Major Players - Addiction Treatment Industry

Mar, 2023 - by CMI

Major Players - Addiction Treatment Industry

Addiction is a condition of harmful craving to repeatedly have something or do something. People who are addiction to a certain thing do not have any control over their actions. They have a strong desire for drugs, alcohol, or other substances despite being oblivious of the risks associated with it. Addiction is a destructive disorder with a comparatively high death rate and serious social consequences. Many organizations such as Ministry of Public Health in Tunisia, Public Health England and center for disease Control and prevention have taken initiatives to spread awareness about de-addiction.

In 2021, the global Addiction Treatment Market was estimated to valued at US$ 8297.0 Mn and is expected to exhibit a CAGR of 5.3% during the years (2021-2028).

Key Leaders in the Addiction Treatment Industry:

1) Pfizer Inc.

Pfizer Inc. is a pharmaceutical and biotechnology company based in America. It was founded in the year 1849. Pfizer manufactures and produces vaccines and medicine related to oncology, neurology, cardiology, and immunology. The corporation has produced various products that yield more than US$1 billion in annual revenue.

The company ranked 64th on the Fortune 500 and 49th on the Forbes Global 2000. The headquarters are located in New York City, U.S. and the products manufactured are sold worldwide. The company was founded by Charles Pfizer and Charles F. Erhart.

As of January 2023, Pfizer Inc. and Abzena have entered into an agreement under which Pfizer will be acquiring Abzena’s manufacturing facility in Sanford, North Carolina.

2) Hikma Pharmaceuticals

Hikma Pharmaceuticals Plc. Is a multinational pharmaceutical company that was the first Arab company to export pharmaceutical products in the U.S. The Company was founded in the year 1978 by Samih Darwazah. The Headquarters are located in London, England, UK. Products manufactured include Amoclan, Prograf, and Suprax.

In January 2023, The Company launched Naloxone Hydrochloride Injection, in prefilled syringe form, which is used for the emergency treatment of opioid overdose.

3) Johnson & Johnson services

Johnson & Johnson is a Pharmaceutical industry and a medical technological industry founded in the year 1886. The company was founded by Robert Wood Johnson, James Wood Johnson, Edward Mead Johnson. Its headquarters are located in New Brunswick, New Jersey, U.S. The company has globally sold products worth $93.8 billion during 2021. The company has 250 subsidiaries.

In December 2022, Johnson & Johnson Completed the acquisition of Abiomed Inc. a medical technology company that provides circulatory and oxygenation support.

4) GlaxoSmithKline GSK plc.

GSK Plc. Is a British Multinational pharmaceutical and biotechnology company founded in the year 2000. The headquarters are located in London, England, UK. GlaxoSmithKline is the tenth largest pharmaceutical company and has ranked 294th on the 2002 Fortune Globes 500. The company was founded by Joseph Nathan. The company manufacture products for major diseases like asthma, cancer, infections and mental health.

In April 2022, the company announced its plans of acquiring Sierra Oncology Inc. for U.S$ 1.9 Billion. In May 2022, GSK announced it would acquire Affinivax and its phase II 24- Valent pneumococcal vaccine candidate for up to $3.3 Billion.

5) Cipla Ltd.

Cipla Ltd. is an Indian multinational pharmaceutical company, currently the third largest drug producing company in India. Cipla primarily develops medicines to treat respiratory disease, cardiovascular disease, arthritis, diabetes and many other medical conditions. The company was founded in the year 1935, by Khwaja Abdul Hamied and the headquarters are located in Mumbai, Maharshtra, India.

6) Titan Pharmaceuticals, Inc.

Titan Pharmaceuticals, Inc. is a development stage biotechnology company developing proprietary therapeutics using its clinically proven ProNeura long term. The company was founded in the year 1992, and the headquarters are located in South San Francisco, California, U.S. The company was founded by Louis R, Bucalo.

*Definition: Addiction Treatment Market is the process of medicinal treatment designed to help people depending on drugs and other substances.