June 22, 2024
Substance Abuse Treatment Market

Global Substance Abuse Treatment Market is Estimated to Witness High Growth Owing to Rising Awareness Regarding Drug Addiction

The global substance abuse treatment market comprises products and services used for medication-assisted treatment, detoxification, counseling and behavioral therapy to treat dependency and prevent relapse. Substance abuse refers to harmful or hazardous use of psychoactive substances including alcohol and illicit drugs. It negatively impacts physical and mental health as well as social life of affected individuals. Rising rates of substance abuse disorders worldwide along with availability of advanced treatment solutions is fueling demand in this market.

The Global Substance Abuse Treatment Market is estimated to be valued at US$ 11.8 Bn in 2024 and is expected to exhibit a CAGR of 8.5% over the forecast period 2024 to 2031.

Key factors driving the market include growing alcohol and drug addiction rates, increased awareness about treatment and rehabilitation programs, favorable government initiatives, and introduction of novel therapies.

Key Takeaways

Key players operating in the global substance abuse treatment are Indivior PLC, Pfizer, Inc., Johnson & Johnson Inc., Alkermes., Mallinckrodt Pharmaceuticals, Teva Pharmaceuticals, Inc., Par Pharmaceutical, Inc., USWM, LLC, Valeant Pharmaceuticals, Greenyard Pharmaceutical Ltd. Cipla Health Limited. Perrigo, Haleon Group of Companies, Ventus Medical, Glenmark and other prominent players. These companies offer innovative treatment solutions such as MAT therapies, behavioral counseling, digital therapeutics and personalized addiction care programs.

The growing demand for Global Substance Abuse Treatment Market Size can be attributed to prevalence of substance abuse disorders worldwide. As per WHO, around 276 million people consumed illicit drugs at least once in 2016 globally. Also, alcohol consumption led to 3 million deaths annually between 2016–2019. This indicates significant market potential.

Substance abuse treatment providers are expanding globally with a goal to make treatment accessible in different geographies. They are establishing new facilities, collaborating with regional partners and raising awareness especially in developing nations. For instance, Indivior recently launched PERSERVETM buprenorphine sublingual film in China to expand treatment access. This reflects increased focus on globalizing treatment solutions.

Market Key Trends

The global substance abuse treatment market is witnessing increased adoption of personalized treatments driven by rising preference for tailored care approaches. Treatment programs are moving beyond one-size-fits-all therapies and embracing digital technologies to develop personalized care plans, monitor progress remotely and minimize relapse. This trend allows providing customized substance dependence treatment based on an individual’s needs, severity, comorbidities and preferences. It is expected to transform the delivery of substance abuse care going forward.

Porter’s Analysis

Threat of new entrants: The substance abuse treatment market requires high initial investments and compliance with regulations which makes the entry of new players challenging.

Bargaining power of buyers: The bargaining power of buyers is moderate as there are many existing service providers in the market.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many raw material suppliers for development of drugs/services.

Threat of new substitutes: There is a low threat of substitutes as currently there is no direct substitute available for substance abuse treatment services/drugs.

Competitive rivalry: The competitive rivalry is high due to presence of many global and regional players offering a range of treatment options.

Geographical Regions:

Currently, North America accounts for the largest share of the global substance abuse treatment market in terms of value. This can be attributed to factors such as growing prevalence of substance abuse disorders, advanced healthcare infrastructure and presence of major market players.

The Asia Pacific region is anticipated to register the fastest growth over the forecast period in the global substance abuse treatment market. Rising economies, growing awareness and improving healthcare facilities are some of the key factors expected to drive the APAC market. Developing nations like India, China and Japan are emerging as lucrative markets with increasing patient pool and adoption of novel treatment options.

*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it.