What Is The Current and Historic Market Size Analysis Of The Addictions Therapeutics Market?
The addictions therapeutics market has seen considerable growth due to a variety of factors.
•In recent years, there has been a significant expansion of the addictions therapeutics market. Projected to increase from $7.05 billion in 2024 to $7.48 billion in 2025, this sector is anticipated to exhibit a compound annual growth rate (CAGR) of 6.1%.
Such historical growth can be traced back to an increase in the consumption of addictive substances like alcohol, tobacco, and drugs, a rise in awareness, and a heightened prevalence of substance abuse disorders. Further contributing factors include the legalization of marijuana in several regions and increased funding and advocacy for initiatives focused on addiction treatment.
What Are The Predictions for The Addictions Therapeutics Market Size In The Coming Years?
The addictions therapeutics market is expected to maintain its strong growth trajectory in upcoming years.
• The market for addiction therapeutics is anticipated to register robust growth over the forthcoming years, increasing to $9.62 billion in 2029 with a compound annual growth rate (CAGR) of 6.5%.
This expansion in the forecast period is credited to the rise in drug awareness campaigns, the emergence of synthetic drugs and new psychoactive substances, shifts in lifestyles, and escalating stress levels, the proliferation of rehabilitation centers, and the incorporation of telehealth services into addiction treatment. Notable trends for the forecast period consist of technological progress in diagnostics, advances in neuroscience, strategic partnerships and collaborations among pharmaceutical corporations and other partners to tackle addiction issues, and the introduction of innovative drugs for addiction therapeutics.
What Are The Essential Drivers Behind The Growth Of The Addictions Therapeutics Market?
The rising intake of alcoholic beverages is anticipated to boost the addiction therapeutics market's expansion. The term "alcohol consumption" refers to the ingestion of drinks containing ethyl alcohol. Addiction therapeutics, used for treating alcohol-related addiction, motivates people to reduce their alcohol intake by mitigating the depressive influences of alcohol and maintaining a balance between the excitatory and inhibitory neurotransmitters glutamate and gamma-aminobutyric acid in an individual. This aids in diminishing alcohol cravings and easing symptoms like insomnia, anxiety, and uneasiness during alcohol withdrawal. For example, a report released by Statistics Canada in February 2023 stated that retail and liquor authority sales of alcoholic beverages in Canada came to a total of $26.1 billion in the financial year ending March 31, 2022, which is a 2.4% rise from the preceding year. In the same period, wine sales witnessed a 2.1% growth, climbing to $8.1 billion. In terms of the overall breakdown, beer accounted for 34.9% of the total value of alcohol sales in 2021–2022, followed by wine at 31.3%, spirits at 25.8%, and ciders and coolers at 8.0%. Therefore, the escalating ingestion of alcohol is fuelling the growth of the addiction therapeutics market.
How Is The Global Addictions Therapeutics Market Divided Into Key Segments?
The addictions therapeutics market covered in this report is segmented –
1) By Drug Type: Buprenorphine, Naltrexone, Bupropion, Disulfiram, Nicotine Replacement Products, Varenicline, Other Drugs
2) By Treatment Type: Opioid Addiction Treatment, Alcohol Addiction Treatment, Nicotine Addiction Treatment, Other Substance Addiction Treatment
3) By Treatment Center: Inpatient Treatment Center, Residential Treatment Center, Outpatient Treatment Center
4) By Distribution Channel: Hospital Pharmacies, Medical Stores, Other Distribution Channel
5) By Application: Public, Private, Government
Subsegments:
1) By Buprenorphine: Subutex, Suboxone
2) By Naltrexone: Oral Naltrexone, Extended-Release Naltrexone (Vivitrol)
3) By Bupropion: Wellbutrin, Zyban
4) By Disulfiram: Antabuse
5) By Nicotine Replacement Products: Nicotine Patches, Nicotine Gum, Nicotine Inhalers, Nicotine Lozenges
6) By Varenicline: Chantix (Champix)
7) By Other Drugs: Acamprosate, Topiramate, Gabapentin
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What Trends Are Reshaping The Future Of The Addictions Therapeutics Market?
Substantial corporations in the addiction therapeutics market are innovating by producing products like medications for cocaine use disorders (CUD) in an effort to reach a wider consumer base, increase sales, and income. Medications for cocaine use disorders (CUD) are designed specifically to assist users grappling with cocaine addiction or reliance. For example, Tempero Bio, a U.S. biotech firm, declared in January 2023 that the U.S. Food and Drug Administration (FDA) had approved TMP-301. The unique feature of the TMP-301, the company's experimental product, is its function as a negative allosteric modulator (NAM) for the metabotropic glutamate receptor 5 (mGluR5). TMP-301, designed to play a key role in the treatment of cocaine use disorders (CUD), stands out because of its potency, selectiveness, and oral availability, each designed to effectively regulate the excessive glutamate signaling associated with CUD.
Who Are the Key Players in the Addictions Therapeutics Market?
Major companies operating in the addictions therapeutics market include:
• Pfizer Inc.
• Novartis AG
• Teva Pharmaceutical Industries Ltd.
• Mylan N.V.
• Bausch Health Companies Inc.
• Sun Pharmaceutical Industries Limited
• Perrigo Company plc
• Purdue Pharma L.P.
• Dr. Reddy's Laboratories Ltd.
• Cipla Inc.
• Hikma Pharmaceuticals plc
• Amneal Pharmaceuticals Inc.
• Mallinckrodt Plc
• Alkermes plc.
• Glenmark Pharmaceuticals Limited
• Indivior plc.
• Lannett Company Inc.
• BioDelivery Sciences International Inc.
• Insys Therapeutics Inc.
• Camurus AB
• Orexo AB
• Elite Pharmaceuticals Inc.
• Braeburn Inc.
• Titan Pharmaceuticals Inc.
• BioCorRx Inc.
What are the Regional Insights into the Addictions Therapeutics Market?
North America was the largest region in the addictions therapeutics market in 2024. The regions covered in the addictions therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
