Research Nester released a report titled “Medical Devices Used for Opioid Use Disorder and Drug Addiction Treatment Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global medical devices used for opioid use disorder and drug addiction treatment market in terms of market segmentation by product and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The market for medical devices used for opioid use disorder and drug addiction treatment is projected to grow by a significant CAGR of 16.86% during the forecast period, i.e., 2020-2027. It is anticipated to reach a market value of USD 21.85 million by the end of 2027. These medical devices can be broadly classified into wearable devices and non-wearable devices. Currently, there are a limited number of manufacturers having FDA approved medical devices for sale in the market. The market is segmented on the basis of product into wearable devices and non-wearable devices. The segment for wearable devices is estimated to hold the largest share in the market as a result of rising availability of wearable devices. The wearable devices segment is anticipated to attain a market size of USD 19.79 million by 2027. In addition to this, the high demand for wearable devices as a result of their convenience to use is another factor contributing towards the large share and high growth rate of wearable devices segment in the market.
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On the basis of region, the medical devices used for opioid use disorder and drug addiction treatment market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East and South Africa. The market in North America is projected to hold the leading share by 2027. In addition to this, the highest growth is predicted to be observed by the market in North America with a CAGR of 18.48% over the forecast period. This can be attributed to the presence of leading companies in the region as well as generation of maximum revenue from these medical devices in the United States. In Asia Pacific, the market is predicted to grow on account of growing research and development taking place in the region.
Growing Business Opportunities Prevalent in the Market to Boost Market Growth
On the back of small market, the market for medical devices used for opioid use disorder and drug addiction treatment is anticipated to present significant growth opportunities for business all across the world. This can be attributed to the various ongoing research and developments in medical devices for drug addiction treatment. Moreover, the high effectiveness and much lower side effects of medical devices another growth factor predicted to increase the demand in the market over the coming years. However, the high cost of the products and lack of awareness about medical devices for drug addiction treatment are estimated to restrict the market growth over the coming years.
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This report also provides the existing competitive scenario of some of the key players of the global medical devices used for opioid use disorder and drug addiction market which includes company profiling of DyAnsys Inc., Innovative Health Solutions Inc., SPARK BIOMEDICAL, INC, Brainsway, EvON Medics and Pear Therapeutics, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global medical devices used for opioid use disorder and drug addiction market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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