About Addictions Therapeutics
Addiction needs personalized treatments that address the symptoms and underlying causes of the disease, as well as the consequences that substance use has on different areas of a person’s life. This contains their ability to socialize, their physical and mental health, and consequences at work, home, school, or with the law. Addiction is a complex disease that can affect many areas of a person’s life. It was estimated that in 2017, 20.7 million Americans needed treatment for substance use disorders; however, only 2.5 million received particular substance use treatment. Drug or alcohol addiction generally cause chronic disorder characterized by occasional relapses, thus, a single treatment might not be enough. The patients might involve a series of treatments for a longer time span which will further increase the need for addiction treatments.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that European Players will contribute the maximum growth to Global Addictions Therapeutics market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Adial Pharmaceuticals (United States), Indivior PLC (United States), Bausch Health Companies (Canada), Alvogen (United States), Camurus AB (Sweden), Hikma Pharmaceuticals Plc (United Kingdom), Cipla Ltd. (India), Allergan plc (Ireland), Alkermes plc (Ireland), Pfizer Inc. (United States), Orexo AB (Sweden), GlaxoSmithKline plc (United Kingdom), Purdue Pharma L.P (United States), Mallinckrodt Pharmaceuticals (United Kingdom), Reckitt Benckiser (United Kingdom) and Teva Pharmaceuticals (Israel) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Forest Laboratories (United States), Indivior PLC (United Kingdom) and Noramco, Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Addictions Therapeutics market by Type (Therapy and Medications and Treatment [Nalaxone, Naltrexone, Bupropion, Disulfiram, Nicotine replacement products, Methadone, Varenicline]), Application (Opioid, Alcohol, Nicotine and Other) and Region.
On the basis of geography, the market of Addictions Therapeutics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End-Use, the sub-segment i.e. Treatment Center will boost the Addictions Therapeutics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Introduction to Addiction Treatment Drugs with Minimal Side Effects and Growing Demand for Nicotine Addiction Treatments especially Nicotine Gums
Market Growth Drivers:
Assistance to Voluntary Organizations for Prevention of Alcoholism and Drug Abuse and Financial Assistance in the Field of Social Defence
Challenges:
Rising Instances of Misleading Sales Tactics, Deceptive Advertising, and Unethical Marketing Practices and Highly Unregulated Sector of Drug Rehab Vulnerable to many Patients
Restraints:
Numerous Side Effects Associated with the Addiction Treatments Drugs
Opportunities:
Escalating Global Drug or Alcohol Addicted Population and Favorable Government Initiatives related to Addiction Treatment and Drug Development
Market Leaders and their expansionary development strategies
In December 2023, Evrenzo Bioscience, a clinical-stage biopharmaceutical company focused on developing novel treatments for addiction, announced its acquisition of Eupraxia Pharmaceuticals, a company developing an intranasal naloxone spray for opioid overdose reversal. This merger strengthens Evrenzo's pipeline and expands its reach into the critical area of opioid overdose prevention.
In November 2023, Alkermes received FDA approval for Vivitrol Depot, a long-acting injectable form of naltrexone for the treatment of alcohol dependence. Vivitrol Depot offers a new option for patients who struggle with adherence to daily naltrexone tablets.
According to the United States' SAMHSA (Substance Abuse and Mental Health Services Administration), the United States federal government invests billions of dollars every year into combating drug and alcohol addiction. Much of this is spent on law enforcement, but far more is spent on providing health care and treatment. While there are many different programs, the vast majority of this funding comes from Medicare, Medicaid, Veterans Administration (VA) Benefits, and the Affordable Care Act (ACA), better known as Obamacare. While many rehabs accept government funding.
Key Target Audience
Addiction Treatment Providers, Addiction Treatment Drug Manufacturers, Addiction Treatment Drug Distributors and Traders, Healthcare Industry Associations, Government Agencies, Non-Profit Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.