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Pharma giant expects Opioids market lineup to be its top seller this year | Boehringer Ingelheim, Janssen Pharmaceuticals, Inc.

10-18-2020 04:30 PM CET | Health & Medicine

Press release from: Allied Market Research

Opioids Market

Opioids Market

The research report published by Allied Market Report states that the global opioids market is estimated to reach $22.3 Billion by 2026. The report provides an in-depth analysis of growth factors, opportunities, market trends, key segments, and competitive landscape. Current market conditions and the future scenario of various regions have been analyzed in the report to help market players in devising expansion strategies. Moreover, it includes country-wise analysis of each region. Product portfolio and business segments of leading market players outline the competitive scenario. The report provides insights to help investors, stakeholders, and new entrants to determine potential opportunities and tap on them to gain competitive advantage.

Opioid drugs are available legally by prescription, such as oxycodone (OxyContin), hydrocodone (Vicodin), codeine, morphine, and others. However, opioids comprise the illicit drug heroin, synthetic opioids including fentanyl, morphine, and other pain relievers.

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The opioid market growth is majorly driven by surge in consumption of these drugs to combat pain and rise in geriatric population that are more prone to orthopedic pain. In addition, upsurge in disposable income in developing economies such as India, China, and others contribute to the growth of the market. However, surge in opioid addiction (opioid crisis) across the globe and implementation of stringent government regulation for opioid prescription are the factors anticipated to hamper the market growth. In addition, increase in death rates owing to the overdose of these drugs is a major factor restraining the market growth. For instance, according to the National Institute of Drug Abuse, more than 130 people in the U.S. die daily on overdosing of opioids.

Based on opioid market analysis, the oxycodone segment accounted for 23% of the share in 2018 and is expected to exhibit a prominent growth rate in the near future, owing to its increased intake across the globe for pain management. By application, the pain management segment dominated the opioid market in 2018 and is anticipated to maintain its dominance during the forecast period. This is attributed to increase in incidence of migraine, back pain, cancer pain, and others, which in turn fuels the adoption of opioids drugs.

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North America accounted for the majority global opioid market share in 2018 and is anticipated to continue this trend during the forecast period. This is attributed to vigorous use and ease of availability of opioid analgesics in this region. However, Asia-Pacific is anticipated to grow at the fastest rate during the forecast period, owing to the presence of key players such as Teva Pharmaceuticals, Janssen Pharmaceuticals, Inc., and others in the region. Although opioids are vigorously used for pain management, the market is experiencing slow growth, owing to increase in cases of opioid crisis and deaths due to opioid overdose/misuse.

The Major Key Players Are:

• Purdue Pharma
• Boehringer Ingelheim
• Janssen Pharmaceuticals, Inc.
• Sanofl
• Sun Pharmaceuticals
• Mallinckrodt Pharmaceuticals
• Endo Pharmaceuticals Inc.
• Allergan, Plc
• Pfizer, Inc.

Access Full Report @ https://www.alliedmarketresearch.com/opioids-market

Contact:

David Correa
Portland, OR, United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022, +1-503-446-1141
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Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

About Us

Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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