With 8.9% CAGR, Opioid Use Disorder Market Size to Surpass USD 5.64 billion by 2029
North American market for OUD (opioid use disorder) was estimated to be worth USD 2.23 billion in 2021 and is expected to remain dominant during the forecast period. Europe is projected to hold the second position in the market, while the Asia Pacific region is expected to see the strongest growth, due to increasing awareness of OUD.
Pune, India, Feb. 01, 2023 (GLOBE NEWSWIRE) -- The global Opioid Use Disorder (OUD) market size was valued at USD 2.88 billion in 2021. The market is projected to grow from USD 3.11 billion in 2022 to USD 5.64 billion by 2029, exhibiting a CAGR of 8.9% during the forecast period.
North America market stood at USD 2.23 billion in 2021, and the region is anticipated to be dominant during the forecast period owing to the substantial number of individuals in the U.S. suffering from opioid dependency, presence of prominent players in the region, and the increasing involvement of the government in tackling the pandemic.
KEY INDUSTRY DEVELOPMENT
March 2022: Collegium Pharmaceutical, Inc. declared that it has successfully accomplished the acquisition of BioDelivery Sciences International Inc.
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REPORT SCOPE & SEGMENTATION
2022 to 2029
Forecast Period 2022 to 2029 CAGR
2029 Value Projection
USD 5.64 Billion
Opioid Use Disorder (OUD) Market Size in 2021
USD 2.88 Billion
2018 to 2020
No. of Pages
Drug Class, Route of Administration, Distribution Channel and Geography
The North America market stood at USD 2.23 billion in 2021
The opioid use disorder (OUD) market is growing due to the increasing prevalence of opioid addiction globally.
The market is highly consolidated with few major players dominating the industry, making it highly competitive.
Indivior PLC, Alkermes, and Orexo AB are some of the major players in the global market.
The buprenorphine segment is expected to lead this market during the forecast period.
Increasing Cases of Opioid Addiction to Drive the OUD Market Growth
A vast variety of severe and chronic diseases, such as cancer, cardiovascular disease, pain from injuries, and other ailments, affect the general population today. Patients with these disorders frequently have chronic pain, which is generally treated by taking medications, primarily opioids. While the pain diminishes, there is a higher possibility that the patient will become dependent on these drugs. The patient may have withdrawal symptoms as a result of their increasing dependence on these medications and abrupt termination.
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Buprenorphine Segment to Grow at a Faster Pace in Upcoming Years
Based on drug class, the market includes buprenorphine, methadone, and naltrexone. The buprenorphine segment accounted for the largest share of the market in 2020.
Parenteral Segment to Account for the Highest Market Share
Based on route of administration, the market is segmented into oral and parenteral.
The parenteral segment is projected to account for the highest Opioid Use Disorder (OUD) market share during the forecast period due to the availability of various types of OUD drugs in different dosages in the parenteral form.
Hospital Pharmacies Segment to Dominate Market
Based on distribution channel, the market can be segmented into retail pharmacies & stores, hospital pharmacies, and online pharmacies.
The hospital pharmacies segment is anticipated to account for a higher share in the global market.
Geographically, the market is divided into North America, Europe, Asia Pacific, and the Rest of the World.
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North America to Hold Lion’s Share Backed by the Presence of Key Players
North America, which had a market value of USD 2.23 billion in 2021, is expected to hold a commanding position during the forecast period due to the significant number of Americans who suffer from opioid dependency, the presence of major players in the region, and the growing involvement of the government in combating the pandemic.
According to projections, Europe will come in second in terms of the global market share. This can be attributed to the region's increased new product launches as well as the rise in patients with opioid dependence.
As a result of rising public awareness of Opioid Use Disorder (OUD), the Asia Pacific market is anticipated to grow at the fastest rate in the near future.
Acquisitions Initiated by Key Companies to Promote Market Growth
The leading Opioid Use Disorder (OUD) players in the market constantly opt for efficient strategies to bolster their brand value as well as promote the global market growth. One such efficient strategy is acquiring competitive companies and further securing a profit for both the companies.
List of Key Players Covered in the Report
Indivior PLC (U.S.)
Orexo AB (Sweden)
Titan Pharmaceuticals, Inc. (U.S.)
Mallinckrodt Pharmaceuticals (U.K.)
BioDelivery Sciences International Inc. (U.S.)
Viatris Inc. (Mylan N.V.) (U.S.)
Hikma Pharmaceuticals PLC (U.K.)
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TABLE OF CONTENT
Pipeline Analysis-Key Products
New Product Launches
Statistics of Opioid Use Disorder by Key Countries/Region
Industry Developments Such as Mergers, Acquisitions, and Collaborations
Impact of COVID-19 on Opioid Use Disorder (OUD) Market
Global Opioid Use Disorder (OUD) Market Analysis, Insights and Forecast, 2018-2029
Market Analysis, Insights and Forecast – By Drug Class
Market Analysis, Insights and Forecast – By Route of Administration
Market Analysis, Insights and Forecast – By Distribution Channel
Retail Pharmacies & Stores
Market Analysis, Insights and Forecast – By Region
Rest of the World
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