Global Substance Abuse and Addiction Treatment Market Projected to Grow

Monday, February 5, 2018 General News
Email Print This Page Comment bookmark
Font : A-A+ News Commentary

NEW YORK, February 5, 2018 /PRNewswire/ --

According to a report

by BCC research the global substance abuse and addiction treatment market has the potential to reach $4.4 billion annually by 2021. The main reason for the global rise in substance abuse, substance dependence, and addiction
treatment is the increasing use of psychoactive substances. The report also indicates that the substance abuse and addiction treatment market is categorized into three types based on condition: nicotine, alcohol, and drugs. Drug dependence is the largest segment. In 2016, the drug abuse segment recorded the highest revenue, at $2.3 billion. BioCorRx Inc. (OTC: BICX), Elite Pharmaceuticals, Inc. (OTC: ELTP), Titan Pharmaceuticals, Inc. (NASDAQ: TTNP), DURECT Corporation (NASDAQ: DRRX), ImmunoCellular Therapeutics, Ltd. (NYSE: IMUC),

A major portion of the substance abuse market is the opioid abuse segment, which is projected to be valued at $2.5 billion by 2021. Addiction to opioids is on the rise and is leading to serious health problems. BCC Research analyst and report author, Yojana Jeevane, explained, "Drug abuse is a serious health problem affecting peoples' lives and often ruining families… Therefore, it is of prime importance to monitor and control drug abuse, through drug testing that can measure the use of drugs and helps in the evaluation and proper treatment of addiction."

BioCorRx Inc. (OTCQB: BICX) on January 26th the company announced, "that it held a pre-Investigational New Drug (pre-IND) meeting with the U.S. Food and Drug Administration (FDA) on January 24, 2018 regarding the Company's naltrexone implant, BICX102. BICX102 is the Company's sustained release naltrexone implant for the treatment of opioid and alcohol use disorders.

The National Institute on Drug Abuse (NIDA) joined the meeting as observers, along with Brady Granier, CEO and Director of BioCorRx, and the Company's regulatory experts and consultants. In the meeting, BioCorRx discussed the responses that were received prior to the meeting from the FDA in regard to the pre-IND package, which had been submitted last month.  The package included information on BICX102, as well as the proposed development plan for commercialization. As a result of the meeting, the Company plans to move forward with the product as anticipated.

Brady Granier, President, CEO and Director of BioCorRx, stated, "We are pleased with the FDA's responses to our development plan and appreciative of their time in the meeting. We look forward to providing a more thorough update as soon as we receive and review the meeting minutes from the FDA as to confirm all items verbally discussed. In the meantime, we will continue moving forward with our BICX102 plans."

Elite Pharmaceuticals, Inc. (OTCQB: ELTP) is a specialty pharmaceutical company which is developing a pipeline of proprietary pharmacological abuse-deterrent opioid products as well as niche generic products. Recently, the company reported positive topline results from a pilot study conducted for SequestOx™, Elite's immediate release Oxycodone Hydrochloride product that incorporates its proprietary abuse-deterrent technology. SequestOx is Elite's investigational abuse-deterrent immediate-release oxycodone product with sequestered naltrexone for the management of moderate to severe acute pain where the use of an opioid analgesic is appropriate.  The study was a Phase 1 pilot, randomized, single-dose, single period, pharmacokinetic study in healthy male and female volunteers in the fed state. The test products included two formulation modifications of SequestOx, a unique abuse-deterrent formulation without sequestered naltrexone, and a reference product.  The following table summarizes the Tmax results for the pilot study.

Titan Pharmaceuticals, Inc. (NASDAQ: TTNP), based in South San Francisco, CA, is developing proprietary therapeutics primarily for the treatment of serious medical disorders. The company's lead product is Probuphine®, a novel and long-acting formulation of buprenorphine for the long-term maintenance treatment of opioid dependence. On January 22, 2018, the company confirmed that it and Braeburn Pharmaceuticals, Inc. are in discussions regarding their partnership for the development and commercialization of Probuphine, the first 6-month maintenance treatment of opioid dependence. "We continue to believe that Probuphine has an important role to play in combatting the national epidemic of opioid addiction," said Executive Chairman Marc Rubin, M.D. "To that end, our goal is to make certain that Probuphine is positioned for commercial success, and we will explore all available opportunities to achieve that. We look forward to working with Canaccord Genuity to assist us in this endeavor."

DURECT Corporation (NASDAQ: DRRX) is a biopharmaceutical company actively developing new therapeutics based on its Epigenetic Regulator Program and proprietary drug delivery platforms. On December 13, 2017, the company announced that Indivior PLC has reported that the U.S. Food and Drug Administration (FDA) has accepted the New Drug Application (NDA) for RBP-7000.  RBP-7000 is an investigational, once-monthly injectable risperidone for the treatment of schizophrenia. Indivior PLC further reported that the FDA has set a PDUFA (Prescription Drug User Fee Act) target action date of July 28, 2018. Indivior is a global specialty pharmaceutical company with a 20-year legacy of leadership in patient advocacy and health policy while providing education on evidence-based treatment models that have revolutionized modern addiction treatment. Indivior is dedicated to transforming addiction from a global human crisis to a recognized and treated chronic disease. Building on its global portfolio of opioid dependence treatments, Indivior has a strong pipeline of product candidates designed to both expand on its heritage in this category and address other chronic conditions and co-occurring disorders of addiction, including alcohol use disorder and schizophrenia.

ImmunoCellular Therapeutics, Ltd. (NYSE: IMUC) is a Los Angeles-based clinical-stage company that is developing immune-based therapies for the treatment of brain and other cancers. On December 13, 2017, the company announced that it has achieved a key milestone in its research-stage Stem-to-T-Cell immuno-oncology program. The milestone represents an important step toward stimulating the patient's immune system to produce an unlimited supply of killer T cells that specifically target and destroy tumor cells with minimal side effects. This approach could be effective in treating many types of cancers. The research team at ImmunoCellular successfully packaged a T cell receptor (TCR) DNA sequence into a lentiviral vector, which was then used to transfect human hematopoietic stem cells. The Company has been able to verify successful transfer of genetic material into the stem cells, and plans to continue to work toward optimizing the transfection process. The Company believes that this completed phase of the Stem-to-T-Cell development is an important component of the proof-of-concept work for this technology, and represents a critical step in advancing toward preclinical testing.  

Subscribe Now! Watch us report from LIVE

Follow us on Twitter for real time Financial News Updates:

Follow and talk to us on Instagram:

Facebook Like Us to receive live feeds:

About, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, creates 100% unique original content. also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content),, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. receives fees for producing and presenting high quality and sophisticated content on along with other financial news PR media services. does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. has not been compensated by any companies mentioned. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. will always disclose any compensation in securities or cash payments for financial news dissemination and PR advertising. does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security., members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use. Please visit: .

For further information: +1-877-601-1879



Post your Comments

Comments should be on the topic and should not be abusive. The editorial team reserves the right to review and moderate the comments posted on the site.
* Your comment can be maximum of 2500 characters
I agree to the terms and conditions

News A - Z


News Search

Medindia Newsletters

Subscribe to our Free Newsletters!

Terms & Conditions and Privacy Policy.

Find a Doctor

Press Release Category

Press Release Archive

Stay Connected

  • Available on the Android Market
  • Available on the App Store