europe addictions therapeutics Market

The Europe addictions therapeutics market is expected to reach US$ 2,147.19 million by 2027 from US$ 1,410.85 million in 2019. The market is estimated to grow with a CAGR of 5.5% from 2020 to 2027.

The growth of the market is attributed to the rising approval of new drugs and launch of digital therapeutics to treat addiction, and increasing conduction of various awareness campaigns and government efforts to counteract drug abuse and promote medication. However, the high cost associated with drug development hinders the growth of the Europe addiction therapeutics market.

Drug addiction, also referred to as substance disorder, is a type of disease that hampers an individual’s brain, behavior, and metabolic processes leading to an inability to control. Nonmedical use and abuse of prescription drugs are becoming severe issues worldwide. Addiction to abusive substances is responsible for the death of millions of people across the world. The Addiction Centre report estimated that over 11% of France's population consumed cannabis at some point, and 41,000 people died due to alcohol-related causes between 2015 and 2017. The reports also stated that the number of people undertaking treatments for these addictions has increased in the recent years. Thus, the rising awareness among people about drug addiction treatment is likely to support the growth of the Europe addiction therapeutics market in the coming years. Similarly, awareness campaigns and government efforts to counteract drug abuse and promote medication for all sorts of addiction treatments would fuel the market growth during the forecast period.

The COVID-19 pandemic is hindering the Europe addictions therapeutics market. Due to the outbreak of disease, healthcare industries have been affected severely, considering the economic conditions in the current situation. Moreover, the traditional difficulties regarding treatment access and adherence for the population suffering from addictions will worsen during the pandemic, therefore aggravating their condition.

Based on treatment type, the Europe addictions therapeutics market is segmented into nicotine addiction treatment, alcohol addiction treatment, opioid addiction treatment, and other substance addiction treatment. The nicotine addiction treatment segment held the largest share of the market in 2019 and is estimated to register the highest CAGR in the market during the forecast period.

Based on treatment type, the Europe addictions therapeutics market is segmented into nicotine addiction treatment, alcohol addiction treatment, opioid addiction treatment, and other substance addiction treatment. The nicotine addiction treatment segment held the largest share of the market in 2019 and is estimated to register the highest CAGR in the market during the forecast period.

The Europe addictions therapeutics market, by drug type, is segmented into varenicline, bupropion, nicotine replacement products, buprenorphine, naltrexone, disulfiram, and others. The varenicline segment held the largest market share in 2019. However, the nicotine replacement products segment is anticipated to register the highest CAGR in the market during the forecast period.

Based on treatment center, the Europe addictions therapeutics market is segmented into outpatient treatment center, residential treatment center, and inpatient treatment center. In 2019, the outpatient treatment center segment held the largest share of the market and is estimated to register the highest CAGR in the market during the forecast period.

By distribution channel, the Europe addictions therapeutics market is segmented into hospital pharmacies, medical stores, and others. The hospital pharmacies segment held the largest share of the market in 2019. However, the medical stores segment is estimated to register the highest CAGR in the market during the forecast period.

A few of the major primary and secondary sources referred to while preparing this report on the Europe addictions therapeutics market are European Federation of Pharmaceutical Industries and Associations (EFPIA); Centers for Disease Control and Prevention (CDC); French National Institute for Prevention and Health Education (INPES); and European Monitoring Centre for Drugs and Drug Addiction (EMCDDA); among others.