Opioid Withdrawal Treatment Market 2021 By Emerging Trends, Industry Share, Regional Overview and SWOT Analysis till 2028

 

Opioid Withdrawal Treatment Market

Market Overview

Market Research Future (MRFR) expects the Opioid Withdrawal Treatment Market to gain a decent CAGR of 10.1% from 2020 to 2027 (evaluation period).

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Primary Boosters and Challenges

The American Society of Addiction Medicine reveals that around 3 million Americans in 2015 battled addiction to opioid (either prescription painkillers or heroin). Over 60 percent of deaths that same year involved some type of opioid, suggests the Centers for Disease Control and Prevention studies. These numbers indicate the urgent need to bring down the number of overdose cases, ultimately fostering the demand for opioid withdrawal treatment. Opioids are also used for curing anxiety and depression, which are some of the most common mental health issues around the world. Currently, the primary focus is on curbing the wrongful use of opioids, and therefore, effective, and more innovative withdrawal treatment lines are increasingly being developed by government bodies, companies as well as the healthcare industry. Healthcare practitioners are now highly vocal regarding drug peddlers and trying to create more awareness among the youth which should foster significant market growth in the ensuing years.

Rehabilitation centers are progressively being set up across the globe for the treatment of individuals struggling with opioid withdrawal symptoms. More and more patients are opting for these rehab centers to quit opioids, which could be a major growth booster in the global market. Moreover, the need to create a balanced life for every section of the society has fostered the demand for the opioid withdrawal treatment market. Other growth rendering factors include technological innovations in the diagnostics sector, soaring awareness among patients about the available treatment options and the surge in treatment rates as well as improving healthcare infrastructure.

Market Segmentation

To present a detailed outline of the global opioid withdrawal treatment industry, MRFR report has profiled a few key segments, namely drug type as well as distribution channel.

The major drug types considered in the report are anti-nausea medications, nonsteroidal anti-inflammatory drugs, natural sleep supplements, analgesics, and others.

With respect to distribution channel, the global market can be considered for retail pharmacies, online stores, and hospital pharmacy. The lead has been secured by the hospital pharmacies segment, since hospitals note significant number of patient visits compared to other healthcare facilities. As a result, maximum sales of opioid withdrawal drugs take place at hospital pharmacies, especially given the availability of a prescription by the doctor.

Eminent Firms

Merck & Co., Teva Pharmaceutical Industries Ltd, Pfizer Inc., Novartis, Sanofi, Johnson & Johnson Services, Hoffmann-La Roche Ltd, Bayer AG, are some of the most eminent vendors in the global market for opioid withdrawal treatment.

Regional Status  

Asia Pacific/APAC, Americas, MEA or Middle East & Africa and Europe are the primary markets for opioid withdrawal treatment worldwide.

The Americas is spearheading the global market, in view of the soaring number of drug awareness campaigns as well as prevention programs. These campaigns cover spreading awareness among patients to boost the treatment-seeking rate. Rising government intervention with significant funds and initiatives to control distribution of illicit drugs and other substances also favor the regional market. Other growth enhancing factors include burgeoning population of substance abusers, the surge in technical advancements and the expanding geriatric populace.

Asia Pacific shows the potential to attain the fastest growth rate in the years to come, thanks to the growing efforts by several countries to deal with mounting concerns regarding drug and alcohol abuse. Moreover, government across various countries are spending considerably on promotional campaigns to prevent and treat addiction. The rise in technical advances also elevate the market position in the region. Opioid abuse is significantly rampant in the region, especially among the lower-class population while mental health issues have become major concerns. This is bound to create a lucrative scenario for the opioid withdrawal treatment market in the following years. Also, given the lower clinical trials costs, global companies are focusing on setting up their manufacturing bases in Singapore, Japan, China, Australia and Korea, which could mean substantial revenue generation in the near future.

Latest News

·         March 2021

Atai Life Sciences and DemeRx have received the go ahead from the UK Medicines and Healthcare products Regulatory Agency/MHRA to start enrolling for their Phase I and II analysis of ibogaine HCl, for treating opioid use disorder. Atai Life Sciences has spent around USD 22 million in this joint venture for developing the psychedelic, which has been proven to be effective and efficacious for the treatment of OUD.

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About US:

Market Research Future (MRFR) enable customers to unravel the complexity of various industries through Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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New York 10013

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