ADDICTION TREATMENT MARKET ANALYSIS

Addiction Treatment Market, By Type (Alcohol Addiction, Tobacco/Nicotine Addiction, Opioid Addiction, and Others), By Drug Type (Opioids (Buprenorphine, Methadone, Naltrexone), Nicotine Replacement Therapies (Nicotine Gums, Nicotine Patches, Nicotine Lozenges, Non-Nicotine Medication, Varenicline, and Bupropion), By Distribution Channel (Hospital Pharmacies, Medical Stores, and Others), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Published In : May 2024
Code : CMI4853
Pages :276
Formats :
Excel and PDF
Industry : Pharmaceutical

Market Challenge – High Cost of Addiction Treatment Programs

The high cost of addiction treatment programs is significantly restraining the growth of the addiction treatment market. Addiction struggles many individuals and families financially as it is. However, the high fees associated with seeking professional help often deters those in need from accessing care. Most addiction recovery facilities charge thousands of dollars per month of treatment, which remains out of reach for many without comprehensive insurance coverage. This financial barrier prevents people from prioritizing their health and well-being. High program costs also limit the development of new innovative treatment approaches. Resources that could be used to test new evidence-based therapies through clinical trials are instead spent on making care financially possible for current patients. This stagnates growth and improvement in the industry. Data from countries that have expanded public funding and insurance coverage for addiction services show reduced addiction rates and sustained recovery outcomes. Increased access through reform that addresses affordability would support therapy completion and positive long-term health impacts, allowing the market to expand by fulfilling currently unmet needs.

Market Opportunity – Increasing Growth Strategies

Increasing growth strategies among key market players is expected to offer lucrative growth opportunities over the forecast period. Frontier Health and East Tennessee State University’s Addiction Science Center (ASC) established the Regional Recovery Ecosystem Advisory Council (RREAC) in 2022. Its goal was to prioritize opportunities to strengthen addiction recovery in the region.