Opioids Global Market Report 2024 - By Report, Size, Share, Industry Growth, Forecast To 2033

The opioids market size has grown steadily in recent years. It will grow from $22.77 billion in 2023 to $23.54 billion in 2024 at a compound annual growth rate (CAGR) of 3.4%. The growth in the historic period can be attributed to pain management, surgical procedures, palliative care, regulatory environment.

The opioids market size is expected to see steady growth in the next few years. It will grow to $26.51 billion in 2028 at a compound annual growth rate (CAGR) of 3.0%. The growth in the forecast period can be attributed to non-cancer pain indications, regulatory changes, telemedicine and remote prescribing, chronic pain management. Major trends in the forecast period include opioid-sparing strategies, medication-assisted treatment (mat), risk mitigation, public health initiatives.

Market Overview -
Opioids refer to a group of powerful medications extracted or manufactured from the opium* poppy plant that works on the neurological system to alleviate the effects of pain. They are extremely useful in the treatment of moderate to severe pain, such as post-surgery pain, cancer-related pain, or chronic pain disorders, as well as coughing and diarrhea.

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Growing Surgical Procedures Fueling Demand In The Opioids Market
Rising surgical procedures are expected to propel the growth of the opioids market going forward. Surgical procedures are defined as medical treatments that involve making an incision with tools, typically done in an operating room and typically requiring anesthetic or breathing support. Opioids are used during surgical procedures for treating pain and as anesthesia adjuncts or primary anesthetic agents. For instance, in August 2023, Organization for Economic Co-operation and Development, a France-based intergovernmental organization, the total number of cataract surgical procedures performed in the Czech Republic increased by 8.4% from 131,612 procedures in 2021 to 142,670 procedures in 2022. Further, the total number of laparoscopic repairs of inguinal hernia surgical procedures performed in Turkey increased by 35.2% from 18,739 in 2021 to 25,348 in 2022. Therefore, the rising number of surgical procedures will drive the opioid market.

Competitive Landscape -
Major players in the opioids market are Pfizer Inc., Johnson & Johnson Inc., AbbVie Inc., Sanofi S.A, AstraZeneca PLC, Viatris Inc., Teva Pharmaceutical Industries Limited, Sandoz Inc., Sun Pharmaceutical Industries Limited, Aurobindo Pharma Limited, Purdue Pharma L.P., Dr. Reddy's Laboratories Ltd., Hikma Pharmaceuticals PLC, Endo Pharmaceuticals Inc., Amneal Pharmaceuticals Inc., Mallinckrodt Pharmaceuticals PLC, Alkermes PLC, Lannett Co Inc., Par Pharmaceutical Inc., Mayne Pharma Group Ltd., Cephalon LLC, Insys Therapeutics Inc., Janssen Pharmaceuticals Inc., Rhodes Pharmaceuticals L.P, KVK Tech Inc.

Innovative Drug Solutions Transforming The Opioid Market Landscape
Major companies operating in the opioid market are focused on innovating advanced drug solutions to intensify their position. The discovery of new medications can treat diseases and improve healthcare and scientific knowledge. For instance, in May 2023, Braeburn Pharmaceuticals Inc., a US-based provider of solutions for treating opioid addiction, stated that the US Food and Drug Administration authorized Brixadi (buprenorphine) extended-release injectable for subcutaneous utilize (beneath the skin) for the treatment of direct to extreme opioid utilize clutter (OUD). It is the primary and sole week-after-week and month-to-month subcutaneous infusion for direct to serious OUD and the primary buprenorphine injectable using FluidCrystal Injection Depot Technology. Patients who receive oral buprenorphine-containing medications can be transitioned to equal dosages if the prescription advice is followed.

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Key Segments -
The opioids market covered in this report is segmented -
1) By Product Type: Methadone; Codeine; Fentanyl; Oxycodone; Morphine; Hydrocodone; Other Product Types
2) By Receptor Binding: Strong Agonist; Mild To Moderate Agonist
3) By Basis Of Indication: Inflammatory Condition; Musculoskeletal Pain; Neuropathic Pain; Cancer Pain
4) By Distribution Channel: Hospital; Retail Pharmacies; Online Pharmacies
5) By Application: Pain Management; Cough Treatment; Diarrhea Treatment

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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