Implicit in proper pricing is that it'd be legal and easy to use.
Which issues are you thinking about?
>opiates have little side effects outside of respiration depression and constipation
Maybe with proper dosage and medical supervision, maybe. But I think the biggest side effects of regular opiate abuse are addiction and a loss of productivity. I don't think those effects can be discounted. The biggest "waking" factor I have heard ex-junkies state as why they wanted to sober up were "I was killing my family", "I was killing myself", and "it was only a matter of time before it killed me or I killed someone for it".
That said, clean equipment certainly helps solve some of the issues, as infections are extremely common with intravenous users.
>I killed someone for it
I can't see how this is anything but a pricing/accessibility issue. Otherwise there's just no incentive -- it's about as expensive a habit as alcohol if bought legally.