April 20, 2024
Opioid Use Disorder Market

Opioid Use Disorder Market Is Expected To Be Driven By Advancements In Treatment Options

Opioid use disorder, also known as opioid addiction, occurs when chronic opioid use causes changes in the brain and interferes with an individual’s ability to control their use of these substances. People suffering from opioid use disorder are unable to stop using opioids despite negative social, psychological, and physical consequences. The global opioid use disorder market encompasses various treatment options such as medication-assisted treatment (MAT), behavioral therapy, implantable and non-implantable nerve stimulation devices. MAT is currently the front-line treatment and involves the use of FDA-approved medications like methadone, buprenorphine and naltrexone in combination with counseling and behavioral therapies to provide a whole-patient approach to care. Advancements in non-medication treatment options are also gaining ground, offering new hope to those suffering from this complex disorder.

The global opioid use disorder market is estimated to be valued at US$ 3728.51 billion in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

The “Opioid Use Disorder Market is Expected to be Driven by Advancements in Treatment Options” as alluded to in the heading. One major driver for the market growth is the development of innovative and more effective treatment options for opioid use disorder. For example, there have been significant advancements in implantable and non-implantable nerve stimulation therapies that block opioid brain signals and reduce cravings. Promising therapies like Transdermal Magnetic Optune have shown to augment MAT and improve patients’ quality of life. Advancements in medication formulations to make MAT therapies easier to administer and optimize treatment delivery are also spurring market opportunities. For instance, long-acting injectable buprenorphine and naltrexone formulations eliminate issues around medication adherence and reduce relapse risk. Continuous development of novel treatment modalities will drive wider market acceptability and uptake over the forecast period.

Segment Analysis

The opioid use disorder market is dominated by the buprenorphine sub-segment. Buprenorphine is dominating as it has lower potential for abuse and dependence as compared to other opioids. It has a ceiling effect with increased dosage and even at high doses it does not severely depress respiration.

PEST Analysis

Political: Regulations around the treatment and prescription of opioids have tightened in recent years to curb misuse and abuse. This has increased demand for alternatives for pain management and opioid addiction treatment.
Economic: Rising healthcare costs of the opioid epidemic and increasing government support and funding for addiction treatment centers is driving market growth.
Social: Growing social stigma around opioid addiction and rising awareness about substance abuse disorders is encouraging people to seek professional treatment.
Technological: Advancements in drug delivery methods, digital therapies and remote patient monitoring are expanding access and convenience of treatment.

Key Takeaways

The global Opioid Use Disorder Market Growth is expected to witness high growth over the forecast period. The global opioid use disorder market is estimated to be valued at US$ 3728.51 billion in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2024-2031.

Regional analysis

North America is the largest as well as the fastest growing regional market. According to statistics, the US witnessed over 33,000 opioid overdose deaths in 2020. This has prompted increased government focus and funding for expansion of substance abuse treatment facilities. In response, many leading players have established production and distribution facilities in the region to cater to the growing demand.

Key players related content

Key players operating in the opioid use disorder market are Indivior, Titan Pharmaceuticals, Hikma Pharmaceuticals, Teva Pharmaceuticals, MediciNova, Omeros, and Mylan among others. Indivior is the current market leader with its buprenorphine-based drugs like Sublocade and Suboxone occupying major market share. Titan Pharmaceuticals’ Probuphine implant is also gaining traction as a long-acting treatment alternative.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it