Opioids Market

The global Opioids Market is valued at USD 4.52 Billion in 2022 and is projected to reach a value of USD 5.93 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 3.4% between 2023 and 2030.

Premium Insights

The prevalence of opioid-related deaths, especially driven by synthetic opioids, primarily affects high-income countries, highlighting the urgency of effective interventions. For instance, According to WHO, around 0.5 million deaths per year, 350 000 of which are male and 150 000 of which are female because of drug usage.

• Pharmaceutical executives are investigating non-opioid options and investing in resources for addiction treatment as a result of regulatory authorities' focus on stricter restrictions.
• North America generated more than 37.5% of revenue share in 2022
• Asia Pacific is expected to grow at the quickest rate from 2023 to 2030
• Oxycodone segment accounted for the largest market growth. It contributed over 25.6% of the total revenue share in 2022 due to its widespread usage for pain management
• Pain Management segment revealed the most significant market growth, contributing more than 33.4% of the total revenue share in 2022
• Injectable segment accounts for largest revenue of 38.6% in 2022
• Retail pharmacy segment dominated the market in 2022 with market share of 39.8%

Economic Insights

The economic impact is significant and includes about $50 billion in healthcare expenses each year for hospitalization, treatment plans, and rehabilitation services. Over the past ten years, the opioid crisis has resulted in an alarming 30% increase in overdose-related deaths, costing society an estimated $70 billion in lost productivity and 40% more in healthcare costs. A 20% decrease in opioid prescriptions has resulted from regulatory improvements intended to lessen the epidemic, reflecting attempts to stop overprescribing behaviors.

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Top Market Trends

• Increasing prevalence of chronic pain: Opioids are frequently used to treat it, including pain from cancer, arthritis, and back pain. The market for opioids is expanding as chronic pain becomes more common.
• Development of new opioid formulations: New opioid formulations that are intended to be safer and more effective than conventional opioids are being created by researchers.
• Increasing use of opioids in combination with other pain medications: To increase pain relief and lower the risk of adverse effects, opioids are frequently used in conjunction with other painkillers, such as non-steroidal anti-inflammatory medicines (NSAIDs).
• Increasing use of opioids in cancer pain management: Opioids are frequently used to treat the often severe and incapacitating pain associated with cancer. The opioids market is expanding as a result of the rising usage of opioids in the treatment of cancer pain.
• Development of new non-opioid pain medications: New non-opioid painkillers are being created by researchers; they are intended to be just as effective as opioids while having fewer negative effects. These novel treatments include NMDA receptor antagonists, which are drugs that block a specific type of pain-related receptor in the brain, and gabapentinoids, anticonvulsants that are also used to treat pain.

Market Segmentation

Opioids The global Opioids market can be categorized into Product , Application , Route of administration, Distribution channel , Region. The Opioids market can be categorized into Codeine, Fentanyl, Methadone, Oxycodone , Morphine, Hydrocodone , Others based on Product . The Opioids market can be categorized into Pain Management, Cough Treatment, Diarrhea, De-addiction based on Application . The Opioids market can be categorized into oral , Injectable , Others based on Route of administration. The Opioids market can be categorized into Hospital pharmacy , Retail pharmacy , Others based on Distribution channel . The Opioids market can be categorized into North America, Europe, Asia Pacific, Latin America, Middle East & Africa based on Region.

Based on Product

Oxycodone holds the largest share

The oxycodone accounts fir largest share in the Opioids market due to the drug's powerful analgesic effects, which efficiently reduce moderate to severe pain. Its numerous formulations, which include immediate-release and extended-release tablets, capsules, and injectables to meet different pain management demands, serve as a testament to its leadership. Additionally, the widespread use of generic oxycodone is facilitated by its availability and low cost. The reputation of oxycodone, a well-known analgesic with a long history in the treatment of pain, furthers its market dominance.

Based on Application

Pain Management will dominate the market during Forecast Period

The pain management application category is expected to dominate the opioids market throughout the forecast period due to increasing incidence of chronic pain. This dominance is further strengthened by the changing landscape of opioid formulations, including extended-release tablets designed for long-term pain relief. Opioids' involvement in all-encompassing pain management regimens is further enhanced by the interaction between them and other painkillers.

Based on Route of administration

Injectable will account for largest market share

The growth of the injectable market is because of it provides rapid and persistent pain relief, making them essential for managing acute pain. Injectable opioids are frequently used in hospital settings for acute pain situations, such as post-surgical recovery, but they are also useful in-home settings for chronic pain situations, such as discomfort from cancer.

Based on Distribution channel

Retail Pharmacy will dominate the market

The retail pharmacy sector is expected to dominate during the forecast period because retail pharmacies are the main supply of prescription medications, including opioids, therefore their accessibility and extensive presence enhance their significance. An extensive network of locations guarantees easy patient access, and the variety of payment alternatives provided by retail pharmacies streamlines the acquisition of opioids. Retail pharmacies' extensive distribution networks provide prompt opioid availability to customers, reiterating their crucial position in the market's structure.

Based on Region

North America will lead the market

North America is expected to dominate the market for Opioids due to significant incidence of chronic pain, cementing its market dominance. Its impact is further amplified by the wide range of opioid drugs that are readily available in North America, which serve a variety of purposes in pain management. Additionally, the area gains from favorable reimbursement regulations that encourage the prescription of opioids, thus solidifying its position as the market leader.

Competitive Landscape

The global Opioids market is fragmented, including a diverse array of the presence of several key players, ranging from established drugs and manufacturers to emerging companies specializing in treatments. Collaborations between pharmaceutical entities, research institutions, and pain management specialists underscore the collaborative nature of the market, pushing for safer and more effective opioid formulations and alternative pain relief strategies.

The players in the global Opioids market include AbbVie, Allergan, Orexo Pharmaceuticals, Sanofi, Teva Pharmaceuticals, Pfizer, Hospira, Endo Pharmaceuticals, Purdue Pharma, Sun Pharmaceutical Industries Limited among others.

Recent Market Developments

August 2022: Adalvo purchased the branded opioid drug Onsolis from a respected specialty pharmacy company in the United States. This opioid is suggested for the management of chronic pain in cancer patients. This acquisition significantly increased the company's opioid product range and provided a substantial opportunity for the company to grow.

Segmentation of the Global Opioids Market