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The Global Addiction Therapeutics Market size is estimated to grow at a CAGR of 7.65% between 2022 and 2027. The addiction therapeutics market size is forecast to increase by USD 9.86 billion. The growth of the market depends on several factors, including the high consumption of alcohol, tobacco, and opioid products, the approval of new drugs and the launch of digital therapeutics to treat addiction, and the initiatives to increase awareness about and combat addiction.
This addiction therapeutics market research report extensively covers market segmentation by distribution channel (hospital pharmacy, retail pharmacy, and others), type (alcohol addiction therapeutics, tobacco addiction therapeutics, and drug addiction therapeutics), and geography (North America, Europe, Asia, and the Rest of World (ROW)). It also includes an in-depth analysis of drivers, trends, and challenges.
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Our researchers studied the data for years, with 2022 as the base year, and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a decrease in demand for the market during the COVID-19 pandemic, a holistic analysis of drivers will help companies refine marketing strategies to gain a competitive advantage.
One of the key factors driving growth in the addiction therapeutics market is the high consumption of alcohol, tobacco, and opioid products. The high consumption of alcohol, tobacco, and opioids globally drives the growth of the global addiction therapeutics market. Despite increasing awareness about and stringent regulations on the consumption of these products, the market has witnessed an increase in the consumption of alcohol, opioids, and tobacco products. Opioids are a type of narcotic pain medication that is available as a therapy for the treatment of moderate-to-severe pain in many developed countries.
However, the misuse and abuse of opioids lead to opioid tolerance and addiction. The high consumption of alcohol, tobacco, and opioid products on a daily basis can lead to a strong desire or sense of compulsion to consume the substance. This results in complications in controlling substance use behavior in terms of its onset, termination, and levels of use, which leads to substance use disorder, also known as substance dependency. Owing to the high consumption of these substances, the prevalence of substance use disorders has increased globally. Hence, the high consumption of these substances increases the prevalence of addiction globally, thereby driving the market growth.
The increasing R&D of novel drugs is another factor supporting the addiction therapeutics market share growth in coming years. Due to the increasing consumption of alcohol, tobacco, and opioid products, the demand for novel therapeutics to treat substance use disorders has increased. Therefore, several vendors are focusing on the development of novel therapeutics to treat substance use disorders.
Opiant Pharmaceuticals is developing OPNT002, nasal naltrexone, which produces rapid and strong increases in the plasma level and blocks the opioid receptor. As per the studies, OPNT002 offers some significant advantages over current treatment options by addressing the challenges faced by alcohol use disorder patients.
Adial Pharmaceutical is developing AD04 (ondansetron), a genetically targeted therapeutic agent for alcohol use disorder. AD04 can be used to treat other addictive disorders, such as opioid use disorder, obesity, and smoking MediciNova is developing MN-166 (ibudilast) to treat methamphetamine addiction. The company has completed a Phase II study of MN-166 for methamphetamine dependence. Amygdala Neurosciences is also developing ANS-6637, an oral aldehyde dehydrogenase 2 inhibitor. The drug modifies dopaminergic tone in the brain by preventing abnormal dopamine surges that drive craving without changing basal dopamine levels.
The strong R&D and pipeline of addiction therapeutics are expected to drive the growth of the global addiction therapeutics market during the forecast period.
The presence of generics will be a major challenge for the addiction therapeutics market during the forecast period. The presence of generic drugs impacts the market, as the price of generic drugs is almost half the price of branded drugs. With an increase in the number of ANDA approvals, more generic drug manufacturers have entered the market, which is intensifying the competition in the market. The competition among generic drug makers is based on the low prices of generic drugs. The entry of generic drugs into the market leads to price wars that reduce drug prices. This impacts the overall market growth, as a reduction in drug prices leads to less revenue generation in the market.
The global addiction therapeutics market has the presence of branded and generic drug manufacturers. Owing to the loss of patents, many generic drug manufacturers, such as Cipla, Mylan, Teva Pharmaceutical, and InnoPharma Inc., have received generic drug approvals from the US FDA to market generic drugs such as acamprosate calcium. Since several generic manufacturers have entered the market, generic drugs have become more affordable than branded drugs. Thus, patent expiry and the growing penetration of generic drugs may impede the growth of the global addiction therapeutics market during the forecast period.
Our market reports analyze the life cycle of the global addictions therapeutics market from the innovator’s stage to the laggard’s stage. The report illustrates the lifecycle of the market, focusing on the adoption rates of the major regions such as the US, Canada, Germany, the UK, and France. Our researchers have included key purchase criteria, adoption rates, adoption lifecycles, and drivers of price sensitivity to help companies evaluate and develop growth strategies for 2022-2027.
Global Addictions Therapeutics Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Alkermes Public. - Alkermes Public Ltd. Co. is a public company headquartered in Ireland. It is a global company generating USD 1,173.75 million in revenues and has around 2,211 employees. Its revenue from the market contributes to its overall revenues along with its other offerings, but it is not a key revenue stream for the company. The company is focused on developing innovative medicines that aim to address the unmet needs of people living with serious mental illness, addiction, and cancer. In April, the company announced the agreement with Sarissa Capital Management LP, a beneficial owner of approximately 5% of the company's outstanding ordinary shares.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market vendors, such as
Our analysts have conducted an internal and external analysis of vendors to help companies understand the wider business environment as well as the strength and weaknesses of key market players. If a vendor is focused only on the market then it is classified as a pure-play vendor. On the other hand, a vendor with interests in multiple industries is classified as a diversified vendor. The external analysis is a qualitative assessment of the ability of a vendor to impact the market through its actions. Dominant vendors can impact the market significantly, while a weak vendor has no ability to influence the market dynamics.
The addiction therapeutics market share growth by the hospital pharmacy segment will be significant during the forecast period. Hospital pharmacy is an important distribution channel for the global addiction therapeutics market. The hospital pharmacy segment accounts for a significant share of the market, owing to a wider range of facilities and advanced infrastructure to cater to the different needs of patients. Hospital groups or multi-speciality or super-speciality hospitals play an important role in terms of sales in this market. These hospitals are benefitted due to the availability of extensive inpatient and outpatient services, which help them generate high revenue. Owing to the good discounts, improving reimbursement, and the growing number of drug addicts, hospital pharmacies experience increasing demand for addiction therapeutics. These factors will positively impact the growth of the hospital pharmacy segment of the global addiction therapeutics market during the forecast period.
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The hospital pharmacy segment shows a gradual increase in the demands for construction and other factors. In 2017 the market size was USD 8.54 billion and slightly increased by the end of 2021. Owing to the good discounts, improving reimbursement, and the growing number of drug addicts, hospital pharmacies experience increasing demand for addiction therapeutics. These factors will positively impact the growth of the hospital pharmacy segment of the global addiction therapeutics market during the forecast period.
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North America is projected to contribute 45% by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
North America was the most significant contributing region in the market, primarily owing to the increasing consumption of alcohol, tobacco, and opioids in the US and Canada. The consumption of alcohol, tobacco, and opioids is the leading cause of addiction in the US. The prevalence remains high among adults with mental health, disability, and substance use disorders.
This market report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. In 2020, the COVID-19 pandemic negatively impacted most North American countries, which resulted in the temporary closure of various industries, including those manufacturing addiction therapeutics. The shutdowns adversely impacted their production and distribution activities. Also, as online channels were active even during the pandemic, there was an increased demand for addiction therapeutics. However, in 2021, the demand for addiction therapeutics rebounded from offline retail stores as regional activities resumed due to the COVID-19 vaccination drives and the subsequent lifting of lockdown restrictions.
Our addiction therapeutics market research report forecasts revenue growth at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. We have segmented the market based on type, product, distribution channel, and region.
Addictions Therapeutics Market Scope |
|
Report Coverage |
Details |
Page number |
165 |
Base year |
2022 |
Historical year |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.65% |
Market growth 2023-2027 |
USD 9.86 billion |
Market structure |
Fragmented |
YoY growth (%) |
6.56% |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 45% |
Key consumer countries |
US, Canada, Germany, UK, and France |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
Alkermes Public Ltd. Co., Amneal Pharmaceuticals Inc., Aphios Corp., Braeburn Inc., Emergent BioSolutions Inc., GlaxoSmithKline Plc, Glenmark Pharmaceuticals Ltd., Hikma Pharmaceuticals Plc, Indivior Plc, Johnson and Johnson, Kaleo Inc., Mallinckrodt Plc, Orexo AB, Otsuka Holdings Co. Ltd., Pfizer Inc., Purdue Pharma LP, Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd., Titan Pharmaceuticals Inc., and Viatris Inc. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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