Drug Addiction Treatment Market is in Trends by Rise in Global Addiction Cases
The drug addiction treatment market involves comprehensive treatment options ranging from medication, therapies to counseling. Treatment aims at mitigating cravings, managing withdrawal symptoms and helping patients stay drug-free and prevent relapses. Medications for opioid addiction treatment include methadone, buprenorphine, and naltrexone. Therapies comprise behavioral counseling, contingency management, and cognitive-behavioral therapy that help patients overcome addictive behaviors.
The Global Drug Addiction Treatment Market is estimated to be valued at US$ 17.61 Bn in 2024 and is expected to exhibit a CAGR of 7.2% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Drug Addiction Treatment are Indivior PLC, Pfizer Inc., Johnson & Johnson, Alkermes, Mallinckrodt Pharmaceuticals, Teva Pharmaceutical Industries, GSK Plc., AbbVie Inc., Otsuka Pharmaceutical Co., Ltd., Lundbeck A/S, Hikma Pharmaceuticals, Alkermes Plc., Sandoz (a Novartis division), AcelRx Pharmaceuticals, and Nuvectra Corporation. Key players are focused on developing novel delivery formulations and therapeutic options. For instance, Indivior launched Sublocade, the first monthly buprenorphine injection for drug dependence.
the drug addiction treatment market share is attributed to rising global addiction cases, recreational drug usage, and growing dependence on prescription pain medications.According to WHO, around 35 million people worldwide suffer from drug use disorders. Especially, Americas and Europe have higher addiction prevalence compared to other regions.
Globally, the drug addiction treatment market is expanding due to increasing awareness, de-stigmatization of opioid addiction, and support from healthcare policies. Many countries across Europe, Asia Pacific and Americas are focusing on improving access to addiction care through reimbursement coverage and facilities expansion. Companies are also strengthening their global drug addiction treatment footprint through approvals, collaborations and licensing deals.
Market key trends
One of the key trends in drug addiction treatment market is the rise in biosimilar development. Due to patent expiries of blockbuster drugs like buprenorphine and methadone, many generic drug makers are developing affordable biosimilar versions. This is resulting in lower treatment costs and expanding access especially in emerging nations. Other trends include combination therapies involving medication and digital therapeutic tools for remote monitoring and maintenance. Digital therapeutics are proving effective in improving patient outcomes through personalized addiction care programs.
Porter's Analysis
Threat of new entrants: The threat is moderate as the market requires extensive regulation and capital to enter. However established players have incumbent advantages.
Bargaining power of buyers: The bargaining power is high as addiction treatment has inelastic demand and buyers have many treatment options.
Bargaining power of suppliers: The power is moderate as suppliers of drugs and medical facilities have specialized Drug Addiction Treatment Market challenges and opportunities within low as there are limited substitutes for drug addiction medical treatment.
Competitive rivalry: The competition is intense as major players compete on innovation, quality, cost and service.
Geographical Regions
North America accounts for the largest share of the global drug addiction treatment market in terms of value due to growing awareness, easy accessibility to treatment options and supportive government regulations.
Asia Pacific is poised to grow at the fastest pace during the forecast period due to increasing availability of low-cost treatment options, growing substance abuse cases and rising healthcare spending in countries like China and India.
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