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Opioid Withdrawal Treatment Market to Incur High Value Growth at 10.1% CAGR During 2019-2025
Global Opioid Withdrawal Treatment Market Research Report: Information by Drug Type (Nonsteroidal Anti-Inflammatory Drugs, Anti-Nausea Medications, Analgesics, Natural Sleep Supplements), Distribution Channel (Hospital Pharmacy, Retail Pharmacies, Online Stores) and Region (Americas, Europe, Asia-Pacific, Middle East & Africa) - Forecast till 2025
Market Research Future has Published a Half-Cooked Research Report on the Global Opioid Withdrawal Treatment Market.
The global opioid withdrawal treatment market held a market value of USD 1.8 billion in 2018 and is projected to grow at a CAGR of 10.1% over the forecast period. Opioids are drugs such as heroin, opium, morphine, codeine, and methadone that are used in cases of severe, postsurgical, or chronic pain. In some cases, usage of opioids causes addiction, and Opioid withdrawal syndrome is a life-threatening condition resulting from opioid dependence. These drugs can also cause severe health problems and sometimes even result in overdose and loss of life. Hence this opioid dependence requires treatment, which is known as opioids withdrawal treatment.
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The global opioid withdrawal treatment market has been segmented into drug type and distribution channel.
By drug type, the market has been segmented into the 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.
Some of the prominent players in the global opioid withdrawal treatment market are Merck & Co., Teva Pharmaceutical Industries Ltd, Pfizer Inc., Novartis, Sanofi, Johnson & Johnson Services, F. Hoffmann-La Roche Ltd, and Bayer AG among others
On a regional basis, the Americas is anticipated to dominate the global opioid withdrawal treatment market owing to the owing to increasing geriatric population, high prevalence of various chronic diseases, and rising adoption of opioids for the management of pain.
According to the Substance Abuse and Mental Health Services Administration (SAMHSA) in the National Survey on Drug Use and Health (NSDUH), about 30.5 million Americans aged 12 or older were using illicit drugs in 2018. Additionally, rising demand for advanced treatment and growing healthcare expenditure is driving the growth of the market. For instance, according to the American College of Cardiology Foundation, coronary heart disease (CHD) is the leading cause of deaths attributable to CV in the US. CHD contributes to over 43.8% of death cases in the US. Additionally, in 2015, the total healthcare expenditure for CVD and stroke in the US was an estimated USD 329.7 billion. CVD and stroke accounted for 14% of total health expenditures in 2015.
Europe accounts for the second-largest market and holds a healthy share in the global opioid withdrawal treatment market due to major driving factors like availability of advanced treatment facilities, increasing healthcare expenditure, and flourishing pharmaceutical industry due to the presence of major market players.
Asia-Pacific is expected to be the fastest-growing market, owing to the huge patient pool, a faster adaptation of healthcare technology, government initiatives to increase the healthcare quality, and availability of favorable insurance policies.
The Middle East & Africa is expected to show the least growth in the market due to some major factors such as lack of awareness, limited access, and availability of treatment facilities. In the Middle East, the United Arab Emirates and Saudi Arabia is the largest market share owing to the development of the healthcare industry and the rising availability of specialty care centers.
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