The market presented an opportunity worth US$4.33 bn. Proliferating at a CAGR of 6.60% between 2017 and 2025, it is likely to rise to US$7.70 bn by 2025 end.
Albany, NY -- (SBWIRE) -- 03/19/2018 -- New research report offers a comprehensive analysis of the "Addiction Treatment Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017-2025"The main objective of this report is to deliver insightful information and clear-cut facts pertaining to the growth trajectories of the market.
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Global Addiction Treatment Market: Snapshot
With the increasing number of smokers and drug addicts across the world, the global market for addiction treatment is witnessing tremendous rise. The scenario is likely to remain so in the near future with the augmenting abuse of prescription drugs. The rising support of governments in various economies in increasing the awareness pertaining to drug addiction and implementation of favorable reimbursement policies are also expected to boost this market in the years to come. In 2016, the market presented an opportunity worth US$4.33 bn. Proliferating at a CAGR of 6.60% between 2017 and 2025, it is likely to rise to US$7.70 bn by 2025 end.
Tobacco/Nicotine Addiction Treatment to Report Strong Demand
Predominantly, the global addiction treatment market is analyzed on the basis of the type of the treatment, type of the drug, treatment center, distribution channel, and the geography. Based on the type of the treatment, the market is segmented into tobacco/nicotine addiction treatment, alcohol addiction treatment, opioid addiction treatment, and several other substance addiction treatment. Tobacco/nicotine addiction treatment solutions are registering a greater demand than other treatments and the trend is expected to continue in the years to come.
In terms of the type of the drug, the market is classified into bupropion, acamprosate, varenicline, disulfiram, methadone, naltrexone, buprenorphine, and nicotine replacement products. Among these, the demand for nicotine replacement products is higher and is projected to remain so over the next few years.
Based on the treatment center, the market is bifurcated into outpatient treatment centers, residential treatment centers, and inpatient treatment centers. By distribution channel, the market is divided into hospital pharmacy and medical stores.
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North America to Retain Leadership
In terms of the geography, the worldwide addiction treatment market is spread across Europe, Asia Pacific, North America, the Middle East and Africa, and Latin America. Among these, the North America market holds the leading position and is projected to remain there in the years to come. However, it is Asia Pacific, which is likely to offer the most promising growth the market players in the years to come.
The rising awareness about drug addiction and its negative impacts, favorable reimbursement policies for addiction treatment, and the high disposable income of consumers are likely to support the North America market for addiction treatment over the next few years. Asia Pacific, on the other hands, is anticipated to be driven by the rising prevalence of drug addiction, increasing number of tobacco consumers, mushrooming rehabilitation centers, and a surge in various government health programs aimed at increasing awareness regarding addiction. The improvement in the healthcare infrastructure is also predicted to boost the Asia Pacific market for addiction treatment in the near future.
At the forefront of the global market for addiction treatment are Cipla Ltd., Allergan plc, Alkermes plc, Pfizer Inc., Orexo AB, GlaxoSmithKiline plc, Purdue Pharma L.P, Mallinckrodt, and Reckitt Benckiser. The market demonstrates a consolidated landscape and is expected to remain intensely competitive in the years to come.
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