Digital healthcare space to be encompassed by the Opioids Market at a CAGR of 3.3%

Worldwide revenue from the opioids market stands at US$ 42.9 Bn in 2022, with the global market estimated to surge ahead at a CAGR of 3.3% to reach a valuation of US$ 61.1 Bn by the end of 2033.

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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