by The Global Substance Abuse Treatment Market caters to treating various diseases associated with substance and drug abuse, including alcohol, tobacco, and opioid dependence. Substance abuse treatment acts as medication-assisted treatment combined with counseling and behavioral therapies to help patients overcome addiction and withdrawal symptoms. The market offers a wide range of detoxification and rehabilitation treatments through both outpatient and residential methods.
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 player operating in the Global Substance Abuse Treatment Market 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. They provide diversified treatment options and services for substance abuse management.
Key Takeaways
Key players: Key players operating in the Substance Abuse Treatment Market Demand are focused on developing advanced medication-assisted therapies and combination treatment options. They are also expanding their service offerings through strategic collaborations and acquisitions.
Growing demand: There is a growing demand for substance abuse treatment worldwide due to rising cases of drug overdose, opioid addiction, and changing social habits. This is encouraging market players to scale up their production capacities and distribution networks.
Global expansion: Leading companies are expanding their international footprint in high potential markets through joint ventures, partnerships, and by establishing manufacturing and marketing hubs. The aim is to better cater to the growing needs across countries.
Market Key Trends
Combination therapy is gaining traction in the market. It involves using two or more treatment modalities together that target both substance use disorders and co-occurring mental health conditions. Drug manufacturers are focused on developing novel combination therapy drugs with minimal side effects and higher success rates.
Porter’s Analysis
Threat of new entrants: High costs of buying medical equipment and complying with regulations restrict new entrants into the substance abuse treatment market.
Bargaining power of buyers: Many buyers have low bargaining power as they depend on the substance abuse treatment provided by established facilities and services.
Bargaining power of suppliers: Suppliers of medical equipment, supplies and pharmaceutical drugs have moderate bargaining power as there are many established suppliers in this market.
Threat of new substitutes: There are few substitutes available for substance abuse treatment provided at facilities and by professional therapists and counselors.
Competitive rivalry: The global substance abuse treatment market comprises large and small facilities, clinics and professional service providers competing on service quality, innovation and prices.
Geographical Regions
North America accounts for the largest share of the global substance abuse treatment market in terms of value due to high substance abuse rates, favorable reimbursement policies and presence of major players.
Asia Pacific is expected to be the fastest growing region for the Global Substance Abuse Treatment Market Regional Analysis driven by increasing awareness, growing disposable incomes, changing lifestyles and expanding healthcare infrastructure in major countries like China and India.
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*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it.
About Author - Ravina Pandya
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