Drug Abuse Treatment Market was valued at US$ 13.4 Bn in 2017 and is projected to exhibit a CAGR of 7.8% over the forecast period (2018 – 2026)[caption id="attachment_246519" align="alignleft" width="200" caption="Coherent Market Insights Logo"][/caption]
(EMAILWIRE.COM, August 06, 2018 ) Global Drug Abuse Treatment Market, by Abuse Type (Alcohol Dependence, Tobacco/Nicotine Addiction, and Opioid Addiction), by Drug Type (Disulfiram, Acamprosate, Naltrexone, Methadone, Buprenorphine, Nicotine Addiction Treatment ((Nicotine Replacement Treatment (Nicotine Patch, Nicotine Gum, Nicotine Lozenge, Nicotine Spray, and Nicotine Inhaler)) ((Non-Nicotine Medication, (Bupropion, and Varenicline)), and Others), by Distribution Channel (Hospital, Retail Pharmacy, and Online Pharmacy) and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) was valued at US$ 13.4 Bn in 2017, and is projected to exhibit a CAGR of 7.8% over the forecast period (2018 – 2026), as highlighted in a new report published by Coherent Market Insights. Increasing launches of novel drugs for treatment of drug abuse in market is expected to drive the global drug abuse treatment market growth in near future.
Latest trends and insights prevalent in the Drug Abuse Treatment Market
Furthermore, increasing prevalence of drug abuse and dependence in key regions are expected to increase the demand for its treatment and management drugs in near future. For instance, according to the Substance Abuse and Mental Health Services Administration (SAMHSA), around 830,000 people in the U.S. used heroin in 2015, which is more than double the number from 2002. Such increasing rates of drugs abuse are expected to fuel growth of the global drug abuse treatment market in near future.
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Key Takeaways of the Drug Abuse Treatment Market:
The global drug abuse treatment market is expected to exhibit a CAGR of 7.8% over the forecast period (2018 – 2026), owing to frequent product launches, approval and robust pipeline of novel biopharmaceutical products North America held the dominant position in the global drug abuse treatment market and is expected to retain its dominance over the forecast period (2018 – 2026). This is due to the high rates of drug abuse in region, which are expected to increase demand for its treatment drugs over the forecast period. For instance, according to the data published by National Institute of Alcohol abuse and Alcoholism in 2015, around 15.1 million adults ages 18 and older (6.2 percent of this age group) are suffering from Alcohol Use Disorder. This includes 9.8 million men (8.4 percent of men in this age group) and 5.3 million women Asia Pacific is expected to witness significant growth over the forecast period due to increasing launches of novel drugs by key players in the region. For instance, in 2017, Glenmark Pharmaceuticals launched a new Kwitz is a nicotine gum in India. Major players operating in the drug abuse treatment market include Cipla Limited, Glenmark Pharmaceuticals, Pfizer Inc., Mylan N.V., Odyssey Pharmaceuticals Inc., Lil' Drug Store Products Inc., Indivior Plc., Dr. Reddy's Laboratories, Teva Pharmaceutical Industries Ltd., and British American Tobacco Plc.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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