Drug Abuse Treatment Market To Garner US$ 26.3 Bn Threshold By 2026 | CAGR: 7.8%: Coherent Market Insights
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Global Drug Abuse Treatment Market, by Abuse Type (Alcohol Dependence, Tobacco/Nicotine Addiction, and Opioid Addiction), By Drug Type (Disulfiram, Acamprosate, Naltrexone, Methadone, Buprenorphine, Nicotine Addiction Treatment (Nicotine Replacement Treatment (Nicotine Patch, Nicotine Gum, Nicotine Lozenge, Nicotine Spray, and Nicotine Inhaler) and Non-Nicotine Medication (Bupropion and Varenicline)), and Others), By Distribution Channel (Hospital, Retail Pharmacy, and Online Pharmacy), and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa), was valued at US$ 13.4 Bn in 2017 and is projected to exhibit a CAGR of 7.8% over the forecast period (2018 – 2026).
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The rising launches of novel drugs for the treatment of drug abuse in the market is expected to fuel growth of the global drug abuse treatment market over the forecast period. For instance, in 2015, Mylan N.V. launched its new drugs Disulfiram Tablets USP, 250 mg and 500 mg, in the U.S. market, which is a generic version of Odyssey Pharmaceutical’s Antabuse. In 2017, Glenmark Pharmaceuticals launched its new nicotine replacement therapy namely Kwitz in India. Kwitz is a nicotine gum and is available in two variants, Kwitz 2 mg and Kwitz 4 mg. Kwitz 2 mg is useful for smokers having less than 20 cigarettes per day and Kwitz 4 mg is for those who smoke over 20 cigarettes in a day. In April 2018, Lil’ Drug Store Products Inc. launched its Nicotac brand nicotine gum in the market. Lil’ Drug Store Products Inc. launched its Nicotac in two nicotine strengths (2 mg and 4 mg nicotine polarcrilex). In 2017, Cipla Health, an arm of Cipla Limited, launched a new Nicotex Nicotine Patches. Nicotex Nicotine Patches are skin/transdermal patches, which helps to quit smoking in 12 months. The patches were launched by the company in 3 strengths, 21 mg, 14 mg, and 7 mg. 21 mg patch is for one who smoke over 20 cigarettes a day and 14 mg is for those who smoke less than 20 cigarettes a day.
Browse 23 Market Data Tables and 26 Figures spread through 180 Pages and in-depth TOC on Drug Abuse Treatment Market, By Abuse Type (Alcohol Dependence, Tobacco/Nicotine Addiction, and Opioid Addiction), By Drug Type (Disulfiram, Acamprosate, Naltrexone, Methadone, Buprenorphine, Nicotine Addiction Treatment (Nicotine Replacement Treatment (Nicotine Patch, Nicotine Gum, Nicotine Lozenge, Nicotine Spray, and Nicotine Inhaler) and Non-Nicotine Medication (Bupropion and Varenicline)), and Others), By Distribution Channel (Hospital, Retail Pharmacy, and Online Pharmacy), and By Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) – Global Forecast to 2026
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The rising prevalence of drug abuse and dependence in key regions is expected to result in rising demand for its treatment and management drugs over the forecast period. For instance, according to the Substance Abuse and Mental Health Services Administration (SAMHSA), around 830,000 people in the U.S. used heroin in 2015, which is more than double the number from 2002. Such rising rates of drug abuse is expected to drive the global drug abuse treatment market growth over the forecast period.
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Key Takeaways of the Drug Abuse Treatment Market:
- The global drug abuse treatment market is expected to exhibit a CAGR of 7.8% over the forecast period (2018 – 2026). This is attributed to frequent product launches, product approval, and robust pipeline of novel biopharmaceutical products.
- Among regions, North America held the dominant position in the global drug abuse treatment market and is expected to retain its dominance over the forecast period. This is attributed to the high rates of drug abuse in North America, which will in turn propel demand for its treatment drugs over the forecast period. For instance, according to the data published by National Institute of Alcohol Abuse and Alcoholism in 2015, around 15.1 million adults aged 18 and older (6.2 percent of this age group) are suffering from alcohol use disorder. This includes 9.8 million men (8.4 percent of men in this age group) and 5.3 million women.
- Asia Pacific is expected to witness significant growth over the forecast period. This is owing to rising launches of novel drugs by key players in the region. For instance, in 2017, Glenmark Pharmaceuticals launched Kwitz, a nicotine gum, in India.
- Key players operating in the global drug abuse treatment market include Cipla Limited, Glenmark Pharmaceuticals, Pfizer Inc., Mylan N.V., Odyssey Pharmaceuticals Inc., Lil’ Drug Store Products Inc., Indivior Plc., Dr. Reddy’s Laboratories, Teva Pharmaceutical Industries Ltd., and British American Tobacco Plc.
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