Opioids Market - According to The National Health Interview Survey the Prevalence of High-Impact Chronic Pain Was 7.4% In the U.S.

According to a new report published by Allied Market Research, titled, "Opioids Market," The Opioids Market size was valued at $4.4 billion in 2020 and is estimated to reach $6.1 billion by 2030, growing at a CAGR of 3.2% from 2021 to 2030.

The opioid market trend is the increase in the use of opioid pain medications and the increase in the geriatric population with bone pain. Additionally, the increase in disposable income in developing economies such as India, China, and others is contributing to the growth of the opioid market. However, the process of relying on the opioids (opioid) around the world and implementation of government rules are all planes to form market growth. In addition, increase of death rates because of these drugs is a great thing that prevents market growth. For example, according to the National Institute of Drug Abuse, more than 130 people in the US die every day due to an overdose of opioids.

♦ 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐅𝐫𝐞𝐞 𝐏𝐃𝐅:
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The Major Key Players Are Covered in This Report:
• Purdue Pharma
• Boehringer Ingelheim
• Janssen Pharmaceuticals, Inc.
• Sanofl
• Sun Pharmaceuticals
• Mallinckrodt Pharmaceuticals
• Endo Pharmaceuticals Inc.
• Allergan, Plc
• Pfizer, Inc.

COVID-19 Impact Analysis -
• Coronavirus (COVID-19) was discovered in December 2019 in Hubei province of Wuhan city in China.
• The disease is caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), which is transmitted among humans.

After being discovered in Wuhan, the disease quickly spread to other parts of the world. Also, this virus causes different symptoms in patients, which range from normal symptoms to severe symptoms. For example, common symptoms include fever, dry cough, and fatigue. However, more serious symptoms include shortness of breath or shortness of breath, chest pain or pressure, and loss of speech or movement. In addition, the virus has a high potential for lethality in the geriatric population. On March 11, 2020, the World Health Organization confirmed that COVID-19 qualifies as a pandemic. In addition, only a few vaccines have received emergency approval for the prevention of COVID-19. As a result, social distancing is considered the most important thing to stop the spread of this disease. Furthermore, to maintain social distancing, various countries across the world have adopted nationwide lockdowns.

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. Also, increasing disposable income in developing economies like India, China, and others is helping the market. However, the rise of drug addiction (opioid problem) across the world and the implementation of strict government regulations for the prescription of opioids are expected to restrain the growth of the market. In addition, the increasing death rate due to overdose of these drugs is a major factor restraining the market growth. For example, according to the National Institute of Drug Abuse, more than 130 people in the United States die every day from opioid overdose.

♦ 𝐅𝐨𝐫 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐨𝐟 𝐑𝐞𝐩𝐨𝐫𝐭:
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North America accounted for more than 45.23% of the global market share in 2020 and is expected to remain dominant throughout the forecast period. This was attributed to an increase in demand for opioid drugs, a rise in healthcare expenditures, and increase in the number of surgeries. Asia-Pacific is projected to register the highest CAGR of 3.5% during the forecast period, owing to an increase in the incidence of the population suffering from various diseases such as migraine, arthritis, and cancer pain disease and a rise in the aging population. In addition, an increase in healthcare expenditure offers a lucrative opportunity for market growth.

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