The Global substance abuse treatment market is expected to grow at an approximate CAGR of 11.6% during forecast period, 2018–2023.
Increasing cases of tobacco smoking is one of the prominent factors driving the substance abuse treatment market. According to the information published in the Frontiers in Psychiatry journal, China is facing an immense public health challenge from tobacco smoking. It is estimated that number of deaths, due to cigarette smoking, will reach 2 million by 2030 and 3 million by 2050.
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Various other factors such as increasing incidence of drug addiction, technological advancement in the diagnostics industry, rising patient awareness about substance abuse treatment and improvement in treatment rates and healthcare infrastructure are also expected to propel the growth of the market.
However, poor treatment compliance in some countries and reluctance of individuals for accessing treatment can hamper the market growth over the forecast period.
The Global substance abuse treatment market is segmented based on abuse type, treatment type, end user, and region.
The Global market for substance abuse treatment, by abuse type is segmented into alcohol dependence, tobacco/nicotine addiction, and drug abuse. The drug abuse segment is anticipated to hold the largest market share owing to the increasing addiction of opioid.
The market, by treatment type, is segmented into alcohol addiction treatment, tobacco/nicotine addiction treatment, and drug abuse treatment. The alcohol addiction treatment segment is further classified as disulfiram, acamprosate, and naltrexone. The tobacco/nicotine addiction treatment segment is further classified as nicotine replacement treatment, and non-nicotine medication. The nicotine replacement treatment segment includes nicotine patch, nicotine gum, nicotine lozenge, nicotine spray, and nicotine inhaler. The non-nicotine medication segment includes bupropion, and varenicline. The drug abuse treatment segment is further classified as methadone, buprenorphine, and naltrexone.
Based on end user, the market is segmented into outpatient treatment centres, residential treatment centres, and inpatient treatment centres.
The Americas dominated the global market for substance abuse treatment owing to presence of major market players and rising awareness about substance abuse treatment within the region. In recent years, various private and government organizations have launched campaigns and seminar to spread awareness about substance abuse. For instance, in February 2017, the Ad Council and Viacom have launched the LISTEN campaign and a new PSA to address America’s substance abuse crisis.
In 2017, it was estimated that Europe stood second in the global substance abuse treatment market. This can be attributed to the rising research and development investments.
Asia Pacific was projected to be the fastest growing region in 2017. Factors such as increasing incidences of tobacco addiction and increasing technological advancements within the region are boosting the regional markets of the Asia Pacific region.
Some of the key players in the global substance abuse treatment market are Pfizer Inc., Alkermes Plc, GlaxoSmithKline Plc., Purdue Pharma LP, Allergan, Mylan Laboratories, Reckitt Benckiser Pharmaceuticals, Teva Pharmaceuticals, Forest Laboratories, Inc., Accord Healthcare, Amphastar Pharmaceuticals, Apotex, BioCorRx, Cipla, Glenmark, INSYS Therapeutics, LFB Group, Lupin, Opiant Technologies, Sanofi Aventis, Sanquin, Sterinova, Sun Pharmaceuticals, and others.
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This post was originally published on Trading Herald