- The global alcohol-dependency treatment market is expected to grow at a substantial CAGR in the forecast period of 2019-2026.
- Low healthcare budget in some developing countries is hampering the market growth.
- High demand of disease specific novel treatment can also act as a market driver.
Alcohol-dependency is also known as alcohol use disorder, which is chronic consumption of alcoholic beverages at a level that interferes with physical or mental health. It can lead to health and social problem and causes negative emotions, impulsive behavior, craving and withdrawal syndrome.
According to the source from the Our World in Data, it is estimated that globally, around 185,000 people died directly from alcohol use disorders in 2017. Improvement in treatment rates and healthcare infrastructure are also expected to propel the growth of the market.
The global alcohol-dependency treatment market is expected to grow at a substantial CAGR in the forecast period of 2019-2026. Increases in strategic alliances between the pharmaceuticals companies and untapped emerging economies are the key factors fueling market growth.
A few of the major competitors currently working in the global alcohol-dependency treatment market are Alkermes, Teva Pharmaceutical Industries Ltd, Zydus Cadila, Mylan N.V, Glenmark Pharmaceuticals Ltd, Curemark LLC, Chronos Therapeutics Ltd, BioCorRx Inc, Bionex Pharmaceuticals LLC, Cerecor Inc , Opiant Pharmaceuticals, Omeros Corporation, MONTISERA LTD, Kinnov Therapeutics, Indivior PLC, Bristol-Myers Squibb Company, Otsuka Holdings Co. Ltd, H. Lundbeck A/S and others.
- High prevalence of alcohol abuse disorder worldwide and vulnerable adult population is propelling the growth of this market
- Change in life style and non-stringent regulation on sale of alcohol to the minors
- New innovation and emerging new markets is boosting the market growth
- High demand of disease specific novel treatment can also act as a market driver
- The competitive scenario of market and strategic collaborations may boost the market position
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- Limited operating revenue opportunities for research and development of targeted therapies by many pharmaceuticals is acting as a challenging factor for the growth of this market
- Low healthcare budget in some developing countries is hampering the market growth
Key Developments in the Market
In January 2019, H. Lundbeck A/S received an approval from the Japan’s Ministry of Health, Labor and Welfare (MHLW) for Selincro (nalmefene hydrochloride) for treatment to reduce alcohol consumption in alcohol-dependent patients. The approval of Selincro represents significantly improve the lives of millions of patients suffering from alcohol addiction throughout the Japan.
In July 2017, Opiant Pharmaceuticals reported topline result of phase I trial of OPNT002 which is a tranasally dosed (IN) formulation of the opioid antagonist naltrexone hydrochloride is developing for the treatment of Alcohol Use Disorder (AUD). The trial demonstrated increased the rate of absorption of intranasal naltrexone with no serious adverse event.
The global alcohol-dependency treatment market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares global alcohol-dependency treatment market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.