When a person is addicted to a drug and if the person fails to control the urge, they are given addiction control treatment. This condition is concerned with illegal drugs, nicotine, painkillers, and alcohol. Usage of drugs regularly affects the ability of the brain to function, which leads to failure in controlling the urge to take the drug. This change in the functioning of the brain occurs over some time. Along with the brain functionality, drug addiction also affects impairments in health, social function, and voluntary control over substance use. It results in losing control over themselves, which further leads to damaging behaviors. Opioid painkillers have a high risk and can result in swift addiction in comparison to other types of drugs. Addiction to drugs range in duration, severity, and complexity from mild to severe.
COVID-19 scenario analysis:
- Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicines supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs, such as hydroxychloroquine, have witnessed a dramatic surge in demand for the management of COVID-19.
- Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs as many developed countries are short of these drugs. The pharmaceutical and biotechnology industries are expected to witness a significant growth in the future, owing to the demand for vaccine and treatment drugs for COVID-19.
- Attributed to such factors, COVID-19 is expected to have a significant impact on the market.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
Various awareness initiatives are introduced and run by governments and manufacturers; growing abuse of prescription drugs; beneficial reimbursements for smoking termination therapy; various drug store owners also sharing adverse effects of drug abuse, and the importance of addiction treatment are the major factors influencing the addiction treatment market. Additionally, awareness is been spread through television advertisements, newspapers, information brochures, and other media that have proved beneficial for the market growth. However, unwillingness of people in getting access to treatment procedure and the discontinuation of behavioral therapies leading to relapse are the factors that restrain the growth of this market. Improper treatment compliance in some countries also negatively affects the growth of the substance abuse treatment market globally.
New product launches to boost the market
On March 8th, 2016, GlaxoSmithKline and 2morrow Inc. entered into a partnership and developed the SmartQuit app, which supplies patches to smokers having the app plan. On January 4th, 2016, Acadia Healthcare acquired Priory Group, a leading provider of behavioral care services in the UK.
Surge in usage in hospital applications
A significant rise in awareness of the adverse impact of using drugs and associated faster detection of the condition lower the number of individuals with serious conditions requiring hospitalization. Rehabilitation treatment centers are rising and increasing the consumption of addiction treatment plants. The major reason is the identification of the condition in the initial stage, which is expected to increase the demand for elementary line of treatment that are available in residential treatment centers.
Many treatment centers that have agreements with private recovery facilities have entered the market, thus helping in the expansion of treatment access to a higher number of people in the society.
Key benefits of the report:
- This study presents the analytical depiction of the addiction treatment market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the addiction treatment market share.
- The current market is quantitatively analyzed to highlight the addiction treatment market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the addiction treatment market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the addiction treatment market research report:
- Which are the leading market players active in the addiction treatment market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Addiction Treatment Market Report Highlights
By Treatment Type
By Drug Type
By Treatment Center
By Distribution Channel
Key Market Players
Hikma Pharmaceuticals PLC, Alkermes plc, GlaxoSmithKline plc, Orexo AB, Purdue Pharma L.P, Pfizer, Inc., Mallinckrodt, Cipla Ltd., Allergan plc, Reckitt Benckiser