U.S. Opioids Market Set to Witness Rapid Growth during the Forecast Period – Top Global Key Players Purdue Pharma L.P., Titan Pharmaceuticals Inc.

U.S. Opioids Market was valued at US$ 12,627.6 million in 2016 and is expected to exhibit CAGR of 5.2% over the forecast period (2016–2024). Increasing incidences of chronic diseases, such as cancer and cardiovascular diseases in developed countries such as U.S., easy accessibility and low cost of opioids pain killers compared to other pain killers such as nonsteroidal anti-inflammatory drugs (NSAIDs) and acetaminophen are the major drivers for growth of the U.S. opioids market. Strict regulatory guidelines for opioids prescription and increasing awareness about harmful effects of the drug are restraining growth of the market.

Study Report focuses on the top key players of U.S. Opioids Market. Key companies covered in the global U.S. opioids market report include Purdue Pharma L.P., Titan Pharmaceuticals, Inc., Boehringer Ingelheim GmbH, Janssen Pharmaceuticals, Inc., Sanofi S.A., Sun Pharmaceuticals Industries Limited, Mallinckrodt Pharmaceuticals, Egalet Corporation, Endo Pharmaceuticals plc, Allergan, Plc., and Pfizer Inc.

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Due to increased focus on opioids drug, leading pharmacy chains such as CVS has also opted to cooperate the government in managing this crisis. CVS health has announced to reduce opioid prescription and has given detailed guidelines for its use. One among such steps is that their chemist are expected to contact doctors in case of is over prescription of drug.

According to the National Center for Health Statistics (NCHS), a division of the Centers for Disease Control and Prevention, (CDC) in 2017, drug overdose killed around 64,070 people in the U.S. in 2016, a rise of 21% over the 52,898 drug overdose deaths was recorded in 2015 and death due to synthetic-opioid fatalities more than doubling in number during the same time increasing from 9,945 in 2015 -2016 to 20,145 in 2016 - 2017.

The same source estimated that opioid overdose resulted in the deaths of approximately 300,000 people in the U.S. during 1999 – 2015. The CDC figure also shows that the rate of increase in deaths from synthetic opioid was much higher than natural or semi-synthetic opioids during 1999 - 2015. According to the CDC report, 2016 nearly half of all opioid overdose deaths involved a prescription opioid.

Key Takeaways of the U.S. Opioids Market:
• The U.S. Opioids market is expected to exhibit a CAGR of 5.2% over the forecast period (2017 – 2025), owing to the increasing incidences of chronic pain, especially in emerging economies.
• Opioids overuse or abuse, which is contributing significantly to this market expansion has become the major concern in the economy.
• Alternative drugs like cannabis has gained attraction in recent times for pain management. If proven effective and safe, cannabis has potential to replace the opioids.
• The use of medical cannabis has been endorsed by numerous professional organizations in the U.S. including the American Academy of Family Physicians (AAFP), the American Public Health Association (APHA), and the American Nurses Association (ANA).
• Pressure is mounting on leading pharmacy chain, such as CVS to act positively to limit the opioid drug prescription.

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