Alcohol dependency treatment involves various therapeutical processes implemented to cure alcohol addiction and help patients from relapsing into excessive alcohol consumption. Alcohol dependency has severe physical, psychological, and social consequences including liver diseases, mental health issues, domestic violence, and adverse impact on personal and professional life. Several Asian countries have witnessed rising rates of alcoholism over the past decade due to changing lifestyles, social drinking culture, aggressive marketing promotions by alcoholic beverage companies, and lack of therapeutic support systems for patients suffering from alcohol dependency.
The Asia (Japan, South Korea, China, India, ASEAN) Alcohol Dependency Treatment Market is estimated to be valued at US$ 3.35 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing prevalence of alcoholism across Asia has been a major driving factor promoting the growth of alcohol dependency treatment market. The rising awareness about health risks associated with alcoholism and availability of effective treatment options has encouraged more patients to opt for therapy. The higher treatment rates, government initiatives promoting rehabilitation programs, widening network of therapy centers, and improved affordability of treatment are pivotal in accelerating the expansion of alcohol dependency treatment market in Asia over the forecast period. The availability of advanced treatment technologies including telehealth solutions and digital therapy apps have made therapy convenient and accessible to a larger patient base driving notable progress of the market.
Segment Analysis
The Asia (Japan, South Korea, China, India, ASEAN) alcohol dependency treatment market is dominated by the inpatient treatment segment. Inpatient treatment entails complete abstinence from alcohol and round-the-clock medical supervision at a healthcare facility for de-addiction. It is preferred for patients with severe alcohol use disorder and co-occurring medical or psychiatric conditions. They require 24x7 monitoring and support during the withdrawal phase. The inpatient segment accounts for nearly 60% of the Asia alcohol dependency treatment market due to the high number of patients needing inpatient detoxification and therapy each year in the region.
Key Takeaways
The global Asia (Japan, South Korea, China, India, ASEAN) alcohol dependency treatment market analysis is expected to witness high growth. By 2031, it is projected to cross US$ 6 Bn in value owing to the rising consumption of alcohol coupled with lack of awareness about responsible drinking in several Asian nations. The Asia (Japan, South Korea, China, India, ASEAN) Alcohol Dependency Treatment Market is estimated to be valued at US$ 3.35 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2024-2031.
Regional analysis: The Asia alcohol dependency treatment market is led by China, India, and Japan which collectively account for over 70% revenue share. This is because these countries have the highest alcohol consumption and growing rates of alcohol use disorder. China dominates due to its huge population and increasing preference of young adults for binge drinking at social events.
Key players: Key players operating in the Asia (Japan, South Korea, China, India, ASEAN) alcohol dependency treatment market are Capstone Turbine Corporation, NewEnCo Ltd., Elliot Company Inc., Micro Turbine Technology BV, FlexEnergy Inc., Ingersoll-Rand Company, and Global Microturbine LLC. Of these, Capstone Turbine Corporation and Elliot Company have the largest market share due to their robust product portfolios and widespread service network across Asia.
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