Drug Addiction Treatment Market To Reach USD 31.17 Billion By 2027 | CAGR of 7.0% | Pfizer, Indivior, Novartis, Alkermes, etc
: New York, United States, 19-July-2020, (Via WiredRelease), (Reports and Data) – The global Drug Addiction Treatment Market is forecast to reach USD 31.17 Billion by 2027, according to a new report by Reports and Data. Drug addiction can be defined as the condition that affects the behavior and brain of an individual. When an individual is addicted to a drug, he/she fails in controlling the urge to use it, in spite of knowing the harm related to the use of those drugs. The condition is not just about cocaine, heroin, or the use of other illegal drugs. Addiction to nicotine, opioid painkillers, alcohol, and other legal substances may also result in the condition.
Continuous exposure to these drugs results in effecting the ability of the functioning of their brain, which leads to their lack of failure in controlling their urge to take the drug. The mentioned change in the functioning of the brain occurs over a period of time. It may result in losing self-control among individuals and lead to damaging behaviors. The extent to which an individual becomes addicted or how quick an individual gets addicted is dependent on the type of drug being consumed. Drugs like opioid painkillers have a higher risk and result in quick addiction as compared to the other types of drugs. The term drug addiction is often interchangeably used with drug abuse.
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The COVID-19 impact:
Covid-19’s spread has affected manufacturing and construction activities worldwide. Logistic limitations and reconsiderations of the raw material requirements are becoming a problem for producers. The producers have relied on derived demand as an intermediate commodity to rationalize production. The pandemic’s economic impact on companies and financial markets is also not favorable. Stock market volatility and decreasing global growth are anticipated, which will affect the market. The market has experienced a downturn over the weeks, which may continue over the next few months. The Asia Pacific is the most affected region by this pandemic, with China at the center of the outbreak. Most initiatives in multiple countries have changed to a temporary halt. Development, as well as supply, is put on hold, creating losses for suppliers, dealers and customers alike.
Key participants include
Pfizer, Indivior, Novartis, Alkermes, Cipla, Mylan, Dr. Reddy’s Laboratorie, Glenmark, PLIVA (Odyssey), and Teva Pharmaceutical.
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For the purpose of this report, Reports and Data have segmented into the global Drug Addiction Treatment market on the basis of type, propellants, application, and region:
Drug Type Outlook (Revenue, USD Billion; 2016-2027)
Tobacco/Nicotine and VapingAlcoholMarijuanaSynthetic CannabinoidsPrescription and Over-the-Counter MedicationsOthers
Treatment Outlook (Revenue, USD Billion; 2016-2027)
DetoxificationCounseling and behavioral therapiesRehabilitation programsSelf-help groups
End-user Outlook (Revenue, USD Billion; 2016-2027)
Hospital and ClinicsResidential treatment centers (non-hospital)Others
Regional Outlook (Revenue, USD Million; 2017-2027)
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Key aspects of the Drug Addiction Treatment Market Report:
The report comprises of Drug Addiction Treatment market overview, market share, demand and supply ratio, supply chain analysis, and import/export details.
The report explores different strategies and procedures undertaken by key market players that assist in making profitable decisions.
The report covers all the crucial information about the products and services of major competitors.
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