The global opioid antagonist market is anticipated to record a significant CAGR throughout the forecast period, i.e., 2022-2030. The market growth can be attributed to the advantages of antagonist in blocking the effects of opioids in the body. It blocks opioid by attaching to the receptors without their activation. These drugs are mainly used as antidotes in order to reverse opioid overdose and in the treatment of opioid dependence as well as alcohol dependence. These factors are predicted to boost the market growth in the upcoming years. Moreover, increasing cases of drug abuse, especially among youth, is expected to boost the market growth. According to the data by the World Health Organization (WHO), in 2019, around 180,000 deaths were directly linked to drug abuse.
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The market is segmented by drug type, into buprenorphine, naltrexone, bunavail, and others, out of which, the buprenorphine segment is anticipated to hold the largest market share over the forecast period, owing to its excellent clinical profile. This drug has a great efficiency in managing addiction, with low potential for abuse as well as relatively mild adverse effects and its favourable formulary coverage are some of the factors that can be attributed to the high adoption of this drug.
On the basis of end-user, the market is segmented into hospitals, private clinics, and others, out of which, the hospitals segment is anticipated to garner the highest revenue during the forecast period, owing to the increasing patient pool for opium and alcohol dependency. Moreover, the critical condition of the individual addicted to drugs, and the need for specific treatment is estimated to boost the segment growth.
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
On the basis of regional analysis, the global opioid antagonist market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America is anticipated to hold the largest market share on the back of presence of nations such as the United States and Canada where there is opioid epidemic to a great extent. Furthermore, governments of the various countries in this region are introducing various policies in order to control the crisis, which is anticipated to promote the growth of the regional market. For instance, in the year 2018, government of the United States launched an awareness advertising campaign in order to combat addiction of opioid.
The market in the Asia Pacific is anticipated to hold the highest CAGR during the forecast period, owing to the rising cases of drug addiction, backed by growing population and poverty, in various developing countries. As per the data by the NIDA, in India, more than 2 million individuals suffered from opiate addiction, out of which, 25% needed immediate medical attention, in 2020.
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The global opioid antagonist market is further classified on the basis of region as follows:
Our in-depth analysis of the global opioid antagonist market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Increasing cases of drug abuse among youngsters is a major factor driving the market growth.
The market is anticipated to attain a significant CAGR over the forecast period, i.e., 2022-2030.
Side effect of withdrawal is one of the factors estimated to hamper the market growth.
The market in Asia Pacific is estimated to provide most growth opportunities owing to the high population, increasing cases of drug abuse, and growing awareness regarding addiction in the region.
The major players in the market are Titan Pharmaceuticals, Inc., Hikma Pharmaceuticals PLC, Orexo AB, Camurus AB, Acura Pharmaceuticals, BioDelivery Sciences International, Inc., Collegium Pharmaceutical, Inc., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by drug type, route of administration, end-user, and by region.
The hospital segment is anticipated to hold largest market over the forecast period owing to the growing patient pool of opium addiction.
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