Report : South and Central America Addictions Therapeutics Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Treatment Type (Nicotine Addiction Treatment, Alcohol Addiction Treatment, Opioid Addiction Treatment, Other Substance Addiction Treatment); Drug Type (Varenicline, Bupropion, Nicotine Replacement Products, Buprenorphine, Naltrexone, Disulfiram, Others); Treatment Center (Outpatient Treatment Center, Residential Treatment Center, Inpatient Treatment Center); Distribution Channel (Hospitals, Medical Stores, Others) and Country
Nicotine addiction treatment segment by type is estimated to lead the market growth during the forecast period
According to a new market research study of “South and Central America Addictions Therapeutics Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Treatment Type, Drug Type, Treatment Centre, and Distribution Channel,” The South and Central America Addictions Therapeutics market is expected to reach US$ 482.04 million in 2027 from US$ 332.54 million in 2019. The market is estimated to grow with a CAGR of 4.9% from 2020 to 2027. The report highlights trends prevailing in the South and Central America Addictions Therapeutics market and the factors driving market along with those that act as hindrances.
Based on treatment type, the South and Central America addictions therapeutics market is segmented into nicotine addiction treatment, alcohol addiction treatment, opioid addiction treatment, and other substance addiction treatment. 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. According to the report on Drug Use in the Americas 2015, by Inter-American Drug Abuse Control Commission (CICAD), the per capita consumption is estimated to be 30% higher than the global average in Latin America. The Addiction Centre report 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 South and Central America 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 growth of the market is attributed to rising approval of new drugs and launch of digital therapeutics to treat addiction, conduction of various awareness campaigns and government efforts to counteract drug abuse and promote medication. However, high costs associated with drug development is hindering the growth of the addiction therapeutics market.
Indivior PLC, Pfizer Inc.and GlaxoSmithKline plc are among the leading companies operating in the South and Central America addictions therapeutics market.
The report segments in South and Central America Addictions Therapeutics market as follows:
By Treatment Type
- Opioid Addiction Treatment
- Alcohol Addiction Treatment
- Nicotine Addiction Treatment
- Other Substance Addiction Treatment
- Nicotine Replacement Products
- Inpatient Treatment Center
- Residential Treatment Center
- Outpatient Treatment Center
- Hospital Pharmacies
- Medical stores
Contact Person: Sameer Joshi
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- ?Rest of South and Central America