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.
Albany, NY -- (SBWIRE) -- 03/21/2018 -- Addiction to drugs and alcohol has become a very serious issue in the current world scenario. To overcome this issue, there are several customized addiction treatment centers that offer detoxification and rehabilitation programs. Market Research Hub (MRH) has freshly publicized the latest report to its massive online repository, which is titled as "Addiction Treatment Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017-2025". According to this latest study findings, increasing number of smokers and drug addicts across the world is becoming a prime factor prompting the global market for addiction treatment.
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It is estimated that around 10% of any population is addicted to drugs or alcohol. This has created the massive need for addiction treatment. Also, with the augmenting abuse of prescription drugs, the demand for addiction treatment is expected to grow in the coming years. This intelligent study clearly stated that proliferating at a CAGR of 6.60% between 2017 and 2025, the global addiction treatment market is likely to rise to US$7.70 bn by 2025 end. In 2016, the market presented an opportunity worth US$4.33 bn.
The rising provision of various governments economies in increasing the awareness pertaining to drug addiction and implementation of favorable reimbursement policies are also predictable to boost this market in the years to come. The continual introduction of innovative therapies and drugs for addiction treatment is also expected to boost this market steadily over the next few years.
This 231-page report shows a clear overview of the market, including the drivers that are helping the growth of the market, restraints that are limiting the market and new trends that are following the global addiction treatment market. This in-depth analysis of the market includes market forecast for the year 2017-2025 while considering 2016 as the base year.
Geographically, the report has segmented the addiction treatment market into North America, Middle East & Africa (MEA), Europe, Asia Pacific, and Latin America; the regions are examined in terms of revenue and volume generation along with the CAGR for the period from 2015 to 2025. It has been analyzed that the North America market holds the leading position and is projected to remain there in the years to come.
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Apart from the above element, the report has analyzed the global market for addiction treatment on the basis of type of the treatment, type of the drug, treatment center, distribution channel. On the basis of type of treatment, the market is segmented into tobacco/nicotine addiction treatment, alcohol addiction treatment, opioid addiction treatment, and others. By drug type, the market is classified into varenicline, bupropion, naltrexone, buprenorphine, acamprosate, disulfiram, methadone, and nicotine replacement products. Among these, the demand for nicotine replacement products is higher and is projected to remain same over the next few years.
In order to provide users of this report with comprehensive view of the market, analysts have included detailed competitiveness analysis and company players with their SWOT analysis and strategic overview. Popular names operating in the global addiction treatment market are Mallinckrodt, Purdue Pharma L.P, Cipla Ltd., Allergan plc, Orexo AB, Alkermes plc, Pfizer Inc., GlaxoSmithKline plc, and Reckitt Benckiser (Indivior PLC) among others.
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