The latest report on “Substance Abuse Treatment Market (Abuse Type – Tobacco Addiction, Alcohol Dependence, Opioid Addiction, and Other Abuse Type; Treatment Type – Alcohol Addiction Treatment, Nicotine Addiction Treatment, and Other Treatment Type): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025.” The global substance abuse treatment market is projected to grow at a CAGR of 8.3% over the forecast period of 2019-2025.
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Substance Abuse is drug/alcohol addiction and dependence, which leads to psychological disorders, physical harm, and even death. People abuse it for many or complicated reasons and it becomes a habit or compulsion after a time.
The rising drug awareness campaign, as well as an associated prevention program, is the primary factor boosting the growth of the substance abuse treatment market. In September 2018, the WHO launched a SAFER alcohol control initiative to prevent and reduce alcohol-related death and disability. It is a package of five high-impact strategic actions to reduce the harms caused by alcohol, and a new partnership to catalyze global action. The SAFER initiative has got support from multiple partners, and governments to civil society organizations like Sri Lanka, Slovenia, Vital Strategies organization, IOGT International, NCD Alliance.
In addition, increasing government funding in the treatment of addiction disease is another factor propelling the growth of the market. On the other hand, according to the Center for Disease Control, every single day around 114 people die due to drugs and 6,748 are sent to hospital emergency rooms for treatment. Thereby, an increasing number of the disease caused due to the addition of the alcohol, and drug, which in turn boost this market.
However, multiple side effects of the drug such as methadone, used for the addiction treatment, yet remains one of the major restraints to the market. Moreover, buprenorphine products are available in the form of sublingual films, pills, and implants are improving treatment methods. Therefore, the availability of the drug in different forms offers favorable opportunities in this market. Furthermore, nicotine replacement treatment can be another opportunity in the forecast period in this market.
North America Holds the Highest Market Share in Substance Abuse Treatment Market
Geographically, the global substance abuse treatment market is classified into North America, Asia-Pacific, Europe, and the Rest of the World. Among all, North America holds the highest market share owing to the increasing awareness about the substance abuse treatment as well as the presence of the key players in this region. In addition, increasing government and private agencies involved in launching the campaign for substance abuse treatment can be another factor enhancing the growth of the market in this region. Europe holds the second largest market share in this market due to the increasing initiative in the R&D activities. On the other hand, Asia Pacific is expected to grow at the highest CAGR in the forecast period due to developing treatment awareness.
The report on global substance abuse treatment market covers segments such as abuse type and treatment type. On the basis of abuse type, the sub-markets include tobacco addiction, alcohol dependence, opioid addiction, and other abuse types. On the basis of treatment type, the sub-markets include alcohol addiction treatment, nicotine addiction treatment, and other treatment types.
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The report provides profiles of the companies in the market such as Elite Pharmaceuticals Inc., Amphastar Pharmaceuticals, BioCorRx, Cipla Limited, Glenmark Pharmaceuticals, Insys Therapeutics, Accord Healthcare, LFB Group, Lupin Limited, and Mylan Laboratories.
Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the substance abuse treatment.
=> Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.