Opioids Market Analysis, Size, Current Scenario and Future Prospects

Opioids market is anticipated to grow at a CAGR of 3.5% during the forecast period. Opioids can be prescription medications often referred to as painkillers. Many prescription opioids are used to block pain signals between the brain and the body and are typically prescribed to treat moderate to severe pain. In addition to controlling pain, opioids can make some people feel relaxed, happy, or "high," and can be addictive. The increasing number of people suffering from chronic pains is contributing to the market growth. For instance, as per the CDC, the prevalence of chronic pain was 7.4% in the US in 2019 and an estimated 20.4% of US adults (50.0 million) had chronic pain and 8.0% of US adults (19.6 million) had high-impact chronic pain 2016. Apart from these, increasing cancer prevalence globally is also paved the way for market growth. Opioids are considered highly effective medicine for relieving cancer pain. As per the World Cancer Research Fund International, there were an estimated 18.1 million cancer cases around the world in 2020. Of these, 9.3 million cases were in men and 8.8 million in women. By 2040, the global burden is expected to grow to 27.5 million new cancer cases and 16.3 million cancer deaths simply due to the growth and aging of the population. This will generate a huge demand for opioids, thereby driving market growth.

However, the excessive or longer-term use of opioids can lead to addiction. In addition, it can restrict the ability to breathe when taken at a higher dose, and when misused, can lead to a fatal overdose. The stringent government regulations for opioid prescription are the factor anticipated to hamper the market growth. Furthermore, the rise in cases of orthopedic diseases, HIV, and other diseases is expected to offer lucrative growth opportunities in the opioids market in the upcoming years.

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Opioids Market- Segmentation

By Product Type

Codeine
Fentanyl
Oxycodone
Methadone
Morphine
Hydrocodone
Others
By Application

Pain Management
Cough Treatment
Diarrhea Treatment
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Opioids Market- Segment by Region

North America

United States
Canada
Europe

Germany
United Kingdom
France
Spain
Italy
Rest of Europe
Asia-Pacific

China
Japan
India
Rest of Asia-Pacific
Rest of the World

Middle East & Africa
Latin America
Company Profiles

AstraZeneca Plc
H. Boehringer Sohn Ag and Ko. Kg
Endo Pharmaceuticals, Inc.
Johnson & Johnson Services, Inc.
Jupiter Pharmaceuticals, Ltd.
Lupin, Ltd.
Mallinckrodt Pharmaceuticals
Midas Pharma GmbH
Pfizer, Inc.
Piramal Enterprises Ltd.
Sanofi S.A.
Sun Pharmaceutical Industries, Ltd.
Taj Pharmaceuticals, Ltd.
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