Demand for Substance Abuse Treatment Market to Incur Considerable Upsurge During 2016 – 2024

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Substance abuse is a serious, recurring problem that can be treated by a combination of medications and behavioral interventions including individual and group counselling. It may be caused by the consumption of illicit drugs and banned substances, or indiscriminate consumption of substances such as inhalants, alcohol, and solvents to the extent that they have a negative effect on the health of individuals. Poor social skills lead to the development of social anxiety disorders and destructive thought patterns, mostly during adolescence, leading to serious repercussions, sometimes even death.

Early recognition of substance abuse symptoms has led to the constant evolution of the market for substance abuse treatment. Various treatments and services have been developed involving physicians and healthcare professionals to help individuals come out of their situation and regain control of their lives. Numerous empirical studies are also being conducted to demonstrate the efficacy of various therapies. Since patients of substance abuse are prone to relapse, the treatments usually span over a long period. Available effective treatment modalities take into account the underlying social and cultural factors and are usually specific to the medical problem(s) the individual is suffering from.

The increasing prevalence of substance abuse in developed regions such as North America and Europe has spurred the demand for therapeutics and behavioral therapies for treating substance abuse. The declining annual cost of the treatment, favorable insurance policies and legislations to counter drug abuse, and increasing initiatives by government and private players to open more substance abuse centers are key factors positively influencing the market growth in these regions.

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Leading market players are actively focusing on substance abuse programs, especially for outpatients, to offer targeted treatments in order to gain a competitive edge over others. Several players are also partnering with substance abuse treatment facilities to expand their market presence. Major companies operating in this market include Teva Pharmaceutical Industries Ltd., Reckitt Benckiser Pharmaceuticals Inc., Alkermes plc, Pfizer, Inc., and GlaxoSmithKline plc.

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