Substance Use Disorder Treatment Market Set to Witness an Uptick Size US$ 7 Mn in 2022 | CAGR 5.4% – By FMI

Substance Use Disorder Treatment Market Outlook (2022-2032)

[323 Pages Report] The global substance use disorder treatment market is forecasted to be estimated at US$ 14 Mn by 2032, up from US$ 7 Mn in 2022, advancing at a CAGR of 5.4% during the forecast period.

An increasing number of treatment centers, with mergers with private recovery institutions to aid in the extension of treatment access to a wide range of people is likely to accelerate market growth. However, the high cost of substance use disorder treatment therapy is likely to hamper the market size in developing economies due to patients having a limited income.

On the contrary, surging initiatives and funding by the government for the awareness and treatment of chronic-ill effects of substance abuse is likely to expand the substance use disorder treatment market size during the forecast period.

The substance use disorder treatment market is likely to expand due to the growth in the use of tobacco in developing and underdeveloped countries, especially in the Pacific and East Asian countries. Moreover, the implementation of strategic initiatives amongst several market players is expected to drive market growth further.

Favourable reimbursement policies and treatment advancements due to the psychological effects of substance abuse are anticipated to surge the market share. Furthermore, government investments in technology and telecommunication to improve the healthcare infrastructure is likely to contribute to market growth.

Prevention programs and increasing drug awareness crusades to provide information on the risks of mixing drugs and the stigma around drug use to support treatment and recovery are expected to propel the market share. These include a higher treatment-seeking rate, increased government intervention, encouragement to curb substance abuse, and increased patient awareness.

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Technological Advancements Bring the Treatment to New Horizons

Technological advancements surging the production of digital devices is likely to aid in substance use disorder treatment. Hence, the increasing penetration of digitization is positively impacting the market share.

The substance use disorder treatment market size is expected to increase using government support. In addition, ‘The Confidentiality of Substance Use Disorder Patient Records Regulation’ assures confidentiality for individuals being treated for substance use disorder treatment, which is expected to boost the market growth.

Increasing awareness about the dangerous aftermath of alcohol abuse and the rise in the number of rehabilitation facilities are forecasted to propel the market. Moreover, the wide variety of options for alcohol addiction treatment, such as counselling, group therapy, and medication, are anticipated to bolster the substance use disorder treatment market.

Drug compounding catering to the need of every individual patient significantly boosts the global market growth. Furthermore, the demand for substance use disorder treatment is likely to rise owing to the presence of experienced psychologists to conduct therapy and skilled professionals capable of executing drug compounding.

The awareness about the impact of substance use disorder through various campaigns by non-profit organizations and governments through advertisements on television, newspapers, magazines, etc., has witnessed remarkable growth. This is estimated to expand the market size.

Reluctance to Opt for Treatment to be a Key Market Impeder

Poor treatment compliance in some countries and the reluctance of individuals to access treatment modalities are likely to hinder the market growth. Likewise, the market is expected to impede due to the discontinuation of behavioural therapies leading to relapse and patients opting for outpatient care.

Extending periods of clinical trials, as well as incomplete health treatment programs, are expected to obstruct the market share. Similarly, inadequate services for treating substance abuse present a significant challenge for the market.

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What are the Revenue Opportunities for the Substance Use Disorder Treatment Market?

The high prevalence of comorbid illnesses is accountable to wrong prescription drugs. Therefore, the rising consumption of non-medical prescription drugs and increasing overdose deaths are expected to propel market growth in the coming years.

The high proportion of e-cigarette users in urban areas provides a lucrative opportunity for the substance use disorder treatment market. This is owing to research on E-cigarettes that estimated several major health issues linked with tobacco use.

How is the Performance of the North America Substance Use Disorder Treatment Market?

North America is the most dominating substance use disorder treatment market, with a significant share of 46.7% in 2022. This is owing to the surge in government initiatives aimed at reducing substance abuse, as well as the rise in tobacco use.

The dependence of about 20 Mn people on both alcohol and illicit drugs in the U.S is likely to drive the market growth. Moreover, mental illness as a consequence of drug abuse is further expected to expand the market size in this region.

The consolidation of smaller rehabilitation centres by major rehab centres providing uniformity in treatment patterns bolsters the market share in this region. Additionally, the expansion of rehab centres and their increasing capacity is anticipated to drive the demand for substance use disorder treatment.

How will the Europe Substance Use Disorder Treatment Market Grow?

With a revenue share of 37.4% in 2022, Europe is another dominating substance use disorder market. This is attributed to the massive rise in cases of substance abuse and a profusion of government initiatives.

The rising prevalence of alcohol abuse amongst the majority of the population, leading to disturbing behavioural patterns, is expected to drive the market. Moreover, increasing death rates due to drug overdose or alcohol intoxication is likely to further contribute to market growth.

What is the Growth Outlook for the Asia Pacific Substance Use Disorder Treatment Market?

The Asia Pacific is a growing substance use disorder market attributed to the rising healthcare expenditure and awareness about the aftermath of substance abuse.

Nicotine addiction is the highest substance use disorder in this region. Thus, it is likely to significantly contribute to the global market’s growth.

Start-Up Companies to Watch for in the Substance Use Disorder Treatment Market

People face multiple challenges in trying to break the habit of substance dependency. Due to widely available purchases from local pharmacies, narcotic substances are responsible for various physical and psychological illnesses. Significant developments in digital health, augmented reality (AR), and virtual reality (VR) assist start-up companies in developing original and creative solutions for managing addiction.

Several start-up companies are generating their own approach to substance abuse treatment.

• zpharm – They offer Cravv, which is a natural health product for smoking cessation.
• PursueCare – They provide at-home telehealth treatment for opioid addiction.
• Virtual Rehab – They strive to combine VR and evidence-based solutions to improve mental health and well-being for people battling addiction.
• Amygdala Neurosciences – They are developing a new chemical entity, selective and reversible mitochondrial aldehyde dehydrogenase 2 (ALDH2) inhibitor.
• Kinoxis Therapeutic – They are working to develop a range of therapeutic compounds for the treatment of substance use disorders and other central nervous systems (CNS) conditions.

What is the Competitive Landscape of the Substance Use Disorder Treatment Market?

Key market participants are continually educating themselves to develop a deeper understanding of psychological issues in people, emerging from prolonged substance abuse. Through mergers and acquisitions, along with increasing awareness through campaigns, they are coming up with enhanced treatment options.

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Key market players of the substance use disorder treatment market

• Teva Pharmaceutical Industries Ltd. – Their mission is to be a global leader in generics and biopharmaceutical medicines, improving the lives of patients around the world.
• Reckitt Benckiser Pharmaceuticals Inc. – They are a brand that focuses on cleanliness and hygiene. They are the makers of Dettol, Durex, Harpic, Lysol and Mortein among many other brands.
• GlaxoSmithKline plc – They are a global biopharma company with the ambition and purpose to unite science, technology and talent to get ahead of diseases.
• Pfizer Inc. – They are an American multinational pharmaceutical and biotechnology corporation headquartered in Manhattan, New York. They develop and produce medicines and vaccines for immunology, oncology, cardiology, endocrinology, and neurology.

Other market players of the substance use disorder treatment market:

• Cipla Limited
• Intas Biopharmaceuticals
• Alkermes
• Allergan plc
• Alkermes plc.
• Indivior plc
• Noramco
• Mallinckrodt plc
• BioCorRx Inc.
• Glenmark Pharmaceuticals Ltd.
• Dr. Reddy’s Laboratories
• Purdue Pharma L.P.
• Orexo AB

Some of the recent developments in the substance use disorder treatment market are

• In June 2021, Indivior plc and Aelis Farma announced a strategic partnership and option-license agreement to address significant repercussions of cannabis use disorders (CUD), including cannabis-induced psychosis (CIP).
• In May 2021, JB Chemicals & Pharmaceuticals Ltd. launched NOSMOK prescription medicated nicotine lozenges as part of a 360 Tobacco Cessation initiative on ‘World No Tobacco Day’ that will aid in reducing the urge to consume tobacco.
• In November 2018, Sandoz announced the commercial launch of reSET for patients with Substance Use Disorder (SUD).
• In May 2018, US WorldMeds LLC, received the U.S. Food & Drug Administration approval for Lucemyra (Iofexidine hydrochloride), the first ever non-opioid based treatment used for management of opioid withdrawal symptoms in adults.

Report Scope
Report Attribute

Details

Growth Rate

CAGR of 5.4% from 2022 to 2032

Base year for estimation

2021

Historical data

2016 – 2021

Forecast period

2022 – 2032

Quantitative units

Revenue in USD million and CAGR from 2022 to 2032

Report coverage

Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis

Segments covered

Type, Treatment, and Region

Regional scope

North America; Western Europe, Eastern Europe, Middle East, Africa, ASEAN, South Asia, Rest of Asia, Australia and New Zealand

Country scope

U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Spain; Russia; Belgium; Poland; Czech Republic; China; India; Japan; Australia; Brazil; Argentina; Colombia; Saudi Arabia; UAE; Iran; South Africa

Key companies profiled

Teva Pharmaceutical Industries Ltd., Reckitt Benckiser Pharmaceuticals Inc., GlaxoSmithKline plc, Alkermes plc., Pfizer Inc., Cipla Limited, Intas Biopharmaceuticals, Alkermes, Allergan plc, Indivior plc, Noramco, Mallinckrodt plc, BioCorRx Inc., Glenmark Pharmaceuticals Ltd., Dr. Reddy’s Laboratories, Purdue Pharma L.P., Orexo AB, etc.

Customization scope

Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Key Segments Profiled in the Substance Use Disorder Treatment Market Survey

By Type:

• Alcohol Abuse Treatment
• Nicotine Abuse Treatment
• Drug Abuse Treatment

By Treatment:

• Detoxification
• Counselling & Behavioural Therapy
• Medication
• Support Group

By Region:

• North America
• Latin America
• Asia Pacific
• MEA
• Europe

About FMI:

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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