Residential treatment for drug abuse offers inpatient rehabilitation for those who have become addicted to cocaine or other hard drugs.
Market Dynamics
Increasing consumption of tobacco is expected to propel growth of the global drug abuse treatment market. For instance, according to the World Health Organization, 1.337 billion people smoked tobacco worldwide in 2018. Moreover, misuse of pain relievers is also expected to aid in growth of the market. For instance, according to the 2018 National Survey on Drug Use and Health, in the U.S., 3.6% of the population misused pain relievers in 2018.
Increasing investment in R&D for assessing the effects of alcohol is expected to offer lucrative growth opportunities for players in the global drug abuse treatment market. For instance, The University of Illinois at Chicago, U.S., received US$ 8.2 million from the National Institute on Alcohol Abuse and Alcoholism to continue the Center for Alcohol Research in Epigenetics and its research on how alcohol affects genes through epigenetics.
Among regions, Asia Pacific is expected to witness significant growth in the drug abuse treatment market, owing to high cases of cannabis-related deaths in the region. For instance, according to a study conducted by researchers at the National Drug and Alcohol Research Center, Australia recorded 559 cases of cannabis-related deaths between 2000 and 2018.
North America is also expected to witness significant growth in the drug abuse treatment market, owing to high number of substance users in the region. For instance, according to the 2018 National Survey on Drug Use and Health, in the U.S., around 164.8 million people aged 12 or older in the U.S. were past month substance users that included tobacco, alcohol, or illicit drugs.
Competitive Analysis
Major players operating in the global drug abuse treatment market include, Cipla Limited, Glenmark Pharmaceuticals, Pfizer Inc., Mylan N.V., Odyssey Pharmaceuticals Inc., Lil' Drug Store Products Inc., Indivior Plc., Dr. Reddy's Laboratories, Braeburn Inc., Teva Pharmaceutical Industries Ltd., and British American Tobacco Plc.
June 2020: Braeburn Inc., a biopharmaceutical company dedicated to delivering solutions for people living with the serious, often fatal consequences of opioid use disorder, requested final approval from the U.S. Food and Drug Administration of the New Drug Application for BRIXADI (buprenorphine) weekly and monthly extended-release injection for the treatment of opioid use disorder.