Addiction Treatment Market Brief Overview by Research Cosmos

Addiction Treatment Market Analysis Size, Growth rate and Overview:

Addiction Treatment Market was valued at USD 5.9 billion in 2017 and is expected to reach almost USD xx billion by the end of 2025, growing at a CAGR of around 6.5% over the predicted period.

Addiction can be defined as the fact or condition of being addicted to a particular substance or activity. Addiction treatment is intended to help addicted individuals from compulsively giving into their addictions.  Drug abuse and addiction treatments are provided in many different settings by using a number of behavioural and pharmacological approaches. Favourable reimbursements for smoking cessation therapy, growing abuse of prescription drugs, rise in government initiatives to raise awareness about drug addiction are some factors and the rising abuse of prescription drugs isadding substantially to the growth of this market. In terms of treatment type, the nicotine addiction treatment segment accounts for a major share of the global market and will continue during the forecast period. The higher share of the tobacco addiction treatment segment is attributed to its high adoption and wide availability of various over-the-counter nicotine replacement products that are used to combat tobacco and nicotine addiction.

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Addiction Treatment Market Key Drivers, Challenges, and Opportunities:

The increased use of addictive substances such as alcohol, tobacco, and drugs along with increased marketing initiatives to raise awareness about the detrimental effects of drug addiction is driving the global addiction treatments market. On the other hand, factors such as unwillingness to opt for rehabilitation programs and lack of mental and physical stability of patients during the treatment programs is challenging the growth of this market. 

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Addiction Treatment Market – Regional Presence:

Geographically the market spans across North America, Europe, Asia-Pacific, Latin America and Middle East and Africa. North America and Western Europe account for a dominant share of the addiction treatment market due to introduction of new drugs by key players. Statistically, over 16 million people in the U.S. are living with a diseasethat is caused by smoking. Government initiative to spread awareness about drug addiction in emerging markets such as China and India are likely to boost the addiction treatment market in the whole region of Asia Pacific. The market in this region is expected to expand at a CAGR of around 7.0% from 2017 to 2025.

Some of the Key Players Profiled in this Addiction Treatment Market Report are:

Some of the leading players in the market are Allergan plc, GlaxoSmithKline plc, Purdue Pharma L.P., Mallinckrodt, Hikma Pharmaceuticals PLC, Orexo AB, and Reckitt Benckiser 

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