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Varenicline Segment to be Largest Contributor to Addictions Therapeutics Market during 2020–2027
According to our latest study on “Addictions Therapeutics Market Forecast to 2027 – COVID-19 Impact and Analysis – by Treatment Type, Drug Type, Treatment Center, and Distribution Channel,” the market was valued at US$ 6,691.01 million in 2019 and is projected to reach US$ 10,735.94 million by 2027; it is expected to grow at a CAGR of 6.2% from 2020 to 2027. The report highlights trends prevailing in the global addictions therapeutics market, and the drivers and restraints pertaining to the market growth.
Addiction is a psychological and physical inability to stop consuming drugs, alcohol, opioids, and related category substances, even though the consumption of those substances causes various mental and physical harms. Addiction can be life-threatening if not stopped. Therefore, there are several options such as drug therapy and rehabilitation that can stop addiction in a better way.
In Europe, economies are adversely affected due to the increase in the number of COVID-19 cases. Spain, Italy, Germany, France, and the UK are among the most affected European countries. The addictions therapeutics market has witnessed reduced sales of nicotine replacement therapy products owing to their negative effect on COVID-19 treatment. In April, France banned the online sell of nicotine replacement therapy products and limited their sales in pharmacies, after researchers suggested that it might play a role in protecting against coronavirus.
Based on drug type, the global addictions therapeutics market is segmented into varenicline, bupropion, nicotine replacement products, buprenorphine, naltrexone, disulfiram, and others. The varenicline segment held the largest market share in 2019. The nicotine replacement products segment is anticipated to register the highest CAGR during the forecast period owing to the increasing consumption of nicotine among people and availability of a wide range of nicotine replacement therapy products.
Cipla Ltd, Indivior Plc, Pfizer Inc, Orexo Ab, Glaxosmithkline Plc, Purdue Pharma L.P, Alvogen, Bausch Health, Camurus Ab, and Hikma Pharmaceuticals Plc are among the companies operating in the global Addictions Therapeutics market.
The report segments global addictions therapeutics market as follows:
By Treatment Type
By Drug Type
By Treatment Center
By Distribution Channel