Global Alcohol Addiction Therapeutics Market By Product Type (5-HT3 Receptor Antagonist, Antidotes, Others), By End User (Hospital Pharmacies, Retail Pharmacies, Rehabilitation Centers), and Region - Global Forecast to 2029

“Global Alcohol Addiction Therapeutics Market” is a published report at MarketResearch.biz. The global alcohol addiction therapeutics market is expected to be valued at over US$ 0.8 Bn in 2020 and is projected to witness CAGR of 6% over the forecast period. The global alcohol addiction therapeutics market report has been segmented on the basis of product type, end-user, and region.

Overview

The purpose of alcohol addiction therapeutics is to treat psychological and cognitive aspects of alcohol addiction. Alcohol addiction therapeutics offer several treatments such as meditation, medical, homeopathic, and rehabilitation. Selection of alcohol addiction therapy for a particular patient depend upon the condition and issues of the patient. High blood pressure due to consuming alcohol may lead to damaging heart muscle, brain damage, stroke, and liver disease. Many pharmaceutical companies have launched different drugs to control alcohol consumption, which inhibits the enzyme acetaldehyde dehydrogenase causing unpleasant reaction post alcohol consumption. There are different therapies to treat people with alcohol addiction. Individuals are also provided with free addiction treatment programs and treatment facilities. These free treatment programs are especially for patients who cannot afford the treatment for their addition to get over it. Government funded rehabilitation centers provide various services such as free detox, outpatient services, and other rehabilitation services.

Dynamics

Growing consumer awareness about disadvantages of addiction of drinking alcohol such as high blood pressure and inflammation of the liver can damage the heart muscle and causes the development of several cancers including mouth, colon, breast, and liver is expected to enhance demand for alcohol addiction therapeutics in the global alcohol addiction therapeutics market during the forecast period. Other factors, in some countries, that are expected to drive the market growth are growing number initiatives by governments such as imposing an age limit to consume alcohol, import duties, and high pricing for limiting alcohol consumption among individuals. In addition, an increasing number of initiatives by public organizations and governments to provide affordable or free treatment in rehabilitation centers is expected to increase demand for alcohol addiction therapeutics over the forecast period in the global alcohol addiction therapeutics market to an extent. Growing number of deaths due to addiction to alcohol and overconsumption coupled with increasing awareness about after-effects of alcohol addiction is projected to increase demand for alcohol addiction therapeutics over the forecast period.

Less restriction from government, easy availability of alcohol, and authorized manufacturing are projected to increase alcohol addiction of individuals and this is expected to be a reason to hamper growth in demand for alcohol addiction therapeutics in the global alcohol addiction therapeutics market over the forecast period. Owing to changing lifestyle, low regulation on the sale of alcohol to minors, and increasing disposable income, alcohol addiction is rising among teenagers and women. This is expected to be a restraint in hampering growth of the global alcohol addiction therapeutics market during the forecast period. Another restraint to driving demand for alcohol addiction therapeutics is the presence of uncertified medical centers in large numbers.

Factors expected to bring new opportunities for manufacturers in the global alcohol addiction therapeutics market are different drug addiction therapeutics and promotion of alcohol programs initiated by several countries and approaches developed for reversing behaviors. Key players in the global alcohol addiction therapeutics market are focusing on mergers & acquisitions, new product development, joint ventures, and regional expansion to create revenue growth opportunities and strengthen the market presence.

Global Alcohol Addiction Therapeutics Market Segment Analysis:

By Product Type: Among the product type segments, the others segment is projected to account for majority revenue share, and register a CAGR of 5.8% over the forecast period.

By End-user: Among the end-user segments, the hospital pharmacies segment is projected to account for major revenue share. The retail pharmacies segment is expected to register a CAGR of 5.9% over the forecast period.

Global Alcohol Addiction Therapeutics Market Regional Analysis:

North America market is estimated to contribute highest revenue share in the global alcohol addiction therapeutics market. The Asia Pacific market is projected to register highest growth rate of over 6.1% over the next 10 years.

Key Developments by Companies

Cipla Limited (Year-2018)

Contracts/Agreements; In May, the company entered into an agreement with MannKind, for marketing and distribution of product Afrezza in India.

Acquisitions/Mergers/Takeovers; In July, the company acquired Mirren, a drug developer for US$33.5 million.

Regulatory Approval; In August, the US FDA approved Cipla's Atazanavir capsules (Generic Reyataz) 100mg, 150mg, 200mg, 300mg.

Contracts/Agreements; In August, Cipla entered into a partnership with MSN Laboratories to market and distribute Capecitabine tablets 150mg and 500mg in the US.

Regulatory Approval; In August, the US FDA approved Cipla's Diclofenac sodium topical gel, 1%.

Regulatory Approval; In June, the US FDA approved Cipla's Testosterone cypionate injection 100mg/ml and 200mg/ml.

Regulatory Approval; In June, the US FDA approved Cipla's Efavirenz Tablets 600mg.

Regulatory Approval; In June, the US FDA approved Isoproterenol hydrochloride injection USP, 0.2mg/mL, single-use sterile ampoule.

Contracts/Agreements; In June, Cipla entered into a partnership with, Eli Lilly and Company (India) Pvt Ltd to market and distribute Lilly’s BASAGLAR (insulin glargine injection) in India.

Regulatory Approval; In May, the US FDA approved Phenylephrine Hydrochloride injection USP, 50 mg/5 mL (10 mg/mL) and 100 mg/10 mL (10 mg/mL) pharmacy bulk package, Phenylephrine Hydrochloride injection USP, 10 mg/mL single dose vial and Exemestane tablets, 25mg.

Contracts/Agreements; In February, Cipla entered in to an agreement with Roche Pharma India to promote and distribute Roche’s tocilizumab (Actemra) and Syndyma in India.

Regulatory Approval; In January, the US FDA approved Cipla's Tenofovir Disoproxil Fumarate Tablets, 300mg.

Global Alcohol Addiction Therapeutics Market Segmentation:

By Product Type:

• 5-HT3 Receptor Antagonist
• Antidotes
• Others

By End-user:

• Hospital Pharmacies
• Retail Pharmacies
• Rehabilitation Centers
• Other Distribution Channels

By Region:

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

• Cipla Limited
• GlaxoSmithKline plc
• Henry Schein, Inc.
• Merck & Co., Inc.
• Sun Pharmaceutical Industries Ltd
• Mallinckrodt Pharmaceuticals
• Teva Pharmaceutical Industries Ltd
• Mylan (Apicore US LLC)
• Noramco GmbH
• Kinnov-Therapeutics
• Chronos Therapeutics Limited
• Bionex Pharmaceuticals LLC
• Curemark LLC