Opioid Withdrawal Treatment Market To Grow At A Fast Pace Due To High Emerging Demand, Future Scope and Forecast to 2030

 

The global Opioid Withdrawal Treatment Market will rise to USD 2.61 billion by the end of the year 2030. The market valuation will grow at the CAGR rate of 10.1% over the upcoming period.  The global opioid withdrawal treatment market is mainly driven by the growing opioid epidemic in North America and Europe and the increasing awareness about various treatments that can be taken to reduce opioid withdrawal symptoms. The high alertness in the U.S. and Europe with regard to the overuse of prescribed opioid drugs is likely to remain a major driver for the opioid withdrawal treatment market over the forecast period. The growing healthcare industry and the growing prescription of opioid drugs in these regions is likely to remain a key driver for the opioid withdrawal treatment market over the forecast period.

Opioids are usually prescribed for pain management and have become a widely popular class of medications due to the absence of synthetic classes of drugs to perform the same task. Usually, the healthcare industry uses a natural compound as a platform for further variations and comes up with synthetic drug formulations. However, the industry has been unable to do that with regard to opioid drugs, as mimicking the analgesic effects of natural opioids has proved too difficult. This has driven prescription figures for opioids and is likely to remain a major driver for the opioid withdrawal treatment market over the forecast period.

Competitive Analysis:

Leading players in the global opioid withdrawal treatment market include Bayer AG, F. Hoffman-La Roche Ltd., Johnson & Johnson Services, Sanofi, Novartis, Pfizer Inc., Teva Pharmaceutical Industries Ltd., and Merck & Co.

Segmentation:

The global opioid withdrawal treatment market has been segmented on the basis of drug type, distribution channel, and region.

·         By drug type, the opioid withdrawal treatment market has been segmented into nonsteroidal anti-inflammatory drugs, anti-nausea medications, analgesics, natural sleep supplements, and others.

·         On the basis of distribution channel, the market has been segmented into hospital pharmacy, retail pharmacies, and online stores.

Regional Analysis:

The Americas is likely to remain the leading regional market for opioid withdrawal treatments over the forecast period due to the growing demand for opioid withdrawal treatments in the region. According to the CDC, two thirds of the deaths attributed to drug overdoses in the U.S. in 2016 involved an opioid. This is the major driver for the opioid withdrawal treatment market in North America, as the increasing awareness about the involvement of opioids in drug overdose cases is likely to be a major driver for the opioid withdrawal treatment market over the forecast period. Increasing awareness about NSAIDs and analgesics is likely to be a major driver for the Americas market for opioid withdrawal treatment market in the Americas over the forecast period.

Increasing development of other pain management medications in North America is also likely to be a major driver for the opioid withdrawal treatment market in North America over the forecast period. The major growth driver for the opioid withdrawal treatment market has been the absence of other classes of pain medications to deal with the pain problem without using opioids. Mankind’s dependence on opioids has thus resulted in a growing demand for the development of other pain medication classes, which can deliver comparable relief without using opiates. North America is likely to be a major center for the development of these drugs in the coming years, leading to a growing demand from the opioid withdrawal treatment market over the forecast period.

Europe accounts for the second largest market for opioid withdrawal treatments and is likely to retain a considerable share in the global opioid withdrawal treatment market over the forecast period.

Industry News-

·         In August 2019, Boston Medical Center researchers found the use of naltrexone to be favorable for both mother and child when treating opioid use disorders in pregnant women.

·         In 2019, Continuum Recovery Center developed the first FDA-approved medical device for clients struggling with opioid dependency. The device is the first non-pharmaceutical, non-implantable device in the market space.

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https://famenest.com/read-blog/20891

 

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