Opioids Market In-depth Analysis Report 2021-2028 | Pfizer, Boehringer Ingelheim, Actavis Plc., Sanofi SA

Overview

Opioids have proven to be very effective in managing pain, especially for chronic pain and conditions like cancer and arthritis. However, there is a downside in using these drugs for acute pain such as muscle spasms, sprains, and strains. Overdose is the most serious and potentially lethal complication of long-term use of these medications. An opioid overdose is reversible with the appropriate drug, namely, ibuprofen. Improvement has been observed in some parts of the nation in terms of declining prescription opioid pain reliever availability and falling usage among the teens. The decrease in opioid analgesic overdose deaths may be because of abuse of non-prescription and over-the-counter pain medication.

Market Statistics:

The global opioids market is estimated to account for US$ 51,005.8 Mn in terms of value by the end of 2028.

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Key Players in This Report Include Pfizer, Inc., Boehringer Ingelheim, Janssen Pharmaceuticals, Inc., Actavis Plc., Sanofi SA, Sun Pharmaceutical Industries Ltd., Mallinckrodt Pharmaceuticals, Endo Pharmaceuticals Inc., and Zyla Life Sciences.

Drivers

Approval and launch of new products is expected to propel growth of the global opioids market over the forecast period. For instance, in June 2018, the European Commission approved DZUVEO from AcelRx Pharmaceuticals, Inc. for the management of acute moderate to severe pain in adults in medically monitored settings.

Opportunities

Increasing R&D in opioids is expected to offer lucrative growth opportunities for players in the global opioids market. For instance, in March 2020, Adamis Pharmaceuticals Corporation, in collaboration with University of Michigan, U.S., reported that higher doses of 2 mg intramuscular Naloxone result in higher mu receptor occupancy and could be useful in addressing overdoses resulting from potent synthetic opioids.

Recent Developments

Major players operating in the global opioids market are focused on adopting M&A strategies to enhance their market share. For instance, in 2018, Grünenthal acquired Averitas Pharma, the US-based pharmaceutical company, to expand its presence in the U.S.

Restraints

Sale of counterfeit opioids is expected to limit growth of the global opioids market. For instance, in June 2019, Drug Enforcement Administration warned regarding sell of counterfeit fentanyl pills and other synthetic opioids.

Covid-19 Impact Analysis:

Globally, as of 6:49pm CEST, 8 October 2021, there have been 236,599,025 confirmed cases of COVID-19, including 4,831,486 deaths, reported to WHO. As of 10 October 2021, a total of 6,364,021,792 vaccine doses have been administered. The emergence of Covid-19 has led to increase in cases of drug overdoses. COVID-19 has tripled the rate of depression in US adults in all demographic groups—especially in those with financial worries. Such scenario has led the U.S. Department of Health and Human Services to relax a regulation around prescribing addiction medication in an effort to combat the rising death toll.

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Key Takeaways:

The Morphine segment in the global opioids market was valued at US$ 13,697.6 Mn in 2018 and is expected to reach US$ 17,766.2 Mn by 2027 at a CAGR of 2.9% during the forecast period.
The Analgesia segment held dominant position in the global opioids market in 2018, accounting for 67.3% share in terms of volume, followed by cough suppression and diarrhoea suppression, respectively.

Competitive Landscape

Major players operating in the global opioids market include, Actavis Plc., Boehringer Ingelheim, Endo Pharmaceuticals Inc., Janssen Pharmaceuticals, Inc., Mallinckrodt Pharmaceuticals, Pfizer, Inc., Sanofi SA, Sun Pharmaceutical Industries Ltd., and Zyla Life Sciences.

Key Developments

Major players in the market are focused on approval and launch of new products to expand their product portfolio. For instance, in May 2020, Adamis Pharmaceuticals Corporation resubmitted New Drug Application to the U.S. Food and Drug Administration for its ZIMHI (naloxone HCI Injection, USP) product candidate for the treatment of opioid overdose.

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