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Escalating Occurrence of Chronic Pain Is Stimulating the Global Opioids Market Growth

09-23-2022 07:07 AM CET | Health & Medicine

Press release from: Inkwood Research

Global Opioids Drug Market

Global Opioids Drug Market

According to a new market research report published by Inkwood Research, the Global Opioids Drugs Market is projected to evolve at a CAGR of 2.48% during the forecasting years of 2019-2028.

"Browse 39 market Data Tables and 48 Figures spread over 286 Pages, along with an in-depth TOC on Global Opioids Drugs Market Forecast 2019-2028."

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Opioids are narcotic drugs used as pain relievers to treat moderate to chronic pain. They comprise of the chemicals that relax the muscles, and can relieve pain and stress. Although some opioids are used to treat cough and diarrhea, prescription opioids are primarily used for pain management. The drugs act on both the central and peripheral nervous systems. The side effects of opioids drugs are drowsiness, mental fog, nausea, and constipation. Opioid addiction, overdose, and abuse are serious public health concerns all over the world. Opioids are divided into two categories, non-synthetic or natural opioids and synthetic. Natural opioids are also called opiates. Synthetic opioids are developed from natural opioids, and categorized as fully synthetic or semi-synthetic.

Rising prevalence of Chronic Pain Boosts the Market Growth

The IASP has defined chronic pain as a complex health condition, which lasts for more than six months. Chronic pain may arise in conditions such as postoperative pain and pain associated with chronic diseases such as cancer, arthritis, neuropathic pains, and lower back pain. The prevalence of chronic pain is increasing in a considerable manner across the world, due to the rising incidence of chronic diseases. Millions of individuals suffer from chronic pain every year and inflict a tremendous financial burden on the country's economy. Opioids drugs are an exceptional therapeutic option to get relief from chronic pain, if provided in a limited dose. The surging incidence of cancer is across the world, and the growing prevalence of chronic pain is likely to drive the demand for opioid drugs.

VIEW TABLE OF CONTENT LINK - https://www.inkwoodresearch.com/reports/opioids-drugs-market/#table-of-contents

Buprenorphine - Product Segment Predicted To Record Highest Growth Rate

Buprenorphine is derived from the opioid alkaloid, and is more powerful than morphine. The drug is used in treating moderate to severe pain. Buprenorphine has a high affinity with the opioid receptor, and binds very tightly to the receptors. Hence, other agonists such as morphine, and oxycodone, which are typically used, will not replace buprenorphine if the drug is attached to the receptor. The buprenorphine treatment has an adverse effect on precipitated withdrawal, which should be avoided. The significant factor driving the growth of the buprenorphine market are the opioid-related deaths. The increasing government initiatives to combat the rising opioid crisis have led to a rise in demand for opioids use disorders. The growing demand has led the private companies to invest in the development of novel therapeutics of buprenorphine for the treatment of opioid use disorder, and the increase in market penetration is expected to augment market growth.

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North America Captured the Largest Revenue Share in 2019

The region of North America is estimated to capture the largest market share in terms of revenue during the forecast period. The high rate of approval and launch of novel abuse-deterrent formulation of the opioid drug is one of the major factors contributing to market growth in the region.

The global opioids market is fragmented, with several big and small players investing in the enhancement of novel therapeutics, which is supplementing the market growth. The market competition is high in the generic space, owing to the presence of several major players supplying various opioid drugs. Some of the prominent companies trying to consolidate their position in the market through mergers and acquisitions are Biodelivery Sciences International, Inc, Hikma Pharmaceuticals, Daiichi Sankyo, Inc, Janssen Pharmaceuticals, Inc, Egalet Corp, among others.

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Related Report:

GLOBAL ANTITHROMBOTIC DRUGS MARKET
https://inkwoodresearch.com/reports/global-antithrombotic-drugs-market-forecast-2019-2027/

GLOBAL ANTI-RHEUMATICS MARKET
https://inkwoodresearch.com/reports/anti-rheumatics-market/

GLOBAL PAIN MANAGEMENT DRUGS MARKET
https://inkwoodresearch.com/reports/global-pain-management-drugs-market-forecast-2019-2027/

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