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![The Asia (Japan, South Korea, China, India, ASEAN) Alcohol Dependency Treatment Market Is Estimated To Witness High Growth Owing To Increase In Binge Drinking Culture Among Youth Population](https://s3.us-west-2.amazonaws.com/timessquarereporter.com/upload/media/posts/2023-11/20/the-asia-japan-south-korea-china-india-asean-alcohol-dependency-treatment-market-is-estimated-to-witness-high-growth-owing-to-increase-in-binge-drinking-culture-among-youth-population_1700459956-b.jpg)
Market Overview:
Alcohol dependency treatment includes various therapies and programs to help people who are addicted to or dependent on alcohol. Some of the commonly used alcohol dependency treatment methods are detoxification, counseling, medications, group therapy, behavioral therapy and alternative therapies. Advantages of alcohol dependency treatment include improved health, better relationships, higher productivity and overall quality of life.
Market key trends:
The rise in binge drinking culture especially among youth population due to changing social stigma and influence of western culture has emerged as a key trend in the Asia alcohol dependency treatment market. Binge drinking is defined as consuming five or more drinks on a single occasion for men or four or more drinks on a single occasion for women. The easy availability of affordable alcohol and social acceptance of binge drinking has led to increase in alcohol abuse and dependence among young adults and college students in the region. This has boosted the demand for various alcohol dependency treatment programs and services in Asia.
The global Asia (Japan, South Korea, China, India, ASEAN) Alcohol Dependency Treatment Market Size is estimated to be valued at Us$ 2.9 Bn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Porter’s Analysis
Threat of new entrants: The Asia (Japan, Korea, China, India, ASEAN) alcohol dependency treatment market has moderate threat of new entrants due to high initial capital requirements to set up treatment facilities and established market presence of large players.
Bargaining power of buyers: The bargaining power of buyers is moderate as there are a good number of treatment options available. Buyers can negotiate on pricing and choose from a range of treatments available.
Bargaining power of suppliers: Pharmaceutical companies and medical equipment suppliers have moderate to high bargaining power over treatment providers as there are few major suppliers for drugs and equipment required for treatment.
Threat of new substitutes: Threat of substitutes is low as there are limited treatment options available for alcohol dependency.
Competitive rivalry: The market has high competitive rivalry due to presence of many large and small players offering a variety of treatment options.
SWOT Analysis
Strength: Established market presence, brand recognition, and advanced treatment facilities of major players like Seoul St. Mary's Hospital, Samsung Medical Center etc. Large pool of experienced medical professionals in major economies.
Weakness: High cost of inpatient treatment prohibiting access for lower income groups. Lack of awareness about addiction treatment in rural and less developed areas.
Opportunity: Growing health awareness, disposable incomes, and changing attitudes towards addiction treatment present growth opportunity. Untapped rural markets in major countries provide scope for expansion.
Threats: Social stigma surrounding addiction treatment acts as a deterrent. Alternative treatment methods like ayurveda, homeopathy threaten mainstream allopathic treatment options.
Key Takeaways
The Asia (Japan, Korea, China, India, ASEAN) alcohol dependency treatment market is expected to witness high growth at a CAGR of 6.6% over the forecast period, due to growing health awareness, disposable incomes, and reducing social stigma around addiction issues in the region.
Regional analysis: The market is dominated by Japan, South Korea and China which account for over 65% share due to high addiction rates, supportive policies, and developed healthcare infrastructure. Southeast Asian countries like Thailand, Malaysia and Singapore are fastest growing regional markets driven by medical tourism for addiction treatments.
Key players: Key players operating in the Asia (Japan, Korea, China, India, ASEAN) alcohol dependency treatment market are Seoul St. Mary's Hospital, Samsung Medical Center, Asan Medical Center, Peking University Sixth Hospital, Beijing Huilongguan Hospital, Shanghai Mental Health Center, AIIMS, Tata Memorial Hospital, VIMHANS, SCARF, Promises Healthcare, The Cabin Chiang Mai, The Dawn Medical Rehab and Wellness, The Solace Sabah and The Kusnacht Practice.
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