The global Addiction Treatment Market is prognosticated to gain impetus due to increasing number of government initiatives taken to reduce drug addiction in both the young and elderly. Increasing investments for raising awareness about drug addiction has had a positive impact on the global addiction treatment market. On the other hand, increasing abuse of prescription drugs and promising reimbursement scenarios created for smoking cessation therapies could further push the growth of the global addiction treatment market. By 2030, over eight million deaths are expected to take place annually because of tobacco use, according to CDC.
Transparency Market Research (TMR) anticipates the global addiction treatment market to post a 6.0% CAGR during the forecast period 2017-2025 to attain a valuation of US$7.0 bn by the end of 2025. In 2016, the global addiction treatment market was worth a US$4.0 bn.
Rising efforts taken to improve awareness about drug abuse treatment products among both drug store managers and people are forecast to set the tone for significant growth of the global addiction treatment market. Increasing significance of drug abuse treatment could improve the demand in the global addiction treatment market. Law enforcement agencies are receiving training from various organizations on how to perform drug abuse tests and identify potential drug abusers. The need to stop drug abuse crisis is increasing awareness about addiction treatment via newspapers, information brochures, television advertisements, and other media.
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There are different types of drugs available in the global addiction treatment market, viz. nicotine replacement, buprenorphine, methadone, naltrexone, disulfiram, acamprosate, varenicline, and bupropion. Among these, nicotine replacement drugs could secure a larger share of the global addiction treatment market. Even in 2016, nicotine replacement drugs showed dominance over the global addiction treatment market. Addiction treatment is available in various types of treatment centers such as inpatient, residential, and outpatient. However, outpatient treatment centers are projected to witness a rise in demand for addiction treatment because of the advantage it provides to those under personal or work obligations.
Developed regions such as North America are envisaged to secure a colossal share of the global addiction treatment market. In 2016, the region took command of the global addiction treatment market by earning a massive amount of revenue. The U.S. witnessing an increase in the number of active and passive smokers and rising health concerns is predicted to significantly augment the demand in the North America addiction treatment market. Asia Pacific could also be a leading region of the global addiction treatment market, taking into account the benefit of government incentives for producing generics and achieving self-sufficiency in the manufacture of pharmaceuticals.
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