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Global Opioids Agonist Drugs Market Is Recurring & Impressive Growth Generating Sector Through 2016-2024 With Top Key Companies Purdue Pharma L.P., Janssen Pharmaceuticals, West - Ward Pharmaceuticals Corporation, Pfizer, Egalet Corp

07-19-2019 07:25 AM CET | Health & Medicine

Press release from: Coherent Market Insights - Pharmaceutical Industry

Opioids Agonist Drugs

Opioids Agonist Drugs

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. The global opioids market was valued at US$ 17,132.5 million in 2015 and is expected to witness a moderate CAGR of 4.2% during the forecast period (2016 – 2024).

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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).

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

According to the American Academy of Pain Medicine (2011), the number of people who suffered from chronic pain was around 1.8 billion. Moreover, according to the NIH estimates (2015), one in 10 people in the U.S. suffer from chronic pain. Around one-third to half of the population in the U.K. suffers from chronic pain, according to a study published in the British Medical Journal in 2016. Opioids are commonly used for treating pain, and opioid containing drugs are being misused or are being consumed in overdose when patients follow self-medication. Moreover, rising prevalence of pain, cough and, diarrhea are other factors driving growth of the opioids agonist drugs market. The highly prescribed opioid in the U.S. is hydrocodone.

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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The U.S. FDA considers all opioids as schedule 2 drugs—drugs that have high abuse potential. Codeine, fentanyl, meperidine, methadone, morphine, and hydrocodone are the most abused prescription opioid analgesics. Contrary to other regions, wherein codeine is expected to dominate the market globally, North America is expected to be primarily driven by sales of hydrocodone opioids. Drug abuse with opioid is characterized by prolonged use or overdosing of the prescribed medication. A 2015 study by the CDC concluded that people who are addicted to prescription analgesics are 40 times more likely to be addicted to heroin. Furthermore, CDC also states that 73% of all drug overdose deaths in the U.S. in 2015 were due to opioids (57% in 2010). Although the use of prescription opioid for non-medical purpose has decreased over 2012–2014, use of heroin has increased significantly during this period.

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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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