The global cannabis use disorder treatment market is on track for sustained growth, driven by a rising need for effective treatment options. According to a recent report by Future Market Insights (FMI), the market is expected to witness a Compound Annual Growth Rate (CAGR) of 4.9% from 2023 to 2033. This translates to a projected market valuation of US$ 2.66 billion by 2033.
Strong Start and Continued Expansion:
The market kicked off 2023 with positive momentum, with a projected value of US$ 1.65 billion by the end of the fiscal year. This represents an impressive Year-on-Year (YoY) increase of over 5%, highlighting a growing demand for cannabis use disorder therapies.
The forecast is underpinned by a compelling statistic from the United Nations Office on Drugs and Crime (UNODC), revealing that over 275 million individuals globally engaged in drug use in 2020, with more than 36 million grappling with drug use disorders.
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As per a UN Office on Drugs and Crime report, around 284 million people aged 15-64 used drugs worldwide in 2020, a 26% increase over the previous decade. Young people are using more drugs, with use levels today in many countries higher than with the previous generation. Globally, the report estimates that 11.2 million people worldwide are injecting drugs. Around half of this number were living with hepatitis C, 1.4 million were living with HIV, and 1.2 million were living with both.
To counter this, healthcare practitioners are adopting a slew of strategies that involve introducing virtual applications to help addicts quit their cannabis dependence or collaborating with governments to legalize recreational consumption. In addition, numerous clinical studies are underway to develop anti-dependence drugs, although the results at present appear quite limited.
Key Takeaways from the Global Cannabis Use Disorder Treatment Industry Study
- By type, treatment for tobacco/nicotine and vaping remain prominent, comprising 67% of all solutions
- Counselling & behavioral therapy are the most common treatment approaches, registering a 5.5% CAGR
- Rehabilitation centers are key places to seek cannabis use disorder treatment
- North America to account for 45% of all cannabis use disorder treatments, amid heavy marijuana dependence
- Latin America to emerge as an opportunistic market, expected to register a 4.5% CAGR
- Europe to experience a growth rate of 4% concerning CUD treatment
“With substance abuse becoming an area of major concern, healthcare providers are looking to collaborate with various entities, including governmental bodies, to push for legalization, as well as develop novel treatment drugs, which will provide ample opportunities for companies to develop key drugs,” remarks an analyst at FMI.
Global Cannabis Use Disorder Treatment Industry Competitive Landscape
The majority of cannabis use disorder treatments are based on counseling and therapy, healthcare companies are conducting extensive clinical trials, implementing research & development projects, and collaborating with major funding agencies and other established market players.
- In November 2022, Indivor Plc. entered into a definitive agreement with Opiant Pharmaceuticals Inc. wherein the former will acquire the latter to cement its position as a leader in addiction treatment. Through this acquisition, Indivor will now supervise the potential of OPNT003, an opioid overdose treatment drug that will reduce dependence on illicit drugs such as fentanyl
- Orexo AB is a prominent face in the cannabis use disorder treatment domain. Its amorphOX® drug delivery technology is highly scalable, possessing unique properties that support highly differentiated pharmaceutical products. One of its pipeline projects includes the OX124 medication for treating opioid overdose
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More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global cannabis use disorder treatment market, providing historical data for 2018-2022 and forecast statistics from 2023-2033.
To understand opportunities in the cannabis use disorder treatment, the market is segmented based on type (tobacco/nicotine and vaping, alcohol, marijuana, synthetic cannabinoids, and others), treatment (detoxification, counseling & behavioral therapy, medication, and support group) and end-user (hospitals and clinics, rehabilitation centers and others) across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa).
Key Segments Profiled in the Global Cannabis Use Disorder Treatment Industry Analysis
By Type:
- Tobacco/Nicotine and Vaping
- Alcohol
- Marijuana
- Synthetic Cannabinoids
- Others
By Treatment:
- Detoxification
- Counselling & Behavioral Therapy
- Medication
- Support Group
By End User:
- Hospitals and Clinics
- Rehabilitation Centers
- Others
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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