DRUG ABUSE TREATMENT MARKET ANALYSIS

Market Challenges And Opportunities

Global Drug Abuse Treatment Market- Drivers

• Novel drug development: The development of novel drug treatments is playing a vital role in driving the growth of the global drug abuse treatment market. Pharmaceutical companies are actively researching and developing advanced medications that can more effectively treat substance abuse disorders and help patients in greater number to recover. Some of the novel drugs in pipeline aim to minimize withdrawal symptoms, reduce drug cravings, block drug rewarding effects and modify brain circuits involved in addiction.
• Government initiatives and funding: Government initiatives and funding are playing a key role in driving the growth of the global drug abuse treatment market. Many countries are allocating higher budgets to support innovative treatment methods and make them more accessible. For instance, in January 2021, the Ministry of Health of Jordan had received donation of nicotine replacement therapy from Johnson & Johnson Consumer Health through its partnership with the Access Initiative for Quitting Tobacco (AIQT).
• Need to curtail healthcare costs: Substance abuse and illicit drug trafficking has become a major public health issue globally in recent years. According to the United Nations Office on Drugs and Crime (UNODC) World Drug Report 2022, about 275 Million people worldwide used drugs in 2020 with 36 Million people suffering from drug use disorders. The increasing prevalence of drug use disorders signifies a growing patient population seeking treatment options.

Global Drug Abuse Treatment Market- Opportunities

• Focus on newer therapies like cannabidiol and psychedelic drugs: Cannabidiol, which is derived from cannabis plants has shown early promise for treating substance abuse disorders and managing withdrawal symptoms from drugs like opioids, cocaine and alcohol. Studies by World Health Organization (WHO) and National Institute of Health (NIH) have found Cannabidiol (CBD) effective in reducing cravings and relapse rates when used in conjunction with other therapies. The non-intoxicating nature of CBD makes it more acceptable to patients and doctors than conventional medical cannabis treatment. With overdose deaths reaching catastrophic levels, CBD offers a relatively safe approach and presents the possibility of an affordable therapy. As more clinical trials report success, CBD is likely to gain mainstream acceptance and drive significant gains for drug abuse treatment programs focused on this approach.
• Strategic collaboration between market players: Strategic collaboration between various market players in the global drug abuse treatment sector could unlock new opportunities for innovation and growth. As the drug abuse problem has become a massive challenge globally with wide-ranging social and economic consequences, no single organization or entity can effectively tackle it alone. Coordinated efforts are required that bring together the capabilities and expertise of different stakeholders. For instance, in December 2022, ADDEX THERAPEUTICS a pharmaceutical company collaborated with Indivior PLC a pharmaceutical company for the discovery of novel oral gamma-aminobutyric acid subtype B (GABAB) positive allosteric modulator (PAM) drug candidates for the treatment of substance use disorder.

Global Drug Abuse Treatment Market- Restraints

• Social stigma associated with drug abuse: Social stigma associated with drug abuse is indeed a major challenge restraining the growth of global drug abuse treatment market. There exists a strong social stigma where drug abuse is seen as a sign of weakness, lack of morality or willpower by society. People struggling with drug abuse often face discrimination, social exclusion and isolation from friends and family due to the negative perceptions. This social stigma prevents many from voluntarily seeking help and treatment due to fear of being publicly shamed or branded. As a result, many suffer silently without receiving the medical help and support required to overcome drug addiction.
• Lack of medical reimbursement policies: Lack of proper medical reimbursement policies is one of the major factors restraining the growth of global drug abuse treatment market. Drug abuse disorder is a relapsing medical condition that requires long term and continuous clinical treatment and patient monitoring. However, in many countries, there are limited public or private medical insurance plans that provide adequate coverage for extensive drug abuse rehabilitation and counseling programs. This creates significant financial burden on the patients and their families who have to bear high out-of-pocket expenses to avail proper clinical treatment. As a result, many people struggling with substance abuse problems are not able to seek timely professional help due to the lack of financial support through medical reimbursements.