Opioid Use Disorder Market Is Booming Worldwide 2021-2028 | Indivior PLC, Alkermes, Orexo AB, Titan Pharmaceuticals

Opioids are naturally or synthetically made in laboratories to mimic the chemical properties of opioids that interact with opioid receptors on the nerve cells in the body and brain and reduce pain. They are a class of drugs that include prescription pain relievers, synthetic opioids, and . Prescription opioids are meant to be used to treat acute pain such as recovering from injury or post-surgery, chronic pain, active-phase cancer treatment, palliative care, and end-of-life care. Many people rely on prescription opioids to help manage their conditions under the care of a physician. Opioid use disorder is a chronic lifelong disorder, with serious potential consequences including disability, relapses, and death.

The global opioid use disorder market is estimated to be valued at US$ 2,739.2 million in 2021 and is expected to exhibit a CAGR of 8.7% over the forecast period (2021-2028)

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Increasing usage of buprenorphine patches as an effective treatment option for opioid use disorder is anticipated to drive the market growth over the forecast period

One of the upcoming trends witnessed in the global market in treating opioid addiction is the increasing usage of buprenorphine patches as an effective therapy for opioid use disorder. Buprenorphine patches are considered to be a novel approach for the treatment of opioid use disorder. The usage of transdermal patches has various advantages over other treatment modes such as injections as it is the most comfortable mode of drug delivery, which effectively reduces the pain and can be self-administered by the patient. Moreover, these buprenorphine patches can act as a potential alternative for patients requiring instant therapy for opioid use disorder.

For instance, in April 2020, WellSpan Health, a U.S.-based healthcare company, collaborated with York Opioid Collaborative, a public health and safety organizations, to establish a clinical trial and reached phase IV in the development of Lidocaine patch for the indication of opioid use disorder. This is expected to boost the adoption of treatment on a broader scale.

Increasing cases of opioid addiction is expected to drive the market growth over the forecast period

Rising number of patient population suffer from a wide range of severe and chronic diseases, such as cancer, cardiovascular disease, pain arising from injuries, and other conditions. These diseases often cause chronic pain that are managed with the consumption of painkillers, mostly opioids. While the pain reduces, there is a greater chance that the patient may get addicted to these drugs. The rising dependency of these drugs and abrupt discontinuation may lead to the patient suffering from withdrawal symptoms.

For instance, according to the World Health Organization’s report, about 0.5 million deaths are attributable to drug use globally. More than 70% of these deaths are related to opioids, with more than 30% of those deaths caused by overdose in 2020.

According to the Centre for Disease Control and Prevention report, opioids were involved in 49,860 overdose deaths in 2019 (70.6% of all drug overdose deaths) in the U.S.

Furthermore, according to the article published in the National Center for Biotechnology Information in July 2018, India has twice the global average prevalence of illicit consumption. It is estimated that, India has about 4 million people who use opioids and around 1 million people who are opioid dependent in 2018.

Global Opioid Use Disorder Market – Impact of Coronavirus (Covid-19) Pandemic

The coronavirus pandemic has a varied impact on the pharmaceutical market, ranging from positive to negative, based on the demand. There has been a negative impact on certain medication, owing to a decline in their demand due to the lack of visits to the healthcare facilities such as hospitals and clinics. Furthermore, to decrease the number of coronavirus cases, several governments have implemented strict nationwide lockdown. This has led to sharp decline in the flow of patients across hospital settings. Moreover, the cancellation or postponement of non-essential medical procedures has further led to a negative impact on market growth.

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However, the prominent companies engaged in the opioid use disorder market, such as Indivior PLC, experienced an overall decline in its product revenues during the pandemic. Thus, rapid decline in sales has occurred due to COVID-19 related disruption such as lockdown, lack of transportation, and others. Thus, the global opioid use disorder market is expected to experience a negative impact.

Major Players Are Operating In This Market Are: Indivior PLC, Alkermes, Orexo AB, Titan Pharmaceuticals, Inc., Teva Pharmaceutical Industries Ltd., Mallinckrodt Pharmaceuticals, BioDelivery Sciences International Inc., Viatris Inc., Pfizer, Inc., Hikma Pharmaceuticals PLC, and Camurus

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