Substance abuse therapeutics market to reach $12.7 billion by 2018

Press Release   •   Aug 29, 2012 14:49 BST

The substance abuse therapeutics market was valued in the top seven markets in 2011, at $8.8 billion, increasing at a compound annual growth rate (CAGR) of 4.9% throughout the review period 2004-2011.

The market is projected to witness a moderate CAGR of 5.3% during the next six years to reach $12.7 billion by 2018.

The moderate growth of the market can be attributed to the presence of generics in the market, low compliance with therapy due to the nature of addiction and the lack of innovative products in the pipeline.

However, indications such as cocaine addiction, which currently have no approved products, are expected to see entries to the market and high-priced products such as Champix for smoking cessation will not see patent expiry in the period to 2018.

South East Asia represents a huge potential market for the next 15 years, as a very high smoking prevalence rate is contrasted with the lack of an established market for NRT or anti-smoking products.

This market is as yet largely untapped because of cultural attitudes to smoking and a lack of public health efforts; but, should any companies in the future crack the Asian markets, it will offer a massive opportunity.

Key players within the substance abuse therapeutics market include Pfizer, GSK, Forest Laboratories, Alkermes and Reckitt Benckiser.

For more information on the substance abuse therapeutics market, see the latest research: Substance Abuse Therapeutics Market Report

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