PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1400996
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1400996
Opioid Use Disorder (OUD) Market size was valued at USD 2,800.1 Million in 2022, expanding at a CAGR of 10.59% from 2023 to 2030.
Opioid Use Disorder (OUD) is a chronic health disorder defined by the obsessive and dangerous use of opioids, which can include prescribed medications as well as illegal narcotics such as heroin. It is characterized by a variety of symptoms, including cravings, withdrawal, tolerance, and poor social and vocational performance. Medication-assisted therapy and psychological support are frequently used in effective treatment to help patients recover control of their lives and minimize opiate dependence.
Opioid Use Disorder (OUD) Market- Market Dynamics
Increasing Opioid Addiction Cases to propel market demand
The worldwide population is currently afflicted with a wide spectrum of severe and chronic diseases, including cardiovascular ailments, cancer, and other conditions. To treat these problems, painkillers, particularly opioids, are used. Drug usage frequently leads to drug addiction in patients. Patients may develop drug withdrawal symptoms as a result of their increasing reliance on these treatments and their sudden discontinuation. According to the CDC, a projected 2.7 million persons aged 12 and over in the United States will have OUD in 2021.
Opioid Use Disorder (OUD) Market- Key Insights
As per the analysis shared by our research analyst, the global Opioid Use Disorder (OUD) market is estimated to grow annually at a CAGR of around 10.59% over the forecast period (2023-2030)
The Opioid Use Disorder (OUD) industry is projected to grow at a significant rate due to the increasing opioid addiction cases
Based on drug type segmentation, agonist was predicted to show maximum market share in the year 2022
Based on route of administration segmentation, Intravenous was the leading type in 2022
Based on distribution channel segmentation, hospital pharmacy was the leading type in 2022
On the basis of region, North America was the leading revenue generator in 2022
The Global Opioid Use Disorder (OUD) Market is segmented on the basis of Drug Type, Route of Administration, Distribution channel, and Region.
The market is divided into three categories based on Drug Type: agonist and antagonist. Due to the rise in the incidence of chronic pain, a significant amount of opioid misuse, and the expanding elderly population susceptible to painful diseases, the agonist segment is predicted to dominate the market.
The market is divided into two categories based on distribution channel: hospital pharmacy and retail pharmacy. The hospital pharmacies segment is expected to account for a larger part of the worldwide market due to the patient population's reliance on this channel for the delivery of parenteral OUD medications such as buprenorphine.
Opioid Use Disorder (OUD) Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is likely to lead the market. This is due to the large number of people in the United States suffering from opioid addiction, the presence of significant stakeholders in the region, and the rising participation of local governments in combating the pandemic. According to a 2020 article released by the National Center for Biotechnology Information (NCBI), around 2.1 million people in the United States suffer with Opioid Use Disorder.
Due to the continued development in demand for air conditioning in the coming years, the worldwide market for air-to-air heat pumps is made of both international and local producers, making it one of the most competitive sectors in the world. Companies sell their products through a variety of channels, including corporate websites, e-commerce websites, retailers, distributors, and end consumers. Products makers compete on a variety of aspects, including product costs, performance, product making, Distribution channel, reputation, and availability. Some of the primary techniques used by corporations to strengthen their reach and expand their market share include new product launches, distribution network development, R&D spending, and mergers and acquisitions. For instance, April 2023, the New York State Office of Addiction Services and Supports (OASAS) and the New York State Department of Health (DOH) announced the introduction of the Buprenorphine Assistance Pilot Program, which will help with the expense of buprenorphine for opioid use disorder (OUD) treatment.
In March 2023, the acquisition of Opiant Pharmaceuticals, Inc. by Indivior PLC was finalized. The purchase will improve Indivior's position in the field of addiction therapy.
The scope of this report covers the market by its major segments, which include as follows: