Summary

The addiction treatment market was at USD 10 Billion in the year 2021 and is expected to grow at a strong CAGR of around 6% during the forecast period (2022-2030) owing to an increase in funding for research and development in the field, growing demand for evidence-based treatment options, and expansion of the healthcare industry and the availability of insurance coverage for addiction treatment. Moreover, there are several other factors such as the increasing prevalence of addiction and substance abuse disorders, leading to a growing demand for addiction treatment options. Further on, development in medical technology and the development of new treatment methods have expanded the range of treatment options available to individuals seeking help. Also, the increasing public awareness of mental health disorders due to alcohol or other harmful drugs, and the use of online & telehealth services, offer accessible treatment options for individuals. Moreover, there has been an increasing demand for evidence-based treatment options, including personalized & holistic treatment approaches that consider individual preferences. Additionally, addiction treatment is a rising incidence of co-occurring mental health disorders, leading to a need for integrated treatment approaches that address both addiction and mental health conditions.

Some of the major players operating in the market include Cipla Inc., Alkermes, Pfizer Inc., Orexo AB, GSK plc., Sandoz International GmbH, Reckitt Benckiser Group PLC, Teva Pharmaceutical Industries Ltd., Novartis AG, and Indivior PLC Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
“Amongst treatment type, the smart appliances segment held a dominating share of the market in 2021”
Based on treatment type, the market is segmented into alcohol addiction treatment, tobacco treatment, opioid treatment, and others. Amongst these, the tobacco treatment category is expected to grow at the fastest CAGR during the forecast period. This is due to the increasing awareness of the health risks associated with tobacco use, rising healthcare costs, and the expansion of insurance coverage for addiction treatment, and the rising prevalence of tobacco addiction among the population. Furthermore, in 2021, according to the World Health Organization (WHO), more than 8 million people die prematurely due to tobacco use each year and more than 7 million of those deaths are the result of direct tobacco use.

“Amongst treatment centers, the wireless addiction treatment technology held the majority share of the market in 2021”
By treatment centers, the market is segmented into inpatient centers, residential centers, rehabilitation centers, and others. Among these, the rehabilitation centers category captured the majority share of the addiction treatment market in 2021. This is mainly due to the rehabilitation centers are the most preferred choice for patients who are required to undergo long-term addiction treatment because they offer more treatment options, amenities, and specialized care, such as dual diagnosis. Furthermore, rehabilitation centers offer a range of evidence-based therapies and counseling to help individuals address the underlying causes of their addiction. These may include individual and group therapy, cognitive-behavioral therapy, motivational interviewing, and family therapy. these factors are also driving the growth of this market during the forecast period.

“APAC is expected to grow at the fastest CAGR during the forecast period”
The increasing incidence of substance abuse disorders and addiction. The region has a large population and a rising middle class, leading to a higher demand for addiction treatment services. Moreover, increasing government initiatives to improve access to healthcare services and the growing public awareness of addiction and mental health disorders are driving the growth of the market. In recent years, there has been a significant increase in the number of addiction treatment centers and hospitals in the region, indicating the growing market demand.

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
The global addiction treatment market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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