Opioids Market to Play Major Role in $22.3 billion Economic Boost | Boehringer Ingelheim, Janssen Pharmaceuticals, Inc.

According to the research report published by Allied Market Research, the global Opioid market is expected to register a CAGR of 3.2% from 2019 to 2026. The research includes changing market dynamics, top impacting factors, key investment pockets, value chain, and competitive scenario. Through tabular and graphical representation, the report offers key insights on different aspects of the market such as current market size and estimations, region-wise analysis, and opportunities. Porter’s Five Forces analysis has been mentioned in the report to outline competitive intensity. The report is a helpful source of information to unlock potential from emerging countries and expand businesses to gain international presence.

The market report includes a detailed analysis of the Covid-19 impact on the Opioid market. Over the course of 2019–2027, the market is expected to show significant growth. However, the recent Covid-19 outbreak is likely to affect some of the business operations. The report includes an analysis of how Covid-19 has and will affect the industry, studying reliable sources, interviews of experts, and annual reports of the major market players. The report includes major drivers, restraints, and opportunities within the Opioid market.

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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.

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.

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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.

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.

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The Major Key Players Are:

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

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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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