Canada Addiction Therapeutics Market Analysis

Canada Addiction Therapeutics Market Analysis Executive Summary

Canada addiction therapeutics market was valued at $808 Mn in 2022 and is estimated to reach $1378 Mn in 2030, exhibiting a CAGR of 6.9% during the forecast period.

Addiction therapeutics alludes to the different scope of procedures, mediations, and strategies used to address and combat addiction. It explicitly focuses on treating individuals with addiction and co-occurring problems by lessening or halting medication and liquor use. Withdrawal symptoms, including restlessness, anxiety, and sleeplessness, are lessened as a result of its ability to balance excitatory and inhibitory synapses like glutamate and gamma-aminobutyric acid. Two commonly prescribed medications used in the ongoing treatment of opioid use disorder addiction are methadone and buprenorphine. Other medications that are approved for the treatment of substance use disorders include naltrexone, acamprosate, and disulfiram; however, these may not be initiated until after detox.

In Canada, 2% of those over the age of 15 use cocaine at least once. Notably, cocaine use increased significantly in the 20–24 age bracket, from 3.3% in 2013 to 9.0% in 2019, a three-fold increase. In 2019–2020, about 7% of postsecondary students between the ages of 17 and 25 were taking cocaine. On the other hand, the lowest rate of cocaine use (0.2%) was seen in elderly people 65 years of age and older. The rise in cocaine-related deaths in Canada can be attributed to the growing availability of cocaine in the illegal drug supply chain as well as polysubstance usage, such as mixing cocaine with painkillers. Furthermore, cocaine ranks second in Canada's drug-related expenses after alcohol, making a substantial contribution to the costs associated with the criminal justice system.

Industry players: significant advances in the treatment of drug addiction are expected to accelerate the growth of the market. In June 2021, Indivior and Aelis Farma requested a major cease-and-desist agreement to restrict the serious consequences of cocaine use disorders (CUD), including pot-prompted psychosis. In addition, as part of the 360° of smoking cessation and World No Tobacco Day, JB Synthetics and Drugs Ltd. (JBCPL) launched NOSMOK's professionally prescribed sedative nicotine capsules to help reduce cravings for tobacco use.

Market Dynamics

Market Growth Drivers

Increasing Awareness about Substance Abuse: Chronic drug use therapy suppliers and makers frequently emphasize bringing issues to light among general society and pharmacy proprietors about the serious outcomes of illicit drug use and the meaning of misuse therapy to support their client base. Somewhat, the substance dependence pestilence has been forestalled by bringing issues to light through media like papers, data manuals, and TV plugs.

Establishing Partnerships Between Organizations: Several companies are involved in several initiatives that foster the market's expansion. For instance, in March 2016, GlaxoSmithKline collaborated with 2morrow Inc., the developer of the SmartQuit app, to deliver patches to smokers who were enrolled in the app plan. In August 2013, the company agreed with Amneal Pharmaceuticals LLC to distribute its Buprenorphine HCl and Naloxone HCl Dihydrate Sublingual Tablets (CIII), a generic version of Suboxon, to addiction treatment centres.

Growing use of alcohol, tobacco, and opiate drugs: The addiction treatment market is expanding due to high consumption of alcohol, tobacco, and drugs. Consumption of alcohol, drugs, and tobacco products has increased in the market, although awareness of these problems has developed and strict guidelines have been established for their use. Narcotics are a type of opiate pain reliever available to treat moderate-to-severe pain. In any case, drug abuse and misuse lead to drug resistance and addiction. Later, the widespread use of these substances will take over habits worldwide, leading to the development of the market.

Market Restraints

Reluctance among Drug-Use Disorder Patients: The stigma associated with substance abuse disorders discourages people from getting help by fostering feelings of guilt and judgmental anxiety. Furthermore, the desire to seek professional assistance is hampered by a denial of the seriousness of the problem or the conviction that self-management is possible. These kinds of beliefs and difficulties have a big effect on the market because they limit the use of drugs like buprenorphine and naltrexone by lowering demand for them. As a result, there are obstacles to the market's expansion because there are fewer patients who are actively seeking care.

High Treatment Cost: The market's expansion is hampered by the higher costs associated with the various treatment methods. In order to expedite the recovery process, a number of market participants engage heavily in the development of novel and cutting-edge treatment techniques; nevertheless, this results in higher costs.

Stigma Related to substance abuse Treatment: People are frequently discouraged from getting treatment because of the stigma associated with mental health disorders and addiction. The market's potential reach is limited because many affected persons are afraid of societal criticism and discrimination, which prevents them from identifying their condition or from seeking professional help for addiction therapy.

Notable Recent Updates

• January 2023, Tempero Bio announced the FDA clearance of an investigational new drug (IND) application for TMP-301. TMP-301 is an investigational metabotropic glutamate receptor 5 (mGluR5) negative allosteric modulator (NAM) candidate that is considered for the treatment of cocaine use disorders (CUD).
• January 2022, Pfizer announced a new strategic partnership with Alex Therapeutics to personalize treatment through digital therapeutics and use AI-based platform of the latter company to provide Cognitive Behavioural Therapy (CBT) and Acceptance and Commitment Therapy (ACT) to patients of nicotine addiction.
• December 2022, Indivior PLC. entered into a collaborative agreement with Addex Therapeutics, a clinical-stage pharmaceutical company, for the discovery and development of novel oral gamma-aminobutyric acid subtype B (GABAB) Positive Allosteric modulator (PAM) drug candidates. Under this agreement, Indivior will provide the latter company with round $900,000 in additional research funding.
• June 2021, Aelis Farma, a biotechnology organization working on cerebrum issues, declared essential cooperation and choice permit concurrence with Indivior Plc to address the serious results of weed use problems (CUD), including marijuana-prompted psychosis (CIP).

Healthcare Policies and Regulatory Landscape

Treatment for substance use in Canada can be either publicly or privately funded. Most people are covered by Canada's Medicare, a largely single-payer system; addiction and psychiatric disorders are insured on par with other medical disorders. The four pillars of prevention, treatment, harm reduction, and enforcement are acknowledged in Canada's policy.

The Pharmaceutical Drugs Directorate (formerly the Therapeutic Products Directorate) is Canada's regulator of prescription pharmaceutical drugs for human use. Before authorizing a drug for sale in Canada, PDD verifies that it meets the safety, efficacy, and quality requirements of the Food and Drugs Act and its Regulations.

Health Canada’s Substance Use and Addictions Program (SUAP) provides contribution funding to the government and to community-led and not-for-profit organizations in Canada. SUAP targets a range of substances, including opioids, stimulants, cannabis, alcohol, nicotine, and tobacco, at the community, regional, and national levels. Individuals, for-profit groups, and federal Crown corporations are ineligible for contribution funding under SUAP.

Competitive Landscape

Key Players

• Alkremes Plc.
• Teva Pharmaceutical Industries Ltd.
• Glenmark Pharmaceuticals
• Titan Pharmaceuticals, Inc.
• Pfizer, Inc.
• GlaxoSmithKline plc
• Johnson & Johnson
• Perrigo Company plc.
• Cipla Limited
• Hikma Pharmaceuticals Plc.