Global Substance Abuse Treatment Market 2017-2021
About Substance Abuse Treatment
Substance abuse is defined as an illicit use of alcohol, drugs, or cigarettes. They are potentially addictive in nature, difficult to treat, and have a negative impact on body and overall health. The major factors driving the market is the increase in substance usage and the number of associated deaths. It is also identified as a high economic burden. Substance abuse is one of the primary causes of death globally and a major economic burden. Substance abuse, along with addiction is associated with a variety of chronic diseases.
Technavio’s analysts forecast the global substance abuse treatment market to grow at a CAGR of 5.15% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global substance abuse treatment market for 2017-2021. To calculate the market size, the report considers the sales from both generic and branded drugs.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Substance Abuse Treatment Market 2017-2021
Technavio recognizes the following companies as the key players in the global substance abuse treatment market: Alkermes, Allergan, GSK, and Pfizer.
Other Prominent Vendors in the market are: Accord Healthcare, Amphastar Pharmaceuticals, Apotex, BioCorRx, Cipla, Glenmark, INSYS Therapeutics, LFB Group, Lupin, Mylan Laboratories, Opiant Technologies, Sanofi Aventis, Sanquin, Sterinova, Sun Pharma, and Teva Pharmaceutical.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is consolidation of rehabilitation centers. In the last decade, rehabilitation centers have increasingly adopted inorganic growth strategies. Acquisition of smaller rehabilitation centers by the major rehab centers across the globe have led to a uniformity in treatment patterns, increased capacity of major rehabilitation centers, and presence across various regions. Many of the smaller mental rehabilitation centers have been acquired and have expanded their functionality to include treatment for substance abuse.”
According to the report, one of the major drivers for this market is multiple facets of treatment. Substance abuse is a complex condition and involves every aspect of an individual's functioning, namely family, work/school, and the community. Therefore, a substance abuse treatment involves multiple components, where some are focused on re-establishing an individual as a productive member of the family and community. This approach is to enable an individual to recognize the benefits of a life without substance abuse.
Further, the report states that one of the major factors hindering the growth of this market is high cost of treatment. The cost of treatment for substance abuse is high owing to multiple phases involved. The total cost involves expenses associated with rehabilitation centers and facilities; therapeutics cost’ and cost associated with the physicians, psychologists, councillors, nutritionists, and many other professionals providing secondary therapies. These secondary therapies include patient counselling, health services, and detoxification services, among others.
Alkermes, Allergan, GSK, Pfizer, Accord Healthcare, Amphastar Pharmaceuticals, Apotex, BioCorRx, Cipla, Glenmark, INSYS Therapeutics, LFB Group, Lupin, Mylan Laboratories, Opiant Technologies, Sanofi Aventis, Sanquin, Sterinova, Sun Pharma, and Teva Pharmaceutical.