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Addictions Therapeutics Market to hit USD 10,735.94 million, Globally, by 2027 at 6.2% CAGR: The Insight Partners

According to The Insight Partners’ research, the global addiction therapeutics market was valued at US$ 6,691.01 million in 2019 and is anticipated to be worth US$ 10,735.94 million by 2027, expanding at 6.2% CAGR over 2020–2027. Rising addiction among general populace and growing awareness campaigns are the leading factors credited for this expansion.

Drug addiction or substance disorder is a disease that hampers an individual’s brain, behavior, and metabolic processes, leading to an inability to control. Substances such as nicotine, alcohol, and marijuana are also considered as drugs. Non-medical use and abuse of prescription drugs have been serious and increasing issues worldwide. Addiction to abusive substances is responsible for the death of millions of people worldwide. The repeated usage of these substances often leads to harmful consequences. According to the National Institute on Drug Abuse (NIDA), ~21 million people had at least one addiction worldwide in 2019, of which only 10% received treatment for the same.

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The leaders, governing powers, and NGOs are looking for new ways to create awareness and fight the epidemic of growing substance addiction. For instance, the Council on Chemical Abuse participates in various state and national campaigns to raise awareness regarding substance misuse, recovery, and prevention. The United Nations Office of Drugs and Crime (UNODC) led a worldwide campaign that creates awareness about the major challenge caused by illicit drugs on society and the young population. The UNODC undertakes various awareness-raising activities worldwide and invites individuals, private sector, non-profit organizations, and member states to organize institutional outreach programs against illicit trafficking and drug abuse, which will aid global addiction therapeutics market expansion.

On the other hand, the rising drug development costs are likely to hinder market augmentation over the forecast timeframe.

Based on treatment types, the global addiction therapeutics marketplace is split into opioid addiction treatment, alcohol addiction treatment, nicotine addiction treatment, and others. Among these, the nicotine addiction treatment segment held 39.55% of the market share in 2018. The segment was valued at US$ 2,646.33 million in 2019 and is projected to amass US$ 4,489.36 million by 2027, expanding at 6.9% CAGR over 2020–2027.

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As per drug types, the addiction therapeutics market is arrayed into disulfiram, naltrexone, bupropion, buprenorphine, nicotine replacement products, varenicline, and others. Among these, the varenicline segment captured 23.35% of the market share in 2019. The segment was evaluated at US$ 1,562.63 million in 2019 and is slated to garner US$ 2,606.74 million by 2027, growing at 6.7% CAGR throughout.

Speaking of treatment centers, the addiction therapeutics market is segregated into inpatient, residential, and outpatient treatment centers. Of these, the outpatient treatment centers segment accounted for 55.70% of the market share in 2019. The segment amassed US$ 3,727.19 million in 2019 and is estimated to accumulate US$ 6,136.66 million by 2027, augmenting at 6.5% CAGR over 2020–2027.

Moving on to distribution channel, the addiction therapeutics market is divided into hospital pharmacies, medical stores, and others. Among these, the hospital pharmacies segment held 48.48% of the market share in 2019. The segment was gauged at US$ 3,244.11 million in 2019 and predicted to be worth US$ 5,004.89 million by 2027, growing at 5.7% CAGR throughout.

From the regional frame of reference, North America held a significant share in the global addiction therapeutics market in 2019. The North America addiction therapeutics market was valued at US$ 3,715.23 million in 2019 and is anticipated to be worth US$ 6,102.31 million by 2027. Meanwhile, the Asia Pacific addiction therapeutics market is estimated to record a stellar growth rate of 6.8% over 2020–2027 to gather US$ 1,781.09 million by 2027.

Leading players influencing global addiction therapeutics market trends are Indivior plc; Pfizer Inc; GlaxoSmithKline plc; Bausch Health Companies Inc.; Cipla Limited; Orexo AB; Purdue Pharma L.P.; Alvogen, Inc; Camurus AB; and Hikma Pharmaceuticals plc.

In October 2020, Purdue Pharma L.P. entered into an agreement with the United States Department of Justice (DOJ) to resolve multi-year civil and criminal investigations into the company’s past marketing practices related to its opioid medicines.
In June 2020, Camurus AB and its US partner Braeburn submitted a request for final approval of Brixadi (buprenorphine) weekly and monthly extended-release injection for the treatment of opioid use disorder to the FDA.
In February 2019, Alvogen Inc. launched its generic equivalent to Suboxone sublingual film (buprenorphine hydrochloride/naloxone hydrochloride) in the US, which will be available in 2 mg/0.5 mg, 4 mg/1 mg, 8 mg/2 mg, and 12 mg/3 mg strengths.

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About US
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defence, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Food and Beverages, Consumers and Goods, Chemicals and Materials.

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