Influence of Covid-19 Substance Abuse Treatment Market

A recent report by Transparency Market Research on the substance abuse treatment market in the U.S. states that the competitive landscape is highly fragmented. This is because around 242 companies compete against one another in it. This also makes overall competition stiff. Some of the companies that have beat competition to emerge as leading players in the market are Pfizer Inc., Alkermes Plc, GlaxoSmithKline Plc., and Purdue Pharma LP. Their astute marketing strategies have helped to enhance their market shares majorly.

Our report, which valued the U.S. market for substance abuse treatment at US$4.42 bn in 2015, estimates it to become worth US$12.43 bn by 2024-end by rising at an impressive 12.40% CAGR between 2016 and 2024.

Get Brochure of the Report @https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=21773

us substance abuse treatment market
The most prevalent substance abuse in the U.S. are those pertaining to tobacco or nicotine addiction, alcohol dependence, and opioid addiction. Among them, the tobacco or nicotine addiction leads owing to around 15.0% of people in the nation being addicted to smoking. When it comes to end users, the outpatient treatment centers are responsible for driving most of the demand mainly because their rising popularity. In the years ahead too, the segment will drive most of the demand in the market.

Request For Covid19 Impact Analysis –https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=21773

Alarming Rise in Cases of Substance Abuse Drives Market

At the forefront of driving the market for substance abuse treatment in the U.S. is the spike in number of alcohol, opioid, and nicotine or tobacco addicts. “The federal government along with the local authorities in the nation have devised myriad early intervention and therapeutic strategies to bring the situation under control. This is expected to bode well for the market for substance abuse treatment in the near term,” states the lead analyst of TMR.

In addition, the U.S. market for substance abuse is also expected to gain from the leading companies’ efforts to enhance their customer base by generating awareness through campaigns about the harmful effects of drug abuse and the necessity of timely treatment. In order to do so, the companies are seen banking upon every medium including print, television, and online.

Strict Approval Process for New Therapies Offsets Market Growth to an Extent

On the flipside, not too many therapies for mental illness resulting from substance addiction and stringent rules pertaining to approval of therapies is dampening market growth to an extent.

Buy Report Now : https://www.transparencymarketresearch.com/checkout.php?rep_id=21773

Contact

Transparency Market Research,
90 State Street, Suite 700,
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com/

About Us

Transparency Market Research is a global market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for several decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and 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 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.

This release was published on openPR.