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South and Central America Addictions Therapeutics Market Report 2020-2027: Rising Demand for R&D from Contract Organizations - Leading Players are Indivior, Pfizer and GlaxoSmithKline - ResearchAndMarkets.com

April 19, 2021 GMT

DUBLIN--(BUSINESS WIRE)--Apr 19, 2021--

The “South and Central America Addictions Therapeutics Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Treatment Type; Drug Type; Treatment Center; Distribution Channel and Country” report has been added to ResearchAndMarkets.com’s offering.

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Nicotine addiction treatment segment by type is estimated to lead the market

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

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.

Key Market Dynamics

Market Drivers

  • Rising Addiction Among General Populace
  • Conduction of Awareness Campaigns

Market Restraint

  • Steeping Costs of Drug Development

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Market Opportunity

  • Rising Demand for R&D from Contract Organizations

Future Trend

  • Consistent Launch of Therapeutics

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

By Drug Type

  • Buprenorphine
  • Naltrexone
  • Bupropion
  • Disulfiram
  • Nicotine Replacement Products
  • Varenicline
  • Others

By Treatment Center

  • Inpatient Treatment Center
  • Residential Treatment Center
  • Outpatient Treatment Center

By Distribution Channel

  • Hospital Pharmacies
  • Medical stores
  • Others

By Country

  • Brazil
  • Argentina
  • Rest of South and Central America

For more information about this report visit https://www.researchandmarkets.com/r/588lot.

View source version on businesswire.com:https://www.businesswire.com/news/home/20210419005660/en/

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KEYWORD: SOUTH AMERICA CENTRAL AMERICA

INDUSTRY KEYWORD: MENTAL HEALTH HEALTH OTHER HEALTH MANAGED CARE GENERAL HEALTH PHARMACEUTICAL

SOURCE: Research and Markets

Copyright Business Wire 2021.

PUB: 04/19/2021 11:43 AM/DISC: 04/19/2021 11:43 AM

http://www.businesswire.com/news/home/20210419005660/en