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Top Market Shifts Transforming the Addictions Therapeutics Market Landscape: Key Insights
Addictions Therapeutics
What Is the Expected CAGR for the Addictions Therapeutics Market Through 2025?
The market for addiction treatments has been expanding significantly in the past years. It is projected to increase in value from $7.05 billion in 2024 to $7.48 billion in 2025, with a compound annual growth rate (CAGR) of 6.1%. The growth during the historic period is linked to the heightened usage of addictive substances like alcohol, tobacco, and drugs, a growing awareness and surge in instances of substance abuse disorders, the legalization of marijuana in several states, and amplified funding and backing for treatments of addiction.
What's the Projected Size of the Global Addictions Therapeutics Market by 2029?
Predictions indicate significant growth in the addictions therapeutics market size within the coming years, with a projected value of $9.62 billion in 2029 and a compound annual growth rate (CAGR) of 6.5%. Factors facilitating this growth during the forecasted period include increased awareness about drugs, the advent of synthetic drugs and novel psychoactive substances, evolving lifestyles and stress factors, expansion of rehabilitation facilities and the incorporation of telehealth services into addiction treatment. The forecast period will also witness trends such as diagnostic technological advancements, progresses in neuroscience, formation of partnerships and collaborations between pharmaceutical companies and other relevant parties to tackle addiction issues, and the introduction of innovative drugs within the field of addiction therapeutics.
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Top Growth Drivers in the Addictions Therapeutics Industry: What's Accelerating the Market?
The growth of the addiction therapeutics market is anticipated to be driven by the escalating consumption of alcohol. This refers to the intake of drinks that contain ethyl alcohol. Therapies to address alcohol addiction aim to reduce alcohol consumption by impeding its depressive effects and fostering a balance between the excitatory neurotransmitter glutamate and the inhibitory neurotransmitter gamma-aminobutyric acid. This helps to decrease the craving for alcohol and ease symptoms such as insomnia, anxiety, and restlessness associated with alcohol withdrawal. For instance, in a report issued by Statistics Canada in February 2023, alcohol beverage sales in retail outlets and liquor authorities amounted to $26.1 billion for the fiscal year ending in March 2022, indicating a 2.4% increase from the prior year. Wine sales also rose, by 2.1%, to reach $8.1 billion over the same period. Beer accounted for 34.9% of total alcohol sales value in 2021-2022, followed by wine at 31.3%, spirits at 25.8%, and ciders and coolers at 8.0%. Hence, the surge in alcohol intake is catalysing the growth of the addiction therapeutics market.
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What Trends Will Shape the Addictions Therapeutics Market Through 2029 and Beyond?
Leading businesses in the addiction therapeutics market are focusing on creating innovative offerings such as medications for use disorders (CUD) with the aim of reaching a wider consumer demographic, boosting sales, and enhancing revenue. These medications are specifically designed to assist individuals dealing with addiction or dependency. For example, in January 2023, the US-based biopharmaceutical firm, Tempero Bio, revealed the receipt of approval from the U.S. Food and Drug Administration (FDA) for TMP-301. This investigational candidate by the company, TMP-301, is uniquely characterized by its role as a negative allosteric modulator (NAM) of the metabotropic glutamate receptor 5 (mGluR5). TMP-301, custom-designed for a key role in combatting use disorders (CUD), is recognized for its effectiveness, selectivity, and oral availability, all targeted at efficiently managing the hyperactive glutamate signaling associated with CUD.
What Are the Main Segments in the Addictions Therapeutics Market?
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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Which Top Companies are Driving Growth 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.
Which Regions Will Dominate the Addictions Therapeutics Market Through 2029?
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.
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