Latest News by Industry
DUBLIN--(BUSINESS WIRE)--Nov 10, 2022--
The "Opioid Use Disorder Market By Drug Type, By Age group, By Route of Administration, By Distribution channel: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The global opioid use disorder market was valued at $196.2 million in 2021, and is projected to reach $385.8 million by 2031, registering a CAGR of 7.1% from 2022 to 2031.
Opioid is a class of pain relievers that includes substances, which relax muscles and alleviate pain & stress. Prescription opioids are used to treat moderate-to-severe pain such as hydrocodone, oxycodone, codeine, fentanyl, methadone, morphine, and other pharmaceutical opioids. Opioid usage disorder (OUD) is a chronic, relapsing brain disorder that is characterized by obsessive opioid seeking and use despite negative effects.
Opioids use disorder is regarded as brain disorder because it involves functional alterations to brain circuits involved in motivation, stress, self-control, and decision-making, and those changes may persist for a long period after drug use has stopped. Opioid use disorder consists of an overpowering desire to use opioids, increased opioid tolerance, and withdrawal syndrome when discontinued.
The opioids use disorder market is driven by increase in number of patients suffering from wide range of severe and chronic diseases such as cancer, cardiovascular disease, pain arising from injuries and other conditions. For instance, according to World Cancer Research Fund International, in 2020, around 18,094,716 new cancer cases diagnosed over the globe. As per the same source Breast and lung cancers were the most common cancers worldwide, 2,261,419 breast cancer and 2,206,771 lung cancer new cases diagnosed over the globe.
Thus, rise in number of cancer cases cause increase in incidence of surgeries. Surge in number of surgical procedures cause rise in use of opioid drugs to relieve post-surgical pain. Therefore, this factor can cause addiction of opioid drugs in patients. Thus, this factor is anticipated to drive the growth of opioids use disorder market.
Moreover, according to the Journal of JAMA Netw Open, in December 2021, around 5. 9 million population were reported to have undergone surgical procedure in the Rest of LAMEA In addition, according to Canadian Joint Replacement Registry (CJRR), approximately more than 75,000 knee replacement and 63,000 hip replacement surgeries were performed in the Canada from 2019 to 2020. As per the same source the knee and hip replacement surgery is the second most common surgery in Canada. This report also states 2.4% increase in the hip replacement surgery from 2019 to 2020.
In addition, increase in consideration of buprenorphine patches as an effective treatment mode to propel opioids use disorder market growth. The increase in use of buprenorphine patches as a successful treatment for opioid use disorder is one of the anticipated trends in the global market for treating opioid addiction. The use of buprenorphine patches is regarded as a cutting-edge strategy for treating opioid use disorder. Transdermal patches are a more pleasant drug delivery method that successfully lowers pain and can be self-administered by the patient than conventional therapy modalities such as injections.
These buprenorphine patches can also serve as a potential substitute for people who need immediate treatment for opioid use disorder. In addition, governments globally have increased the expenditure on the healthcare sector.
Key Benefits
Key Market Players
Key Market Segments
By Drug Type
By Age group
By Route of Administration
By Distribution channal
By Region
For more information about this report visit https://www.researchandmarkets.com/r/4mlshh
View source version on businesswire.com:https://www.businesswire.com/news/home/20221110005768/en/
CONTACT: ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
KEYWORD:
INDUSTRY KEYWORD: HEALTH PHARMACEUTICAL
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 11/10/2022 10:00 AM/DISC: 11/10/2022 10:02 AM
http://www.businesswire.com/news/home/20221110005768/en