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Substance Abuse And Addiction Treatment Market Latest Trends and Future Aspect Analysis 2024-2033
Substance Abuse And Addiction Treatment
The Business Research Company presents an extensive market research report on the Substance Abuse And Addiction Treatment Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
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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Key Market 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
Market Drivers:
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.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/substance-abuse-and-addiction-treatment-global-market-report
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
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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