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
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.
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
- Rising Addiction Among General Populace
- Conduction of Awareness Campaigns
- Steeping Costs of Drug Development
- Rising Demand for R&D from Contract Organizations
- 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
- Nicotine Replacement Products
By Treatment Center
- Inpatient Treatment Center
- Residential Treatment Center
- Outpatient Treatment Center
By Distribution Channel
- Hospital Pharmacies
- Medical stores
- Rest of South and Central America
For more information about this report visit https://www.researchandmarkets.com/r/588lot.
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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
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PUB: 04/19/2021 11:43 AM/DISC: 04/19/2021 11:43 AM