New York, Feb. 20, 2020 (GLOBE NEWSWIRE) -- The global drug addiction treatment market is forecast to reach USD 31.17 Billion by 2027, according to a new report by Reports and Data. Drug addiction can be defined as the condition that affects the behavior and brain of an individual. When an individual is addicted to a drug, he/she fails in controlling the urge to use it, in spite of knowing the harm related to the use of those drugs. The condition is not just about cocaine, heroin, or the use of other illegal drugs. Addiction to nicotine, opioid painkillers, alcohol, and other legal substances may also result in the condition. Continuous exposure to these drugs results in effecting the ability of the functioning of their brain, which leads to their lack of failure in controlling their urge to take the drug. The mentioned change in the functioning of the brain occurs over a period of time. It may result in losing self-control among individuals and lead to damaging behaviors. The extent to which an individual becomes addicted or how quick an individual gets addicted is dependent on the type of drug being consumed.
Request free sample of this research report at: https://www.reportsanddata.com/sample-enquiry-form/2484
Drugs like opioid painkillers have a higher risk and result in quick addiction as compared to the other types of drugs. The term drug addiction is often interchangeably used with drug abuse. Drug abuse is when an individual uses illegal or legal substances in ways in ways he/she shouldn’t. On the other hand, addiction is when an individual fails in stopping the consumption of these drugs. Thus, various supporting factors like the government initiatives and rise in awareness about drug addiction and technological developments in the diagnostic industry are boosting the growth of the market. In context to region, Europe can be seen to occupy a significant portion of the market. The market share held by the region is attributed to the continuously expanding healthcare market, increasing investments in the healthcare sector, and elevating focus on R&D activities, which are supporting the growth of the market in this region.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/drug-addiction-treatment-market
Further key findings from the report suggest
- The Drug Addiction Treatment market held a market share of USD 16.47 Billion in the year 2018 that is forecasted to grow at a rate of 7.0% during the forecast period.
- In context to Drug Type, the Marijuana segment is projected to witness the fastest growth rate of 7.8% during the forecast period, which is expected to hold, 14.9% of the market by 2027. The growth rate witnessed by the Marijuana segment is attributed to the legalization of the use of this drug for medical purposes in various nations across the globe, which is resulting in increasing exposure and use of this drug, which is contributing to the growth rate witnessed by this segment. As an instance, as of January 2019, the use of tis drug for medical purposes has been legalized in 33 states in the U.S.
- In context to Treatment, the Detoxification segment held the largest market share of 49.0% in 2018, with a growth rate of 6.4% during the forecast period. The fact that in the treatment of drug addiction, detoxification is the first line of treatment, contributes to the market share held by this segment. Furthermore, in this treatment, the main focus is on clearing the drug from the patient’s body and limit withdrawal reactions, which can be addressed with this treatment that also contributes to the market share held by this segment.
- In regards to End-user, the Residential treatment centers (non-hospital) segment is projected to witness the fastest CAGR of 7.4% during the forecast period, which is expected to occupy 31.0% of the market by 2027. The rising awareness about the adverse impact of consuming drugs and associated faster detection of the condition results in lowing the number of individuals with serious conditions requiring hospitalization, which contributes to the growth rate witnessed by this segment. The underlying reason being, identification of the condition in the initial stage results in increasing demand for elementary line of treatment that are available in residential treatment centers.
- In regards to the region, Asia Pacific is projected to witness the fastest growth rate of 8.2% during the forecast, which is expected to hold 0% of the market by 2027. The growth rate witnessed by the region is resultant of the expansion of the health care sector and rising incidence rate of alcohol & tobacco addiction, which is supporting the market growth in this region.
- Key participants include Pfizer, Indivior, Novartis, Alkermes, Cipla, Mylan, Dr. Reddy's Laboratorie, Glenmark, PLIVA (Odyssey), and Teva Pharmaceutical.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/drug-addiction-treatment-market
For the purpose of this report, Reports and Data have segmented the global Drug Addiction Treatment market, according to Drug Type, Treatment, End-user, and Region:
Drug Type Outlook (Revenue, USD Billion; 2016-2027)
- Tobacco/Nicotine and Vaping
- Alcohol
- Marijuana
- Synthetic Cannabinoids
- Prescription and Over-the-Counter Medications
- Others
Treatment Outlook (Revenue, USD Billion; 2016-2027)
- Detoxification
- Counseling and behavioral therapies
- Rehabilitation programs
- Self-help groups
End-user Outlook (Revenue, USD Billion; 2016-2027)
- Hospital and Clinics
- Residential treatment centers (non-hospital)
- Others
Order Now: https://www.reportsanddata.com/checkout-form/2484
Regional Outlook (Revenue, USD Billion; 2016-2027)
- North America
- U.S
- Europe
- U.K
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
Browse more similar reports on Healthcare IT category by Reports And Data
Healthcare Cybersecurity Market - https://www.reportsanddata.com/report-detail/healthcare-cybersecurity-market
Ambulatory Care Service Market - https://www.reportsanddata.com/report-detail/basalt-fiber-market
Brain-Computer Interface Market - https://www.reportsanddata.com/report-detail/brain-computer-interface-market
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.