Addiction Treatment Market Poised to Witness High Growth Due to Increased Awareness about Health Ill-Effects of Drug Abuse

Addiction Treatment Market Poised to Witness High Growth Due to Increased Awareness about Health Ill-Effects of Drug Abuse

Growing knowledge about health hazards of addiction like heart diseases, liver damage and psychological disorders has increased demand for effective treatment options. Addiction treatment aids recovery through medication for withdrawal symptoms, counseling and behavioural therapies. Addiction is a chronic medical illness which requires continuous monitoring and treatment adherence for successful rehabilitation.

The global addiction treatment market is estimated to be valued at US$ 10598.16 Bn in 2024 and is expected to exhibit a CAGR of 29% over the forecast period between 2024 to 2030..

Key Takeaways

Key players operating in the addiction treatment are Alkremes Plc., Teva Pharmaceutical Industries Ltd., Glenmark Pharmaceuticals, Titan Pharmaceuticals, Inc., Pfizer, Inc., GlaxoSmithKline plc., Johnson & Johnson, Perrigo Company plc., Cipla Limited, Hikma Pharmaceuticals Plc., Dr. Reddy€TMs Laboratories Limited, Indivior Inc., and Mylan N.V. These players are focusing on developing novel treatment therapies like long-acting anti-addiction injections and non-addictive pain relievers.

Growing awareness about various government-supported rehabilitation programs and rising healthcare spending present lucrative opportunities in the addiction treatment market. Telemedicine and online support groups have further helped improve accessibility of treatment services.

The addiction treatment market is witnessing increased global expansion through partnerships, mergers and acquisitions which is helping companies enhance their product portfolio and geographical presence. For instance, in 2023, Glenmark Pharma acquired a 60% stake in Russia's JSC Ewopharma to expand its presence in Russia and CIS countries.

Market Drivers and Restrain

Increased opioid abuse during the COVID-19 pandemic has significantly driven growth of the addiction treatment market. Social isolation and job losses led many to opioid use as a coping mechanism exacerbating the opioid crisis. However, lack of health insurance and high cost of specialized therapies continue to restrain wider acceptance of addiction treatment services especially in low and middle-income countries.

Segment Analysis
The Addiction Treatment Market Size is dominated by the alcohol addiction segment. Alcohol addiction contributes significantly to the overall addiction disease burden. Alcohol use disorders are highly prevalent globally and have substantial social and economic costs. Hence rehabilitation and medication treatments for alcohol addiction form a major segment in this market.

Global Analysis
Regionally, North America dominates the addiction treatment market and is expected to continue its dominance during the forecast period. The region has advanced healthcare infrastructure and high healthcare expenditure. Additionally, high prevalence of substance abuse disorders such as alcohol use disorder and opioid use disorder drive market growth in North America. Europe follows North America in terms of market size in the addiction treatment market due to growing awareness about addiction disorders and availability of advanced treatment options. Asia Pacific is expected to witness fastest growth during the forecast period owing to improving access to healthcare facilities and increasing instances of substance abuse and addiction disorders in developing countries of the region.
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