A paradigm shift is unfolding in the global health sector as the 7MM Opioid Withdrawal Syndrome (OWS) Market witnesses a notable surge. The market, previously valued at USD 1,068.3 Million in 2021, is projected to reach a staggering USD 2,633.4 Million by 2030.
This significant growth, encapsulated by a Compound Annual Growth Rate (CAGR) of 10.4%, is primarily fueled by the increasing instances of opioid addiction and ongoing clinical trials.
Opioid Withdrawal Syndrome: An Escalating Concern
OWS arises when there is a cessation or reduction in heavy or prolonged opioid consumption, leading to symptoms such as anxiety, nausea, and increased heart rate. Such an upswing in OWS cases has resulted in an increased demand for effective treatments, propelling the market forward. However, the market growth is potentially hindered by the adverse effects associated with opioids.
Market Segmentation and Key Players
The report segments the market based on therapy, including Lucemyra (Lofexidine), Methadone, Buprenorphine, Naltrexone, and others. Notably, Buprenorphine is expected to hold a significant market share due to its effectiveness in low doses. The market spans across the U.S., EU5 (UK, Germany, France, Italy, Spain), and Japan. The U.S. is projected to have a higher CAGR than the overall market, attributed to the increasing opioid addiction and a rise in opioid use for pain management.
Regional Overview and Emerging Therapies
In the EU5, France and Spain are noteworthy for their market size and share, respectively, while Japan is highlighted for its growth in Naltrexone usage. The report also discusses the competitive landscape, key players, emerging therapies, and the impact of COVID-19 on market dynamics. It further explores treatment guidelines and unmet needs in the OWS market, offering invaluable insights into future technologies and R&D activities.
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