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There are certain factors that are driving the market growth includes rising drug awareness campaigns and prevention programs, a high number of addicted population, and technological advancement in the diagnostics industry.
The rise in the drug awareness campaigns and associated prevention programs is one of the primary factors linked to the growth of the market studied. It includes rising patient awareness, higher treatment-seeking rate with increased government intervention, and encouragement to curb substance abuse in several countries. Medications that help avoid relapse and control drug cravings also propel the market studied.
Additionally, an increasing number of treatment centers that have collaborations with private recovery facilities are entering the market, thus helping in the expansion of treatment access to a higher number of people in society. Furthermore, other factors, such as a high number of addicted population and technological advancement in the diagnostics industry, are transforming and driving this market.
However, the discontinuation of behavioral therapies often leads to a relapse of addiction, which is a crucial factor hindering the growth of the market. Many patients opt for outpatient care for the treatment of drug dependence. In addition, the high reluctance of individuals for accessing treatment modalities and poor treatment compliance in some countries hinder the growth of the market studied.
Key Market Trends
Tobacco/Nicotine Addiction Treatment is Expected to Dominate the Market
Tobacco and its usage through consumption and smoking are harmful, as it kills half of its users globally, as stated by the World Health Organization. The data from the WHO also states that tobacco kills more than 8 million people each year. More than 7 million of those deaths are the result of direct tobacco use while around 1.2 million are the result of non-smokers being exposed to second-hand smoke. Moreover, the usage of tobacco is more in developing and underdeveloped countries. Hence as these economies as not as strong as developed economies, the burden of treating such population is more on these economies.
The utilization of electric cigarette is also contributing to the high usage of tobacco across the developing and developed nations. Despite the understanding of the general population that E-Cigarette is less harmful, studies have indicated that the E-cigarette consumption leads to several serious health issues associated with tobacco. Hence, all these factors are expected to help this market grow.
North America is expected to Dominate the Market During the Forecast Period
According to the Center for Disease Control and Prevention, tobacco product use among US youth is increasing. As per this data, in 2018, more than 1 in 4 high school students and about 1 in 14 middle school students had used a tobacco product. This was observed to have considerably increased from 2017, which was driven by an increase in e-cigarette use. In the US, e-cigarette use increased from approximately 12% to more than 20% among high school students and from 3.3% to 4.9% among middle school students from 2017 to 2018.
The United States has a developed healthcare system that has one of the largest expenditures on healthcare. Its investment in research and development is also large. As a result of these factors, a large population is able to get the required treatment it needs. Owing to these factors, the substance abuse treatment market in the US is expected to be one of the largest and is also expected to grow in the future.
The majority of the substance abuse treatment products are being manufactured by the global key players. Market leaders with more funds for research and a better distribution system have established their position in the market. Moreover, Asia-pacific is witnessing the emergence of some small players due to the rise of awareness. This has also helped the market grow.
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