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 “Europe Addictions Therapeutics Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Treatment Type, Drug Type, Treatment Centre, and Distribution Channel,” The Europe Addictions Therapeutics market is expected to reach US$ 2,147.19 million in 2027 from US$ 1,410.85 million in 2019. The market is estimated to grow with a CAGR of 5.5% from 2020 to 2027. The report highlights trends prevailing in the Europe Addictions Therapeutics market and the factors driving market along with those that act as hindrances.

Based on treatment type, the Europe 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. The Addiction Centre report estimated that over 11% of France's population consumed cannabis at some point, and 41,000 people died due to alcohol-related causes between 2015 and 2017. The reports 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 Europe 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 Europe addictions therapeutics market.

The report segments in Europe 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

• China
• UK
• Germany
• France
• Italy
• Spain
• Rest of Europe