29-Apr-2021 | Market Research Store
Findings from Market Research Store report “Addiction Treatment Market Drug Abuse Type (Drug Addiction, Tobacco/Nicotine Addiction, and Alcohol Dependence), By Treatment Type (Alcohol Addiction Treatment, Tobacco/Nicotine Addiction Treatment, Drug Abuse Treatment, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies and Drug Stores, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global demand for addiction treatment market in 2019 was approximately USD 9,330 Million. The market is anticipated to grow at a CAGR of 8% and is anticipated to reach around USD 16,000 Million by 2026.
According to the National Institute on Drug Abuse, almost 54 percent of abusers in the United States are under the age of 18. Alarming figures in other parts of the world have compelled governments to raise concerns about addiction treatment, which is expected to boost the global addiction treatment industry. According to the World Health Organization, tobacco and its use by ingestion and smoking are unhealthy, since it kills half of its consumers worldwide. According to WHO statistics, tobacco kills more than 8 million people per year. More than 7 million deaths are caused by direct cigarette use, while 1.2 million are caused by non-smokers being exposed to second-hand smoke. Drug addiction is called a substance use disorder, which is characterized as a disease that affects a person's brain and actions in which the patient is unable to regulate the use of a drug or medicine, whether illegal or legal. Tobacco, alcohol, and drug addiction are all on the rise around the world, especially in developing countries like China and India. Every year, nearly 6 million people die from tobacco addiction around the world, and the figures are steadily increasing. The steady increase in annual tobacco-related deaths around the world has resulted in significant regulatory and industry pressure to reduce tobacco use and addiction.
The severity of the issue can be seen in the fact that about 21.7 million people in the United States, or 8.1 percent of the total population, undergo or need treatment for substance use disorders on a regular basis, according to the National Survey on Drug Use and Health. The one mentioned above is one of the factors contributing to the market's growth. In addition, a growing number of treatment centers with partnerships with private rehab facilities are entering the market, assisting in the expansion of treatment access to a broader range of individuals in society. Other factors, such as a large number of addicted people and technological advancements in the diagnostics industry, are also shaping and propelling this industry. However, stopping behavioral therapy often results in a relapse of addiction, which is a major impediment to the market's development. For the treatment of opioid addiction, many patients choose outpatient care. Furthermore, in some countries, the high reluctance of individuals to access treatment modalities and weak treatment enforcement stymie the market's growth. Electric cigarettes are also contributing to the widespread use of tobacco in both developing and developed countries. Despite the general public's belief that E-cigarettes are less harmful, studies have shown that E-cigarette use leads to a number of serious health problems associated with tobacco use. As a result, both of these factors are expected to contribute to the market's growth.
Browse the full “Addiction Treatment Market By Drug Abuse Type (Drug Addiction, Tobacco/Nicotine Addiction, and Alcohol Dependence), Treatment Type (Alcohol Addiction Treatment, Tobacco/Nicotine Addiction Treatment, Drug Abuse Treatment, and Others) and By Distribution Channel (Hospital Pharmacies, Retail Pharmacies and Drug Stores, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026.” Report at https://www.marketresearchstore.com/market-insights/addiction-treatment-market-828588
The addiction treatment market is bifurcated on the basis of drug abuse type, treatment type, and distribution channel. Based on drug abuse type segmentation, the market is split into drug addiction, tobacco/nicotine addiction, and alcohol dependence. The use of tobacco and nicotine has been combated by the availability of over-the-counter nicotine replacement drugs, as well as an increase in the use of prescription opioids or illicit substances, and the segment of tobacco/nicotine abuse is on a higher scale due to the simple availability of items containing tobacco/nicotine.. On the basis of distribution channels, the market is segmented into hospital pharmacies, retail pharmacies and drug stores, and others. Hospital pharmacies are the largest shareholders since recovery and detox services are delivered by rehab centers inside hospital facilities, and since the dose relies on the patients' progress, the drugs are administered by physicians and given to the patients only on the doctor's orders to prevent any long-term side effects.
North America region is estimated to dominate a market growth of addiction treatment market. The region's market dominance is attributed to the growing number of people who are addicted, well-structured reimbursement programs, and the legalization of marijuana in different states, as well as an established healthcare system that provides successful treatment for opioid addiction, both of which are contributing to the region's market development.
Some of the key players in the market are Cipla, Alkermes, Novartis AG, Pfizer, Inc., Reckitt Benckiser Pharmaceuticals, Inc, GlaxoSmithKline plc, Allergan PLC, Mallinckrodt plc, Indivior PLC, BioCorRx, Inc., Noramco, Glenmark Pharmaceuticals Ltd., Teva Pharmaceutical Industries Ltd, Mylan, and Astraea Therapeutics LLC, among others. To gain a credible foothold in the global economy, these multinational corporations have used a range of strategies, including purchasing alliances, shares, contracts, collaborations, joint ventures, new product launches, transactions, and mergers and acquisitions.
This report segments the addiction treatment market as follows:
Global Addiction Treatment Market: By Drug Abuse Type Segmentation Analysis:
Global Addiction Treatment Market: By Treatment Type Segmentation Analysis
Global Addiction Treatment Market: By Distribution Channel Segmentation Analysis
Global Addiction Treatment Market: Regional Segmentation Analysis
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