Get more insights on Opioid Use Disorder Market
Opioid Use Disorder Treatment Market is driven by Increasing Opioid Addiction Prevalence
The opioid use disorder treatment market consists of medication-assisted treatment (MAT) such as buprenorphine and methadone and extended-release injection treatment. These treatments are aimed at managing withdrawal symptoms, reducing opioid abuse related harms and decreasing the desire to use opioids. MAT has shown to improve treatment retention and reduce the use of illicit opioids.
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 between 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, Maxon Group, Bevone, Danaher Corporation, Kollmorgen, TE Connectivity, ALXION, Micronor, Elmo Motion Control, Electro-Sensors, Siko GmbH. The increasing prevalence of opioid addiction across developed and developing nations is driving the demand for opioid use disorder treatment. According to National Institute of Drug Abuse, over 14 million people suffered from opioid addiction in the United States in 2018. Furthermore, growing awareness regarding opioid use disorder treatment options is also fueling the market growth.
The global expansion of key players in the Opioid Use Disorder Market Growth through acquisitions and partnerships is further augmenting the market growth. For instance, in 2019, Indivior expanded its buprenorphine-based treatments for opioid addiction to over 50 countries through strategic partnerships. Additionally, increasing government initiatives to curb opioid addiction such as improving access to treatment and reducing stigma associated with opioid use disorder are further propelling the market growth globally.
Market drivers
The increasing prevalence of opioid addiction is one of the key drivers of the opioid use disorder treatment market. According to National Institute of Drug Abuse, over 14 million people suffered from opioid addiction in the United States in 2018. Easy availability of prescription pain medications and prevalence of misuse and abuse of these medications have led to rising number of overdose deaths in the United States, which further fuels the demand for effective opioid addiction treatment medications. Additionally, government policies and initiatives aimed at improving access to opioid use disorder treatments especially in developing nations is expected to aid the market growth over the forecast period from 2024 to 2031.
Impact of geopolitical situation on the growth of Opioid Use Disorder Market
The current geopolitical tensions globally are expected to have an impact on the growth of the opioid use disorder market. The ongoing Russia-Ukraine conflict and rising political instability in several other parts of the world is leading to increased stress and anxiety levels in the general population. This is likely to drive up the demand for treatment options for opioid use disorder. At the same time, supply chain disruptions caused by the geopolitical issues may temporarily hamper the easy availability of opioid use disorder drugs in some countries. The manufacturers will need to closely monitor the geopolitical developments and modify their supply chain strategies accordingly to ensure a steady supply of treatments. Overall, while the market is expected to grow at a robust rate due to the rising opioid addiction rates worldwide, the true impact of the geopolitical conflicts may be difficult to ascertain in the short term.
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