ALBANY, N.Y., Oct. 22, 2020 /PRNewswire/ -- From 2018 to 2026, the global substance abuse treatment market is set to experience a positive growth curve. In 2017, its valuation was marked at USD 8 billion, and the worth is set to grow over the forecast period. CAGR of market will be 8%. Valuation will grow to USD 16 billion by the year 2026.
Transparency Market Research (TMR) opines, "Lots of positive factors are being noted in the market landscape. Interplay of these trends and drivers is helping the growth curve take on an upward trajectory. Manufacturers in the market are also coming up with a number of initiatives that promise growth. Also, it is worth noting here that governments across the world have a sharp focus on the menace of substance abuse and are taking diverse remedial measures for the same, contributing to growth in global substance abuse treatment market."
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Key Findings of Global Substance Abuse Treatment Market Study:
- Over the forecast period, alcohol addiction treatment segment will record a notable growth rate owing to a host of factors such as lowering costs per prescription
- Sizeable global substance abuse treatment market share is expected to be held by the segment for drug abuse treatment
- End-user segment of hospital pharmacies is anticipated to be prominent from 2018 to 2026
For a detailed analysis of global substance abuse treatment market by treatment type, distribution channel, and region, visit TOC at https://www.transparencymarketresearch.com/report-toc/4067
Key Drivers of Growth in Global Substance Abuse Treatment Market:
- Increase in cases of drug abuse and alcohol abuse is being noted across the globe and these factors are helping the market improve its valuation
- Excessive use of prescription drugs is being seen and this is paving way for growth in the global substance abuse treatment market
- Notable growth in research and development is pushing the global substance abuse treatment market forward
- Players in the market are coming up with a variety of initiatives that hold potential and this is therefore set to be a major growth propeller
Analyze global substance abuse treatment market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study https://www.transparencymarketresearch.com/sample.php
Regional Analysis of Global Substance Abuse Treatment Market:
- An enabling medical infrastructure and rigorous research and development environment will aid the North American and European regions to dominate the landscape
- New drug development, advancement and integration of effective technologies are other growth factors helping the market remain on an upward facing growth curve
- Growing (excessive) use of prescription drugs in countries such as India and China is paving way for growth in the Asia Pacific (APAC) region
Competitive Landscape of Global Substance Abuse Treatment Market:
High activity is observed in the vendor landscape of this market as players take on a large number of strategies with an aim of claiming a bigger share of market revenue. It is being noted that in order to expand their geographic presence, these players are entering into distribution agreements.
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Leading global substance abuse treatment market players are Alkermes, Allergan PLC, Indivior PLC, Noramco (part of SK Capital Partners), Teva Pharmaceutical Industries Ltd, Pfizer, Inc., GlaxoSmithKline plc, Mallinckrodt plc, BioCorRx, Inc., and Glenmark Pharmaceuticals Ltd. It is interesting to note here that these players are extensively profiled in TMR's report on the market.
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By Treatment Type:
- Drug Abuse Treatment
- Nicotine Addiction Treatment
- Total NRT Therapy,
- Alcohol Addiction Treatment
- By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies and Drug Stores
- Others (Online Sales)
- By Region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Explore Transparency Market Research's award-winning coverage of the global Healthcare Industry:
Depression Drugs Market: The global depression drugs market is expected to grow at a sluggish CAGR of ~2% during the forecast period. Much of the market growth can be attributed to ongoing research and development activities, development of novel non-pharmacologic and pharmacologic interventions, increase in the number of collaborations between research institutes and pharmaceutical companies, and most importantly the growing prevalence of mild to severe depression around the world
Behavioral Health Market: According to the report, the global behavioral health market was valued at ~ US$ 196 Bn in 2018, and is anticipated to expand at a CAGR of 2.4% during the forecast period of 2019 to 2027, rise in the demand for behavioral health services and increase in the adoption of telepsychiatry are the key factors projected to boost the growth of the global market
Point-of-care Diagnostics Market: The point-of-care diagnostics market stood at US$6.8bn in 2016 and is expected to reach US$ 11.7bn by the end of 2024 with a stellar CAGR of 6.9 percent across the forecast period according to the report by Transparency Market Research (TMR). The need for making the healthcare sector more patient-centric is proving to be a beneficial factor for the increase in the growth rate of the market
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