The Opioid Use Disorder Market is estimated to be valued at US$ 3236.55 Mn or Mn in 2023 and is expected to exhibit a CAGR of 8.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Opioid use disorder occurs when a person misuses opioids and develops a dependency on them. Opioids are substances that act on opioid receptors to produce morphine-like effects. They alleviate pain but can also bring feelings of euphoria. Products used to treat opioid use disorder block or activate specific opioid receptors that control pain and feelings of reward in the brain. These products help reduce drug cravings and withdrawal symptoms so people can focus on counseling and other support needed for long-term recovery.
Market Dynamics:
The Opioid Use Disorder Market is driven by rising prevalence of opioid addiction owing to increase in prescription of opioids and availability of potent and cheap forms of synthetic opioids like fentanyl. As per National Institute on Drug Abuse (NIDA), approximately 9.9 million people aged 12 and older misused opioids in 2018, including 9.9 million prescription pain reliever abusers and 808,000 heroin users. The second driver is product innovations and expanding pipeline. Companies are constantly investing in R&D to develop new and safer products to treat OUD which will soon get approved and commercialized. For instance, Indivior PLC is developing new opioid dependence treatment based on sublingual buprenorphine films which may further boost the market growth over the forecast period.
Segment Analysis
The opioid use disorder market can be segmented into product type and distribution channel. Based on product type, the market is dominated by the buprenorphine segment owing to its effectiveness and safer alternative compared to methadone. Buprenorphine is a partial opioid agonist with a ceiling effect on respiratory depression making it safer for treatment of opioid addiction.
PEST Analysis
Political: Governments across countries are increasingly focusing on curbing the opioid crisis by promoting medication-assisted treatment programs and loosened restrictions on opioid use disorder drugs.
Economic: High healthcare burden of opioid addiction on economies and rising government spending on substance abuse treatment is driving market growth.
Social: Increasing social acceptance and programs for treatment of opioid addiction is supporting the market expansion. However, stigma continues to affect treatment seeking behavior.
Technological: Advancements in long-acting formulations such as monthly buprenorphine injections are improving treatment adherence and outcomes. Development of opioid overdose reversal drugs is also assisting policy-level interventions.
Key Takeaways
The Global Opioid Use Disorder Market Growth is expected to witness high, exhibiting CAGR of 8.7% over the forecast period, due to increasing policy support for expanding treatment access and technological developments. The US dominates the market currently owing to the severe opioid crisis and largest treatment-seeking population base. North America is expected to remain the highest revenue generating region over the forecast period.
Regional analysis
Asia Pacific region is expected to be the fastest growing market for opioid use disorder treatment due to improving access to medication across major countries like China, India and Australia. Strong government measures are being implemented to boost treatment rates from current low levels in the region.
Key players
Key players operating in the opioid use disorder market are Indivior PLC, Alkermes, Orexo AB, Titan Pharmaceuticals, Inc., Teva Pharmaceutical Industries Ltd., Mallinckrodt Pharmaceuticals, BioDelivery Sciences International Inc., Viatris Inc., Pfizer, Inc., Hikma Pharmaceuticals PLC, and Camurus. Indivior and Alkermes currently dominate the global market with their successful long-acting buprenorphine products.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
