Substance Abuse Treatment Market: Rising Prevalence of Various Lifestyle Diseases to Drive the Market

[ad_1]

Wilmington, Delaware, United States, Transparency Market Research Inc. – The term ‘substance abuse’ refers to a pattern of drug or substance usage that results in serious issues or distress. Addiction to illegal substances such as marijuana, heroin, cocaine, or methamphetamine is referred to as substance abuse, which is a recognized medical brain problem; or it could involve abusing substances that are legal, including alcohol, cigarettes, or prescription drugs. The most frequently abused legal substance is alcohol.

Read Report Overview – https://www.transparencymarketresearch.com/substance-abuse-treatment-market.html

  • The global substance abuse treatment market was valued at US$ 10.2 Bn in 2021
  • The global market is projected to grow at a CAGR of 8.5% from 2022 to 2031
  • The global substance abuse treatment market is anticipated to cross US$ 23.1 Bn by 2031

According to the 2021 World Drug Report, which was released by the United Nations Office on Drugs and Crime, over 36 million individuals in the world have drug use disorders and over 275 million people used drugs in the previous year (UNODC). The report stated that the number of drug users increased by 22% between 2010 and 2019 due in part to the growing world population. As per the forecast, the number of drug users globally will increase by 11% by 2030, with a notable rise of 40% in Africa due to its fast expanding and youthful population.

Request Sample of Report – https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=4067

Rise in drug awareness campaigns, preventative initiatives, and increase in the population’s addiction rate are propelling the global substance abuse treatment market. One of the primary factors contributing to the growth of the market is the increase in drug awareness campaigns and related preventive initiatives. This involves encouraging governments in various countries to stop the use of drugs and increasing patient awareness about their condition.

Rise in Initiatives by Governments and Welfare Agencies to Spread Awareness About Substance Abuse and Available Treatments

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 instance, the Substance Abuse and Mental Health Services Administration (SAMHSA) works primarily to spread awareness about various addictions & their treatments, and is leading several campaigns across the U.S. to reduce the impact of substance abuse on society. SAMHSA is an agency working under the U.S. Department of Health and Human Services. Some of the major campaigns run by the organization include the AWARxE Prescription Drug Safety Program, Above the Influence, and NIDA for Teens: The Science Behind Drug Abuse.

In December 2021, the Government of India launched the “Drug-Free India” campaign and issued guidelines to reduce drug abuse among Indians. Similarly, in October 2021, the Centers for Disease Control and Prevention (CDC) launched four complementary education campaigns aimed at young adults aged 18 to 34 years old, with the goal of preventing drug overdose deaths. Such campaigns and initiatives raise awareness about substance abuse treatment among the addicted population.

In 2019, the Food and Drug Administration approved Spravato (esketamine) nasal spray in combination with an oral antidepressant for the treatment of depression in adults who have tried and failed other antidepressant medications (treatment-resistant depression).

Due to the risk of serious adverse outcomes from Spravato administration’s sedation and dissociation, as well as the drug’s potential for abuse and misuse, it is only available through a restricted distribution system as part of the Risk Evaluation and Mitigation Strategy (REMS). Hence, increase in initiatives by governments and welfare agencies to spread awareness about substance abuse and its treatments is expected to drive the global market during the forecast period.

Request for Custom Research – https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=4067

High Prevalence of Alcohol Use and Introduction of New Products to Propel Global Market

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. According to the World Bank, the global average alcohol consumption per capita was estimated at 6.18 liters of pure alcohol in 2018. Moreover, rise in awareness about alcohol use disorder and increase in the number of rehabilitation facilities are propelling the global market.

According to the WHO, nearly one-third population of the U.S. consumes enough alcohol to be considered at risk of alcohol addiction, and alcohol abuse is responsible for around three million deaths each year accounting for 5.3% of all deaths. However, there are numerous options for alcohol addiction treatment. Alcohol abuse treatment includes counselling and group therapy. However, depending on the circumstances, medications are frequently prescribed in conjunction with general alcohol addiction treatment options.

As companies are growing their customer pool, drug abuse treatment providers and manufacturers of drug abuse treatment products are focusing on generating awareness among people and drug store owners about the adverse effects of drug abuse and the importance of abuse treatment.

For instance, in July 2021, Adial Pharmaceuticals, a clinical-stage biopharmaceutical company focused on the development of addiction treatments, reported significant progress in its pivotal ONWARD phase 3 clinical trial evaluating AD04 as a therapeutic agent for the treatment of Alcohol Use Disorder (AUD). It achieved 100% of its patient screening target and 90% of its patient enrollment target.

Request for Report Methodology – https://www.transparencymarketresearch.com/sample/sample.php?flag=RRM&rep_id=4067

Rise in Drug Abuse and Dependency Augmenting Need of Drug Abuse Treatment

In terms of treatment type, the drug abuse treatment segment is projected to dominate the global market, accounting for around 52% share by 2031. Drug abuse treatment is a medical treatment for compulsive behavior/habit that involves excessive and self-damaging use/consumption of drugs or substances, which normally leads to addiction or dependence. It could lead to serious physiological injury such as damage to heart, kidney, and liver, and also psychological harm including hallucinations, dysfunctional behavior patterns, and memory loss.

Rise in usage of prescription drugs/illicit drugs, increase in the number of deaths from excessive use of prescription drugs, and surge in research & development by leading pharmaceutical companies during the forecast period drive the demand for drug abuse treatment.

The prevalence of prescription drug abuse is rising rapidly. This, in turn, is increasing the rate of overdose deaths and the frequency of emergency room visits. The nonmedical consumption of prescription drugs is rising rapidly. The high incidence of comorbid illnesses is responsible for wrong prescriptions and addiction to prescription drugs among the elderly. A continuous rise in the abuse of prescription drugs is expected to propel the demand for drug abuse treatments.

Increase in Prescription Filling Driving Hospital Pharmacies Segment

Based on distribution channel, the hospital pharmacies segment accounted for a key share of around 50% of the global market in 2021. The segment is likely to be driven by increase in demand for prescription filling at hospital pharmacies, availability of certified physicians, advice for use of the drugs from certified physicians, and authenticity of quality and price of the medicines.

Hospital pharmacies have emerged as the preferred channel of distribution for substance abuse treatment. Drug compounding is the process of combining, mixing, or modifying pharmaceutical ingredients to create medications that are tailored to an individual’s needs. The presence of skilled professionals capable of performing such tasks in hospitals has resulted in the increase in demand for the procedure of drug compounding in hospital pharmacies. These factors are expected to propel the segment over the next few years.

Ask for References – https://www.transparencymarketresearch.com/sample/sample.php?flag=ARF&rep_id=4067

Regional Outlook of Global Substance Abuse Treatment Market

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.

According to a December 2020 update from the Centers for Disease Control and Prevention (CDC), nearly 14 out of every 100 adults in the U.S. aged 18 years and above (14%) smoked cigarettes in 2019. As per the same source, an estimated 34.1 million adults in the country currently smoke cigarettes, and more than 16 million suffer from a smoking-related disease. With such a large addiction population in the country, there will be a greater demand for addiction treatment, which is likely to drive the market in the U.S.

The U.S. 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 U.S. and the U.K. are 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.

The market in Asia Pacific is likely to grow at a high CAGR during the forecast period due to improvements in healthcare infrastructure and rise in demand for substance abuse treatment programs in emerging economies such as China and India. Moreover, increase in 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.

Make an Enquiry Before Buying – https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=4067

Analysis of Key Players in Global Substance Abuse Treatment Market

The global substance abuse treatment market report concludes with the company profiles section, which includes information about key players in the global substance abuse treatment market.

Leading players analyzed in the report include Alkermes, Allergan plc, Indivior plc, Noramco (part of SK Capital Partners), Teva Pharmaceutical Industries Ltd., Pfizer, Inc., GlaxoSmithKline plc, Mallinckrodt plc, BioCorRx, Inc., and Glenmark Pharmaceuticals Ltd.

Each of these players has been profiled in the substance abuse treatment market report based on parameters such as company overview, financial overview, business strategies, application portfolio, business segments, and recent developments.

More Trending Reports by Transparency Market Research –

Topical Antibiotics Market: The global topical antibiotics market is anticipated to attain a market value of US$ 8.3 Bn by the end of 2030.

In-vitro Inflammatory Bowel Disease Diagnostic Market: The global in-vitro inflammatory bowel disease diagnostics market is expected to expand at a CAGR of ~4% during the forecast period.

Depression Drugs Market: The global depression drugs market is expected to attain a market value of US$ 24.3 Bn by the end of 2030.

Dry Eye Disease Treatment Market: The global dry eye disease treatment market was valued at US$ 5.4 Bn in 2019 and is anticipated to expand at a CAGR of ~4% from 2020 to 2030.

Alcoholic Hepatitis Therapeutics Market: The global alcoholic hepatitis therapeutics market is expected to reach ~US$ 1.2 Bn by the end of 2030.

Atipamezole Market: Products that reduce sedative effects of medetomidine and dexmedetomidine are gauging high demand in the atipamezole market.

Anthelmintic Drugs Market: The anthelmintic drugs market was valued at ~US$ 2 Bn in 2019 and is anticipated to expand at a CAGR of ~5% from 2020 to 2030.

Medical Holography Market: The global medical holography market was valued at around US$ 240.0 Mn in 2017 and is anticipated to reach around US$ 3500.0 Mn by 2026.

About Us

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

For More Research Insights on Leading Industries, Visit Our YouTube Channel and hit subscribe for Future Update – https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ

Contact

Rohit Bhisey

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

[ad_2]

Source link

Jorge Oliveira

https://www.linkedin.com/in/marketing-online-ireland/ https://muckrack.com/jorge_oliveira