Press release
Global Narcotic Drugs Market Projected to Surpass $17.79 Billion by 2029 with 4.6% Annual Growth
Narcotic Drugs Market
The narcotic drugs market has experienced steady growth in recent years. It is anticipated to increase from $14.26 billion in 2024 to $14.85 billion in 2025, reflecting a CAGR of 4.1%. The past growth can be attributed to the increasing medical demand, rising public health concerns, improved access to healthcare, growing prevalence of chronic pain, and government initiatives to enhance pain management.
The narcotic drugs market is expected to show steady growth in the next few years. It will reach $17.79 billion by 2029, with a CAGR of 4.6%. The growth can be attributed to rising demand for generic narcotic drugs, the expansion of the pharmaceutical industry, the increasing use of narcotics in palliative care, and the growing demand for minimally invasive surgeries. Major trends include pharmaceutical innovations, the growth of telemedicine and remote monitoring, the development of non-opioid alternatives, and the use of AI in drug discovery and development.
What Is Contributing to the Growth of the Narcotic Drugs Market?
The rising occurrence of chronic diseases is anticipated to boost the growth of the narcotic drug market. Chronic diseases, which last for three months or more, tend to worsen over time. Narcotic drugs are widely used for managing chronic conditions such as cancer, chronic pain syndrome, terminal illnesses, and severe arthritis. For example, as per the National Health Service (NHS), a UK-based government organization, in June 2024, over half a million (549,000) additional individuals in England were identified as being at risk of type 2 diabetes, raising the total number of individuals with pre-diabetes to 3,615,330-an almost 20% increase from 3,065,825 in 2022. Therefore, the rising prevalence of chronic diseases is driving the growth of the narcotic drug market.
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Which Key Market Leaders Are Driving Narcotic Drugs Industry Growth?
Major companies operating in the narcotic drugs market are Pfizer Inc., Johnson and Johnson Limited, AbbVie Inc., Novartis AG, AstraZeneca PLC, Sanofi S.A., Takeda Pharmaceutical Company Limited, Boehringer Ingelheim International GmbH, Viatris Inc., Teva Pharmaceutical Industries Ltd., Daiichi Sankyo Company Limited, Sun Pharmaceutical Industries Ltd., Purdue Pharma LP, Hikma Pharmaceuticals PLC, Endo Pharmaceuticals Inc., Amneal Pharmaceuticals LLC, Lupin Ltd., Mallinckrodt Pharmaceuticals, Alvogen Inc., Indivior Inc., Impax Laboratories Inc., Collegium Pharmaceutical Inc., Lannett Co Inc., Par Pharmaceutical Inc., West-Ward Pharmaceuticals Corp.
What Are the Emerging Trends in the Narcotic Drugs Industry?
Leading companies in the narcotic drug market are prioritizing product development and innovation to offer reliable solutions and strengthen their market standing. For example, in May 2023, Indivior PLC, a pharmaceutical company based in the US, introduced OPVEE (nalmefene) nasal spray, an opioid overdose rescue medication effective against natural and synthetic opioids, including fentanyl. OPVEE is recommended for the emergency treatment of suspected opioid overdoses in adults and pediatric patients aged 12 years and older, particularly in cases involving respiratory and central nervous system depression.
What Are the Main Segments in the Narcotic Drugs Market?
The narcotic drugs market covered in this report is segmented -
1) By Drug: Opi*um, Her*oin, Codeine, Oxycodone, Other Drugs
2) By Source: Natural, Semi-Synthetic, Synthetic
3) By Indication: Pain Management, Cough, Diarrhea, Dysentery, Asthma, Other Indications
4) By Distribution Channel: Hospital Pharmacy, Online Pharmacy, Retail Pharmacy
5) By End User: Hospitals, Homecare, Specialty Clinics, Other End Users
Subsegments:
1) By Opi*um: Raw Opi*um, Opi*um Extracts, Opi*um Derivatives
2) By Her*oin: Diacetylmorphine, Her*oin Hydrochloride, Her*oin Acetate
3) By Codeine: Codeine Phosphate, Codeine Sulfate
4) By Oxycodone: Oxycodone Hydrochloride, Oxycodone Acetaminophen, Controlled-Release Oxycodone
5) By Other Drugs: Fentanyl, Morphine, Hydromorphone, Methadone, Buprenorphine
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Which Geographic Area Leads the Narcotic Drugs Market?
Asia-Pacific was the largest region in the narcotic drugs market in 2024. The regions covered in the narcotic drug market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Is Covered In The Narcotic Drugs Global Market Report?
- Market Size Analysis: Analyze the Narcotic Drugs Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Narcotic Drugs Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Narcotic Drugs Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Narcotic Drugs Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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