Opioid use disorder market to hit $4.8 billion by 2027, says GlobalData
pharmafile | November 26, 2018 | News story | Sales and Marketing | US, opioid crisis, opioids, pharma
New findings released by analytics firm GlobalData indicates that the market for opioid use disorder therapies is set to grow to reach $4.8 billion by 2027, up from $3 billion a decade earlier in 2017 at a compound annual growth rate (CAGR) of 10.3%.
The US is still suffering under the cloud of the opioid epidemic, and according to GlobalData’s report, it is this cloud that accounts for 88.8% of the total global market for therapies to treat opioid use disorders. The US Government’s move to introduce policies to curb the crisis, as well as the launch of four late-stage pipieline products, are expected to act as the key drivers to the projected growth.
“There are two distinct strategies in the pipeline, and they can be neatly divided into late stage strategy and early stage strategies,” explained Maura Musciacco, Director of Neurology and Ophthalmology at GlobalData. “The late stage focuses on reformulations of currently marketed drugs, so the route of administration is more favourable to patients. In contrast, the early stage strategies focus on novel mechanisms of action, aimed at targeting the root cause of addiction.”
She continued: “Moving forward, the unmet needs are likely to only be partially met in the OUD market; even if policies and training are properly structured and implemented results are only expected to be seen over the long term. In order for these initiatives to be most successful they will need a collaborative effort between pharmaceutical companies, the government, and healthcare providers.”
Matt Fellows
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