Oxycodone Drugs Market Envisioned to Reach USD 8.29 Billion by 2032

Oxycodone is a potent opioid analgesic medication used primarily for the management of moderate to severe pain. It is often prescribed for patients who require round-the-clock pain relief. The oxycodone drugs market has experienced significant growth over the years due to various factors, including increased prevalence of chronic pain conditions, rising surgical procedures, and the expanding use of opioids in pain management.

Global Oxycodone Drugs Market size and share is currently valued at USD 5.46 billion in 2024 and is anticipated to generate an estimated revenue of USD 8.29 billion by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 5.4% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2024 - 2032

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Rising incidence of chronic pain disease such as cancer, rheumatoid arthritis, lower back pain, and fibromyalgia is the primary contributor for the oxycodone market expansion. Moreover, the unresponsiveness shown by other medications for the treatment of severe pain management has increased the demand for oxycodone drugs. Furthermore, promising results of these drugs and benefits associated with the extended release oxycodone drugs has increased its prescription volumes. Additionally, better compliance and convenience of less-frequent dosage intervals offered by oxycodone drugs will fuel the market growth in the coming years.

The advent of extended-release capsules coupled with the high prevalence of severe pain among adults are also propelling the market growth. Moreover, the patents owned by market players coupled with their increasing expenses on marketing and promotion will contribute to the market growth. For instance, Collegium Pharmaceutical's Xtampza ER has patent protection until 2036.

The promising results shown by the oxycodone drugs over other opioid medications is also driving the market growth. Moreover, the advent of new drugs with advancements in drug delivery systems such as extended-release formulations will provide long-term opportunity for the oxycodone drugs market growth. The ability of oxycodone to lower the severe pain after surgery coupled with an increasing number of surgical procedures are expected to support the market expansion.

The widespread acceptance of oxycodone drugs as a pain-relieving medication and growing need for oxycodone for the pain management after surgeries are the factors propelling the market growth. Moreover, the strong focus of companies on the regulatory approvals in untapped markets will positively influence the market growth. Furthermore, lack of physical activities, tobacco usage, and obesity are increasing the number of patients suffering from chronic pain. For instance, according to the World Obesity Atlas 2023 Report by the World Obesity Federation, the number of people with overweight or obesity worldwide is expected to increase to 4.0 billion, from 2.6 billion in 2020. Such obese people requiring pain management medications will drive the market growth during the forecast period.

Some of the major players operating in the global market include:

Acura Pharmaceuticals (U.S.)
Alvogen (U.S.)
Amneal Pharmaceuticals LLC. (U.S.)
Ascent Pharmaceuticals, Inc. (U.S.)
Collegium Pharmaceutical (U.S.)
Endo International plc (Ireland)
Epic Pharma, LLC. (U.S.)
Mallinckrodt (Ireland)
Mundipharma International (UK)
Pfizer Inc. (U.S.)
Protega Pharmaceuticals Inc. (U.S.)
Rhodes Pharmaceuticals L.P. (U.S.)
Sun Pharmaceutical Industries Ltd. (India)

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Growth Drivers:

Increasing Prevalence of Chronic Pain Conditions: Chronic pain conditions, such as arthritis, back pain, neuropathic pain, and cancer pain, contribute significantly to the demand for opioid medications like oxycodone.

Rising Surgical Procedures: Surgical procedures often result in acute post-operative pain, for which opioids like oxycodone are commonly prescribed to manage pain during the recovery period.

Expanding Use in Palliative Care: Oxycodone is also used in palliative care settings to alleviate severe pain in patients with advanced cancer and other terminal illnesses.

Applications:

Pain Management: Oxycodone is primarily used for the management of moderate to severe pain, including acute pain following surgery and chronic pain conditions.

Cancer Pain: It is frequently prescribed for patients with cancer-related pain, either as a standalone medication or as part of a multimodal analgesic regimen.

Palliative Care: Oxycodone is an essential component of palliative care, helping to alleviate severe pain and improve the quality of life in patients with advanced terminal illnesses.

Oxycodone Drugs Market Report Highlights

The long-acting segment dominated the market, owing to its benefits for improving pain management and reducing pain intensity variations.
The capsules segment is expected to expand at the highest CAGR, owing to the emergence of extended release capsules.
Hospital segment held the largest market share, owing to the increasing number of surgical procedures and rising hospital admissions.
North America dominated the market, owing to the large volume of oxycodone prescriptions and rising incidences of chronic pain diseases.

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Polaris Market Research has segmented the oxycodone drugs market report based on drug type, dosage form, distribution channel, and region:

Oxycodone Drugs, Drug Type Outlook (Revenue - USD Billion, 2019 - 2032)

Short-acting
Long-acting

Oxycodone Drugs, Dosage Form Outlook (Revenue - USD Billion, 2019 - 2032)

Tablet
Capsule
Injection

Oxycodone Drugs, Distribution Channel Outlook (Revenue - USD Billion, 2019 - 2032)

Hospital Pharmacy
Retail Pharmacy
Online Pharmacy

Oxycodone Drugs, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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This release was published on openPR.