"Designing Growth Strategies is in our DNA"
In November 2017, Indivior PLC received approval by the U.S. Food and Drug Administration for a monthly injection of buprenorphine to treat opioid addiction. Substance abuse is defined as the harmful use of psychoactive substances, comprising illegal drugs and alcohol. The use of a psychoactive substance can cause dependence syndrome - a combination of physiological problems, cognitive, behavioral, and that develop after steady consumption of the substance. The other symptoms include difficulty in controlling the use, increased tolerance of the substance, and others. It has been projected that worldwide approximately 62 million people had a drug consumption disorder in 2017, one-third female (20 million) and two-thirds were male (40 million). In November 2017, the Food and Drug Administration (FDA) approved an electronic stimulation device called NSS-2 Bridge, used to reduce opioid withdrawal symptoms.
The global substance abuse treatment market growth is being driven by the increasing incidence & prevalence of illicit drug intake in adults and excessive consumption of tobacco & alcohol. Various awareness campaigns being introduced by the regional non-profit organizations and national governments through advertisements on television, newspapers, magazines, and others have increased the awareness about substance abuse treatment. This is expected to further augment the number of patients undergoing substance abuse treatment, and fuel the growth of the market during the forecast period.
Key Market Driver -
- Increasing incidence & prevalence of illicit drugs intake in adult, combined with excessive consumption of tobacco and alcohol
Key Market Restraint -
Lack of treatment endurance and compliance among the patients.
The factor that is expected to inhibit the growth of the market is the lack of awareness among the general and patient population, especially in developing countries about substance abuse treatments available and lack of treatment endurance and compliance among the patients.
By treatment, the market is segmented into alcohol addiction treatment, tobacco/nicotine addiction treatment, opioid addiction treatment, and others. Based on distribution channels, the substance abuse treatment market is segmented into hospital pharmacies, retail pharmacies, and other distribution channels.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The major companies covered in the global substance abuse market are Cipla Ltd., Alkermes plc, Allergan plc, Pfizer Inc., GlaxoSmithKline plc, Orexo AB, Mallinckrodt, Purdue Pharma L.P, Reckitt Benckiser Group plc, and Intas Pharmaceuticals Ltd., and other players.
At present, nicotine addiction treatment considered to account for the highest market share. This is due to the highest sale of nicotine gum in the market, this segment is predicted to continue the dominance in the forecast period.
The global substance abuse treatment market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The substance abuse treatment market is anticipated to expand in North America during the forecast years owing to the higher prevalence of drug addiction. For instance, according to a study conducted by Addiction Center, a US-based non-profit organization, an estimated 700,000 people lost their lives due to drug abuse in the US during the past two decades. Moreover, according to the study, deaths caused due to drug abuse in the US have been tripled since 2000.
To gain extensive insights into the market, Request for Customization
This, combined with initiatives taken by the government in order to reduce drug abuse are likely to offer significant opportunities for the growth of the North America substance abuse treatment market during the forecast period. In Europe, increasing awareness about consequences caused by drug abuse in countries such as Germany, UK, and France is projected to boost the growth of the Europe substance abuse treatment market by 2026. Asia Pacific expected to register a comparatively higher CAGR from 2019-2026 due to a higher prevalence of drug abuse, coupled with the implementation of strategic programs to curb addiction in countries such as China & India. In Latin America and Middle East & Africa, unmet needs for substance abuse treatment is expected to drive the market growth in these regions.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry