Global Opioids Market, By Drug Class (Short-acting Opioid, Long-acting Opioid), Application (Pain Relief, Anesthesia, Cough Suppression, Diarrhea Suppression, Others), End-Users (Hospitals, Homecare, Speciality Centres, Others), Distribution Channel (Hospital Pharmacy, Online Pharmacy, Retail Pharmacy) – Industry Trends and Forecast to 2029.
Opioids Market Analysis and Size
The global opioids market is expected to witness significant growth during the forecast period. The U.S. FDA is strictly regulating the market because of a substantial number of drug-abuse deaths registered in the country. According to reliable estimates, chronic pain affects closely 10% of the global population, with estimates of the same closer to 20-25% in some regions and countries. Approximately 1 in 10 people suffer from chronic pain every year worldwide.
Data Bridge Market Research analyses a growth rate in the opioids market in the forecast period 2022-2029. The expected CAGR of opioids market is tend to be around 3.50% in the mentioned forecast period. The market was valued at USD 23 billion in 2021, and it would grow upto USD 30.29 billion by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Market Definition
Opioids, also termed pain-relieving drugs, are the class of psychoactive drugs that acts on opioid receptors present on nerve cells in the brain, spinal cord and other parts of the body to relieve pain. Doctors prescribe several types of opioids in different strengths which can be administered in numerous forms, depending on the patient, the situation, and the type and level of pain. It is of great importance to the healthcare sector and thus is expected to rise high in the forecast period.
Opioids Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Drug Class (Short-acting Opioid, Long-acting Opioid), Application (Pain Relief, Anesthesia, Cough Suppression, Diarrhea Suppression, Others), End-Users (Hospitals, Homecare, Speciality Centres, Others), Distribution Channel (Hospital Pharmacy, Online Pharmacy, Retail Pharmacy)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Pfizer Inc (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), Mylan N.V. (U.S.), Fresenius Kabi AG (Germany), Hikma Pharmaceuticals PLC (U.K.), Novartis AG (Switzerland), Teva Pharmaceutical Industries Ltd. (Israel), Bristol Myers Squibb Company (U.S.) GSK Plc. (U.K.), Bayer AG (Germany), Aurobindo Pharma (India)
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Market Opportunities
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Global Opioids Market Dynamics
Drivers
- Rising Incidence of Kidney Diseases
The increase in kidney disorders can be attributed to lifestyle changes such as consumption of unhealthy food high in calcium and other minerals. For instance, per the records of the GBD (Global Burden Disease) 2015 study, about 1.2 million people in the world died because of kidney failure in 2015, a 32% rise since 2005. Thus, this boosts the market growth.
- Increasing Product Launches
Market players are primarily focusing on launching generic versions of different opioid medications which is predicted to boost the market growth during the forecast period. For instance, in December 2016, Impax Laboratories, Inc., which is a part of Amneal Pharmaceuticals, launched a generic version of Kadian Extended Release Capsules, USP CII 20, 30, 50, 60, 80, 100 mg. These capsules are specified for the management of severe chronic pain.
Opportunities
- Increasing Demand for Retail Pharmacies
The rise in the number of open angle glaucoma therapeutics supplied through retail pharmacies and the increase in the number of retail pharmacies in highly developed countries will create ampel opportunities for the market growth. In addition to this, patients choose retail pharmacies for purchasing drugs, as these are easily accessible.
- Increasing Use of Opoids
In 2014, it was reported that more than six out of 10 deaths are because of opioids overdose, which included heroin and opioid pain relievers. The maximum deaths were observed because of synthetic variants, which included 5,500 deaths in 2014. Considering the increased death rate related to opioid dependency and abuse, governments in U.S. and other countries advocate against using these substances. Thus, it creates opportunity for the market growth.
Restraints/Challenges
- Patent Expiration Encourages New Launches
The patent expiration of old companies can create better opportunities for the new market players. Adopting combination therapies is a significant factor contributing to the growth of the diuretic drugs market. Further, R&D fundings are an add-on to the market
- Opioid tolerance and addiction
The patient may become tolerant and need more and more drug to achieve the effect in smoothing the pain. Furthermore, using opioid for prolonged period of time can develop dependency and after withdrawing the drug, the patient may suffer from withdrawal symptoms such as anxiety, drug cravings, irritability, tremors (shaking), and others.
This global diuretic drugs market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global diuretic drugs market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Global Opioids Market
The COVID-19 pandemic has obstructed the entire supply chain of the healthcare industry mainly because of the strict lockdown in several regions. The COVID-19 pandemic has affected the economy of various regions worldwide in three main ways: directly affecting the production and demand, creating disruptions in distribution channels; and through its financial impact on companies and financial markets. Numerous countries such as Thailand, Indonesia, and Singapore are facing problems associated with the transportation and distribution of healthcare products. Thus, impact of COVID-19 pandemic is projected to restrict the development of the global opioids market during the forecast period, because of the reduction in supply of raw materials and pharmaceutical drugs of manufacturing companies worldwide associated with opioids.
Recent Developments
- In August 2020, the FDA approved Olinvyk injection which was developed by Trevena, Inc., for treating adults with severe acute pain. Olinvyk is an opioid agonist administrated intravenously to patients that costs about USD 194 for a supply of 10 mL vial.
- In June 2021, the U.S. FDA accepted and granted priority review designation to new drug application (NDA) submitted by Purdue Pharma L.P. for nalmefene hydrochloride injection. Nalmefene injectable is an opioid antagonist designed to reverse opioid overdose
Global Opioids Market Scope
The global opioids market is segmented on the basis of drug class, application, route of administration, distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Drug Class
- Short-acting Opioid
- Long-acting Opioid
Application
- Pain Relief
- Anesthesia
- Cough Suppression
- Diarrhea Suppression
- Others
End-Users
- Hospitals
- Homecare
- Speciality Centres
- Others
Distribution Channel
- Hospital Pharmacy
- Online Pharmacy
- Retail Pharmacy
Opioids Market Regional Analysis/Insights
The global opioids market is analyzed and market size insights and trends are provided by drug class, application, route of administration, distribution channel and end-user as referenced above.
The major countries covered in the global opioids market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America is expected to have the highest market growth due to the rise in cases of cancer and high consumption of opioids drugs, and high public awareness.
Asia-Pacific dominates the market due to the increase in government initiatives and rapidly increasing disposable income.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Opioids Market Share Analysis
The global opioids market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global opioids market.
Key players operating in the global opioids market include:
- Pfizer Inc (U.S.)
- F. Hoffmann-La Roche Ltd (Switzerland)
- Mylan N.V. (U.S.)
- Fresenius Kabi AG (Germany)
- Hikma Pharmaceuticals PLC (U.K.)
- Novartis AG (Switzerland)
- Teva Pharmaceutical Industries Ltd. (Israel)
- Bristol Myers Squibb Company (U.S.)
- GSK Plc. (U.K.)
- Bayer AG (Germany)
- Aurobindo Pharma (India)
- Torrent Pharmaceuticals Ltd (India)
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