Opioid Dependence Treatment Market Trends
Growth Drivers
- Increasing Number of Cases of Opioid Abuse and Addictions Among People Worldwide – A large amount population is seen suffering from severe or chronic illness nowadays. These patients do intake opioid drugs as a painkiller post their treatment. In many cases, this drug consumption becomes their addiction. According to a survey conducted by the National Drug Dependence Treatment Centre in India and released in February 2019, 3% of Indians are now using opioids, and 0.5% of them are projected to need assistance with their opioid dependence.
- Favorable Reimbursements for Smoking Cessation Therapy – Supportive reimbursement for smoking cessation therapy is anticipated to drive the growth of the market in the forecast period. Affordable reimbursement for smoking cessation treatment will help ensure that people on opioid addiction treatment have access to the support they need to quit. In many countries, health insurance companies can pay for smoking cessation treatment and counseling for people being treated for opioid dependence. For instance, in the United States, both Medicare and Medicaid cover the cost of smoking cessation counseling and medication for qualified individuals. Â
- Growing Government Initiatives –The government authorities of various regions across the globe time and again have identified the need for the opioid crisis and have adopted multiple initiatives and programs to promote opioid dependency treatment all over the world. In March 2022, HHS announced funding for substance dependence treatment and prevention programs to expand access to medication-assisted treatment for opioid dependence and prevent misutilization of painkillers.
- Increasing Healthcare Expenditure - Rising healthcare spending, especially in developed countries, is expected to drive the market growth of the opioid addiction treatment market. According to the World Health Organization (WHO), global healthcare spending is expected to reach USD18.28 trillion by 2040, with developed countries accounting for the majority of this spending. This may increase the demand for effective opioid addiction treatment options. Â
Challenges
- Side Effects of Opioid Use Disorder Drugs – Vomiting, bladder pain, abdominal cramps, breathing complications, and diarrhea are some of the side effects of opioid use disorder drugs. And these side effects can pose a limitation on the growth of this market in the upcoming times.
- High Cost of Treatment
- Legal and Regulatory Challenges
Opioid Dependence Treatment Market: Key Insights
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
9.4% |
|
Base Year Market Size (2024) |
USD 3.61 billion |
|
Forecast Year Market Size (2037) |
USD 11.61 billion |
|
Regional Scope |
|
