Addiction Treatment Market to Reach a Value of ~US$ 12 Bn by the of 2030 | Transparency Market Research
Nov 23, 2022
Addiction Treatment Market: Introduction
According to the report, the global addiction treatment market was valued at ~US$ 6 Bn in 2019 and is projected to expand at a CAGR of ~6% from 2020 to 2030. Addiction treatment is intended to help an individual to prevent or stop compulsive addicted products or drugs seeking. Drug abuse and addiction treatment is provided in several different settings by using a number of behavioral and pharmacological approaches.
North America dominated the global addiction treatment market in 2019 and the trend is anticipated to continue during the forecast period. Rise in awareness regarding different opioid treatment programs and increasing government initiatives to raise awareness about substance abuse and ill effects of drugs are expected to drive the market in North America. Asia Pacific is likely to be a highly lucrative market for addiction treatment and it is expected to expand at a high CAGR during the forecast period.
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Growing Abuse of Prescription Drugs to Drive Market
The prevalence of prescription drug abuse is increasing rapidly. This, in turn, is increasing the rate of overdose deaths and the frequency of emergency room visits. The non-medical consumption of prescription drugs is growing very rapidly. According to the Substance Abuse and Mental Health Services Administration (SAMHSA), more than 6.5 million people above the age of 11 used prescription drugs for non-medical reasons in 2013 in the U.S. According to the UNODC data, globally, deaths directly caused by the use of drugs increased by 60% from 2000 to 2015.
Tobacco/Nicotine Addiction Treatment Type to Dominate Market
Based on treatment type, the global addiction treatment market has been classified into alcohol addiction treatment, tobacco/nicotine addiction treatment, opioid addiction treatment, and other substance addiction treatment. The tobacco/nicotine addiction treatment claimed the largest market share in 2019, followed by other segments. Smoking is one of the leading preventable causes of deaths and it is increasing across the globe. Thus, a large portion of tobacco/nicotine addiction treatment is funded by local states and different federal governments. Moreover, several private health plans provide coverage for the treatment of addiction and its consequences.
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Nicotine Replacement Products to Offer Lucrative Opportunities
In terms of drug type, the global addiction treatment market has been segmented into bupropion, varenicline, acamprosate, disulfiram, naltrexone, methadone, buprenorphine, nicotine replacement products, and others. The nicotine replacement products segment held a major market share in 2019. Rise in number of smokers, especially in the U.S., has increased concerns about health risks for both smokers and passive smokers. This drives the nicotine replacement products segment of the global addiction treatment market.
High Preference for Outpatient Treatment Centers
In terms of treatment centers, the global addiction treatment market has been categorized into outpatient treatment centers, residential treatment centers, and inpatient treatment centers. The outpatient treatment centers segment is anticipated to claim the higher share compared to the other segments and this is due to the high preference of outpatient treatment centers among addiction patients.
According to the National Institute on Drug Abuse, treatment outcomes improve with longer periods of care. Hence, patients prefer to visit outpatient treatment centers as they are less expensive, allow patients to attend work, provide increased access to support from friends and family members, and offer flexible timing option for treatment. Hence, the market share of the outpatient treatment centers segment is predominant over other segments and is expected to grow during the forecast period.
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North America to Dominate Global Market
In terms of region, the global addiction treatment market has been divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global addiction treatment market in 2019, followed by Europe. North America accounted for a major share of the global addiction treatment market in 2019. Increased consumption of illicit drugs and penetration of insurance plans for costly diagnosis tests, make it one of the largest markets in terms of revenue. According to the National Survey on Drug Use and Health, an estimated 741,000 adolescents suffered from an illicit drug use disorder in 2017.
The global addiction treatment market is fragmented in terms of number of players. Key players in the global market include Alkermes plc, Cipla Ltd., GlaxoSmithKline plc, Pfizer, Inc., Mallinckrodt, Hikma Pharmaceuticals PLC, Orexo AB, Titan Pharmaceuticals, Inc., Teva Pharmaceutical Industries Ltd, and Indivor Plc.
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