SEATTLE, Aug. 27, 2021 (GLOBE NEWSWIRE) -- Global Opioid Use Disorder Market to Surpass US$ 4,911.8 Million by 2028, Says Coherent Market Insights (CMI)
According to Coherent Market Insights, the global opioid use disorder market is estimated to be valued at US$ 2,739.2 million in 2021 and is expected to exhibit a CAGR of 8.7% over the forecast period (2021-2028)
Key Trends and Analysis of the Global Opioid Use Disorder Market:
Key trends in the market include increasing incidence of opioid addiction, increasing approval of novel products, and increasing collaborations and acquisitions among key players. These key trends are expected to aid in growth of global opioid use disorder market.
For instance, according to the article published in the American Psychiatric Association in May 2018, an estimated 2 million people in the U.S. have a substance use disorder related to prescription opioid pain medication and the number of overdose deaths from prescription and illicit opioids doubled from just over 21,000 in 2010 to more than 42,000 in 2016.
Moreover, increasing approvals of novel products is expected to drive the market growth over the forecast period. For instance, in January 2019, Sandoz Inc., a Novartis division, and Pear Therapeutics, Inc., a pharmaceutical company, announced the launch of reSET-O for patients with opioid use disorder (OUD). reSET-O was approved by the U.S. Food and Drug Administration (FDA) in December 2018. The reSET-O prescription digital therapeutic (PDT) is a 12-week cognitive behavioral therapy intended to be used in addition to outpatient treatment. It includes transmucosal buprenorphine, a commonly used medication to treat opioid addiction, and contingency management designed to provide incentives to reinforce positive behaviors. reSET-O is available by prescription only for patients 18 years or older under the care of a clinician.
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Furthermore, key players operating in the global opioid use disorder market are focusing on adopting strategies such as acquisitions and collaborations, in order to expand their market presence in the global market. For instance, in February 2021, Orexo AB, a pharmaceutical company, announced its collaboration with ApexBio, a premier provider of Small Molecule Inhibitors/Activatorsand Magellan Rx, a specialty pharmacy company to further research on the use of Modia, a digital therapeutic designed for patients with opioid use disorder.
Key Market Takeaways:
The opioid use disorder market is expected to exhibit a CAGR of 8.7% over the forecast period, owing to robust and diversified product portfolio of key players such as Indivior PL, Alkermes, and others.
Among drug class, buprenorphine segment accounted for the largest market share in 2020, owing to greater adoption of these drugs in developed markets such as the U.S. and France, coupled with the presence of several branded products market under this segment. Some essential buprenorphine products include SUBLOCADE, SUBOXONE, and ZUBSOLV.
Among route of administration, parenteral segment accounted for the largest market share in 2020, owing to availability of various types of drug in different dosage in parenteral formulation.
Competitive Landscape:
Key players operating in the global opioid use disorder market include Indivior PLC, Alkermes, Orexo AB, Titan Pharmaceuticals, Inc., Teva Pharmaceutical Industries Ltd., Mallinckrodt Pharmaceuticals, BioDelivery Sciences International Inc., Viatris Inc., Pfizer, Inc., Hikma Pharmaceuticals PLC, and Camurus
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Market Segmentation:
- Global Opioid Use Disorder Market, By Drug Type:
- Buprenorphine
- Methadone
- Naltrexone
- Others
- Global Opioid Use Disorder Market, By Route of Administration:
- Oral
- Parenteral
- Global Opioid Use Disorder Market, By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Global Opioid Use Disorder Market, By Region:
- North America
- By Country
- U.S.
- Canada
- By Country
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Country
- South Africa
- Central Africa
- North Africa
- By Country
- North America
Related Market Intelligence Reports:
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U.S. Opioids Market, By Drugs (Codeine, Fentanyl, Meperidine, Methadone, Morphine, and Hydrocodone) and Therapeutic Application (Pain Management (Neuropathic Pain, Migraine, Back Pain, Osteoarthritis Pain, Cancer Pain, and Others), Cough Treatment, and Diarrhea Treatment) and by Geography - Trends and Forecast to 2025
About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.
