 |
| Opioid Use Disorder Market |
Opioid use disorder drugs help reduce withdrawal symptoms and drug cravings in individuals suffering from opioid addiction. Opioids are highly addictive and abuse of such substances have led to rising cases of opioid use disorder. According to the World Health Organization, around 34 million people suffer from opioid use disorders globally.
The global
Opioid Use Disorder Market is estimated to be valued at US$ 3728.51 Bn in 2024 and is expected to exhibit a CAGR of 8.0% over the forecast period
2024 to 2031, as highlighted in a new report published by Coherent Market
Insights.
Market key trends:
Increasing prevalence of opioid use disorder is one of the key trends driving
the growth of the opioid use disorder market. According to the National
Institute on Drug Abuse, around 10.1 million people aged 12 years and older
misused opioids in 2018 in the United States. The high number of individuals
suffering from opioid addiction has boosted the consumption of
medication-assisted treatment drugs such as buprenorphine and methadone,
thereby fueling the market growth. The availability of generic versions of
these drugs at lower costs is also augmenting the demand. In addition,
favorable government policies regarding subsidization of opioid use disorder
drugs are contributing significantly towards market expansion during the
forecast period.
Segment Analysis
The global opioid use disorder market is segmented based on drug type,
application, and distribution channel. Based on drug type, the market is
categorized into buprenorphine (Suboxone, Bunavail), methadone (Dolophine), and
naltrexone (Vivitrol). Among these, buprenorphine dominates the segment
attributed to its long-acting nature and low risk of overdosing and opioid
withdrawal symptoms. Based on application, the market is bifurcated into pain
management, de-addiction, and others. Out of these, the de-addiction segment
dominates since opioids are commonly abused for their euphoric effects. Based
on distribution channel, the market is segmented into retail pharmacy, hospital
pharmacy, and others. Retail pharmacy dominates the segment due to the easy
availability and accessibility of opioid use disorder drugs.
Key Takeaways
The global Opioid
Use Disorder Market Growth is expected to witness high growth during
the forecast period. The global Opioid Use Disorder Market is estimated to be
valued at US$ 3728.51 Bn in 2024 and is expected to exhibit a CAGR of 8.0% over
the forecast period 2024 to 2031.
The North American region dominates the global market and is expected to hold
the largest share of the market during the forecast period owing to robust
healthcare infrastructure and rising prevalence of opioid addiction in the
region, especially in the U.S. This is attributed to the robust healthcare
infrastructure and rising prevalence of opioid addiction in countries such as
the U.S., Canada, and Mexico. According to the U.S. National Institute on Drug
Abuse, around 9.9 million people misused prescription pain relievers, and
629,000 people used heroin in the United States in 2020. This rising opioid
abuse has boosted the opioid use disorder treatment market in this region.
Key players related content comprises
Key players operating in the opioid use disorder market are Mundipharma
International Limited, Hikma Pharmaceuticals PLC, Indivior PLC. Mundipharma
dominates the global opioid use disorder market with its key therapies, such as
Suboxone and Budense for opioid dependence treatment.
For more insights, read- https://www.newsstatix.com/opioid-use-disorder-market-trends-size-and-share-analysis/
For more
details on the report, Read- https://whotimes.com/change-harmony-exploring-the-dynamic-world-of-ion-exchange-membranes-for-applications/
0 Comments