alcohol abuse treatment includes counseling and group therapy. Dependance on the circumstances, medications are frequently prescribed in conjunction with general alcohol addiction treatment options.
Global Substance Abuse Treatment Market: Regional Landscape
- North America dominated the global substance abuse treatment market in 2021. The market in the region is anticipated to grow at a CAGR of 9.2% from 2022 to 2031. The U.S. is expected to dominate the market in North America over the next few years due to rise in tobacco use and surge in the number of government initiatives aimed at reducing substance abuse.
United States Government is implementing a number of initiatives to monitor symptoms and determine drug abuse among the population. For instance, according to a February 2022 update, the United States is providing free Narcan, a brand name for the medication naloxone, in 16 counties to help reduce overdose deaths. Such initiatives will help to supplement countries growing treatment for substance abuse. These factors are anticipated to fuel the expansion of the global substance abuse treatment market.
- Market in Asia Pacific is likely to grow at a high CAGR during the forecast period due to improvements in healthcare infrastructure and a rise in demand for substance abuse treatment programs in emerging economies such as China and India. Increase in the prevalence of substance abuse disorders in key countries and ongoing regulatory initiatives to combat it are projected to propel the market in the region during the forecast period.
Global Substance Abuse Treatment Market: Key Players
- Indivior plc and Aelis Farma announced a strategic partnership and option-license agreement to address the significant repercussions of cannabis use disorders (CUD), including cannabis-induced psychosis (CIP)
- Sahyog Clinic launched its new host of treatments such as de-addiction from alcohol and drugs, rehabilitation, detoxification from alcohol and drugs, and more. These new sets of rehabilitation and other programs would support the Government of Delhi’s initiatives to reduce the demand for alcohol and drugs in the country.
Buy this Premium Research Report | Immediate Delivery Available at https://www.transparencymarketresearch.com/checkout.php?rep_id=4067<ype=S
Global Substance Abuse Treatment Market: Segmentation
- Treatment Type
- Alcohol Addiction
- Disulfiram
- Acamprosate
- Naltrexone
- Others
- Nicotine Addiction
- Total NRT Therapy
- Varenicline
- Bupropion
- Drug Abuse Treatment
- Methadone
- Buprenorphine
- Naltexone
- Alcohol Addiction
- Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies and Drug Store
- Others (Online Sales)
- Regions Covered
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
Contact:
Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com
