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Substance Abuse And Addiction Treatment Market Key Players, Market Analysis, Share, Trends And Forecast To 2033
Substance Abuse And Addiction Treatment Market
As per the report, 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 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%.
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High Alcohol Prevalence Fuels Substance Abuse Treatment Market Expansion
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.
Emerging Trends In Substance Abuse Treatment Through Product Innovation
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.
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
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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
Contents of the report:
1. Executive Summary
2. Substance Abuse And Addiction Treatment Market Report Structure
3. Substance Abuse And Addiction Treatment Market Trends And Strategies
4. Substance Abuse And Addiction Treatment Market - Macro Economic Scenario
5. Substance Abuse And Addiction Treatment Market Size And Growth
…..
27. Substance Abuse And Addiction Treatment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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