Drug Abuse Treatment Market- Insights
Drug Abuse can be defined as habitually, dependence of an individual on any drugs, which turns into an addiction. Alcohol, tobacco, cigarettes, heroin, and marijuana are some of the common, drugs which has been misused leading to drugs addictions. In recent past, many products have been launched in market for treatment and management of drug abuse. Some commonly used drug for treatment of drugs abuse are Disulfiram, Acamprosate, Naltrexone, Nicotine Replacement Treatment, Methadone, and Buprenorphine.
Launch and approval of novel drugs is projected to fuel market growth over the forecast period
In 2017, Indivior PLC received the U.S. Food and Drug Administration (FDA) approval for SUBLOCADE (buprenorphine extended- release) injection for subcutaneous use, which is indicated for treatment of moderate to severe opioid use disorder. Furthermore, in 2016, Teva Pharmaceutical Industries Ltd. launched a generic version of CAMPRAL1 (acamprosate calcium) delayed-release tablets, 333 mg in the U.S. market, which is indicated for the treatment and maintenance of abstinence from alcohol in patients with alcohol dependence. Moreover, in April 2018, Dr. Reddy's Laboratories received the U.S. Food and Drug Administration (FDA) approval to launch generic version of Suboxone sublingual film for all dosage forms 2 mg/0.5 mg, 4 mg/1 mg, 8 mg/2 mg, and 12 mg/3 mg indicated for the treatment of drug addiction. Suboxone is a combination of Buprenorphine and Naloxone.
In 2014, British American Tobacco plc. received approval from the UK Medicines and Healthcare products regulatory agency for new products nicotine inhaler. This new inhaler will help to quit smoking habits of addicted smokers, this new inhaler contains the same propellant found in an asthma inhaler and gives an immediate hit of nicotine through a breath-operated valve. In 2015 company launched nicotine inhaler in the UK. Frequent launches of such novel drugs in market are expected to fuel the global drug abuse treatment market growth.
The global drug abuse treatment market size was valued at US$ 13.4 Bn in 2017, and is expected to witness a CAGR of 7.8% over the forecast period (2018 – 2026).
Figure 1. Global Drug Abuse Treatment Market Share (%), By Region, 2017
Source: Coherent Market Insights Analysis (2017)
Increasing prevalence of drug abuse in key region is expected to increase demand for its treatment drugs
According to the data published by Centers of Disease Control and Prevention (CDC) in 2016, more than 15 of every 100 adults or 15.5% of adults aged 18 years or older smoked cigarettes in the U.S. according to the same source, an estimated 37.8 million adults in the U.S. currently smoke cigarettes and more than 16 million people in U.S. are suffering with a smoking-related disease. According to the World Health Organization (WHO), in 2015, round 1,100 million smokers were recorded worldwide, which includes around one-third of the global population aged 15 years. Such increasing prevalence of drug abuse in key regions is expected to propel demand for its treatment drugs and drive global drug abuse treatment market growth.
Figure 2. Global Drug Abuse Treatment Market Value (US$ Bn), (2017, 2022, 2026)
Source: Coherent Market Insights Analysis (2017)
Key players in the substance abuse treatment market are focused on receiving approval of its new drugs from major regulatory bodies. For instance, BioCorRx Inc. established a research and development initiative to seek approval of its naltrexone implant from the U.S. Food and Drug Administration (FDA) in 2016. Naltrexone implant works by releasing medicine in body for several months and reduces the cravings for alcohol and opioids.
Furthermore, the initiatives taken by various organizations to help people in preventing substance abuse and launches of new drug abuse rehab are expected to support the global drug abuse treatment market growth. For instance, in 2017, Cardinal Health, Inc launched an Opioid Action Program to support the prevention of drug abuse in Appalachia.
Key players operating in the drug abuse treatment market include Cipla Limited, Glenmark Pharmaceuticals, Pfizer Inc., Mylan N.V., Odyssey Pharmaceuticals Inc., Lil' Drug Store Products Inc., Indivior Plc., Dr. Reddy's Laboratories, Teva Pharmaceutical Industries Ltd., and British American Tobacco Plc.
Drug abuse can be defined as the dependency, addiction, overuse of drugs such as opioids, nicotine, alcohol, cigarettes, and heroin, which are most commonly used by majority of population around the globe. There are several drugs such as Disulfiram, Acamprosate, Naltrexone, and Nicotine Replacement Therapy, which are used for treatment of addiction and dependency on these drugs.
Frequent product launches, approvals, and robust pipeline of novel products are expected to be the major driver for growth of the global drug abuse treatment market over forecast period. For instance, in April 2018, Lil' Drug Store Products Inc. launched its Nicotac brand nicotine gum in the market. Lil' Drug Store Products Inc. has launched its Nicotac in two nicotine strengths (2MG and 4MG nicotine polarcrilex). Furthermore, the increasing prevalence of drug abuse is expected to increase the demand for its treatment drugs which in turn is expected to fuel global drug abuse treatment market growth. For instance, according to the data published by World Health Organization (WHO) in 2018, around 7 million people die worldwide annually due to tobacco abuse.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
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