May 22, 2024
Opioid Use Disorder Market

Opioid Use Disorder Treatment Market is Estimated to Witness High Growth

The opioid use disorder treatment market is witnessing prominent growth owing to the increasing cases of opioid use disorder across the globe. Opioid use disorder refers to a problematic pattern of opioid use that causes clinically significant impairment or distress and is manifested by specific criteria such as feeling withdrawal symptoms, taking more opioids over a longer period than intended or persistent desire/unsuccessful attempts to cut down opioid use. The key products in the opioid use disorder market include buprenorphine, methadone, and naltrexone which are used to manage withdrawal symptoms and pain associated with opioid use disorder treatment. The growing awareness about the availability of such opioid use disorder treatment options and drugs is creating high demand for the market.

The Global opioid use disorder treatment market is estimated to be valued at US$ 3728.51 Bn in 2024 and is expected to exhibit a CAGR of 8.0% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the opioid use disorder treatment market are Moog Inc., Honeywell International Inc., AMETEK Inc., TE Connectivity, Woodward Inc., General Dynamics Corporation, Parker Hannifin Corp, Sensata Technologies, Tamagawa Seiki Co., Ltd., LTN Servotechnik GmbH. The key players are involved in developing innovative treatment products and strengthening their distribution networks to tap new emerging markets.

The key opportunities in the Opioid Use Disorder Market Size lie in developing generic versions of branded opioid disorder drugs to increase accessibility and affordability. Also, private and public partnerships aimed at creating awareness about opioid use disorder and available treatment options present significant prospects.

The market is witnessing high growth in North America and Europe due to rising awareness and availability of treatment. However, the Asia Pacific region is expected to offer lucrative expansion opportunities for players over the forecast period supported by improving healthcare infrastructure and growing disposable incomes in the region.

Market drivers

The major driver boosting the Opioid Use Disorder Market growth includes the rising economic burden of opioid use disorder worldwide. As per estimates, the economic costs of opioid use disorder and related overdose deaths totaled more than $78 Bn in the United States alone in 2013. Moreover, factors like increasing patient access to health insurance which covers costs of opioid use disorder drugs, rising R&D investments of players for new product development, and favorable regulatory guidelines are also propelling the market expansion.

PEST Analysis

Political: Government regulations on use and prescription of opioid drugs. Approval and regulation of new opioid addiction treatment drugs.

Economic: Rising healthcare costs associated with opioid addiction treatment. Growth in healthcare spending on new opioid addiction treatment therapies.

Social: Increasing social awareness and support programs around opioid addiction issues. Reducing stigma associated with opioid addiction and treatment seeking.

Technological: Advancements in medication-assisted treatment drugs and therapies. Growing role of digital therapies and technologies in opioid addiction treatment programs.

Geographical Regions:

North America region accounted for the largest share of the opioid use disorder market in terms of value in 2024 due to increasing prescription opioid addiction rates and awareness campaigns. The U.S. is the major revenue generating country in North America opioid use disorder market.

Asia Pacific is expected to be the fastest growing region in the opioid use disorder market during the forecast period owing to rising cases of prescription opioid addiction and expanding healthcare infrastructure across developing countries. Increasing government initiatives for opioid addiction treatment programs will further drive the Asia Pacific opioid use disorder market.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it