Addictions Therapeutics Market Size, Growth and Forecast 2031
The Addictions Therapeutics Market size was estimated to be US$ 7.43 billion in 2021 and US$ XX million in 2023 and is expected to reach US$ 14.49 million by 2031; it is estimated to record a CAGR of 7.3% till 2031. Consistent launch of various therapeutics are likely to remain key Addictions Therapeutics Market trends.
Addictions Therapeutics Market Analysis
The leaders, governing powers, and Non-governmental organization (NGOs) are looking for new ways to create awareness and fight the epidemic of growing substance addiction. For instance, the Council on Chemical Abuse participates in various state and national campaigns to raise awareness regarding substance misuse, recovery, and prevention.
The United Nations Office of Drugs and Crime (UNODC) lead a worldwide campaign that creates awareness about the major challenge caused by the illicit drugs on society and the young population. The UNODC undertakes various awareness-raising activities worldwide and invites individuals, private sector, non-profit organizations, and member states to organize institutional outreach programs against illicit trafficking and drug abuse.
Further, in August 2023, a campaign was launched in India to discourage vaping among adolescents. The campaign aimed to recommend effective solutions and sought the help of experts to create impactful communication highlighting the adverse effects of vaping. Additionally, the campaign aimed to raise awareness about the ban on vaping in India and other countries, explaining the reasons behind such measures.
Similar awareness campaigns and government efforts to counteract drug abuse and promote medication to get rid of all sorts of addictions is likely to fuel the market growth during the forecast period.
Addictions Therapeutics Market Overview
Global addictions therapeutics market is segmented by region into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. The North American region holds the largest market share of the market, whereas the Asia Pacific region is the fastest-growing region. The growth of market in North America is majorly due to entry of new market players, various product launches and rising number of people having one or more addiction of substances. Moreover, Asia Pacific is the fastest growing market for addiction therapeutics in a global scenario. China, India and Japan are three major contributors to the growth of the market, which is driven by high amount of narcotic consumption, bulk development of generic drugs for addiction treatment as well as emergence of local players in the region. Additionally, research & development (R&D) investments by multinational pharmaceutical companies also fuel the growth of the market.
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Addictions Therapeutics Market: Strategic Insights
Market Size Value in US$ 6,691.01 Million in 2019 Market Size Value by US$ 10,735.94 Million by 2027 Growth rate CAGR of 6.2% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Addictions Therapeutics Market: Strategic Insights
| Market Size Value in | US$ 6,691.01 Million in 2019 |
| Market Size Value by | US$ 10,735.94 Million by 2027 |
| Growth rate | CAGR of 6.2% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Addictions Therapeutics Market Drivers and Opportunities
Growing Partnerships Between Organizations to Favor Market
There are several organizations in the addictions therapeutics market partnering that are boosting the growth of the market. For instance, in September of 2023, Click Therapeutics collaborated with Indivior. The collaboration aims to develop and commercialize prescription digital therapeutics to treat substance use disorders, starting with Opioid Use Disorder (OUD). The collaboration will be facilitated through a mobile application called CT-102, which aims to address the major gaps in OUD, such as access to high-quality, personalized psychosocial treatment.
Similarly, in January of 2023, Pear Therapeutics expanded its partnership with outpatient addiction treatment clinics. Spero Health can now use Pear's reSET and reSET-O prescription digital therapeutics in 99 locations across five states, after previously using them in just 14 clinics in Kentucky. Thus, growing partnerships between organizations driving the growth of addictions therapeutics market.
Rising Demand for R&D from Contract Organizations – An Opportunity
In the last few years, the pharmaceutical industry has witnessed a rapid growth in outsourcing services; driven by many factors, such as the growth of demand for pain medications, increase in API complexities, and growing need to reduce development costs. Large pharmaceutical companies are outsourcing R&D activities to increase the speed of the drug development process, along with reducing their development and manufacturing costs.
Various pharmaceutical firms, including the one that manufactures addiction therapeutics, rely on contract research organizations (CROs) to minimize the high fixed costs of in-house development, manufacturing capabilities, and expertise. Increasing complexity in the development of new molecular entities (NMEs) has created a need for niche capabilities that pharmaceutical companies prefer outsourcing instead of in-house. With the increasing drug approvals (the FDA approved 55 NMEs in 2023); there is a rise in robust clinical development and demand for outsourcing. Various biotechnology companies are taking advantage of CROs to expand their potential drug candidate’s pipeline. The reduction in costs of drug manufacturing through outsourcing is likely to offer significant growth opportunities to market players in order to maximize the profit margins and sustain in the dynamic addiction therapeutics market.
Addictions Therapeutics Market Report Segmentation Analysis
Key segments that contributed to the derivation of the addictions therapeutics market analysis are treatment type, drug type, treatment center, and distribution channel.
- Based on treatment type, the addictions therapeutics market is segmented into nicotine addiction treatment, alcohol addiction treatment, opioid addiction treatment, other substance addiction treatment. The nicotine addiction treatment segment held a largest market share in 2023.
- By drug type, the market is segmented into varenicline, bupropion, nicotine replacement products, buprenorphine, naltrexone, disulfiram, others. The varenicline segment held the largest share of the market in 2023.
- In terms of treatment center, the market is segmented into outpatient treatment center, residential treatment center, inpatient treatment center. The outpatient treatment center segment dominated the market in 2023.
Addictions Therapeutics Market Share Analysis by Geography
The geographic scope of the addictions therapeutics market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
North America is the largest market for addiction therapeutics, with the US holding the largest market share, followed by Canada. The growth in North America is characterized by entry of new market player, various product launches and rising number of people having one or more addiction of substances. Market players in the US raising funds for addiction treatment. For instance, in July 2023, Affect Therapeutics, a company that is revolutionizing addiction treatment using digital technology, announced that it has raised US$16 million in a Series A funding round led by ARTIS Ventures, a TechBio-focused investment firm. The funds raised will be used to expand the company's programs to a national level, as well as to improve the Affect app through engineering innovation.
Addictions Therapeutics Market Report Scope
Addictions Therapeutics Market News and Recent Developments
The addictions therapeutics market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for addictions therapeutics:
- In January 2023, Hikma Pharmaceuticals PLC launched Naloxone Hydrochloride Injection, USP, 2mg/2mL, in prefilled syringe (PFS) form. This drug is used for emergency treatment of a known or suspected opioid overdose and is the third PFS product launched. The injection is currently available in the US. (Source: Hikma Pharmaceuticals PLC, 2023)
- In January 2022, Pfizer partnered with Swedish start-up Alex Therapeutics to venture into the digital therapeutics space. Alex Therapeutics' AI-based platform integrates both cognitive behavioral therapy (CBT) and Acceptance and Commitment Therapy (ACT) with AI to personalize care. The initial focus of their partnership is to create digital therapeutics for nicotine addiction treatment and will begin their efforts in the German market. (Source: Pfizer, 2022)
Addictions Therapeutics Market Report Coverage and Deliverables
The “Addictions Therapeutics Market Size and Forecast (2022–2030)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Treatment Type ; Drug Type ; Treatment Center ; Distribution Channel and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, RoAPAC, RoEU, RoMEA, RoSCAM, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
- Indivior PLC
- Pfizer, Inc.
- GlaxoSmithKline Plc
- Bausch Health Companies
- Cipla, Inc.
- Orexo AB
- Purdue Pharma L.P.
- Alvogen
- Camurus AB
- Hikma Pharmaceuticals Plc
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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