DRUG ADDICTION TREATMENT MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
The global drug addiction treatment market is estimated to be valued at USD 17.61 Bn in 2024 and is expected to reach USD 28.72 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 7.2% from 2024 to 2031. The global drug addiction treatment market has been witnessing steady growth in the recent past owing to the rising prevalence of drug abuse across both developed and developing nations worldwide. In June 2020, according to the United Nations Office on Drugs and Crime (UNODC), around 269 million people worldwide used drugs at least once in 2020. The easy availability of illicit substances coupled with socio-economic vulnerabilities has significantly contributed to the drug addiction crisis. In response, governments across countries have been ramping up efforts to provide evidence-based treatment services to help individuals overcome substance use disorders. This has majorly driven the demand for various pharmacological and psychological addiction treatment drugs and therapies in the global drug addiction treatment market.
Market Dynamics:
The key drivers propelling the global drug addiction treatment market growth include growing social acceptance of drug abuse disorders as a medical condition requiring treatment instead of criminalization, increasing healthcare spending by governments to expand treatment facilities, and rising number of opioid analgesic users contributing to the opioid crisis. However, factors such as lack of social support programs post-detoxification, stigma associated with substance abuse treatment, and scarcity of medical professionals with specialized addiction treatment training pose challenges to market players. On the positive side, ongoing research for novel treatment drugs with better safety and efficacy profiles as well as integration of digital technologies in counseling programs present high-growth opportunities for stakeholders.
Key Features of the Study:
- This report provides an in-depth analysis of the global drug addiction treatment market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global drug addiction treatment market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Indivior PLC, Pfizer Inc., Johnson & Johnson, Alkermes, Mallinckrodt Pharmaceuticals, Teva Pharmaceutical Industries, GSK Plc., AbbVie Inc., Otsuka Pharmaceutical Co., Ltd., Lundbeck A/S, Hikma Pharmaceuticals, Alkermes Plc., Sandoz (a Novartis division), AcelRx Pharmaceuticals, and Nuvectra Corporation
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global drug addiction treatment market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global drug addiction treatment market
Market Segmentation
Table of Contents
*Browse 32 market data tables and 28 figures on 'Drug Addiction Treatment Market' - Global forecast to 2031
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