Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
While the world is currently at war with COVID-19 pandemic, addiction is another major hazard to the public health which affecting most of the population globally. Drug abuse, tobacco, alcohol and drug addiction are increasing at the significant rates specially in developed nations. The rising number of pass away due to tobacco addiction is gaining the market attention of North America drug addiction treatment market. As per the National Institute of Drug Abuse, nearly 54% of the addicts are minors in the United States. These conditions is setting an alarm to government authorities for rising awareness regarding drug addiction treatment.
The North America drug addiction treatment market is witnessing lucrative growth during forecast period 2021-2027. The rising focus on awareness program is gaining the market growth of North America drug addiction treatment market. The major factors like adoption of unhealthy lifestyles which causing rise in substance addiction is propelling the market growth of North America drug addiction treatment market. Availability of the treatments is also refuelling the market growth of North America drug addiction treatment market. New product launch is also boosting the market growth of North America drug addiction treatment market. However, patent expiration of branded drugs is hampering the market growth of North America drug addiction treatment market.
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 3600 analysis of micro and macro-economic factors on the drug addiction treatment market. In addition, complete analysis of changes on drug addiction treatment expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on North America economies, international trade, business investments, GDP and marketing strategies of key players present in the market. The drug addiction increases the risk of COVID-19. The tobacco/nicotine, marijuana, heroin or cocaine have shown unhealthier lung conditions like chronic obstructive pulmonary diseases, asthma and chronic lung diseases may rises risk of severe illness from COVID-19. The use of stimulants such as methamphetamine, cocaine rises risk of stroke, heart attack, abnormal heart rhythm, seizures along with other conditions that may lead to more severe lung damage to the patient affected by COVID-19 as because of that drug addiction treatment market is witnessing positive impact on the drug addiction treatment market.
The North America drug addiction treatment market is segmented by drug type, treatment, end user and country.
The drug types like tobacco/ nicotine and vaping, alcohol, marijuana, synthetic cannabinoids and over the counter medications are comprised in the North America drug addiction treatment market. In which tobacco/ nicotine and vaping is also contributing in the market growth of North America drug addiction treatment market. The tobacco is one of the most abused substance in the world. Tobacco contain nicotine which is main chemical in tobacco. It causes a rush of adrenaline when absorbed in the bloodstream or inhaled by smoking by cigarette. Nicotine initiates increase in dopamine. It is referred as brains happy chemicals.
The North America drug addiction treatment market is comprised of treatment like detoxification, counselling and behavioural therapies, rehabilitation program, self-help groups and medications. In which detoxification is also contributing in the market growth of North America drug addiction treatment market. The detoxification is a process were the traces of alcohol and drugs are completely removed from the body, along with person is physically stable and ready to start treatment again. The alcohol and drugs addiction leads to habit formation to people’s bodies. It is also known as treatment option for acute and chronic drug use.
The North America drug addiction treatment market is comprised of end users like hospitals, homecare, speciality clinics and other. In which speciality clinics are also contributing in the market growth of North America drug addiction treatment market. The speciality clinics is where the experienced specialist of diseases are works in collaboration for providing point of care for the patients. They works with common medical facilities and healthcare staff like pharmacists, nurse and ward boys. The rising population prone to different addiction is also propelling the growth of the segment.
The North America drug addiction treatment market is studied for countries like US, Mexico and Canada. In which U.S. is anticipated to dominate the market in 2020. The well-established healthcare facilities for the drug abuse management is propelling the market growth. The well managed reimbursement programs is also refuelling the market growth. The increased in population addicted to tobacco is also elevating the market growth. Rising awareness programs by government is also boosting the market growth.
The major key players like Hager Biosciences Llc, Addex Therapeutics, Omeros Corporation, Sosei Group Corporation, Cv Sciences Inc, Cerecor Inc, Astraea Therapeutics Llc, Johnson & Johnson Services Inc., Glaxosmithkline Plc, Pfizer Inc, Novartis Ag, Sanofi, Dr. Reddy’S Laboratories Ltd, Teva Pharmaceutical Industries Ltd, Mylan N.V., Axsome Therapeutics Inc, H. Lundbeck A/S, Zydus Cadila and Glenmark Pharmaceuticals Ltd among other are analysed in the market.
November 2018: Sandoz collaborated with pear therapeutic and announced launching of reSET® for treatment of patients with substance use disorder. It is novel and only discovered drug approved by FDA-authorized prescription digital therapeutic for treatment of conditions.
October 2017: Maryland addiction recovery centre of towson and carcon treatment centres declared their new collaboration along the enterprises and takeover of encore recovery solutions which is located in Arlington, Virginia.
June 2017: Pfizer collaborated with Eli Lily and co. for elaboration of non-opioid chronic pain medication named as tanezumab. The joint venture won the fast-track approval by Food and Drug administration for treatment of chronic back pain and osteoarthritis.
The study comprised of drug addiction treatment market. In which study analysed the various segments of the market. The drug addiction treatment market is bifurcated by drug type, treatment and end users. The study also comprised of dominating segment of the market. The drug type segment is dominated by alcohol. Likewise, treatment segment is dominated by self-help groups and end user is dominated by hospitals. The study also imparts the geographical section of the market and it concludes that United States is anticipated to dominate the market in 2020. The study comprised of impact of COVID-19 on drug addiction treatment market and it is profounds that drug addiction increases the risk of COVID-19. The tobacco/nicotine, marijuana, heroin or cocaine have shown unhealthier lung conditions like chronic obstructive pulmonary diseases, asthma and chronic lung diseases may rises risk of severe illness from COVID-19. The use of stimulants such as methamphetamine, cocaine rises risk of stroke, heart attack, abnormal heart rhythm, seizures along with other conditions that may lead to more severe lung damage to the patient affected by COVID-19 as because of that drug addiction treatment market is witnessing positive impact on the drug addiction treatment market. The study also imparts major key players operating in the market.
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