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Alcohol Dependency often called as alcoholism, is a chronic disease described as uncontrolled drinking or alcohol abuse. Healthcare professionals identifies it as a brain disease. A person suffering from alcohol dependency has no control over drinking due to physical as well as emotional dependence on alcohol.
Consumption of alcohol has been a common practice in many countries. Nonetheless, easy accessibility, fewer government restriction and high scale licensed manufacturing have led to an increase in alcohol dependency.
According to WHO, nearly one third of Americans drink enough alcohol to be considered at risk for alcohol addiction and around three million deaths, 5.3 % of all deaths, are reported from alcohol abuse every year. On a brighter side, numerous avenues are available for alcohol dependency treatment.
Alcohol dependency treatment involves counselling and group therapy as a first step. However, depending on the situation medications are often prescribed in combination with general alcohol dependency treatment options. This disease cannot be cured but can be prevented through proper medication for a successful alcohol dependency treatment.
Increasing prevalence of alcohol abuse and repeated overdrinking is expected to drive the market for alcohol dependency treatment. This disease does not discriminate and can impact anyone regardless of age or gender providing a bigger market for alcohol dependency treatment.
Increasing incidents of peer pressure and high levels of stress is one of the major causes of overdrinking among teenagers which fuels the market for alcohol dependency treatment. Alcoholism is prevalent in people dealing with mental illness, anxiety and depression which ultimately paves the way for growth of the alcohol dependency treatment market.
Moreover, mixing alcohol with drugs also leads to alcohol dependency thus elevating the market for alcohol dependency treatment. However, since the alcohol consumption is a common practice sometimes it is difficult to determine whether the person is affected with alcohol dependency or not and also the lack of understanding of alcohol dependency as a treatable disease could slow down the market for alcohol dependency treatment.
Additionally, there is no one-size-fits-all solution for the disease and many people require a combination of approaches which could affect alcohol dependency treatment market in negative way.
The global alcohol dependency treatment market is anticipated to be dominated by the North America due to rising prevalence of depression and anxiety issues and growing incidents of alcohol abuse. Europe is expected to be the next most profitable region in the global alcohol dependency treatment market owing to increasing awareness about alcohol use disorder.
Latin America market is anticipated to see constant growth whereas MEA expected to be the least lucrative market. Asia-Pacific is anticipated to be the fastest growing alcohol dependency treatment market due to massive population residing in countries such as China and India.
The key participants operating in the global alcohol dependency treatment market are: Teva Pharmaceuticals USA, Inc., LA Pharma, Psychotropics India Limited, Alkermes, GlaxoSmithKline plc., Allergan, Consern Pharma Limited, Novartis AG, Sanofi and others
