Addiction treatment is a broad term that is used to refer a number of drugs, therapies and equipment used to treat patients from drug addiction.
Higher drug addiction has direct correlation with the increased crime rate in the region. Owing to this, several private and governmental bodies are taking efforts to reduce drug addiction.
Substantial increase in incidence of drug addiction, technological advancement in the diagnostics industry, rising patient awareness s are prompting several players to invest in the addition treatment. This is expected to offer a significant boost to the growth of the global addition treatment market. It is estimated that number of deaths, due to cigarette smoking, will reach 2 million by 2030 and 3 million by 2050.
Excessive Consumer Billing and Insurance Fraud Hampered the Market’s Prospects
However, one thing that is has prevailing in the addiction treatment is lack of road line for the governments regarding production, advertisement and sales of the addition treatment therapeutically. Due to this, there are several cases of misleading sales tactics, deceptive advertising and unethical marketing practices. This has even reached to illegal business activites. The global addiction treatment market has suffered a lot due to this.
Initiatives Taken by Manufacturers and Governments to Fuel Growth
Due to the above mentioned mal practices, government across the globe has taken substantial steps to regain patients trust. For instance, in February 2017, the Ad Council and Viacom launched a camping called LISTEN campaign to address America’s substance abuse crisis.
Along with this, the Secretary of Health and Human Services published a report assessing the adequateness and uniformity of licensure, accreditation and clinician education requirements for substance use disorder treatment providers nationwide.
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Further, Federal Trade Commission has announced to investigate and prosecute deceptive marketing practicing response to complaints from consumers and businesses.
Such reforms are expected to boost the growth of the addiction treatment market in the coming few years.