COVID-19 to Severely Impact the Patients Suffering from Substance Abuse

Sat, 18 July 2020 12:57

Substance abuse is a compulsive, excessive, and self-harmful habit that results in addiction, dependence, severe physiological injury, psychological harm, or death. The market is largely driven by the increasing awareness among the patients, higher rates of seeking treatment, and enhanced government intervention, support, and guidance to curb substance abuse.

For study purposes, the global market for the treatment of substance abuse is segmented on the basis of treatment, which includes alcohol addiction, nicotine addiction, and drug abuse. It is observed that the nicotine addiction treatment segment holds the largest market share on account of a high number of tobacco-dependent population, increasing number of approved drugs, and surging use of nicotine with other stimulants. Substance abuse, tobacco, alcohol, and drug addiction are on the rise globally, especially in developing countries, such as China and India. Nearly 6 million people across the globe succumb to tobacco addiction each year, and the number is projected to double during the forecast period.

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Substance Abuse Treatment Market?

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Impact of COVID 19

Substance abuse is a significant public health problem that continues to impact millions of people across the globe. Moreover, social and economic changes occasioned by the pandemic, along with the traditional difficulties with access and adherence to treatment will certainly worsen, further aggravating their condition. The people that smoke tobacco or marijuana are highly susceptible to the virus. Similarly, people with opioid addiction disorder and methamphetamine use disorder can also be vulnerable due to the effects on the respiratory and pulmonary health of the drugs.

Key Highlights

  • The substance abuse treatment market was valued at USD 9365.7 million in 2019 and is projected to grow with a CAGR of 8.2%
  • The nicotine abuse treatment segment is expected to hold the largest market share on account of increasing consumptionof tobacco products and rising government initiatives  
  • The medication segment holds the highest market share backed by the availability of medications to treat substance abuse and increasing product launches for the treatment of substance abuse
  • North America dominates the substance abuse treatment market on account of increasing rates of drug abuse in the region  

Key Players

  • Cipla Limited
  • Glenmark Pharmaceuticals
  • Acadia Healthcare
  • Pfizer Inc.
  • Mylan N.V.
  • Odyssey Pharmaceuticals Inc.
  • Axsome Therapeutics, Inc
  • Lil' Drug Store Products Inc.
  • Indivior Plc.
  • Reddy's Laboratories
  • Teva Pharmaceutical Industries Ltd.
  • British American Tobacco Plc.

Substance Abuse Treatment Market: Segmentation

By Type

  • Alcohol Abuse Treatment
  • Nicotine Abuse Treatment
  • Drug Abuse Treatment

By Treatment

  • Detoxification
  • Medication
  • Counseling and Behavioral therapy
  • Support Group

By Region

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • The Middle East and Africa

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

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