The global substance abuse and addiction treatment market should reach nearly $4.4 billion in 2021, at a compound annual growth rate (CAGR) of 7.0%.
Substance abuse is a major concern globally as the rate of drug and alcohol addiction continues to rise, which is helping to boost the addiction treatment market, along with governmental legislation. Technological advances in the diagnostics sector, as well as the entry of new innovative companies in the diagnostics industry, have transformed the market. Consolidation trends in the in vitro diagnostics sector have also influenced the drugs of abuse (DOA) testing market. Budding industry segments within the DOA testing market include home and school drug testing kits, which are being driven by technology and policy developments.
The increasing use of psychoactive substances, including illicit drugs and alcohol, is the main factor for the rise in the global substance abuse, substance dependence and addiction treatment markets. Drug dependence holds the biggest market share, due to increasing drug and alcohol addiction among all age groups worldwide. Drug abuse is a serious health problem affecting peoples’ lives and often ruins families. In addition, drug abuse also plays a role in several social problems such has domestic violence, driving under the influence (DUI), child abuse and other stress-related issues. Therefore, it is of prime importance to monitor and control drug abuse; through drug testing that can measure the use of drugs and helps in the evaluation and proper treatment of addiction.
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The substance abuse and addiction treatment market is categorized into three types based on condition: nicotine, alcohol and drugs. The drug abuse segment recorded the highest revenue, at $2.1 billion in 2015, and is poised to grow at a compound annual growth rate (CAGR) of 6.8% throughout the forecast period. The opioid abuse segment of the drug abuse market is projected to be valued at $2.5 billion by 2021. Addiction to opioids, commonly known as opium and heroin, is on the rise and is leading to serious health problems. Furthermore, as prescription opioids reduce pain and act as a pain reliever, the incidence of addiction is greater due to the growing dependence on the medicine as the body adapts to the drug, increasing tolerance, which can lead to a physical dependence or addiction. Increasing tolerance can result in abuse by taking too much medicine, leading to a possible overdose and addiction.
The global substance abuse and addiction treatment market for the purposes of this report is segmented by detoxification drug treatment types.
The following medications are the most commonly used: Chantix, Zyban, Campral, Antabuse, methadone, Suboxone and other detoxification treatments.
By geographic region, the global substance abuse and addiction treatment market is divided into North America, Europe, Asia-Pacific and ROW. North America held the largest market share in 2015, accounting for $1.6 billion and rising at a CAGR of 6.4% during the reporting period. It is anticipated that the market will reach nearly $2.4 billion by 2021. In North America, the U.S. leads the market due to the surging use of prohibited drugs and the expanding population of addicts. The rise mainly reflects the ease of availability and affordability of drugs compared to developing countries. Europe held the second-largest market share, accounting for $643 million in 2015 and expected to reach $986 million by 2021 at a CAGR rate of 7.2%. However, the Asia-Pacific region is exhibiting the highest growth in the global market with an estimated CAGR of 8.5% between 2016 and 2021.
This report presents an in-depth analysis of the global substance abuse and addiction treatment market by conditions, treatments, and geographic markets; it includes the principal drug abuse conditions that are incorporated into several therapeutic treatment methods. This report examines the role of supply-chain members from manufacturers to researchers, and contains a comprehensive analysis of the dominant companies operating in the global substance abuse and addiction treatment market. The in-depth patent analysis section of the report will focus extensively on the technological trends across years and geographies such as the U.S., Europe and China.
This study considers the revenue generated by medications or therapeutics during the substance abuse treatment process. It does not review the expenses associated with services such as counseling, psychological therapy, rehabilitation or others. The report focuses on the substances that are either directly consumed or injected, hence the nicotine segment considers the medicines that help to treat smokeless tobacco addiction but does not take into account drugs that are only used for smoking cessation. The report examines all forms of opioids and cocaine in whichever form or mode they are ingested, and considers all types of alcohol abuse.
The market study is detailed for products based on applications as well as its further implication in the research and development area. These two segmentations are also discussed in depth for the given period. The market is broken down by the geographical regions of North America, Europe, Asia-Pacific and the ROW. Key market players operating in this market are Pfizer, GlaxoSmithKline, Alkermes, Teva Pharmaceuticals, Reckitt Benckiser, Forest Laboratories, and others totaling to about 20 companies.
– An overview of the global market for substance abuse and addiction treatment therapeutics
– Analyses of global market trends, with data from 2015 and 2016, and projections of compound annual growth rates (CAGRs) through 2021
– Analyses of the market based on condition, treatment type, and region
– Discussion of the market dynamics, including drivers, restraints and opportunities
– An insight into the competitive landscape of the market through new product launches, mergers and acquisitions, and partnerships
– Profiles of the key players in the market
Celtic Pharma Holdings Advisors LLP
Consern Pharma Private Limited
Eli Lilly and Company
GlaxoSmithKline plc (GSK)
Johnson & Johnson
Novartis International AG
Purdue Pharma L.P.
Reckitt Benckiser Group plc
Sun Pharmaceutical Industries Limited
Takeda Pharmaceutical Company Ltd
TEVA PHARMACEUTICALS INDUSTRIES LIMITED
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Source: EIN Presswire