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.
The highest demand for medical devices is observed by Drug Relief by DyAnsys and NSS-2 BRIDGE by Innovative Health Solutions, Inc. (IHS).
They are both Class II medical devices with percutaneous electrical nerve field stimulator (PNFS) systems that reduce the symptoms of opioid withdrawal.
The market is segmented by product into wearable devices and non-wearable devices, out of which, the segment for wearable devices is anticipated to hold the leading share in the market as a result of increasing availability of wearable devices.
The wearable devices segment is anticipated to attain a higher market size of USD 19.79 million by 2027.
In addition to this, the high demand for wearable devices as they are easy to use is another factor contributing towards the large share of wearable devices segment in the market.
The medical devices used for opioid use disorder and drug addiction treatment market is segmented on the basis of region into North America, Europe, Asia Pacific, Latin America and Middle East and South Africa.
On the basis of region, the market in North America is anticipated to hold the leading share along with the highest growth, which 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.
Some of the key industry leaders in the global medical devices used for opioid use disorder and drug addiction treatment market are DyAnsys Inc., Innovative Health Solutions Inc., SPARK BIOMEDICAL, INC, Brainsway, EvON Medics and Pear Therapeutics, Inc.
- Innovative Health Solutions Inc.
- Spark Biomedical Inc.
- Brainsway Ltd.
- EvON Medics
- Pear Therapeutics Inc.
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