September 11, 2017
WELLESLEY, Mass., Sep 11, 2017 – As the rate of drug and alcohol addiction continues to rise, the global substance abuse and addiction treatment market has the potential to reach $4.4 billion by 2021. A new report by BCC Research analyzes this market by conditions, treatments, and geographic regions.
The increasing use of psychoactive substances is the main reason for the global rise in substance abuse, substance dependence, and addiction treatment. The substance abuse and addiction treatment market is categorized into three types based on condition: nicotine, alcohol, and drugs. Drug dependence holds the biggest market share. In 2016, the drug abuse segment recorded the highest revenue, at $2.3 billion, and is poised to grow at a compound annual growth rate (CAGR) of 7.0% throughout the forecast period, according to the report Substance Abuse, Addiction and Treatment: Global Markets.
The opioid abuse segment is projected to be valued at $2.5 billion by 2021. Addiction to opioids is on the rise and is leading to serious health problems.
“Drug abuse is a serious health problem affecting peoples’ lives and often ruining families,” said BCC Research analyst and report author, Yojana Jeevane. “Therefore, it is of prime importance to monitor and control drug abuse, through drug testing that can measure the use of drugs and helps in the evaluation and proper treatment of addiction.”
Drugs of Abuse Testing Market
Technological advances and the entry of new innovative companies in the diagnostics industry have transformed the market. Consolidation trends in the in vitro diagnostics sector have also influenced the drugs of abuse testing market. Budding industry segments within the drugs of abuse testing market include home and school drug testing kits, which are being driven by technology and policy developments.
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Substance Abuse and Addiction Treatment, Global Markets to 2021( PHM035C )
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