Substance Abuse Treatment Market Size

Substance Abuse Treatment Market Analysis

The substance abuse treatment market is expected to register a CAGR of 8.0% over the forecast period.

The lockdown and restrictions amid the pandemic canceled or delayed the diagnosis and treatment of non-COVID and non-urgent medical conditions including substance-addicted and alcohol-addicted patients. For instance, a study published in the JAMA Network in November 2021 stated that federal and state governments implemented temporary strategies for providing access to opioid use disorder (OUD) treatment during the COVID-19 pandemic, in the United States. The study further stated that all the states and Washington, DC of the United States adopted at least one telehealth policy to improvise access to OUD treatment for new patients. Thus, there was anan increase in demand for substance abuse treatment amid the ongoing COVID-19 pandemic. Although in the post-pandemic, numbers of COVID-19 patients decreased gradually which led the market to grow at a normal pace. Thus, the COVID-19 outbreak had a moderately impacted the market's growth in its preliminary phase. Moreover, the market is expected to grow further at a stable pace with the increasing demand for the susbtance abuse treatment, globally.

Further, the substance abuse treatment market is expected to grow with the rising drug awareness campaigns and prevention programs and growth in the number of addictions among the population.

The rising awareness of substance abuse, drug addiction and their prevention and management with the support of private and public bodies are expected to create more demand for substance abuse treatment. For instance, in December 2021, the Indian government launched the "Drug-Free India" campaign and issued directions for curbing drug abuse in the Indian populace. Likewise, in October 2021, the Centers for Disease Control and Prevention (CDC) launched four complementary education campaigns intended to reach young adults ages 18-34 years aimed at preventing drug overdose deaths. The campaigns provide information about the prevalence and dangers of fentanyl, the risks and consequences of mixing drugs, the life-saving power of naloxone, and the importance of reducing the stigma around drug use to support treatment and recovery. Such campaigns and initiatives are increasing awareness regarding substance abuse treatment among the addicted population, thereby contributing to the market's growth.

Furthermore, the key developments by the market players in substance abuse treatment are expected to boost market growth. For instance, in June 2021, INDIVIOR PLC and AELIS FARMA announced a strategic partnership and option-license agreement to address the significant repercussions of cannabis use disorders (CUD), including cannabis-induced psychosis (CIP). Further, in May 2021, JB Chemicals & Pharmaceuticals Ltd (JBCPL) launched NOSMOK prescription medicated nicotine lozenges as part of a 360 Tobacco Cessation initiative on 'World No Tobacco Day' that will aid in reducing the urge to consume tobacco.

Therefore, with the growth factors such as rising drug awareness, and the key developments by the market players, the studied market is anticipated to witness growth over the analysis period. However, the reluctance of individuals for accessing treatment and discontinuation of behavioral therapies, and poor treatment compliance in some countries are likely to impede the market growth.