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Global Info Research offers a latest published report on Drug Abuse Treatment Market Analysis and Forecast 2019-2024 delivering key insights and providing a competitive advantage to clients through a detailed report. The report contains 158 pages which highly exhibit on current market analysis scenario, upcoming as well as future opportunities, revenue growth, pricing and profitability.
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Drug Abuse can be defined as habitually, dependence of an individual on any drugs, which turns into an addiction. Opioid, alcohol, tobacco and cigarettes 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.
Factors such as growing patient awareness, higher treatment seeking rate, increased government intervention and encouragement to curb substance abuse in all countries are driving the growth of substance abuse treatment market globally.
Global sales of Drug Abuse Treatment has been increasing during the past six years with an average growth rate of 9.21%. Compared to 2016, Drug Abuse Treatment market managed to increase revenue by 7.93 percent to $13397.46 million worldwide in 2017 from $12413.16 million in 2016. Overall, the Drug Abuse Treatment market performance is positive, despite the historical fluctuations and weak economic environment.
The global Drug Abuse Treatment market is expected to reach $20944.6 million by 2023 from $14490.69 million in 2018, growing at a CAGR of 7.65% from 2018 to 2023. Factors such as frequent product launches, approval and robust pipeline of novel biopharmaceutical products, growing patient awareness, higher treatment seeking rate, growing government recognition and intervention of the issue, as well as encouragement to curb substance abuse in all countries are driving the growth of drug abuse treatment market globally.
North America and Europe are the largest downstream regions, occupied about 83% of market share, in terms of revenue. More than 49% of Drug Abuse Treatment products were put into the North America market, which held the dominant position in the global drug abuse treatment market, factors such as higher cost of therapy, better reimbursement policies and higher number of addicted population are fueling the market growth in North America. And is expected to retain its dominance over the forecast period (2018 – 2023). This is due to the high rates of drug abuse in region, which are expected to increase demand for its treatment drugs over the forecast period.
Drug Abuse Treatment market is relatively fragmented with fierce competition. Indivior is the world leading player in global Drug Abuse Treatment market with the market share of 6.76% in 2017, in terms of revenue, followed by Pfizer, Alkermes, Novartis, Mylan, Cipla, Glenmark, Dr. Reddy’s Laboratories, Teva Pharmaceutical and PLIVA (Odyssey). The top 10 listed companies accounted for 15.6% of the revenue market share in 2017. Due to the high unmet needs, vendors in the market are focusing on innovation and technological advances in treatment, this would further influence the growth of drug abuse treatment market.
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