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Opioids Market Rapidly Growing in Near Future & Forecast till 2026 By Global Key Players Pfizer Inc., Sanofi S.A., Allergan, Plc, Sun Pharmaceutical Industries Ltd., Purdue Pharma, Titan Pharmaceuticals, Inc.

01-16-2019 09:44 AM CET | Health & Medicine

Press release from: Coherent Market Insights - Pharmaceutical Industry

Global Opioids Market

Global Opioids Market

Opioid drugs bind to opioid receptors that are present in several areas of the nervous system such as the brain and spinal cord. Medically, they are primarily being used for pain relief. The drug class primarily used in relieving pain includes natural, semi-synthetic, and synthetic opioids. However, its application is not limited to pain relief alone and has been successfully used for treatment of various other medical conditions such as diarrhea and cough. Opioid drugs can be broadly divided into two categories, mild and major opioids, on the basis of its efficacy. Opioids can be administered as oral pills, parenteral, liquids, patches, or lozenges. Overdose and drug abuse is a major concern, with the situation alarming in developed regions. According to World Drug Report 2017, 29.5 million people suffered from drug use disorders in 2015 and staggering 70% of this 29.5 million were attributed to opioids only.

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Market Dynamics

Incidence of chronic pain, which is primarily treated by opioids has witnessed continuous growth over the last decades. According to a report titled Pain in Europe, published in 2006, chronic pain affected around one in five (19%) adults, and prevalence was recorded to be the highest in Norway, Poland, and Italy, where one-fourth of adults were suffering from chronic pain. According to a study titled Prevalence of Chronic Pain in the UK, published in The BMJ (British Medical Journal), in 2013, chronic pain affects between one-third and one-half of the population in the U.K, indicating high prevalence rate. Prevalence rate is similar in other developed countries such as the U.S. Rapidly increasing incidence of chronic pain is thus expected to boost growth of the opioids market over the forecast period.

Increasing incidence of chronic pain is expected to drive the opioids market growth

Incidences of chronic pain is on the rise across the globe, with the rate being much higher in developed economies such as the U.S., UK, Germany, and Canada. According to a study published by BMJ (British Medical Journal), in 2013, around one-third to one-half of the population in UK suffered from some kind of chronic pain. The situation is not quite different in other developed economies such as the U.S. and Japan. According to a study published in NCBI, in 2015, prevalence of chronic pain is estimated to be as high as 20% (one in five) in Japan. The aging population is rapidly increasing in all in developed economies, which is thus expected to further increase incidences of chronic pain, in turn increasing consumption of opioid drugs.

Opioids Market - Key Players

Some of the major players operating in the global opioids market are Purdue Pharma, Titan Pharmaceuticals, Inc., Boehringer Ingelheim GmbH, Janssen Pharmaceuticals, Inc., Sanofi S.A., Sun Pharmaceutical Industries Ltd., Mallinckrodt Pharmaceuticals, Egalet Corporation, Endo Pharmaceuticals Inc., Allergan, Plc, and Pfizer Inc.

Detailed Segmentation:

Global Opioids Market, By Drug Class:
• Agonist
- Codeine
- Fentanyl
- Meperidine
- Methadone
- Morphine
- Hydrocodone
- Diphenoxylate
- Hydromorphone
- Methylphenidate
- Oxycodone
- Oxymorphone
• Antagonist
- Buprenorphine
- Naloxone
- Naltrexone
- Methylnaltrexone
- Nalbuphine

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

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

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About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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Coherent Market Insights
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Seattle, WA 98154
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Email: sales@coherentmarketinsights.com

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