According to American Psychiatric Association, in 2017, more than 72,000 Americans died from drug overdoses, including illicit drugs and prescription opioids and the mortality rate is anticipated to double in a decade. Opioids drugs produce euphoria due to activation of dopaminergic systems and also provides analgesics effects and hence it is used in pain management.
Patients on medication of opioids to treat pain and the one with drug abuse may develop opioid dependence causing withdrawal symptoms due to prolonged use which is called as opioid use disorder. The symptoms for the same include mental distress, confusion, disability, relapses, and sometimes death. Serious consequences associated with opioid use disorder has forced the government and healthcare authorities to take preventive measures to combat opioid addiction.
Opioid Use Disorder Market Outlook
- Rising number of opioid addiction cases and growing awareness by government launched advertising campaigns is anticipated to propel the opioid use disorder market
- Moreover, emerging counselling centers and use of medicinal therapies couples with behavioral therapies is also the factor behind vertical development
- Nevertheless, the difficulty in managing the addiction and adverse effect of certain drugs are impeding the market growth
Opioid Use Disorder Market COVID-19 Impact
- The global pandemic of Coronavirus (COVID-19) has triggered stock market instability, tight border controls, and worldwide lockdown, leading the healthcare industry, as well as large companies and governments, to restock supply chains
- The whole world is experiencing severe impact on social and financial sectors, and all global industries are facing challenges during the COVID-19 pandemic
- Rising support from governments and several companies can help in the fight against this highly contagious disease
Opioid Use Disorder Market Segmental Overview
- The opioid use disorder market is segmented by drug and geography
- The drugs used for treating the opioid use disorders are buprenorphine, fentanyl, hydrocodone, morphine, naloxone oxycodone, naltrexone, methadone and few others such as tramadol, benzodiazepines etc.
- Naloxone is a potentially life-saving medication which is used to quickly reverse the overdose of an opioid
- The methadone helps prevents the withdrawal symptoms and reduces cravings in people addicted to opioids
Opioid Use Disorder Market by Geography
Opioid use disorder market is analyzed across the various regions geographically such as North America, Europe, Asia Pacific and rest of world. North America held the dominant position due to new products entering the market and growing awareness advertising campaign in the region, in 2018. In Asia Pacific the governments are introducing several policies to control the crisis is expected to boost the market grow during the forecast periods.
Opioid Use Disorder Market Key Players
Major market players in opioid use disorder market are Indivior PLC, Pfizer Inc., Sun Pharmaceutical Industries Limited, Teva Pharmaceutical Industries Ltd., Johnson & Johnson, Lupin Limited, Cipher Pharmaceuticals, Daiichi Sankyo Company Limited, Acura Pharmaceuticals Inc., Hikma Pharmaceuticals PL, Camurus AB, Omeros Corporation, Orexo US, Inc., and Titan Pharmaceuticals. Major players operating in this market are focusing on developing a novel drug development and mergers & acquisitions as part of their key strategy to enhance the market share.
The opioid use disorder market is segmented by drug and geography. he drugs used for treating the opioid use disorders are buprenorphine, fentanyl, hydrocodone, morphine, naloxone oxycodone, naltrexone, methadone and few others such as tramadol, benzodiazepines etc.
Opioid use disorder market is examined across the various regions geographically such as North America, Europe, Asia Pacific and rest of world where the North America held the dominant position due to new products entering the market and growing awareness advertising campaign in the region, in 2019.
Why to buy this report:
- The report offers changing market dynamics in the opioid use disorder market, presenting historical, current and projected market size in terms of value (USD Million)
- The research study provides an in-depth analysis of the industry value chain focusing on the peer and parent markets of opioid use disorder market
- It presents a comprehensive assessment of geographical regions exhibiting promising growth, potential and niche segments, and a neutral perspective on the opioid use disorder market performance
- The report also offers strategic recommendations in key business segments based on the market estimations and competitive landscape, mapping the key common trends of opioid use disorder market
