The substance abuse and addiction treatment market has shown rapid growth, increasing from $10.54 billion in 2023 to $11.67 billion in 2024, with a CAGR of 10.7%. This growth is driven by awareness, government funding, healthcare policy changes, and advanced therapeutic approaches. The market is expected to reach $17.4 billion by 2028, with a CAGR of 10.5%. Growth drivers include rising substance abuse cases, personalized treatment plans, expanded access, telehealth services, and mental health advocacy. Key trends include preventive education, collaboration with mental health professionals, remote support, outpatient services expansion, and innovative therapeutic research.
Major Driver In The Substance Abuse And Addiction Treatment Market
The anticipated growth of the substance abuse and addiction treatment market is closely tied to the high prevalence of alcohol use, specifically the rising incidence of alcohol use disorders contributing to substance use disorders. In August 2022, data from RTI International revealed a substantial increase in alcohol consumption, with a 39% rise in November 2020 compared to February 2020. Binge drinking also saw a notable increase, rising by 26% between February and April 2020 and further escalating by 30% between February and November 2020. This heightened prevalence of alcohol use is a key driver for the growth of the substance abuse and addiction treatment market, with market size projections for 2023, 2024, and 2028 aligning with this upward trend.
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Substance Abuse And Addiction Treatment Market Competitive Landscape
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
Key Substance Abuse And Addiction Treatment Market Trend
New product innovation has emerged as the key trend gaining popularity in the substance abuse and addiction treatment market. Major companies operating in the substance abuse and addiction treatment market are developing innovative products to strengthen their position in the market. For instance, in September 2021, Lyra Health, a US-based provider of innovative mental healthcare benefits, launched its first technology-integrated care solutions. The unique features of integrated care solutions Lyra Reset include virtual counseling to help stop drinking or achieve sobriety, digital lessons, and medication to combat cravings, all of which serve to reduce the impact of stigma. This first technology—integrated care solutions—is designed to address major mental health concerns like alcohol use disorder (AUD), suicidality, and other complicated mental health conditions.
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Substance Abuse And Addiction Treatment Market Segmentation
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
By Geography:The regions covered in the substance abuse and addiction treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the substance abuse and addiction market in 2023.
The Substance Abuse And Addiction Treatment Global Market Report 2024 furnishes information about the global substance abuse and addiction treatment market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
