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HEALTHCARE & PHARMACEUTICAL

Medical Devices Used For Opioid Use Disorder and Drug Addiction Treatment Market Segmentation By Product (Wearable Devices and Non-Wearable Devices) – Industry Demand Analysis & Opportunity Outlook 2027

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Extensive insights into the Growth of Disorder and Drug Addiction Treatment Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS
  • In June 2019, Sandoz, a division of Novartis, and Pear Therapeutics , a company involved in delivering software based therapeutics, collaborated to commercialize Pear’s prescription digital therapeutics (PDTs), reSET ® and reSET O®, new therapies for the treatment of substance use disorder (SUD) and opioid use disorder (OUD).

Market Overview

There are certain medical devices, that is, products and solutions which are used to treat opioid use disorder as well as drug addiction. These can be broadly classified into wearable devices and non-wearable devices. Currently, there are a limited number of manufacturers having FDA approved medical devices for sale in the market. The highest rate of adoption for medical devices is observed by Drug Relief by DyAnsys and NSS-2 BRIDGE by Innovative Health Solutions, Inc. (IHS). They are both Class II medical devices with percutaneous electrical nerve field stimulator (PNFS) systems that reduce the effects of opioid withdrawal from patients.

The market for medical devices used for opioid use disorder and drug addiction treatment is projected to grow by a significant CAGR of 16.86% during the forecast period, i.e., 2020-2027. It is anticipated to reach a market value of USD 21.85 million by the end of 2027.

Growth Highlights based on Region during 2018-2027

The medical devices used for opioid use disorder and drug addiction treatment market is segmented on the basis of region into North America, Europe, Asia Pacific, Latin America and Middle East and South Africa. Based on geography, the market is anticipated to hold the leading share in the North America region. In addition to this, the highest growth is predicted to be observed by the market in North America with a CAGR of 18.48% over the forecast period. The high market share of the market can be attributed to the presence of leading companies in the region as well as generation of maximum revenue from these medical devices in the United States. In addition to this, the United States has a relatively higher patient count which is enrolled in drug recovery and rehabilitation facilities along with a higher demand for opioid based drugs for chronic pain. This is further anticipated to present an attractive investment prospect for manufacturers seeking to expand their market presence in the region. In Asia Pacific, the market is predicted to grow on account of growing research and development taking place in the region. CLICK TO DOWNLOAD SAMPLE REPORT

Medical Devices used for Opioid Use Disorder and Drug Addiction Treatment Market

The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).

 

Market Segmentation Synopsis

By Product

On the basis of product, the medical devices used for opioid use disorder and drug addiction treatment market is segmented into wearable devices and non-wearable devices. Out of these, the segment for wearable devices is estimated to hold the largest share in the market on account of increasing availability of wearable devices. The wearable devices segment is anticipated to attain a market size of USD 19.79 million by 2027. Moreover, the high demand for wearable devices as a result of their convenience to use is another factor contributing towards the large share of wearable devices segment in the market as well its high growth rate.

Medical Devices used for Opioid Use Disorder and Drug Addiction Treatment Market Share, by Product

Market Drivers and Challenges

Growth Indicators

As of now, the market for medical devices used for opioid use disorder and drug addiction treatment has a very small market size globally. On the back of this, the market is anticipated to present significant growth opportunities for business all across the world. This can be attributed to medical devices for drug addiction treatment being a very recent development in the market. Moreover, the high effectiveness and much lower side effects of medical devices as compared with medications and other treatment methods is further predicted to increase the demand in the market over the coming years.

Barriers

In spite of the various business opportunities present in the market, medical devices used for opioid use disorder and drug addiction treatment market is witnessing lesser growth as compared with the market for medications and other pharmaceutical products. High cost of the products and lack of awareness about medical devices for drug addiction treatment are estimated to be the major factors involved in the limited market growth.

Competitive Landscape

Some of the affluent industry leaders in the global medical devices used for opioid use disorder and drug addiction treatment market are DyAnsys Inc., Innovative Health Solutions Inc., SPARK BIOMEDICAL, INC, Brainsway, EvON Medics and Pear Therapeutics, Inc.

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