Global Opioid Use Disorder Market is expected to grow at a CAGR of 10.23% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Opioid Use Disorder Market by Drugs (Buprenorphine, Naltrexone and Methadone), Route of Administration (Parental and Oral), Distribution Channel, Applications, Region, Global Forecast 2020-2027.
The global opioid use disorder market is expected to grow from USD 1.86 billion in 2019 to USD 4.05 billion by 2027, at a CAGR of 10.23% during the forecast period 2020-2027. North America is the dominant market in terms of market share. The government initiative has helped the market to grow many folds in the region. The reason behind the formation of policies by the government is the opioid crisis of the U.S. and Canada. However, Europe is expected to grow at a significant rate. The growth can be attributed to the growing chronic population and increasing prevalence of chronic pain in the patient population.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Key players in the opioid use disorder market are Hikma Pharmaceuticals, Teva Pharmaceuticals, Titan Pharmaceuticals, Camurus, Omeros, MediciNova, Orexo, Alkermes, Indivior and others. In, December 2019, Orexo AB, obtained the rights from the government to commercialize the drug, Zubsolv in the outside regions.
The drugs segment includes buprenorphine, naltrexone and methadone. The buprenorphine segment further includes bunavail, suboxone, sublocade, zubsolv and others. The buprenorphine holds a large part of the market shares. The most used drugs for opioid use disorder is branded suboxone and buprenorphine sublingual tablet. These drugs have better clinical capabilities which enable fast recovery. They are efficient in managing the addiction with minimum side effects. Additionally, it provides favourable formula coverage which is the primary reason for the market demand of these drugs. The route of administration segment includes parental and oral. Oral segment constitutes the majority of the shares. The oral route is widely preferred due to the ease of use. Further, it requires minimum efforts and provides pain relief. The distribution channel includes retail pharmacies, hospital pharmacies and online. Out of these, the hospital pharmacies constitute the majority of the shares. The hospitals witness the high number of patients visiting than other healthcare centres. Thus, majority of the sales are from the hospital pharmacies. The application segment includes moderate pain treatment and severe pain treatment. Among these, the severe pain treatment holds the majority of the shares. The acute pain treatment requires intensive care. Opioids are majorly used for pain relief; thus, the disorder from consumption is majorly in patients suffering from severe pain.
Opioids are narcotics used for pain relief. Opioid use disorder is a result of prolonged, compulsive and continuous self-administration of the opioids. It possesses serious consequences like relapses, disability and even death. The disorder happens due to variety of reasons like when one cannot control the desire to use opioids, increased tolerance, etc. The opioid use disorder is also governed by genetic and environmental factors. The growing chronic diseases like cancer which requires intake of opioids is the major reason for the market growth.
About the report:
The global opioid use disorder market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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