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Description
Detox Product Market was estimated at USD 53,289.7 million in 2022 and is expected to grow at a CAGR of 4.8% from 2023 to 2029. Detox products are widely used for cleaning and purifying blood and internal organs from Harmful substances. The number of drug addict adolescents has increased significantly during the past decade owing to easy availability and changing lifestyles across the globe. According to the United Nations Office on Drugs and Crime (UNODC), around 3.5% to 7.0% of the global population is under the high influence of drugs. Due to the prevalence of chronic diseases, the number of people addicted to opioids has also increased significantly. Alcohol addiction among teenagers is one of the major issues, as industrial alcohol consumption among teenagers is increasing across the world. Government agencies from around the globe are taking various preventive majors and are spreading awareness through awareness campaigns in schools, colleges, and other such places. This factor is expected to drive the demand for detox products over the forecast period. The Pharmaceutical product segment is expected to lead the global detox products market in 2018 and is expected to maintain its position over the forecast period. The Rising availability of nicotine replacement therapy products coupled with the demand for chewing gums is driving the sales of pharmaceutical products. However, the herbal detox product segment is expected to witness the fastest CAGR over the forecast period. The High demand for green tea owing to its various health benefits is expected to grow well. The Rising consumption of green tea among smokers for detoxification is anticipated to fuel the product demand. Moreover, the availability of Herbal Detox Products with various flavors of green tea drives the product demand. For instance, in 2018, Red Tea Detox was launched. It reduces weight and improves the immune system along with detoxifying the body.
Key Developments:
In April 2018, Sandoz (a division of Novartis) signed an agreement with Pear Therapeutics to develop and market digital prescription therapies for patients with substance use disorder and opioid use disorders.
In May 2019, Himalaya Global Holdings Ltd. announced that it will introduce a new research center in Dubai. While the research center was expected to be launched in 2021, this move is supposed to back the rise in research and development activities in the detox products market. In addition to this, it will aid in making the company’s position strong in the global detox products market.
