Press release
Digital healthcare space to be encompassed by the Opioids Market at a CAGR of 3.3%
The opioids market is a global pharmaceutical market that deals with the production and sale of drugs that are used to relieve pain. Opioids are a class of drugs that act on the nervous system to produce pain relief. They are commonly used to treat chronic pain conditions such as cancer, back pain, and arthritis. The opioids market includes both prescription and non-prescription drugs.
Market Overview:
As assessed by Persistence Market Research, morphine is expected to hold a largest market value of US$ 15.9 Bn by 2023. Overall, opioids market sales account for approximately 55.6% revenue share in the global analgesics market, which was valued at around US$ 77.3 Bn at the end of 2022. The global market for opioids recorded a historic CAGR of 2.7% in the last 6 years from 2016 to 2022.
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Drivers and Restraints
The drivers of the opioids market include the increasing incidence of chronic pain conditions, rising geriatric population, growing prevalence of cancer, and increasing awareness about the benefits of opioids. However, the market is restrained by concerns regarding the misuse and abuse of opioids, side effects of opioids, stringent regulations, and the high cost of opioid therapy. These factors have a significant impact on the growth of the opioids market, and the market is expected to witness increased regulation in the coming years due to growing concerns about the misuse of opioids.
Market Segmentation:
Product:
Morphine
Codiene
Fentanyl
Meperidine
Methadone
Application:
Analgesia
Cough Suppression
Diarrhea Suppression
Distribution Channel:
Hospital Pharmacies
Retail Pharmacies
Drug Store
Clinics
Others
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Regional Analysis:
North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East & Africa
Key Players in the Market:
Pfizer Inc.,
Boehringer Ingelheim International GmbH,
Janssen Pharmaceuticals, Inc.,
Sanofi (SAIS),
Sun Pharmaceutical Industries Ltd.,
Actavis Plc.
Mallinckrodt Pharmaceuticals
Endo Pharmaceuticals Inc.
Purdue Pharma L.P.,
Assertio Therapeutics, Inc.
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About Us:
Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.
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