New York, July 26, 2022 (GLOBE NEWSWIRE) -- As per the World Health Organization, around 275 million people, or 5.5% of the world's population between the ages of 15 and 64 years, used drugs at least once in 2019. About 62 million of them were opioid users. In 2019, about 36.3 million people experienced drug use problems. Prescription opioid use is on the rise, compared to the majority of opioid addicts who utilized illegally produced and grown heroin.
Research Nester has published a detailed market report on ‘Global Opioid Dependence Treatment Market’ for the forecast period i.e. 2022 – 2031 which includes the ongoing industry innovations and recent trends being adopted by the major industry players to achieve their business targets. Apart from that, the inclusive data on market size, growth rate, market revenue share, growth opportunities and challenges for the market players along with worldwide analysis on five major regions – North America, Latin America, Europe, Asia Pacific and Middle East & Africa has been provided in the report.
Drug use is responsible for 0.5 million fatalities worldwide. Overdose is a factor in more than 30% of these deaths, which have an opioid connection in more than 70% of cases. The global opioid dependence treatment market to grow at a significant CAGR over the forecast period. The growth of the market can be attributed to regular non-medical usage, use for an extended period, misuse, and use without a prescription. These traits potentially result in opioid dependence and other health issues. Strong internal motivation to use opioids is the defining trait of dependency, and persistence in using even when doing so causes harm or has negative effects. Therefore, the increasing opioid dependency, growing numbers of opioid abuses, and rising overdose cases are estimated to drive the market growth throughout the forecast period. It was noticed that two-thirds of opioid-related overdose deaths in the USA in 2018 were synthetic opioids, including a drug fentanyl and its analogs. Between 2010 and 2018, there was a 120 percent increase in the number of opioid overdose deaths in the USA.
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Furthermore, the increasing usage of opioid as a pain killer and its growing usage in treating chronic diseases, namely, cancer, cardiovascular diseases, and diabetes, and in addition to this, the dependency of patients on opioid drugs even after completion of the prescribed time period are estimated to drive the market growth over the forecast period. As per a report, after having heart surgery, about 10% of individuals who receive an opioid prescription will keep using them for at least 90 days. Further, the incidence of drug use disorders is predicted to be significantly boosted by poverty, low levels of education, and social marginalization. Vulnerable and marginalized populations mainly women, often additionally encounter difficulties in receiving treatment services owing to stigma and discrimination, which results in more fatalities. This increasing usage of opioid drugs among the lower middle-class population, adults, and women is estimated to drive market growth during the forecast period. As per the United Nations Office on Drugs and Crime, opioids continue to be the most dangerous drugs, with a 71 percent increase in fatalities from opioid use disorders over the past ten years and a 92 percent increase in deaths among women compared to a 63 percent increase in deaths among males.
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On the basis of geographical analysis, the global opioid dependence treatment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa region. Out of these, Asia Pacific region is estimated to hold noteworthy market share over the forecast period owing to the growing public awareness of opioid use disorder and increasing cases of opioid abuse. In addition to this, the larger patient population base and rising healthcare spending in the region are estimated to drive the market growth throughout the forecast period. As per the World Bank, the overall health expenditure (% of GDP) in the East Asia Pacific region increased from 6.51% in 2018 to 6.67% in 2019. Further, the increasing consumption of tobacco and tobacco smoking by opioid addicts. and government’s drive to provide favourable reimbursement policies for smoking cessation therapy in the region is predicted to boost the market growth during the forecast period.
On the other hand, North America region is estimated to hold the largest market share over the forecast period owing to the rising numbers of individuals suffering from opioid dependency, increasing efforts and intervention of government bodies to curb the drug prevalence, and, the presence of key market players in the region. As per the National Health Statistics Report, in 2019, 22.1 percent of American adults with chronic pain utilized an opioid prescription, with adults aged 45 to 64 having the highest prevalence (25.9%), female adults (24.3%), and unemployed (27.8%). In addition to this, the increasing investment in the healthcare sector and research and development activities, and growing awareness among the general population backed by rising rehabilitation centers in the region are estimated to propel the market growth over the forecast period.
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The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
The global opioid dependence treatment market is segmented by sales channel into retail pharmacies, online pharmacies, hospitals, and rehabilitation centers. Out of these, the hospitals segment is estimated to gain the largest market share over the forecast period owing to the large patient pool who depend on opioid prescriptions to help them manage their ailments while under a doctor's care. Additionally, increasing awareness among opioid addicts that opioid use disorder is a chronic, lifelong condition that potentially leads to impairment, relapses, and even death, and this in turn is estimated to increase patient numbers and overall spending in the healthcare sector. As per one of the expenditure data reports, global healthcare spending has increased overall during the previous 20 years, doubling in real terms, reaching USD 8.5 trillion in 2019 and 9.8% of GDP (up from 8.5% in 2000). Furthermore, the rising usage of advanced technology and favorable reimbursement policies are estimated to drive the segment growth over the forecast period.
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Apart from this, the online pharmacies, a sub-segment of the sales channel segment is estimated to acquire the largest market share over the forecast period owing to the quick development of the internet, rise of digital health, shift away from direct doctor-patient interactions towards self-diagnosis, consumer experience with online purchases, the simplicity of mail-order trade, and distance selling. One study indicated that most of the online users were older, more likely to have private insurance, had more prescriptions, had better family income and were more educated. This study involved 443 online pharmacy users or an average of 1.5 million people annually in the USA.
Further, the global opioid dependence treatment market is segmented by drug class into naloxone, buprenorphine, and methadone. Out of these, the buprenorphine segment is estimated to drive market growth over the forecast period. The growth of the segment can be attributed to the increasing usage of buprenorphine patches to treat opioid use disorder. The buprenorphine patches are a revolutionary strategy with several benefits over traditional therapies including injections since they are the most comfortable method of medication delivery, significantly relieve pain, and allow patients to self-administer. These transdermal patches also serve as a viable substitute for patients who require 24/7 opioid medication for opioid use disorder. Moreover, the increasing rate of opioid use order cases is estimated to drive the segment growth over the forecast period. It was observed that up to 50% of patients undergoing chronic opioid medication are diagnosed with an opioid use disorder.
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Some of the prominent key players and their company profiling mentioned in the global opioid dependence treatment market research report include Orexo AB, Indivior PLC, Titan Pharmaceuticals, Inc., Viatris Inc., Pfizer, Inc., Hikma Pharmaceuticals PLC, BioDelivery Sciences International Inc., Teva Pharmaceuticals Industries Ltd., Alkermes, Camurus AB, and other key market players. The profiling enfolds growth opportunities, challenges, and market trends prevalent for the growth of the market during the forecast period.
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