Addiction Disorders Drugs Market to Grow with a CAGR of 8.95% through 2028
Increasing prevalence, the opioid epidemic, and
pharmaceutical innovation are expected to drive the Global Addiction Disorders
Drugs Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Addiction
Disorders Drugs Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Addiction Disorders Drugs Market
stood at USD 10.19 billion in 2022 and is anticipated to grow with a CAGR of 8.95%
in the forecast period, 2024-2028. This can be attributed to the post-pandemic
impact. The COVID-19 pandemic brought new challenges to addiction treatment,
including increased stress, social isolation, and disruptions in care delivery.
As societies adapt to the post-pandemic landscape, addressing the mental health
and addiction-related consequences is expected to be a driving force in the
market.
Furthermore, psychedelic-assisted therapy is gaining
recognition as a potential treatment option for certain addictive disorders,
such as alcohol and tobacco addiction. Clinical trials are exploring the
therapeutic benefits of substances like psilocybin and MDMA in controlled
settings.
Browse over XX market data Figures spread
through XX Pages and an in-depth TOC on "Global Addiction
Disorders Drugs Market.”
The industry is experiencing rapid expansion, driven
by several key factors, including heightened awareness of available treatments
and the increasing prevalence of substance abuse disorders. Furthermore,
supportive government initiatives, such as drug awareness campaigns and
prevention programs, are anticipated to fuel industry growth over the forecast
period. Substance abuse refers to the misuse of illegal drugs, prescription or
over-the-counter medications, or alcohol, either in quantities exceeding recommended
limits or for purposes other than their intended use. Such misuse can lead to a
range of social, physical, emotional, and occupational challenges for
individuals.
In 2021, cannabis emerged as the most commonly used
substance worldwide, with an estimated 192 million users. Opioids, on the other
hand, pose the greatest threat, with the number of deaths attributable to
opioid use disorders rising by 71% over the past decade, particularly among
women, where there was a 92% increase compared to a 63% increase among men. The
escalating rates of addiction within the population underscore the imperative
to raise awareness about the health risks posed by illicit drugs. Both public
and private organizations are diligently organizing campaigns and initiatives
aimed at educating people about the detrimental effects of substance abuse and
promoting the adoption of addiction treatment among those struggling with
addiction.
For instance, in March 2022, the Texas Health and Human
Services launched a USD 23.2 million public awareness campaign focused on
preventing substance abuse disorders and facilitating access to addiction
treatment and services. Additionally, the growing uptake of Nicotine
Replacement Therapy (NRT) due to increased public awareness of the harmful
effects associated with smoking presents an opportunity for market expansion.
The acceptance of NRT is expected to rise further with advancements in therapy,
including the introduction of innovative products such as flavored chewing
gums, heat-not-burn products, and lozenges.
For instance, in February 2023, Sesh+, a company
dedicated to smoking cessation and addiction treatment, introduced NRT products
in flavors like cinnamon, pomegranate, and wintergreen, aimed at boosting
treatment adoption. However, industry growth is hindered by the challenge of
addiction relapse following the discontinuation of therapies. According to estimates
from the National Institute on Drug Abuse, 40-60% of individuals experience
relapse within 30 days of leaving an inpatient addiction treatment center, with
nearly 85% relapsing within the first year of treatment. Patients are
prescribed medications to help alleviate cravings and restore healthy brain
function, as these medications also aid in managing withdrawal symptoms during
the initial detoxification phase, which marks the first step in addiction
treatment.
The Global Addiction Disorders Drugs Market is
segmented into type, end-use, regional distribution, and company.
Based on its type, the tobacco/nicotine and vaping
sector claimed the largest portion of total revenue in 2022. This sector's
prominence can be attributed to the rising prevalence of tobacco addiction
within the population. It is estimated that approximately 22.3% of the global
population is tobacco users, resulting in the annual loss of 8 million lives.
Tobacco is often considered a gateway substance, as it can lead to the use and
abuse of other substances. Teenagers who smoke are 22 times more likely to use
cocaine, 8 times more likely to use marijuana, and 3 times more likely to
consume alcohol compared to non-smokers. Tobacco is associated with causing
harm to nearly every organ in the body, including lung impairment and decreased
lung function. This underscores the pressing need for addiction treatment for
individuals dealing with such health conditions.
On the other hand, the alcohol sector is anticipated
to exhibit the most rapid growth rate in the foreseeable future, owing to its
widespread consumption, easy availability, and increased social acceptance,
leading to higher global consumption. According to estimates from the World
Health Organization (WHO), 3 million deaths occur worldwide each year due to
the harmful use of alcohol, representing 5.3% of all fatalities. Following
tobacco addiction, alcohol abuse is the second most prevalent form of substance
abuse on a global scale. Alcohol use disorder arises when a person's drinking
habits result in distress or harm, affecting approximately 10% of adult men and
5% of adult women. The market for alcohol addiction treatment is projected to
experience significant growth during the forecast period, including the
utilization of key drugs such as disulfiram, acamprosate, and naltrexone for
alcohol addiction treatment.
Based on end-use, the hospital segment within the
industry emerged as the dominant force in 2022, securing the largest portion of
the total revenue. This dominance can be attributed to several factors.
Firstly, there is a delay in the detection of addiction-related conditions due
to social stigmatization among patients. This leads to reluctance on their part
to seek treatment, resulting in the development of severe addiction cases that
necessitate hospitalization for comprehensive addiction treatment. This, in
turn, propels the growth of this segment. Additionally, individuals engaged in
prolonged substance abuse often suffer from other health issues, such as
cardiovascular disease, stroke, cancer, HIV/AIDS, Hepatitis B and C, lung
ailments, and mental disorders. Hospitals, as primary treatment centers, also
offer services to address these health conditions linked to substance abuse.
Conversely, the rehabilitation centers segment is
expected to exhibit the most rapid CAGR during the forecast period.
Rehabilitation centers provide a wider array of treatment options, amenities,
and specialized care, including dual diagnosis, making them the preferred
choice for patients requiring long-term addiction treatment programs, which may
span from six months to a year or longer. Furthermore, rehabilitation centers
are forging partnerships with hospitals to enhance patient care. However, it's
worth noting that the high cost associated with addiction treatment within
rehabilitation centers is anticipated to act as a hindrance to the growth of
this segment. For instance, a general outpatient rehab program costs between
USD 1,400 to USD 10,000 over 30 days, averaging around USD 5,700 per month.
It's important to note that addiction treatment pharmaceutical products
represent only a fraction of these overall costs.
Major companies operating in Global Addiction
Disorders Drugs Market are:
- Teva Pharmaceutical Industries Ltd
- Abbott Laboratories Inc
- GSK PLC
- Cipla Ltd
- Eli Lilly and Co Ltd
- Novartis AG
- Sun Pharmaceutical Industries Ltd
- Dr. Reddy's Laboratories Limited
- Viatris Inc.
- AstraZeneca PLC
Download
Free Sample Report
Customers can also request for 10%
free customization on this report.
“The Global Addiction Disorders Drugs Market is on the
cusp of significant transformation, with the upcoming trends poised to reshape
the landscape of addiction treatment. Personalized medicine, telemedicine,
expanded medication options, and innovative therapeutic approaches promise to
make treatment more effective and accessible. As research and awareness
continue to evolve, the market is well-positioned to provide hope and support
to individuals and communities grappling with addiction disorders in the years
ahead,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Addiction Disorders Drugs Market By
Type (Tobacco/Nicotine & Vaping, Alcohol,
Marijuana, Synthetic Cannabinoids, Prescription & Over-the-Counter
Medications, Others), By End-Use (Hospitals, Clinics, Rehabilitation Centers,
Others), By
Region, By Competition Forecast
& Opportunities, 2018-2028F”, has evaluated the future growth potential of Global
Addiction Disorders Drugs Market and provides statistics & information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Addiction
Disorders Drugs Market.
Contact
Mr. Ken Mathews
Techsci Research LLC
420 Lexington Avenue, Suite 300,
New York, United States- 10170
Tel: +1-332-258-6602
Email: [email protected]
Website: www.techsciresearch.com