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Albany, New York, Oct. 01, 2019 (GLOBE NEWSWIRE) -- According to a recent report by Transparency Market research, the global Addiction Treatment Market is likely to surge at a steady CAGR of 6.0% within the forecast period from 2017 to 2026. In 2016, the addiction treatment market was valued around US$ 4.0 Bn. This is likely to reach nearly US$ 7.0 Bn by the end of forecast period. The report proposes that developing maltreatment of doctor prescribed medications and ideal repayments for smoking end treatment are probably going to prod interest for addiction treatment market soon.
Rising Deaths Due to Addiction to Stir Market Demand for its Treatment
Addiction is an increasing concern all over the globe. As indicated by the National Survey on Drug Use and Health (NSDUH) in 2015, around 15.1 million people turned 18 and above, who were diagnosed with alcohol consumption issues, which included about 9.8 million men. Around 1.3 million individuals got treated in 2015, for AUD at specialized center. Over 16 million individuals in the U.S. are suffering from a sicknesses brought about by smoking. As indicated by CDC study, tobacco use causes almost 6 mn deaths every year. Current patterns demonstrate that tobacco consumption is probably going to cause over 8 million fatalities yearly by 2030.
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Addiction treatment manufacturers and buyers of treatment items are concentrating on bringing issues to light among individuals and medication storekeepers about ill-effects of medication misuse and significance of addiction treatment to build the client pool. Additionally, organizations are offering making of ID of potential liquor abusers and utilization of drugs misuse testing to legal implementation offices. Awareness by radio, papers, TV commercials, leaflets have demonstrated to be powerful in taking care of addiction treatment.
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Tobacco Treatment Segment to Lead Due to Increasing Consumption of Tobacco in Different Forms
The global addiction treatment market is classified based on distribution channel, treatment type, geography, treatment centered, and drug type. As far as treatment type is concerned, the tobacco/nicotine addiction treatment segment is anticipated to rule the global market and is relied upon to proceed sustain its lead i9n the future years as well, trailed by the segment of narcotic addiction treatment. Growth in sale of nicotine gum in growing nations is probably going to push the segment demand. Nicotine gum is rapidly acting, moderately affordable, and can be taken anytime. These aspects are estimated to fuel the segment growth.
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North America to Lead Due to Rising Number of Active and Passive Smokers
On the basis of geography, North America, in 2016 represented a leading share of the entire addiction treatment market. This is because of surge in the quantity of smokers in the U.S. has increased concerns with respect health issues for the passive smokers as well as active smokers. Asia Pacific market is anticipated to gain impetus in the span of forthcoming years. This is estimated to to produce significant income in the coming years. Activities by regional governments to accomplish independence in production of pharmaceuticals and other incentives regarding the making of generics in the nations, for example, South Africa, Saudi Arabia, and Brazil are going to support the Middle East and Africa and Latin America market.
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Major organizations working in the global addiction treatment market incorporate Allergan plc, Cipla Ltd., Alkermes plc, Orexo AB, Pfizer Inc., Purdue Pharma L.P, GlaxoSmithKiline plc, Mallinckrodt, and Reckitt Benckiser.
The review is based on TMR’s report titled “Addiction Treatment Market (Treatment Type - Alcohol Addiction Treatment, Tobacco/Nicotine Addiction Treatment, Opioid Addiction Treatment, Other Substance Addiction Treatment; Drug Type - Bupropion, Varenicline, Acamprosate, Disulfiram, Naltrexone, Methadone, Buprenorphine, Nicotine Replacement Products; Treatment Center - Outpatient Treatment Center, Residential Treatment Center, Inpatient Treatment Center; Distribution Channel - Hospital Pharmacies, Medical Stores) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025.”
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