Global Substance Abuse And Addiction Treatment Market Set For 10.5% Growth, Reaching $17.4 Billion By 2028

The Business Research Company's Global Substance Abuse And Addiction Treatment Market Set For 10.5% Growth, Reaching $17.4 Billion By 2028

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The substance abuse and addiction treatment market will grow from $10.54 billion in 2023 to $11.67 billion in 2024, achieving a CAGR of 10.7%. This growth is driven by increased awareness, government initiatives, policy changes, advances in treatment approaches, and the integration of mental health and addiction services.

What Is the Projected Market Size of the Global Substance Abuse And Addiction Treatment Market and Its Growth Rate?

The market is projected to grow rapidly, reaching $17.4 billion by 2028 with a CAGR of 10.5%. Growth drivers include rising substance abuse cases, personalized treatment plans, expanded access to services, telehealth, and mental health advocacy. Key trends include preventive education, collaboration with mental health professionals, remote interventions, outpatient service expansion, and innovative therapeutic research.

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What are the Key Drivers Fueling Growth in the Substance Abuse And Addiction Treatment Market?

A high prevalence of alcohol use is anticipated to drive the growth of the market. The rise in alcohol consumption disorders has led to an increased demand for treatment options. For instance, RTI International published data indicating that alcohol consumption was 39% higher in November 2020 compared to February 2020, with binge drinking increasing by 26% between February and April 2020. This escalating prevalence of alcohol use disorders will fuel the need for substance abuse and addiction treatment services.

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Who Are the Key Players Driving Growth in the Substance Abuse And Addiction Treatment Market?

Major companies operating in the 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

What Are The Emerging Trends Shaping The Growth Of The Substance Abuse And Addiction Treatment Market?

New product innovation is emerging as a significant trend in the market. Companies are developing cutting-edge products to solidify their market positions.

What Are the Segments of the Global Substance Abuse And Addiction Treatment Market?

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

Geographic Overview: North America at the Helm of the Substance Abuse And Addiction Treatment Market

North America was the largest region in the market in 2023. The regions covered in the market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Understanding the Definition of the Substance Abuse And Addiction Treatment Market

Substance abuse refers to the compulsive use of substances that leads to significant negative social, occupational, legal, or interpersonal consequences, including missed work or school, arrests, and relationship problems. Addiction denotes a psychological or physical dependence on substances like alcohol or drugs, used illegally or excessively.

The Substance Abuse And Addiction Treatment Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

Overview of the Global Substance Abuse And Addiction Treatment Market Report: Trends, Opportunities, Strategies, and More
The Substance Abuse And Addiction Treatment Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into substance abuse and addiction treatment market size, substance abuse and addiction treatment market drivers and trends, substance abuse and addiction treatment market major players, substance abuse and addiction treatment competitors' revenues, substance abuse and addiction treatment market positioning, and substance abuse and addiction treatment market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.

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Oliver Guirdham
The Business Research Company
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