NEW YORK, Nov. 23, 2022 /PRNewswire/ — The addictions therapeutics market size is estimated to increase by USD 9.86 billion from 2022 to 2027, with an accelerated CAGR of 7.65%, According to the recent market study by Technavio. This report also offers a 5-year historical (2017-2021) data projection of market size, segmentation, and region.
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Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused ; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak. Bargaining Power of Buyers & Suppliers and the Threat of New Entrants, Rivalry, and Substitutes have also been analyzed and rated between LOW-MODERATE to provide a holistic view of market favorability.
Find Technavio’s Exclusive Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria
- One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage.
- Another key aspect is price sensitivity drivers (purchases are undifferentiated, purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
- Furthermore, market adoption rates for all regions have been covered.
The addictions therapeutics market report also offers information on the criticality of inputs, R&D, CAPEX, technology, and products of 15 vendors listed Below –
- Amneal Pharmaceuticals Inc.
- Aphios Corp.
- Braeburn Inc.
- Emergent BioSolutions Inc.
- GlaxoSmithKline Plc
- Glenmark Pharmaceuticals Ltd.
- Hikma Pharmaceuticals Plc
- Indivior Plc
- Johnson and Johnson
- Kaleo Inc.
- Mallinckrodt Plc
- Orexo AB
- Otsuka Holdings Co. Ltd.
- Pfizer Inc.
- Purdue Pharma LP
- Sun Pharmaceutical Industries Ltd.
- Teva Pharmaceutical Industries Ltd.
- Titan Pharmaceuticals Inc.
- Viatris Inc.
Chart & Data Table on 5-Year Historic (2017-2021) Market Size, Comparative Analysis of Segments, and YOY Growth of Addictions Therapeutics Market
- The market is segmented by Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Others) and Type (Alcohol Addiction Therapeutics, Tobacco Addiction Therapeutics, and Drug Addiction Therapeutics).
- By Distribution Channel, the hospital pharmacy segment was the market’s largest segment in 2022.
- The growth of this segment is primarily attributed to a wide range of facilities and advanced infrastructure to cater to the different needs of patients.
- Hospital groups or multi-specialty or super-specialty hospitals play a key role in terms of sales due to the availability of extensive inpatient and outpatient serviceswhich help them generate high revenue.
- Hospital pharmacies are witnessing an increasing demand for addiction therapeutics owing to high discounts, improving reimbursement, and the growing number of drug addicts. These factors will positively impact the growth of the hospital pharmacy segment of the global addiction therapeutics market during the forecast period.
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Despite increasing awareness and stringent regulations, the market has witnessed an increase in the consumption of alcohol, opioids, and tobacco products. Opioids are a type of narcotic pain medication that is available as a therapy for the treatment of moderate-to-severe pain in many developed countries. However, The misuse and abuse of opioids lead to opioid tolerance and addiction. This results in substance use disorder, also known as substance dependency. The prevalence of substance use disorders has increased globally owing to the high consumption of alcohol, tobacco, and opioid products. Hence, the high consumption of these substances increases the prevalence of addiction globally, thereby driving market growth.
Chart & Data Table on Historical Market Size (2017-2021, Historic Industry Size & Analysis of 15 Vendors and 7 Countries
The market is segmented by region (North America, Europe, Asiaand the Rest of World). An analysis of key leading countries has been included.
- North Americawhich holds the major share of the market, is estimated to contribute 45% to the growth of the global market during the forecast period. Growth will be driven by the increasing consumption of alcohol, tobacco, and opioids in the US and canadawhich is the leading cause of addiction in the US. The prevalence is high among adults with mental health issues, disabilities, and substance use disorders.
- In 2020, the COVID-19 pandemic negatively impacted most North American countries, which resulted in the temporary closure of various industries, including those manufacturing addiction therapeutics. The shutdowns adversely affected their production and distribution activities. Also, as online channels were active even during the pandemic, there was an increased demand for However, in 2021, the demand for addiction therapeutics rebounded from offline retail stores, as regional activities resumed due to the COVID-19 vaccination drives and the subsequent lifting of lockdown restrictions.
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What are the key data covered in this addictions therapeutics market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the addiction therapeutics market between 2023 and 2027
- Precise estimation of the size of the addiction therapeutics market size and its contribution to the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the addiction therapeutics market industry across APAC, North America, Europe, Middle East and Africaand South America