The Global Alcohol addiction drugs market size stood at USD 0.83 billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.
Alcohol consumption has been a common practice in many countries across the world. Easy availability, less government restriction and authorized manufacturing have however led to an increase in alcohol addiction. According to World Health Organization, more than 3 million deaths are recorded due to over consumption of alcohol every year. Alcohol addiction is also increasing steadily among women and teenagers because of the changing lifestyle and low regulation on sale of alcohol to minors. Various research studies have found that more than 50 disorders are linked to alcohol over consumption. Some of these include cancer, liver cirrhosis, dementia, depression, and immune suppression. Liver damage and immune suppression remain the most common health hazards of alcohol addiction.
Research activities aiming to control alcohol addiction have shown promising results in the recent past. Pharmaceutical companies have launched drugs to control alcohol craving, thus reducing alcohol consumption
Market for alcohol de-addiction however will be restricted due to weak research pipeline. Without consistent research, no new products will be added to the market leading to senescence. Alcohol de-addiction has a large conventional market in the form of various unani medicine and control techniques. Low resistance to overcome addiction is the root cause of alcohol addiction worldwide, this leads to inconsistency in treatment. Reduced awareness of the available drug therapy for alcohol de-addiction, especially in developing and underdeveloped countries is also a main cause of restricted market growth. Availability of cost-effective substitutes such as psychotherapy, counselling and traditional cold turkey de-addiction methods also affect the marked growth. In India, alcohol addicts mostly prefer cultural de-addiction methods such as Ayurveda and homeopathy. Thus, availability of various substitutes for alcohol de-addiction is also a major cause restraining the market growth