The opioid use disorder therapy market is predicted to generate sales of US$ 8.4 billion by 2033, growing at a compound annual growth rate (CAGR) of 10.5% from its projected impressive US$ 3.07 billion in 2023. Drug makers, providers of drug abuse therapy, and owners of drug stores all have the common goal of educating the public about the horrible consequences of drug addiction and the significance of receiving abuse treatment.

This increase their customer pool which directly aids in market expansion of Opioid use disorder treatment. Growing awareness through television advertisements, newspapers, information brochures, and other media are proving to be very effective in impeding the opioid abuse crisis to a certain extent.

Unleash the extraordinary. Claim your sample for unmatched efficiency:
https://www.futuremarketinsights.com/reports/sample/rep-gb-16561

There are various organizations that are participating with other organizations that is leading to industry’s expansion. For example, in March 2016, GlaxoSmithKline collaborated with 2morrow Inc., developer of SmartQuit app to supply patches to smokers having the app plan. Similarly, In August 2013, the company agreed to distribute its Buprenorphine HCl and Naloxone HCl Dihydrate Sublingual Tablets (CIII), a generic version of Suboxon with Amneal Pharmaceuticals LLC , to the addiction treatment centers. This will benefit the market in the long-term.

On the other hand, addiction crisis over the past decade has driven the need to invest in integrated research and development activities which focus on addiction treatment and the recovery process. Even though the number of research activities pertaining to issues related to Opioid use disorder has increased at an impressive pace, stakeholders operating in the current treatment market landscape are progressively finding new methods to apply these findings into the real-world care delivery. This is expected to fuel market’s growth in the forthcoming period.

Some of the other factors propelling growth in this market include rising prevalence of diseases that cause chronic pain, such as cancer, lower back pain arthritis, fibromyalgia and postsurgical pain, interest toward extended-release formulations from the immediate release of opioids, and increasing focus on the abuse-deterrent formulation (ADF) by generic manufacturers.

In addition, in countries such as the United Kingdom, the National Health Service runs various public and privately funded programs for treatment of Opioid use disorder. Moreover, several companies adopt the strategies of merger and acquisition to bolster their market presence in new geographies or add new products and services or both to existing platforms, which helps the industry to grow. For example, in December 2015, Acadia Healthcare acquired Priory Group, a leading provider of behavioural care services in the United Kingdom. This acquisition was intended to expand Acadia Healthcare’s capacity and geographic presence in the United Kingdom which would help in growing overall market of Opioid use disorder treatment.

However, rising expenditure required for the diverse treatment processes is challenging market growth. Several market players make huge investments in manufacturing new and medically advanced treatment procedures to boost the recovery process, and in return, it increases treatment cost which then hamper the growth of industry.

Key Takeaways:

• North America is expected to dominate the industry while reaching market share of around 48% by the end of the forecast period.
• The market in East Asia is projected to reflect fastest CAGR of 8.8% during the projected timeline.
• By drug class, Buprenorphine is projected to account for 81.4% market share by end of the forecast period.
• Hospitals are expected to dominate the market by distribution channel, with a market share of 35% by 2033.

“Rising collaborations and mergers between companies, increasing research and development activities and adoption of technological advanced techniques for treating Opioid disorder will drive the industry’s growth,” comments an FMI analyst

Competitive Landscape

The Opioid use disorder treatment Market is competitive and consists of several major players. Major players are creating novel delivery systems for the treatment of opioid use disorder. This is expected to propel Opioid use disorder treatment market. The major players in the market are: Trevena, Opiate Pharmaceutical, Aphios, Kyowa kirin, Gamida-Cell, Novartis, Titan Pharmaceuticals, Inc., Hikma Pharmaceuticals, MediciNova, Alkermes, Inc., BioDelivery Sciences International, Inc.

Some recent developments in the market are:

• In January 2022, Trevena, Inc. declared that China’s National Medical Products Administration (NMPA) has accepted the submission of a New Drug Application (NDA) for OLINVYK (oliceridine) injection, a novel IV analgesic that has been approved in the United States by the FDA for use in adults for managing acute pain severe enough to require an intravenous opioid analgesic.
• In October 2021, Esteve Pharmaceuticals received authorisation from the United States Food and Drug Administration (FDA) for SEGLENTIS (celecoxib and tramadol hydrochloride) for the management of acute pain in adults that is extreme enough to require an opioid analgesic.
• In January 2020, Titan Pharmaceuticals, Inc. made a revelation that they had entered into an agreement with AllianceRx Walgreens Prime for the expansion of accessibility of patients for Titan’s opioid use disorder implant branded as “Probuphine implant”.