Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Addiction treatment is aimed to aid person or individuals to avoid or stop uncontrollable drugs or addictive product consumptions. When an individual is addicted to drugs, they continues consumption of drugs which impact on their health directly. Additionally, it may hamper the diagnosis and treatment of the various medical condition. For opioid addict individual, addiction starts with taking medications from relative & friends who have been taking medications or have exposure with prescribed medications. The risk associated with drugs along with how fast individual get affected is varies from drug to drugs. Various government initiatives and increase in public awareness is also rising across the globe.
The drug addiction treatment market is witnessing lucrative growth during forecast period 2021-2027. The drug addiction is chronic, relapsing disorder which is characterized by obsessive drug seeking, continuos use despite harmful circumstances and long-term changes in brain. It is considered as both brain disorder and mental illness. The major dynamic factors like growing patient awareness is propelling the market growth of drug addiction treatment market. The high treatment seeking rates is also refuelling the market growth of drug addiction treatment market. The rising initiatives by government is also elevating the market growth of drug addiction treatment market. However, patent expiration branded drugs is hampering the market growth of drug addiction treatment market.
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 3600 analysis of micro and macro-economic factors on the drug addiction treatment market. In addition, complete analysis of changes on drug addiction treatment expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on Global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. The drug addiction increases the risk of COVID-19. The tobacco/nicotine, marijuana, heroin or cocaine have shown unhealthier lung conditions like chronic obstructive pulmonary diseases, asthma and chronic lung diseases may rises risk of severe illness from COVID-19. The use of stimulants such as methamphetamine, cocaine rises risk of stroke, heart attack, abnormal heart rhythm, seizures along with other conditions that may lead to more severe lung damage to the patient affected by COVID-19 as because of that drug addiction treatment market is witnessing positive impact on the drug addiction treatment market.
The drug addiction treatment market is bifurcated by drug type, treatment, end user and geography.
Drug type like tobacco/ nicotine and vaping, alcohol, marijuana, synthetic cannabinoids and over the counter medications are comprised in the drug addiction treatment market. In which alcohol is anticipated to dominate the market in 2020. The high rate of consumption of alcohol is propelling the growth of the drug addiction treatment market. The easy availability of alcohol is also refuelling the market growth of drug addiction treatment market. Social acceptance of the alcohol is also elevating the market growth of the drug addiction treatment market. Rising incorporation in different type of gathering and socialization also boosting the market growth of drug addiction treatment market.
Treatments like detoxification, counselling and behavioural therapies, rehabilitation program, self-help groups and medication are comprised in the drug addiction treatment market. In which self-help is estimated to dominate the market in 2020. The rising government policies and awareness programs is propelling the market growth of drug addiction treatment market. The increasing individuals willingness for quit intake of drugs is also refuelling the market growth of drug addiction treatment market. Rise in joining in self-help groups for keeping them motivated is also elevating the market growth of drug addiction treatment market.
End users like hospitals, homecare, speciality clinics and other is comprised in drug addiction treatment market. In which hospitals is expected to dominate the market in 2020. The present scenario of delayed detection of condition because of hesitation on available treatment in patients is propelling the growth of drug addiction treatment market. Need for hospitalization in severe cases is also propelling the market growth of drug addiction treatment market.
Geographically, the study comprised of regions like North America, Europe, Asia Pacific and rest of the world in drug addiction treatment market. In which North America is expected to dominate the market in 2020. The increasing population prone to addictions is propelling the market growth of drug addiction treatment market. The well managed reimbursement policies is also refuelling the market growth of drug addiction treatment market. Effective treatment availability in the region is also elevating the growth of drug addiction treatment market.
The major key players like Hager Biosciences Llc, Addex Therapeutics, Omeros Corporation, Sosei Group Corporation, Cv Sciences Inc, Cerecor Inc, Astraea Therapeutics Llc, Johnson & Johnson Services Inc., Glaxosmithkline Plc, Pfizer Inc, Novartis Ag, Sanofi, Dr. Reddy’S Laboratories Ltd, Teva Pharmaceutical Industries Ltd, Mylan N.V., Axsome Therapeutics Inc, H. Lundbeck A/S, Zydus Cadila and Glenmark Pharmaceuticals Ltd among other are analysed in the market.
November 2018: Sandoz collaborated with pear therapeutic and announced launching of reSET® for treatment of patients with substance use disorder. It is novel and only discovered drug approved by FDA-authorized prescription digital therapeutic for treatment of conditions.
October 2017: Maryland addiction recovery centre of towson and carcon treatment centres announced their new joint venture along the enterprises and takeover of encore recovery solutions which is located in Arlington, Virginia.
June 2017: Pfizer collaborated with Eli Lily and co. for development of non-opioid chronic pain medication called tanezumab. The collaboration won the fast-track approval by Food and Drug administration for treatment of chronic back pain and osteoarthritis.
The study comprised of drug addiction treatment market. In which study analysed the various segments of the market. The drug addiction treatment market is bifurcated by drug type, treatment and end users. The study also comprised of dominating segment of the market. The drug type segment is dominated by alcohol. Likewise, treatment segment is dominated by self-help groups and end user is dominated by hospitals. The study also imparts the geographical section of the market and it concludes that North America is anticipated to dominate the market in 2020. The study comprised of impact of COVID-19 on drug addiction treatment market and it is profounds that drug addiction increases the risk of COVID-19. The tobacco/nicotine, marijuana, heroin or cocaine have shown unhealthier lung conditions like chronic obstructive pulmonary diseases, asthma and chronic lung diseases may rises risk of severe illness from COVID-19. The use of stimulants such as methamphetamine, cocaine rises risk of stroke, heart attack, abnormal heart rhythm, seizures along with other conditions that may lead to more severe lung damage to the patient affected by COVID-19 as because of that drug addiction treatment market is witnessing positive impact on the drug addiction treatment market. The study also imparts major key players operating in the market.
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