Cannabis use disorder, also known as cannabis addiction,
refers to compulsive cannabis use despite harmful consequences. Some key
symptoms of cannabis use disorder include a strong desire to use cannabis,
spending a lot of time getting, using or recovering from cannabis use, giving
up important social and occupational activities due to cann
abis use, and
continuing to use cannabis even when it causes problems. The increasing abuse
of cannabis worldwide has fueled the need for effective treatment of cannabis use
disorder. Cannabis is one of the most commonly abused illicit substances
globally, especially among youth. The negative health, social and economic
impacts of severe cannabis dependence have highlighted the importance of
developing specialized treatment options.
The global Cannabis
Use Disorder treatment market size is estimated to be valued at US$1.64 Bn
in 2024 and is expected to exhibit a CAGR of 9.3% over the forecast period of
2024-2031.
Increasing
awareness about cannabis addiction and availability of newer treatment
therapies are some of the key factors driving market growth. Additionally,
legalization of medical cannabis in several countries has also increased focus
on the harms of cannabis abuse.
Key Takeaways
Key players operating in the cannabis use disorder treatment market include
Aelis Farma, Indivior, Pfizer, Corbus Pharmaceuticals, and Zynerba
Pharmaceuticals. These companies have spearheaded research on novel
cannabinoid-based and other therapeutic drugs for cannabis use disorder.
Key opportunities in the market revolve around development of non-addictive
medications with limited side effects. Currently available therapies such as
naltrexone often cause side effects like insomnia, nausea and anxiety that
compromise treatment compliance. Companies are working on innovative drug
delivery approaches like transdermal patches to improved efficacy and safety.
Geographically, North America dominates the global market owing to supportive
regulatory environment and presence of major market players. However, Asia
Pacific region is expected to witness highest growth during the forecast period
driven by large patient pools in China and India and rising acceptance of
cannabinoid therapies. Significant market potential also exists in Europe and
Latin American countries due to growing awareness.
Market Drivers
One of the key drivers of the cannabis use disorder treatment market is growing
abuse of cannabis worldwide especially among the youth population. According to
various estimates, over 182 million people globally abuse cannabis each year.
The negative health consequences of long-term cannabis dependence including
higher risks of mental illnesses have raised concerns. This has increased the
need for a safer and proven therapy to curb cannabis addiction.
Market Restrain
Limited availability and acceptability of existing therapeutics poses a major challenge
to market growth. Currently available cannabis use disorder treatment options
like naltrexone and counseling/behavioral therapies have low adoption due to
social stigma around cannabis use and side effects of medications. Even in
countries where medical cannabis is legal, its abuse remains negatively
perceived which restrains patients from seeking formal care. Lack of awareness
about harms and available treatment options especially in developing countries
also restricts market demand to some extent.
Segment Analysis
The global Cannabis Use Disorder market is dominated by the CBD-based
therapies segment owing to the proven therapeutic benefits of CBD in managing
symptoms related to Cannabis addiction and withdrawal. CBD-based therapies
offer advantages like no intoxicating effects, anxiety relief, better sleep,
reduced cravings and withdrawal symptoms among users. The growing legalization
of cannabis is also fueling research on CBD-based treatment options. The
pharmaceuticals sub-segment holds prominence under the CBD therapies segment
due to availability of oral drugs and pills containing standardized extracts of
CBD.
Global Analysis
North America commands the major share in the global Cannabis Use Disorder
market due to high cannabis usage among the population and rising legalization
of medical cannabis across states like Colorado and California. According to
research, about 30 million people in America have used cannabis in the past
year. The region is also witnessing significant funding into development of
advanced medications for cannabis use disorder. Europe ranks second driven by
favorable reimbursement policies for addiction therapies and growing awareness.
Asia Pacific is poised to emerge as the fastest growing regional market on
account of unmet needs, increasing healthcare expenditure and expansion of key
players looking to tap the opportunities.
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What
Are The Key Data Covered In This Cannabis Use Disorder Market Report?
:- Market
CAGR throughout the predicted period
:- Comprehensive
information on the aspects that will drive the Cannabis Use Disorder 's growth
between 2024 and 2031.
:- Accurate
calculation of the size of the Cannabis Use Disorder and its contribution to the market, with
emphasis on the parent market
:- Realistic
forecasts of future trends and changes in consumer behaviour
:- Cannabis
Use Disorder Industry Growth in North
America, APAC, Europe, South America, the Middle East, and Africa
:- A
complete examination of the market's competitive landscape, as well as
extensive information on vendors
:- Detailed
examination of the factors that will impede the expansion of Cannabis Use
Disorder vendors
About Author:
Ravina Pandya, Content Writer, has a strong foothold
in the market research industry. She specializes in writing well-researched
articles from different industries, including food and beverages, information
and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
*Note:
1.
Source: Coherent Market Insights, Public sources, Desk research
2.
We have leveraged AI tools to mine information and compile it
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