Overview and Scope
Substance abuse is referred to as a habit of compulsive substance use characterized by recurring substantial social, occupational, legal, or interpersonal negative outcomes such as missed work or school, arrests, and marriage problems. Addiction is defined as a psychological or physical dependence on alcohol or other drugs. Substance abuse and addiction are the use of illegal substances, prescription or over-the-counter medications, or alcohol for purposes other than those intended or in excessive quantities.
Sizing and Forecast
The substance abuse and addiction treatment market size has grown rapidly in recent years. It will grow from $10.54 billion in 2023 to $11.67 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. The growth in the historic period can be attributed to growing awareness and destigmatization, government initiatives and funding, changing healthcare policies, advancements in therapeutic approaches, integration of mental health and addiction treatment.
The substance abuse and addiction treatment market size is expected to see rapid growth in the next few years. It will grow to $17.4 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. The growth in the forecast period can be attributed to rising substance abuse cases, focus on personalized treatment plans, expanding access to treatment services, telehealth and remote services, mental health advocacy. Major trends in the forecast period include preventive education and awareness programs, collaboration with mental health professionals, remote interventions and support for families, expansion of outpatient treatment services, research on innovative therapeutic approaches.
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The substance abuse and addiction treatment market covered in this report is segmented –
1) By Abuse Type: Alcohol Dependence, Tobacco or Nicotine Addiction, Other Abuse Types
2) By Treatment: Alcohol Addiction Treatment, Tobacco or Nicotine Addiction Treatment, Opioid Addiction Treatment, Other Treatments
3) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Other Distribution Channels
North America was the largest region in the substance abuse and addiction market in 2023. The regions covered in the substance abuse and addiction treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
A high prevalence of alcohol use is expected to boost the growth of the substance abuse and addiction treatment market going forward. Alcohol use refers to consuming ethyl alcohol-containing beverages. The increased prevalence of alcohol use disorders causing substance use disorders, which increased the demand for substance abuse and addiction treatment. For instance, in August 2022, according to data published by RTI International, a US-based non-profit organization, alcohol consumption in November 2020 was 39% higher than in February 2020. As well, binge drinking increased by 26% between February and April 2020 and by 30% between February and November 2020. Therefore, the high prevalence of alcohol use is driving the growth of the substance abuse and addiction treatment market.
Key Industry Players
Major companies operating in the substance abuse and addiction treatment market report are Pfizer Inc., AbbVie Inc., Novartis AG, Sanofi S.A., GlaxoSmithKline plc, Allergan plc, Teva Pharmaceutical Industries Ltd., Purdue Pharma LP, Mallinckrodt Pharmaceuticals plc, Cipla Limited, The Priory Group, Alkermes Inc., Promises Behavioral Health, Indivior PLC, American Addiction Centers Holdings Inc., Accord Healthcare Inc., Hazelden Betty Ford Foundation, The Caron Foundation, Noramco Inc., Recovery Centers of America, Elements Behavioral Health LLC, Cirque Lodge, Foundations Recovery Network, The Kusnacht Practice, Ocean Breeze Recovery, Behavioral Health Group Inc., BioCorRx Inc., MAP Health Management, Seabrook, Phoenix House
The substance abuse and addiction treatment market report table of contents includes:
1. Executive Summary
2. Substance Abuse And Addiction Treatment Market Characteristics
3. Substance Abuse And Addiction Treatment Market Trends And Strategies
4. Substance Abuse And Addiction Treatment Market – Macro Economic Scenario
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32. Global Substance Abuse And Addiction Treatment Market Competitive Benchmarking
33. Global Substance Abuse And Addiction Treatment Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Substance Abuse And Addiction Treatment Market
35. Substance Abuse And Addiction Treatment Market Future Outlook and Potential Analysis
36. Appendix
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