ADDICTION TREATMENT MARKET ANALYSIS

Addiction Treatment Market Size and Trends

Global addiction treatment market is estimated to be valued at USD 9.51 Bn in 2024 and is expected to reach USD 13.95 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.6% from 2024 to 2031.

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The global addiction treatment market is witnessing positive growth trends driven by increasing substance abuse and rising healthcare spending. There is growing prevalence of drug and alcohol addiction among young adults due to rising social acceptance and stress. Moreover, rehabilitation and prevention programs have improved significantly over last few years due to better treatment options and increased health insurance coverage for substance abuse programs. Key players are also focusing on the development of advanced digital therapeutics and targeted drug delivery systems to expand access and improve treatment outcomes. However, social stigma continues to be a major challenge which prevents many from seeking formal care.

Market Driver – Increasing Awareness Campaigns

Increasing awareness campaigns is expected to drive the market growth. For instance, in May 2022, The New York State Office of Addiction Services and Supports (OASAS), announced the launch of a new statewide awareness campaign to direct the public to critical addiction resources and help reduce overdose rates and save lives. The campaign will saturate regions across New York, U.S. utilizing billboards, broadcast radio and TV, transportation systems, digital services, and other non-traditional mediums.

Increasing product launches by key market is expected to drive the market growth over the forecast period. For instance, in January 2020, Wisconsin-based insurance companies, healthcare providers and others announced an agreement to do away with prior authorization requirements for most patients that can slow the prescription of drugs to treat people fighting substance abuse.