Global Cannabis Use Disorder Treatment Industry Set for Substantial Expansion, Envisaging a Valuation Surge to US$ 2.66 Billion by 2033 | FMI

In a groundbreaking development, the Global Cannabis Use Disorder Treatment Industry is set to witness a robust growth trajectory, as highlighted in a recent report by Future Market Insights. Projections indicate a remarkable Compound Annual Growth Rate (CAGR) of 4.9% from 2023 to 2033, signifying a period of substantial expansion.

The market, valued at US$ 1.57 billion in 2022, is anticipated to soar to US$ 1.65 billion by the end of FY 2023, showcasing an impressive Year-on-Year (Y-o-Y) increase of over 5%. This positive momentum is indicative of a burgeoning demand for effective 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 were 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 which involve introducing virtual applications helping 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 to remain prominent, comprising 67% of all solutions
• Counselling & behavioral therapy to be most common treatment approach, registering a 5.5% CAGR
• Rehabilitation centers to be key places to seek cannabis use disorders 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

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“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

Majority of cannabis use disorder treatments are based on counselling 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 which 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 which supports highly differentiated pharmaceutical products. One of its pipeline projects includes the OX124 medication for treating opiod 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, counselling & behavioral therapy, medication and support group) and end user (hospitals and clinics, rehabilitation centres 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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments based on Source, Application, Sales Channel and End Use over the next 10 years.

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