Opioid Withdrawal Management Market: Overview
The global market for opioid withdrawal management is expected to charge owing to growing stringency of regulations. For example, on 12 December 2006, the U.S. President signed the Bill H.R.6344, under which the physician holding rights to prescribe opioid would have to provide opioid dependence treatment to up to 100 patients (previously 30).
Medicare, Medicaid, and other government organizations pay or supplemented payments for opioid withdrawal management treatment in almost 80% of the population. Private health insurance supplements the remaining 30% of the population. Togeather they account for large market equity for the players operating in the opioid withdrawal management market. The market trends include a definite shift in favor of developing regions of Asia Pacific, such as India and China.
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Opioid Withdrawal Management Market: Drivers and Restraints
The explosive use of opioids for management of pain, opioid abuse resulting from illegal use coupled with the perverse incentives and misdirection by pharmaceutical pain management companies are the driving factors for the market.
The National Institute on Drug Abuse and the Centers for Disease Control and Prevention, have declared that the U.S. is in the midst of an opioid epidemic. U.S. consumes about 80% of global opioids although it has less than 5 % of the world’s population. Concerns about Opioid overdose related deaths which accounted for 49,000 of the 72,000 drug overdose deaths in the U.S. in 2017 alone has generated a lot of market enthusiasm. According to the center of disease control, around 66% of the more than 63,600 drug overdose deaths in 2016 involved an opioid and on average, 115 Americans die every day from an opioid overdose
This has resulted in a cry from the media resulting in growing stringency of regulations. According to the center of disease control, the sharpest increase among the 72,000 drug overdose deaths in 2017, were related to fentanyl and analogs at nearly 30,000. The development of withdrawal clinics and the growing success of opioid withdrawal treatment especially the development of non-opioid drugs for the treatment and mitigation of opioid withdrawal symptoms is driving a faster adoption. Work place policies such as zero tolerance policies for substance abuse, regular check-ups and screening is another driver of the market.
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Opioid withdrawal management Market: Regional Wise Outlook
The global opioid withdrawal management market can be classified into the following region: North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, Middle East and Africa. North America, led by the U.S., is expected to account for the largest share in the global opioid withdrawal management market, owing to the large use of opioids, large healthcare expenditure, and large per capita income in the region.
The Asia Pacific opioid withdrawal management market excluding Japan is projected to expand and dominate the scene in the near future, owing to the growing healthcare and detoxification clinics.
China and India are anticipated to account for the major share of the Asia Pacific opioid withdrawal management market growth. Germany, France and the U.K., are projected to be the largest drivers of the Europe opioid withdrawal management market. The Middle East and Africa Opioid withdrawal management market is anticipated to be dominated by the gulf economies of Saudi Arabia, Kuwait, UAE and Qatar.
Opioid Withdrawal Management Market: Market Participants
Some of the major vendors operating in the global opioid withdrawal management market are Alkermes, Inc., Orexo AB, Ethypharm, Indivior PLC, Mylan Pharmaceuticals Inc., Sun Pharmaceutical Industries, Inc., Teva Pharmaceuticals USA, Inc., Dr. Reddy’s Laboratories, Indivior PLC, BioDelivery Sciences International , Inc., Rhodes Pharmaceuticals L.P., Hikma Pharmaceuticals USA Inc., Actavis Elizabeth LLC, Mallinckrodt Pharmaceuticals and others.
The global opioid withdrawal management report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Opioid Withdrawal Management Market: Segmentation
To gain a bird’s eye view of the global opioid withdrawal management market, the report is segmented on the basis of material of construction, application area, distribution channels and region.
Based on the drugs, the global opioid withdrawal management market can be segmented as,
- Opioid Agonists
- Opioid Antagonists
- Antidepressants
- Anxiolytics
- Anticonvulsant
- Others
Based on the end users, the global opioid withdrawal management market can be segmented as,
- Hospitals
- Clinics
- Home Settings
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