Addiction Treatment Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3360
Addiction Treatment Market size is expected to grow significantly from 2019 to 2025.
Rising incidences of chronic conditions in alcohol addicted people positively impacts market growth. Addiction to alcohol and other illegal drugs result in hazardous repercussions on health. This scenario proves beneficial for industry growth as it surges the demand for drugs and treatment having high efficacy as well as efficiency.
Increasing government initiatives to discourage consumption of illegal drugs will propel the business growth. Government agencies such as Substance Abuse and Mental Health Services Administration (SAMHSA) is taking efforts to decline drug abuse rate by conducting several campaigns. In such initiatives, people are motivated to get rid of their ill habits pertaining to addiction. Additionally, government is also spending highly to deal with addictions that should accelerate the industry growth. However, social stigma amongst drug addicted people for undergoing treatment will restrain addiction treatment market growth to some extent .
Counseling and behavioral therapies segment is anticipated to witness considerable growth over forthcoming years. Counseling and behavioral therapies enables person to understand harmful consequences of excessive intake of alcohol and drugs. People are motivated to participate in sessions that impart strategies for coping with drug cravings, ways to prevent relapse and avoid drugs. This results in enhanced family dynamics of treated people. Thus, benefits offered by counseling and behavioral therapies will augment segmental growth.
Alcohol segment is estimated to show robust growth in near future. Increasing alcohol addiction in developed as well as developing economies will create huge opportunities for treatment centers and pharmaceutical companies to provide innovative solutions. According to Apollo hospitals, there are more than 10 million cases of uncontrolled alcohol consumption in India alone. As a result, abundant population available for treatment of alcohol addiction will escalate segment growth.
Naltrexone segment is projected to witness substantial growth over the forecast timeframe. Significant growth is attributed to benefits offered by naltrexone. Naltrexone helps in treating alcohol addiction by reducing craving for alcohol and blocks effects of opioid drugs. It is a widely prescribed medication and is most effective in combating drug addiction that should surge the segment growth.
Hospitals segment held significant revenue share throughout the analysis period. As treatment time is lengthy, doctors build and maintains healthy relations with patients. Extended and effective care obtained in hospitals enables structured support to patients. In hospitals, psychological conditions are recognized during initial phases that enables early patient recovery. Thus, qualitative treatment provided in hospitals will boost segmental growth.
North America addiction treatment market will experience robust growth in analysis time period. Changing lifestyle of people in North America is leading to stress, anxiety and depression in majority of the population living in urban areas. To curb with such conditions, people often consume drugs excessively that results in serious consequences. Therefore, government is launching various programs in order to increase the awareness regarding hazardous effects of addiction. Aforementioned factors are expected to drive the regional market growth during the forecast timeframe.
Some of the key players operating in addiction treatment market are GlaxoSmithKline plc, Pfizer Inc., Cipla Ltd, Allergan plc, Purdue Pharma L.P, Mallinckrodt, Orexo AB, Reckitt Benckiser and Alkermes plc. These industry players are implementing strategies such as joint ventures, acquisitions, mergers and new product launch. For instance, in January 2015, Purdue Pharma launched Hysingla ER, that is extended-release solid oral tablet. This strategy enable company to enhance its product portfolio.
Addiction Treatment Market By Type of Treatment, 2014-2025 (USD Million)
- Counseling and behavioral therapies
- Rehabilitation programs
Addiction Treatment Market By Type of Addiction, 2014-2025 (USD Million)
Addiction Treatment Market By Drug Class, 2014-2025 (USD Million)
Addiction Treatment Market By Distribution Channel, 2014-2025 (USD Million)
- Ambulatory Surgical Centers
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- GlaxoSmithKline plc
- Pfizer Inc.
- Cipla Ltd
- Allergan plc
- Purdue Pharma L.P
- Orexo AB
- Reckitt Benckiser
- Alkermes plc
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