Market Overview
Market Research Future (MRFR) believes that the substance abuse treatment market can capture a healthy growth rate of 11.6% over the analysis period (from 2018 to 2023).
Primary Boosters and Challenges
Alcohol consumption, smoking and drug use are some of the most common practices worldwide, given the easy access to these products, lower government restrictions as well as authorized production. The World Health Organization says that over 3 million deaths every year are the result of excessive intake of alcohol. Addiction to drugs, tobacco and alcohol has also been rising among teenagers and women in line with evolving lifestyle and easy availability. A number of researches show that close to 50 disorders are associated with over consumption of these substances, including liver cirrhosis, cancer, depression, immune suppression and dementia. The rise in these disorders across the world has raised the demand for effective substance abuse treatment options.
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The Clinical and Translational Investigation journal’s report in 2015 claimed that over 60% of smokers begin smoking at 13 years of age while more than 90% of the total population starts before they reach 20 years of age. Sensing the burgeoning numbers of substance abusers across the countries, pharmaceutical firms are launching new drugs that help curb the craving among patients. Disulfiram happens to be one of the earliest drugs in the market that controls the acetaldehyde dehydrogenase enzyme and is widely used in alcohol abuse treatment.
Other growth rendering factors include technological innovations in the diagnostics sector, soaring awareness among patients about the available treatment options and the surge in treatment rates as well as improving healthcare infrastructure.
Market Segmentation
The market for substance abuse treatment has been studied extensively in the MRFR report, which has covered a few major segments including abuse type, treatment type and end user.
The various abuse types highlighted in the MRFR study include tobacco/nicotine addiction, drug abuse and alcohol dependence. The largest market is for drug abuse, in view of the surging addiction to opioid among the global population. Drug abuse has emerged as a huge concern in emerging countries like Mexico, Brazil and China, where substance abuse treatment options are in high demand.
Depending on treatment type, the market caters to tobacco/nicotine addiction treatment, drug abuse treatment and alcohol addiction treatment. Tobacco/nicotine addiction market is currently in the lead, owing to the high availability of various types of over-the-counter nicotine replacement products along with the escalating use of prescription opioids as well as illicit drugs.
Residential treatment centres, inpatient treatment centres and outpatient treatment centres are the key market end-users listed in the report. Outpatient treatment centers are witnessing highest preference among the patients, considering the lower costs, higher availability of these services, and the significant convenience.
Regional Status
Asia Pacific/APAC, Americas, MEA or Middle East & Africa and Europe are the key markets for substance abuse treatment worldwide.
The Americas is spearheading the global market for substance abuse treatment, in view of the soaring number of drug awareness campaigns as well as prevention programs. These campaigns cover spreading awareness among patients to boost the treatment-seeking rate. Rising government intervention with significant funds and initiatives to control distribution of illicit drugs and other substances also favor the regional market. Other growth enhancing factors include burgeoning population of substance abusers and the surge in technical advancements.
Asia Pacific shows the potential to attain the fastest growth rate in the years to come, thanks to the growing efforts by several countries to deal with mounting concerns regarding drug and alcohol abuse. Moreover, government across various countries are spending considerably on promotional campaigns to prevent and treat addiction. Surge in tobacco addiction coupled with the rise in technical advances also elevate the market position in the region. Alcohol dependency and opioid abuse are quite rampant in the region, especially among the lower-class population while mental health issues have become major concerns. This is bound to create a lucrative scenario for the substance abuse treatment market in the coming years.
Eminent Firms
The affluent firms in the global market for substance abuse treatment include Teva Pharmaceuticals, Accord Healthcare, Alkermes Plc, LFB Group, Sanofi Aventis, Mylan Laboratories, Pfizer Inc., Forest Laboratories, Inc., Purdue Pharma LP, Amphastar Pharmaceuticals, Reckitt Benckiser Pharmaceuticals, GlaxoSmithKline Plc., Allergan, Cipla, INSYS Therapeutics, Sun Pharmaceuticals, Lupin, Opiant Technologies, Apotex, Sanquin, BioCorRx, Glenmark, Sterinova, to list a few.
Latest News
March 2021
Atai Life Sciences and DemeRx have been given the green signal by the UK Medicines and Healthcare products Regulatory Agency or MHRA to begin enrolling for a Phase I/II study of ibogaine HCl, which helps with the treatment of opioid use disorder. Atai Life Sciences has invested close to USD 22 million in the joint venture for the development of the psychedelic, which ensures sustained and rapid efficacy in treating OUD.
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