Opioids Market Majorly Impacted By Rising Adoption Of Cannabis With Key Companies : Pharma L.P., Janssen Pharmaceuticals, Inc., West - Ward Pharmaceuticals Corporation, Pfizer, Inc., Egalet Corporation, Allergan Plc, Sanofi Sa

Opioid drugs act on the opioid receptors present in the central and peripheral nervous system. The drug class primarily used in relieving pain includes natural, semi-synthetic, and synthetic opioids. Codeine, morphine, hydrocodone, oxycodone, heroin, and fentanyl are some of the major prescription drugs in the global opioids agonist drugs market. Opioids can be administered as oral pills, parenteral, liquids, patches, or lozenges. Overdose and drug abuse is a major concern for health regulators worldwide, with the situation especially alarming in developed regions with easy access to these drugs. According to the World Drug Report 2016, a staggering 17.4 million people were affected by opioid drug abuse. Drug and health regulators are therefore, taking initiatives to govern pain prescriptions and curb the rate of opioid abuse. The U.S. FDA considers all opioids as schedule 2 drugs—drugs that have high abuse potential. In 2016, the CDC issued guidelines to prescribe opioids, limiting the daily dose of opioids to 90 morphine milligram equivalent (MME).

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"Market Dynamics"

According to the National Institutes of Health (NIH) estimates published in 2015 by the American Pain Society, nearly 50 million people in the U.S. suffered from chronic pain. Use of opioids in cancer pain, orthopedic pain, neuropathic pain, post-operative pain, and lower back pain is very effective. With growing incidence of chronic pain, demand for opioids will also increase consequently.

North America is the largest market for opioids owing to availability of branded prescription and local products, which inadvertently also leads to drug abuse. There are local unbranded products available for every opioid derivative complementing the available prescription opioid brand. The Centers for Disease Control and Prevention (CDC) states that 73% of all drug overdose deaths in the U.S. in 2015 were due to opioids (57% in 2010). Moreover, emergence of cannabis as an alternative to opioids and legalization of the same in various regions is inhibiting the opioids market growth.

"Competitve Landscape"

Key companies covered as a part of this study include Purdue Pharma L.P., Janssen Pharmaceuticals, Inc., West - Ward Pharmaceuticals Corporation, Pfizer, Inc., Egalet Corporation, Allergan plc, Sanofi SA, Boehringer Ingelheim, and Sun Pharmaceutical Industries Ltd.

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"Market Taxonomy"

Detailed Segmentation:

Global Opioids Agonist Drugs Market, By Product Type:
Codeine
Fentanyl
Meperidine
Methadone
Morphine
Hydrocodone

Global Opioids Agonist Drugs Market, By Therapeutic Application:
Pain Management
Neuropathic Pain
Migraine
Back Pain
Osteoarthritis Pain
Cancer Pain
Others
Cough Treatment
Diarrhea Treatment

Global Opioids Agonist Drugs Market, By Geography:
North America
Europe
Asia-Pacific
Latin America
Middle East
Africa

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This release was published on openPR.