Tuesday, 30 November 2021 08:58 GMT

Substance Abuse Treatment Market Overview By Share, Size, Industry Players, Revenue and Product Demand

(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Nov 26, 2021, 06:59 /Comserve / -- Substance Abuse Treatment Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast

The Substance Abuse Treatment Market is expected to register a CAGR of nearly 7.2% during the forecast period (2021-2026).

Due to Covid-19 pandemic, the rehabilitation centers are have taken necessary steps in coordination with the guidelines set up by the the Center for Disease Control (CDC) and the Food and Drug Administration (FDA), as well as World Health Organization; the prognosis of patients co-occurring conditions such as chronic obstructive pulmonary disease, cardiovascular disease, and other respiratory diseases is worsened with COVID impacting the lives of substance abuse and alcohol addicted patients.

Moreover, the substance abuse has affected large population of United States each year. There has been increased addition related to alcohol dependence/abuse, marijuana, tobacco, cocaine, and other abusive products present in the market.Alcohol abuse in the United States is among the top five leading preventable cause of death, with about a million are being treated every year. With the lockdown under effect, there is large cases of postponing or cancelling rehab for substance abuse treatment centers until the crisis subsides. In addition, the federal government has eased the restriction on prescribing controlled substances by telehealth. The U.S. Drug Enforcement Administration (DEA), has also issued guidelines allowing practitioners to prescribe certain controlled substances remotely to patients in a treatment program for self-administration.

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Other factors that are driving the market growth includes rising drug awareness campaigns and prevention programs, and high number of addicted population.

The rise in the drug awareness campaigns and associated prevention programs is one of the primary factors linked to the growth of the market studied. It includes rising patient awareness, higher treatment-seeking rate with increased government intervention, and encouragement to curb substance abuse in several countries. In November 2019, Himachal Pradesh (India) CM launched a campaign on drug abuse prevention to collectively fight the evil of drug abuse by making the campaign a mass movement for creation of ill effects of drug abuse in the state.

Additionally, an increasing number of treatment centers that have collaborations with private recovery facilities are entering the market, thus helping in the expansion of treatment access to a higher number of people in society.

However, the discontinuation of behavioral therapies often leads to a relapse of addiction, which is a crucial factor hindering the growth of the market. Many patients opt for outpatient care for the treatment of drug dependence. In addition, the high reluctance of individuals for accessing treatment modalities and poor treatment compliance in some countries hinder the growth of the market studied.

Key Market Trends

Tobacco/Nicotine Addiction Treatment is Expected to Dominate the Market

Tobacco and its usage through consumption and smoking are harmful, as it kills half of its users globally, as stated by the World Health Organization. The data from the World Health Organization (WHO) also states that tobacco kills more than 8 million people each year. More than 7 million of those deaths are the result of direct tobacco use while around 1.2 million are the result of non-smokers being exposed to second-hand smoke. Moreover, the usage of tobacco is more in developing and underdeveloped countries. Hence as these economies as not as strong as developed economies, the burden of treating such population is more on these economies.

The utilization of electric cigarette is also contributing to the high usage of tobacco across the developing and developed nations. Despite the understanding of the general population that E-Cigarette is less harmful, studies have indicated that the E-cigarette consumption leads to several serious health issues associated with tobacco. However, the urban countries are witnessing large number of E-cigarette users.

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Additionally, awareness campaigns and programs initiated by the government are propelling the market studied. In July 2019, National Jewish Health launched vaping and tobacco cessation program to help with youth vaping epidemic in the United states. Hence, all these factors are expected to help this market grow.

North America is expected to Dominate the Market During the Forecast Period

North America is expected to dominate the market, due to increasing awareness compaign, and a huge population base in the area. In December 2019, Florida Government has launched a nationwide New Drug Education Campaign to prevent drug or substance abuse by the youth of Florida.

According to the Center for Disease Control and Prevention, tobacco product use among US youth is increasing. As per this data, in 2018, more than 1 in 4 high school students and about 1 in 14 middle school students had used a tobacco product. This was observed to have considerably increased from 2017, which was driven by an increase in e-cigarette use. In the US, e-cigarette use increased from approximately 12% to more than 20% among high school students and from 3.3% to 4.9% among middle school students from 2017 to 2018.

Various initiatives are being implemented by the US government to monitor the symptoms and to determine whether a population is abusing drugs and other substances. For instance, Patients and Communities Act of 2018 is the latest law implemented by the country for counter-acting drug abuse.

The United States has a developed healthcare system that has one of the largest expenditures on healthcare. Its investment in research and development is also large. As a result of these factors, a large population is able to get the required treatment it needs. Owing to these factors, the substance abuse treatment regional market is expected to be one of the largest and is also expected to grow in the future.

Competitive Landscape

The majority of the substance abuse treatment products are being manufactured by the global key players. Market leaders with more funds for research and a better distribution system have established their position in the market. Moreover, Asia-pacific is witnessing the emergence of some small players due to the rise of awareness. This has also helped the market grow.

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