Drug Addiction Treatment Market Scope
According to the Drug report of 2016, Drug addiction is widespread globally with around 247 million drug users. Moreover, from 1999 to 2015, there are approximately 183,000 people have died in the United States reportedly due to drug overdose or related substances such as opioids. Drug addiction is a complex neurobiological disease that demands an integrated treatment of the mind, body, and spirit. It is considered as a brain disease because drugs change the brain they change its structure and how it works. Without treatment, these brain changes can last long. Further increasing number of youngsters getting affectionate with an urge to experience these drug addiction and growing healthcare infrastructure is anticipated to drive the market growth.
The market study is being classified by Type (Methadone, Buprenorphine, Naltrexone, Bupropion, Varenicline and Others), by Application (Hospitals and Clinics) and major geographies with country level break-up. According to AMA, the Global Drug Addiction Treatment market is expected to see growth rate of 7.7% and may see market size of USD7.24 Billion by 2024.
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Drug Addiction Treatment market throughout the predicted period.
Indivior (United Kingdom), Pfizer, Inc. (United States), Alkermes (Ireland), Novartis International AG (Switzerland), Mylan N.V. (United States), Cipla (India), Glenmark (India) and British American Tobacco plc (United Kingdom) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Dr. Reddy's Laboratories (India), Teva Pharmaceuticals (Israel), PLIVA (Odyssey) (United States) and Lil Drug Store plc (United States).
AdvanceMarketAnalytics has segmented the market of Global Drug Addiction Treatment market by Type, Application and Region.
On the basis of geography, the market of Drug Addiction Treatment has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Addiction Type, the sub-segment i.e. Opioid Addiction will boost the Drug Addiction Treatment market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Hospital Pharmacy will boost the Drug Addiction Treatment market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Treatment Centers, the sub-segment i.e. Outpatient Treatment Centers will boost the Drug Addiction Treatment market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
January 2019 Center on Addiction and Partnership for Drug-Free Kids announced they are merging under the name Center on Addiction. As mortalities are on the peak from drug overdoses, the organizations are uniting to accelerate progress against this deadly disease and transform how the nation addresses addiction.
In 2017, Indivior PLC received FDA approval for SUBLOCADE (Buronephrine extended-release) injection for subcutaneous use, which is indicated for the treatment of moderate to severe opioid users.
The Substance Use-Disorder Prevention that Promotes Opioid Recovery and Treatment (SUPPORT) for Patients and Communities Act of 2018, was made law to address the nationís opioid overdose epidemic. and The legislation includes provisions to strengthen the behavioral health workforce through increasing addiction medicine education; standardize the delivery of addiction medicine; expand access to high-quality, evidence-based care; and cover addiction medicine in a way that facilitates the delivery of coordinated and comprehensive treatment.
- Launch and Approval of Novel Drug for the Treatment
- Increasing Number of Death cases due to Drug Abuse
- Encouragement by the Government As Well As Rehabilitation Centers to Control Drug Addiction
- Rising Awareness among People about the Adverse Effects of Drug Addiction through Social Media
- Increasing Number of Rehabilitation center in Developed and under Developed Countries
- The Surge in the Number of Youngsters Getting Addicted to Alcohol, Tobacco, etc.
- Stringent Laws by the Government Due to Rising Prevalence of Drug Addiction
- High Investment in Healthcare Sector and Rising R & D activities
- High Cost of Drug Addiction Treatment may hamper the Market Growth
- Stringent Government Policies Related to Drugs under Pipeline for Addiction Treatment.
Key Target Audience
Pharmaceutical Companies, Traders/Distributors & Suppliers, Industry Associations, Potential Investors, Government & Regulatory Bodies and Others
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