Press release
Opioids Drugs Market Is Anticipated To Grow At A Strong Cagr By 2026
Global opioids drugs market was valued US$ 22.85 Bn in 2017 and is expected to reach US$ 32.6 Bn by 2026, at a CAGR of 4.54 % during a forecast period.Opioids are narcotic drugs act on the nervous system and used to reduce pain, but can also have serious risks and side effects.
Side Effects of Opioids:
Nausea & vomiting
Abdominal distention & bloating
Constipation
Liver damage
Brain damage due to hypoxia, resulting from respiratory depression
Development of tolerance
Opioids are mainly used in cancer pain management and end-stage diseases in which painkilling care is required.
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The rising prevalence of cancer, high demand for pain therapeutics in the treatment of chronic pain, regulatory approvals & launches of innovative drug formulations, and increasing approval rate of abuse-deterrent formulations of opioid drugs are major driving factors of the global opioids drugs market. Extensive misuse of opioids, the growing incidence of death related to opioid overdose, and rising number of lawsuits against opioid manufacturers are hindering the growth of the market.
Oxycodone holds the largest market share in terms of product, owing to the used to help relieve moderate to severe pain. It works in the brain to change how your body feels and responds to pain. Oxycodone may cause side effects such as dry mouth, stomach pain, drowsiness, flushing, headache, and mood changes.
Anesthesia is the majorly used application in the opioids drugs market. A major benefit of opioid anesthesia is the cardiovascular stability obtained during orientation and throughout the operation, even in patients with severely impaired cardiac function. According to health experts, the risk of complications during anesthesia are increased due to the rising rate of smoking, high blood pressure, diabetes, obstructive sleep arena and lung related to heart, and drug allergies or the past reactions related to anesthesia.
North America is the leading opioids drugs market and accounting for nearly 65% revenue share, followed by Europe. Due to growing painkilling care facilities, reformed regulations for prescription of opioids, and extensive focus of generic manufacturers towards Abuse-Deterrent Formulation (ADF) are expected to drive the growth of the opioids market in North America, followed by Europe.
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The report covers a comprehensive study of major market drivers, restrains, opportunities, challenges, PESTEL, Porters, SWOT, and technological forecasting in the market.
The Scope of Global Opioids Drugs Market:
Global Opioids Drugs Market, by Products:
Buprenorphine
Fentanyl
Hydrocodone
Morphine
Oxycodone
Other products
Global Opioids Drugs Market, by Application:
Anesthesia
Pain relief
Cough suppression
Diarrhea suppression
Deaddiction
Global Opioids Drugs Market, by Region:
North America
Europe
Asia-Pacific
South America
Middle East & Africa
Key Player Operating In the Global Opioids Drugs Market:
Acura Pharmaceuticals Inc.
Allergan Plc
Apotex Inc.
Assertio Therapeutics Inc. (Depomed Inc.)
Biodelivery Sciences International Inc.
Cipher Pharmaceuticals Inc.
Collegium Pharmaceutical Inc.
Daiichi Sankyo Inc.
Egalet Corp.
Endo International Plc
Hikma Pharmaceuticals Plc
Indivior Plc
Insys Therapeutics Inc.
Johnson & Johnson
Kempharm Inc.
Lannett Co. Inc.
Lupin Ltd.
Mallinckrodt
Mylan Nv
Orexo Ab
Pernix Therapeutics
Pfizer Inc.
Purdue Pharma Lp
Sun Pharmaceutical Industries Ltd. (Sun Pharma)
Teva Pharmaceutical Industries Ltd.
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