North America Synthetic Opioids Market to Reach US$ 90.7 Bn by 2024 : Purdue Pharma, Pfizer Inc., Janssen Pharmaceuticals Inc., Teva Pharmaceuticals, and Endo Pharmaceuticals plc
Manufacturers of opioids have witnessed tremendous growth in consumption in the last decade. This stupendous growth can be attributed to the absence of regulatory policies and lack of product knowledge among physicians. However, the scenario has changed and now, companies are facing challenges from reformed regulations. Hence, in order to sustain in such a regulatory environment, companies are now focusing on the development of more advanced forms of opioids that strictly adhere to the prescription and manufacturing regulations. In a new report on the North America synthetic opioids market titled North America Synthetic Opioids Market: Global Industry Analysis and Forecast 2016-2024, the analysts of Persistence Market Research have observed that pharmaceutical companies are highly focused on the development of tamper evident opioid drugs, owing to the high misuse of opioids. Companies are taking measures to develop non-abuse drug formulations to prohibit the misuse of opioids. For example, in July 2014, the U.S. Food and Drug Administration approved the newer form of OxyContin, a type of non-abuse opioid drug. The report further states that the U.S market holds the maximum share of opioid sales. After phenomenal growth in opioid sales, the market has become stagnant over the past few years, due to several regulations and restrictions on prescription drugs.
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North America Synthetic Opioids Market: Average Selling Price Analysis 2015
- Average selling price of Buprenorphine is higher among all the drugs because of the high cost of transdermal patches. Fentanyl transdermal patches also increases its per mg average selling price
- The prices of opioid drugs have decreased because of the increased generic availability of the products
- Average selling price is the most important parameter in determining the revenue generated by the particular drug by multiplying it with the average per capita consumption of the drug in North America
- Average drug pricing is nearly similar in both U.S and Canada
The analysts have segmented the North America synthetic opioids market into four categories namely by country, by product type, by application and by distribution channel. The report begins with the executive summery and extensively covers the market overview, overall market approach, target geographies and differentiating strategies of key players in the North America synthetic opioids market. The executive summery is followed by the market introduction and consists of the definition of various types of products in the North America synthetic opioids market. The analysts have covered detailed analysis of the North America synthetic opioids market scenario. This analysis includes Y-o-Y growth and absolute $ opportunity for the forecast period. Various market dynamics that comprise drivers, restraints, opportunities and trends are covered in the report. The analysts have made sure to cover each and every segment in detail along with highlighting the market share analysis, BPS analysis and the Y-o-Y growth rate of the North America synthetic opioids market. The report concludes with key player profiles accompanied by key developments, business strategy overview and SWOT analysis.
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By Product Type
- Synthetic Opioids
- Semi-Synthetic Opioids
- Pain Management
By Distribution Channel
- Retail Outlet
The analysts have considered the weighted average pricing of different opioids in North America while inspecting this market. Generic products have been taken into account, as an increase in generic products has led to a decrease in the average pricing of the drugs. Patented formulations such as tamper-resistant drugs or controlled release drugs are differentiated products and thus charge a high price; hence, they affect the average selling price of the product. Various government agencies regulate the selling prices of drugs and thus affect the price of many branded products. A demand-supply gap analysis has been carried out involving both marketplace discussion and desk research to determine the price. Indicators such as R&D expenditure, research funding from government and non-profit organizations etc. have been considered to arrive at the indicated market numbers. The analysts have not factored yearly change in inflation rate while forecasting market numbers. All values for market size are in US$ (US Dollar).
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- Purdue Pharma LP
- Pfizer Inc.
- Janssen Pharmaceuticals, Inc.
- Teva Pharmaceuticals
- Endo International plc
- West-Ward Pharmaceuticals (Hikma’s US subsidiary)
- Mallinckrodt Pharmaceuticals plc
- Mylan N.V.
- Impax Laboratories, Inc
- Indivior Plc.
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