Global Opioid Dependence Treatment Market Highlights Over 2022 - 2031
The global opioid dependence treatment market is estimated to garner a sizeable revenue by growing at a significant CAGR over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the increasing number of cases of opioid abuse and addiction among people across the world, and favorable reimbursements for smoking cessation therapy. According to the World Health Organization (WHO), 275 million in the world used drugs at least once in 2019. Amongst the, 62 million people used opioids, and 36.3 million suffered from drug use disorders. Along with these, government initiatives to spread awareness about drug abuse and the significance of addiction treatment is also expected to drive robust growth to the market in the years to come. Furthermore, increasing investments by pharmaceutical companies to introduce novel products to treat opioid dependence, and upsurge in the number of rehabilitation treatment clinics globally are projected to offer ample growth opportunities to the market in the near future.
The market is segmented by sales channel into retail pharmacies, online pharmacies, hospitals, and rehabilitation centers, out of which, the hospitals segment is anticipated to hold the largest share in the global opioid dependence treatment market. This can be accounted to the high dependence of the patient population on hospital settings for the administration of parenteral drugs, namely buprenorphine. Apart from this, the online pharmacies segment is assessed to acquire the largest share over the forecast period owing to the high convenience for drug acquisition attached to these pharmacies. Additionally, on the basis of drug class, the buprenorphine segment is predicted to grab the largest share during the forecast period in view of the growing usage of buprenorphine patches to treat opioid use disorder, as these are pain-free and self-administrable. CLICK TO DOWNLOAD SAMPLE REPORT
Major Macro-Economic Indicators Impacting the Market 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.
Global Opioid Dependence Treatment Market Regional Synopsis
Regionally, the global opioid dependence treatment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the growing awareness among general population about opioid use disorder, and large patient pool in the region. As per the U.S. Department of Health and Human Services, as per a survey conducted in 2019, 10.1 million people aged 12 years or older misused opioids in 2018, whereas 9.7 million people misused prescribed pain relievers. Moreover, the market in North America is expected to acquire the largest share during the forecast period owing to the increasing number of people suffering from opioid dependency, and high emphasis of government to tackle the same. In addition, high healthcare spending is also projected to boost the market growth in the region in the coming years.
The global opioid dependence treatment market is further classified on the basis of region as follows:
Our in-depth analysis of the global opioid dependence treatment market includes the following segments:
By Drug Class
By Sales Channel
Top Featured Companies Dominating the Market
FREQUENTLY ASKED QUESTIONS
The major factors driving market growth are increasing number of cases of opioid abuse and addictions among people worldwide, and favorable reimbursements for smoking cessation therapy.
The market is anticipated to attain a significant CAGR over the forecast period, i.e., 2022-2031.
The major players in the market are Orexo AB, Indivior PLC, Titan Pharmaceuticals, Inc., Viatris Inc., Pfizer, 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 class, sales channel, and by region.
The hospitals segment is anticipated to hold largest market size and is estimated grow at a notable CAGR over the forecast period and display significant growth opportunities.
Side effects of opioid use disorder drugs is estimated to hamper the market growth.
Asia Pacific will provide more business opportunities for market growth owing to the growing awareness among general population about opioid use disorder, and large patient pool in the region.
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