The global Addiction Treatment market was poised to expand at a CAGR of 6.7% during the forecast period. Uptake across commercial settings is expected to grow substantially, generating an opportunity worth US$ 50 Mn over the coming decade.
Smoking products such as water pipes often involve the sharing of mouthpieces and hoses, which facilitates transmission of the novel coronavirus in communal and social settings. Conditions which increase oxygen needs or reduce the ability of the body to use it properly jeopardize patients by making them vulnerable to serious lung infections like pneumonia.
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Key Takeaways from Market Study
- The global addiction treatment market is set to expand at a CAGR of 6.7% during the forecast period.
- The rising prevalence of cigarette smoking boosts the prospects for the tobacco and nicotine addiction treatment market.
- North America is the most attractive region for the expansion of the addiction treatment market.
- Production of de-addiction drugs and other formulae to assist patients remains the key growth strategy of the market players.
Drug Education Programs to Improve Market Prospects
Addiction treatment facilities and drug awareness programmes have a big impact on the market’s expansion. Furthermore, increasing patient consciousness and support for the regulation of substance use in several countries are directly attributable to awareness campaigns and related anticipation programmes. For instance, the Indian government launched the “Medication Free India” campaign in December 2021 and provided guidelines for reducing chronic medication use among Indians.
Also, the Centers for Disease Control and Prevention (CDC) sent off four reciprocal training initiatives in October 2021 that were intended to reach young adults between the ages of 18 and 34 and were intended to stop drug overdose deaths. The missions provide information on the prevalence and risks of fentanyl, the risks and results of mixing drugs, the effectiveness of naloxone in saving lives, and the relevance of reducing stigma surrounding drug use to aid in treatment and recovery. Such initiatives are growing and supporting the growth of the market for addiction treatment.
The global Addiction Treatment market is highly competitive owing to the top global players trying to gain market share through various strategies such as mergers & acquisitions, expansions, collaborations, and partnerships. Key players in the global addiction treatment market are engaged in regulatory approvals, and launch of new products.
- In June 2021, AELIS FARMA, a biotechnology organization working in the ailment of cerebrum issues, declared essential cooperation and choice permit concurrence with INDIVIOR PLC to address the serious results of weed use problems (CUD), including marijuana prompted psychosis (CIP).
- In June 2021, Terveystalo Healthcare has procured 72% of shareholding in Feelgood Svenska AB and unveils a suggested required deal of SEK 5.7/share.
Key Companies Profiled:
- Alkermes plc
- Cipla Ltd.
- GlaxoSmithKline plc
- Pfizer, Inc.
- Hikma Pharmaceuticals PLC
- Orexo AB
- Titan Pharmaceuticals, Inc.
- Teva Pharmaceutical Industries Ltd
- Indivor Plc.
Key Segments Profiled in the Addiction Treatment Industry Survey
Fact.MR has studied the global addiction treatment market with detailed segmentation on the basis of treatment type, drug type, treatment centers, distribution channel, and key regions.
- By Treatment Type :
- Other Substances
- By Drug Type :
- Nicotine Replacement Products
- By Treatment Centers :
- Outpatient Treatment Centers
- Residential Treatment Centers
- Inpatient Treatment Centers
- By Distribution Channel :
- Hospital Pharmacy
- Medical Stores
Key Questions Covered in the Addiction Treatment Market Report
- What is the projected value of the Addiction Treatment factors Industry in 2022?
- At what rate will the global Addiction Treatment factors market size grow until 2032?
- Which are the factors hampering the growth of Addiction Treatment factors?
- Which region is expected to lead in the global Addiction Treatment factors market By 2032?
- Which are the factors driving the Addiction Treatment factors Industry during the forecast period?
- What is the expected market value of the Addiction Treatment factors market during the forecast period?
Regional Analysis For Addiction Treatment Market:
- APAC (Japan, China, South Korea, Australia, India, and the rest of APAC; the rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
- Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
- North America (USA, Canada and Mexico)
- South America (Brazil, Chile, Argentina, Rest of South America)
- MEA (Saudi Arabia, United Arab Emirates, South Africa)
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