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/
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