Opioid Agonist Drugs Treatment is fastest growing segment fueling the growth of Opioids Agonist Drugs Market


 Opioid agonist drugs are used for the treatment of opioid addiction by providing an opioid agonist like methadone or buprenorphine to relieve withdrawal symptoms without producing euphoria. These drugs are used to treat opioid use disorder by reducing opioid cravings and relieving withdrawal symptoms. The global Opioids Agonist Drugs Market is estimated to be valued at US$ 17,132.5 Mn in 2023 and is expected to exhibit a CAGR of 4.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Increasing prevalence of opioid addiction is driving the growth of the market. According to the National Institute on Drug Abuse, an estimated 1.6 million people had an opioid use disorder related to prescription pain relievers in 2016. In addition, the increasing funding from public and private organizations for the development of novel opioid agonist drugs is also fueling the market growth. For instance, in January 2019, the National Institute on Drug Abuse (NIDA) awarded USD 23.4 million in grants to support research on opioid addiction treatment and prevention. Furthermore, growing awareness about opioid addiction treatment options is creating growth opportunities for opioid agonist drugs market.
Segment Analysis
The global opioids agonist drugs market is segmented based on products, application, and region. Based on products, the market is segmented into codeine, fentanyl, meperidine, methadone, morphine, hydrocodone, oxycodone, hydromorphone and others. Among these, the oxycodone segment dominates the market and accounts for the largest revenue share owing to its high usage for treating moderate to severe pain. Oxycodone is an opioid analgesic medication used to relieve moderate to severe pain.

Key Takeaways
The global opioids agonist drugs market is expected to witness high growth, exhibiting CAGR of 4.2% over the forecast period, due to increasing prevalence of cancer and chronic conditions.

Regional analysis
North America dominates the global opioids agonist drugs market and is expected to continue its dominance over the forecast period. This is mainly attributed to increasing prevalence of chronic diseases and cancer in the region. Europe accounts for the second-largest market share owing to growing awareness regarding management of pain.

Key players
Key players operating in the opioids agonist drugs market are Advaxis, Inc., Cellectar Biosciences, Inc., OPKO Health, Inc., Pfizer Inc., Amgen Inc., Novartis AG, Eli Lilly and Company, Debiopharm Group, Merck & Co, Bayer AG, Bristol-Myers Squibb Company, Takeda Pharmaceutical, F. Hoffmann-La Roche Ltd and Teva Pharmaceutical.

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