According to the research report titled ‘Global Substance Abuse Treatment Market Size study, by Abuse Type (Alcohol Dependence, Tobacco/Nicotine Addiction, Drug Abuse, Others), by End-User (Outpatient Treatment Centers, Residential Treatment Centers, Inpatient Treatment Centers) and Regional Forecasts 2020-2027’, available with Market Study Report, global substance abuse treatment market is projected to record a substantial growth during 2020-2027.
 

For those uninitiated, use of hazardous psychoactive substances such as smoking, alcohol, and drugs is referred to as substance abuse. Rising trend of cigarette smoking among youngsters and teenagers is majorly driving the growth of global substance abuse treatment market.
 

In fact, according to GATS (Global Adult Tobacco Survey), 26.6% of Chinese population were found to be smokers which was an increase of smoking and tobacco addiction. Additionally, the number of drug addiction instances have increased with time. In 2017 for instance, the National Survey on Drug Use & Health states that 19.7 million adults in America (aged 12 and above) suffered from substance use disorder, while 38% of the U.S. adults suffered from illicit drug use disorder.
 

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Rising cognizance among patients as well as their family members of health issues and side-effects associated with substance abuse is likely to augment the market growth. The treatment given depends on depth of addiction. For instance, impatient drug abuse treatment offers intensive and fully focused environment as well as long-term treatment for patients highly affected with this disorder.
 

Further, favorable government initiatives and interventions to depreciate substance abuse throughout the country is favoring the industry expansion. On the other hand, unavailability of substance abuse treatment centers in certain countries alongside limited accessibility towards adequate treatments options are likely to impede the market growth over the analysis period.
 

From a regional perspective, North America currently holds major market share and is slated to grow substantially over the analysis period. The regional growth is attributable to increasing number of people affected by substance abusive disorder.
 

Meanwhile, Asia Pacific is also slated to grow substantially over the study period, owing to rising cognizance of substance abuse along with improving economic conditions in economies such as India and China.
 

Major contenders in global substance abuse treatment market are Accord Healthcare Ltd., Forest Laboratories Ltd., Teva Pharmaceutical Industries Ltd., Reckitt Benckiser Pharmaceuticals, Purdue Pharma L.P., Pfizer Inc., Mylan N.V., GlaxoSmithKline plc, Allergan, Inc., and Alkermes plc.