The drug addiction treatment market is expected to grow at

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Wilmington, Delaware, USA, July 12, 2022 (GLOBE NEWSWIRE) — Transparency Market Research Inc.: The global drug addiction treatment market was valued at US$10.2 billion in 2021. The market is expected to grow at a CAGR of 8.5% during the forecast period, 2022 to 2031. The global drug addiction treatment market is expected to exceed value of US$23.1 billion by 2031. The global drug addiction treatment market is expected to grow owing to the growing awareness of the harmful consequences of abuse of substances, the launch of innovative programs and a growing number of rehabilitation facilities around the world. Additionally, an increasing number of treatment facilities that have collaborations with private recovery facilities are coming to market, providing a wider population with quick and easy access to treatment.

More than 36 million people worldwide suffer from drug use disorders and more than 275 million people have used drugs in the previous year, according to the World Drug Report 2021 published by the United Nations Office on Drugs and Crime (UNODC). According to the research, the expanding world population and other factors have contributed to a 22% increase in drug users from 2010 to 2019. According to the estimate, the number of drug users worldwide is expected to rise to to 11% by 2030, with a major increase of 40% in Africa due to its young and rapidly growing population.

The global drug addiction treatment market is driven by an increase in drug awareness programs, rising addiction rates of the population, and drug addiction treatment prevention measures. The demand analysis of the drug treatment market finds that the increase in drug awareness programs and related preventive actions is one of the major drivers for the expansion of the market. This involves appealing to the governments of various countries to prevent various types of drug abuse and improve patients’ understanding of their disease.

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Key Findings of the Market Report

  • In 2018, the World Bank predicted that globally each person consumed an average of 6.18 liters of hard liquor. Additionally, the global market is driven by an increase in alcohol use disorder recovery centers and knowledge.
  • As companies expand their customer base, addiction treatment professionals and product manufacturers are focusing on raising public awareness of the negative consequences of drug abuse and the importance of addiction treatment for consumers and pharmacy owners.
  • Prescription drug addiction is becoming more common, which should benefit key players in addiction treatment. This, in turn, increases the number of overdose deaths and emergency room visits. The use of prescription drugs for purposes other than treating disease is growing rapidly. Prescription drug abuse and incorrect prescriptions in the elderly are caused by the high prevalence of comorbid conditions. The need for drug abuse therapies is expected to steadily increase as the use of prescription drugs increases.

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Global Drug Treatment Market: Growth Drivers

  • In terms of distribution channel, the hospital pharmacy segment held a significant market share for addiction treatment in 2021, accounting for almost 50% of it. The category is expected to be driven by growing demand for dispensing prescriptions at various hospital pharmacies and the availability of licensed physicians. In addition to this, the recommendations of licensed doctors for the use of drugs and the reliability of the cost and quality of drugs are also expected to drive the growth.
  • In 2021, North America was leading the global drug and alcohol addiction treatment market. The regional market is expected to grow at a CAGR of 9.2% during the forecast period. Due to the increase in tobacco consumption and an increase in government measures to prevent drug abuse, the United States is expected to dominate the North American market.

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Global Drug Abuse Treatment Market: Key Players

Some of the major players in the market are

  • Teva Pharmaceutical Industries Ltd.
  • Glenmark Pharmaceuticals Ltd.
  • Individual plc.
  • GlaxoSmithKline plc.
  • BioCorRx, Inc.
  • Allergan AG

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Global Drug Treatment Market: Segmentation

type of treatment

  • Drug treatment
  • Nicotine Addiction Treatment
  • Alcohol addiction

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