Opioid Use Disorder Market Size is Projected to Register 10.1% CAGR till 2026

The global Opioid Use Disorder Market size is expected to reach USD 4.5 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 10.1% over the forecast period. Rising opioid epidemic and growing government initiatives to combat the crisis are likely to propel market growth. In addition, growing commercialization of novel products is further anticipated to drive growth. In 2018, about 2.9 million people aged 15 or above were suffering from this disorder in the U.S. In 2016, according to the National Survey on Drug Use and Health (NSDUH), in the U.S., around 11.5 million people had abused prescription opioids in the earlier year and more than 2 million were addicted to prescribed drugs.

According to the CDC, around 130 Americans die every day due to the opioid overdose and the U.S. government has designated this as a public health emergency.For patients wanting to overcome their addiction, adherence to a Medication-assisted Treatment (MAT) can reduce the withdrawal symptoms and cut the risk of death by half. Three U.S. FDA-approved MAT options are buprenorphine, methadone, and naltrexone. They are available in numerous dosages and formulations, with daily oral buprenorphine as the standard of care.

To combat the opioid crisis, several measures have been undertaken in recent years. For instance, in 2016, CDC clinical practice guidelines for prescribing these drugs for chronic pain were issued and new American Society of Addiction Medicine (ASAM) National Practice Guidelines was adopted in 2015 to improve standard of care. Furthermore, in 2016, the U.S. FDA announced plans to overhaul its regulations for abuse-deterrent opioids, enhance safety labeling, and re-examine the risk-benefit paradigm of their use.

Browse Details of Report @
https://www.grandviewresearch.com/industry-analysis/opioid-use-disorder-market

Further key findings from the report suggest:

• Buprenorphine was the largest revenue generating segment in 2018. Its sublingual tablets and branded drug Suboxone are the most widely prescribed drug for OUD
• Suboxone is the highest prescribed drug in the OUD market, mostly due to its excellent clinical profile
• Sublocade, a buprenorphine product, is estimated to be the largest and fastest growing product over the forecast period, as it is the first long-acting buprenorphine and the first once-monthly product
• North America generated the highest revenue in 2018, followed by Europe
• Some of the major players in the opioid use disorder market include are Indivior, Alkermes, Titan Pharmaceuticals, Hikma Pharmaceuticals, Teva Pharmaceuticals, MediciNova, Orexo, Camurus, and Omeros
• The key players are adopting strategies such as mergers and acquisitions, product development, product extension, and regional expansion to increase their market share
• In 2018, Orexo AB announced that it obtained the rights to commercialize Zubsolv in all the territories outside the U.S. from its current partner Mundipharma

 About Us:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

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