A recently published report by Transparent Market Research (TMR) provides an exhaustive study of the U.S. substance abuse treatment market. The study, which showed that the treatment market was valued at $4.42 billion in 2015, projected that the industry would grow to $12.43 billion over the next seven years.
According to the report, outpatient treatment centers are the main drivers of this projection, with their popularity continuing to grow throughout the nation. The report examined alcohol addiction treatment, tobacco or nicotine addiction treatment and drug addiction treatment. Drug treatment is predicted to see the largest growth during the period of the forecast.
The increase in Americans addicted to alcohol, opioids and tobacco are boosting the market’s growth. Early intervention strategies by the U.S. government and expanded services by leading providers are also key cogs in the growth of the industry. U.S. customers are more aware of substance abuse treatment options than ever before. This increased awareness is pushing many to seek treatment when they might not have in the past.