Drug Abuse can be defined as habitually, dependence of an individual on any drugs, which turns into an addiction. Alcohol, tobacco, cigarettes, heroin, and marijuana are some of the common, drugs which has been misused leading to drugs addictions. In recent past, many products have been launched in market for treatment and management of drug abuse. Some commonly used drug for treatment of drugs abuse are Disulfiram, Acamprosate, Naltrexone, Nicotine Replacement Treatment, Methadone, and Buprenorphine.
Launch and approval of novel drugs is projected to fuel market growth over the forecast period
In 2017, Indivior PLC received the U.S. Food and Drug Administration (FDA) approval for SUBLOCADE (buprenorphine extended- release) injection for subcutaneous use, which is indicated for treatment of moderate to severe opioid use disorder. Furthermore, in 2016, Teva Pharmaceutical Industries Ltd. launched a generic version of CAMPRAL1 (acamprosate calcium) delayed-release tablets, 333 mg in the U.S. market, which is indicated for the treatment and maintenance of abstinence from alcohol in patients with alcohol dependence. Moreover, in April 2018, Dr. Reddy’s Laboratories received the U.S. Food and Drug Administration (FDA) approval to launch generic version of Suboxone sublingual film for all dosage forms 2 mg/0.5 mg, 4 mg/1 mg, 8 mg/2 mg, and 12 mg/3 mg indicated for the treatment of drug addiction. Suboxone is a combination of Buprenorphine and Naloxone.
In 2014, British American Tobacco plc. received approval from the UK Medicines and Healthcare products regulatory agency for new products nicotine inhaler. This new inhaler will help to quit smoking habits of addicted smokers, this new inhaler contains the same propellant found in an asthma inhaler and gives an immediate hit of nicotine through a breath-operated valve. In 2015 company launched nicotine inhaler in the UK. Frequent launches of such novel drugs in market are expected to fuel the global drug abuse treatment market growth.
The global drug abuse treatment market size was valued at US$ 13.4 Bn in 2017, and is expected to witness a CAGR of 7.8% over the forecast period (2018 – 2026).
Get The Holistic SAMPLE With Research Methodology:
According to the data published by Centers of Disease Control and Prevention (CDC) in 2016, more than 15 of every 100 adults or 15.5% of adults aged 18 years or older smoked cigarettes in the U.S. according to the same source, an estimated 37.8 million adults in the U.S. currently smoke cigarettes and more than 16 million people in U.S. are suffering with a smoking-related disease. According to the World Health Organization (WHO), in 2015, round 1,100 million smokers were recorded worldwide, which includes around one-third of the global population aged 15 years. Such increasing prevalence of drug abuse in key regions is expected to propel demand for its treatment drugs and drive global drug abuse treatment market growth.
Key players in the substance abuse treatment market are focused on receiving approval of its new drugs from major regulatory bodies. For instance, BioCorRx Inc. established a research and development initiative to seek approval of its naltrexone implant from the U.S. Food and Drug Administration (FDA) in 2016. Naltrexone implant works by releasing medicine in body for several months and reduces the cravings for alcohol and opioids. Furthermore, the initiatives taken by various organizations to help people in preventing substance abuse and launches of new drug abuse rehab are expected to support the global drug abuse treatment market growth. For instance, in 2017, Cardinal Health, Inc launched an Opioid Action Program to support the prevention of drug abuse in Appalachia.
Key players operating in the drug abuse treatment market include Cipla Limited, Glenmark Pharmaceuticals, Pfizer Inc., Mylan N.V., Odyssey Pharmaceuticals Inc., Lil’ Drug Store Products Inc., Indivior Plc., Dr. Reddy’s Laboratories, Teva Pharmaceutical Industries Ltd., and British American Tobacco Plc.
Click To Continue Reading On Drug Abuse Treatment Market
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
Coherent Market Insights
1001 4th Ave,
Seattle, WA 98154