Addiction Treatment Market to achieve CAGR of 6% from 2023 to 2032, owing to the rising number of deaths due to drug overdose | insightSLICE
The global Addiction Treatment market size was estimated to be US$ 6.3 billion in 2021 and is expected grow at a CAGR of 6% between 2023 to 2032.
Due to increased public awareness and strict regulatory restrictions on the international distribution of prescription medications, the market for addiction therapy is expanding considerably.
The government and pharma companies are aggressively promoting addiction treatment and raising public awareness of the negative consequences of alcohol and drugs.
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The National Survey on Drug Use and Health (NSDUH) reported in 2017 that around 20 million American people had a drug use problem, which had an estimated annual cost of US$ 740 billion in lost productivity at work, medical expenditures, and crime-related costs.
The widespread adoption of strict rules over the purchase of drugs has been prompted by the expectation that drug abuse will be a key contributor to addiction.
Furthermore, insurance coverage for prescription medications like Chantix and Zyban is a major factor in the uptake of further therapies. The market for addiction treatment on a global scale is anticipated to expand significantly during the next years.
The key players of the Global Addiction Treatment Market are:
Some of the main competitors involved in the global addiction treatment market include Orexo AB, Pfizer, Inc., Allergan plc, Alkermes plc, Cipla Ltd., Hikma Pharmaceuticals PLC, GlaxoSmithKline plc, Mallinckrodt, Purdue Pharma L.P., and Reckitt Benckiser.
Global report covering the addiction treatment market:
The addiction treatment market report for the years 2022 to 2032 will cover topics like global market share, trends, and forecasts. In this report, the years up to 2020 as historic records, the year 2021 serves as the base year and the years from 2022 to 2032 are the forecast period, respectively.
Our research takes into account the competition environment, and the report will include an analysis of the major companies in the worldwide myasthenia gravis therapy market as well as their market forecasts.
In addition, the report will provide information on important advancements, worldwide and regional sales networks, business strategies, research and development initiatives, staff strength, and key executives for all significant Addiction Treatment providers.
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Key data from our report:
The report includes an in-depth analysis of key competitors with a majority share of the worldwide market with an emphasis on all functioning business segments and would identify the firm segment concentrating on addiction treatment goods.
Additionally, the market shares of well-known businesses operating in the worldwide addiction treatment industry would be calculated.
For instance, GlaxoSmithKline plc recorded revenue of USD 41,974.1 million in 2019, and according to the company’s assessment of its product segments, the pharmaceuticals business segment accounted for the majority of the income statement in 2019, with North America as its largest revenue-contributing geography.
They run their company through three divisions namely pharmaceuticals, vaccines, and consumer health. With a total revenue of US$21,860.0 million in 2019, the firm’s pharmaceutical division provides addiction treatment products.
All of the addiction treatment firms’ business strategies, product portfolios, important developments, SWOT analyses, and research and development priorities are taken into account in the study.
The actors involved in the market’s supply chain and value chain, as well as their contributions, will be taken into account in the analysis of the worldwide addiction treatment market. Each of the products in the addiction treatment business section of major companies would be the main emphasis of the product range.
Similar to this, the current developments section would concentrate on the most recent firm advancements, including regional growth, mergers and acquisitions, the launch of new products, and strategic partnerships and alliances in the global addiction treatment industry.
Regional performance of Addiction Treatment Market
Because of rising public awareness of drug rehabilitation, strict laws governing the purchase of medications, and attractive reimbursement policies, North America accounted for the highest proportion of the worldwide market for addiction treatment in 2019.
During the forecast timeframe, the North American addiction treatment market is anticipated to be driven by the presence of top producers of drugs for addiction therapy and government campaigns to raise public awareness of the dangers of excessive opioid use.
Due to the increased acceptance of alcohol addiction treatment, Asia Pacific is predicted to have the fastest-expanding addiction treatment market.
In the upcoming years, it is projected that the market for addiction treatment would expand due to the expansion of the pharmaceutical production sector and the promotion of natural treatments for addiction treatment.
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Global Addiction Treatment Market Key Segments:
By Treatment Type
- Alcohol Addiction Treatment
- Tobacco/Nicotine Addiction Treatment
- Opioid Addiction Treatment
- Other Substances Addiction Treatment
By Drug Type
- Bupropion
- Varenicline
- Acamprosate
- Disulfiram
- Naltrexone
- Methadone
- Buprenorphine
- Nicotine Replacement Products
- Others
By Treatment Center
- Outpatient Treatment Centers
- Residential Treatment Centers
- Inpatient Treatment Centers
By Distribution Channel
- Hospitals Pharmacies
- Medical Stores
- Others
By Geography:
- North America
- United States
- Canada
- Rest of North America
- Europe
- Germany
- United Kingdom
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- India
- China
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Brazil
- Rest of South America
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