Addictions Therapeutics Industry to Observe Strong Development
Posted by niket gore on September 27th, 2022
The Addictions Therapeutics Market Forecast to 2027 – COVID-19 Impact and Analysis – by Treatment Type, Drug Type, Treatment Center, and Distribution Channel, the market was valued at US$ 6,691.01 million in 2019 and is projected to reach US$ 10,735.94 million by 2027; it is expected to grow at a CAGR of 6.2% from 2020 to 2027. The report highlights trends prevailing in the global addictions therapeutics market, and the drivers and restraints pertaining to the market growth.
Based on treatment type, the global addictions therapeutics market is segmented into nicotine addiction treatment, alcohol addiction treatment, opioid addiction treatment, and other substance addiction treatment. The nicotine addiction treatment segment held the largest share of the market in 2019. Also, the same segment is estimated to register the highest CAGR in the market during the forecast period. The market growth for this segment is attributed to the increasing consumption of cigarette and tobacco products. As per the WHO, tobacco consumption is adversely affecting ~people’s health, which creates substantial burden on healthcare facilities
In North America, the US is the most affected country due to the pandemic of the COVID-19 outbreak. The country has marked the highest number of COVID-19 positive cases. Across the nation, various healthcare research centers are working on the COVID-19 therapeutics. The demand for addictions therapeutics is reduced due to lockdown and supply chain disruptions across the region, which hinders the growth of the addictions therapeutics market.
The addictions therapeutics market growth is attributed to rising addiction among the general populace and increasing awareness campaigns. However, the steep costs of drug development hinder the market growth. Cipla Ltd, Indivior Plc, Pfizer Inc, Orexo Ab, Glaxosmithkline Plc, Purdue Pharma L.P, Alvogen, Bausch Health, Camurus Ab, and Hikma Pharmaceuticals Plc are among the companies operating in the global addictions therapeutics market.
Addictions Therapeutics Market, by Region, 2019 (%)
Report : Addictions Therapeutics Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Treatment Type (Opioid Addiction Treatment, Alcohol Addiction treatment, Nicotine Addiction treatment, Other substance addiction treatment); Drug Type (Nalaxone, Naltrexone, Bupropion, Disulfiram, Nicotine replacement products, Methadone, Varenicline); Treatment Center (Inpatient treatment center, Residential treatment Center, Outpatient Treatment Center); Distribution Channel (Hospital Pharmacies, Medical stores, Others) and Geography
The report segments global addictions therapeutics market as follows:
By Treatment Type
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About the Authorniket gore
Joined: July 6th, 2022
Articles Posted: 302
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