Opioids Market By Regional Analysis with Forecast upto 2025
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The leading molecules in this segment that constituted about 65% of the total opioids market include OxyContin (oxycodone), Nucynta (tapentadol), Rybix and Ultram (tramadol), Exalgo (hydromorphone), Ultiva (remifentanil) and fentanyl.The remaining 35% market revenue was contributed by other generic opioids as well as combination formulations of NSAIDs with opioids.The actual market scenario for this drug class, however, could be different due to the strong product pipeline, with two major entries MoxDuo IR (morphine/oxycodone) and Remoxy (oxycodone) set to hit the market in 2016. The market entry of these two drugs is expected to boost growth of the overall opioids market during the forecast period. The number of patients suffering from chronic pain is on a constant rise globally. Thus, increasing incidence of chronic pain conditions will continue to encourage the use of pain management drugs, thereby driving the opioids market. Doctors usually prescribe medicines in the initial stages of pain, followed by other treatment options. Prescription drugs are easy to use and economical and are expected to support the growth of the opioids market globally. Prescription drug abuse is the major factor which will limit the growth of the global opioids market.
The global opioids market has been segmented by type, geography, and distribution channel. The market by type includes endogenous (enkephalins, endorphins), opium alkaloids, and synthetic and semisynthetic opioids. The market for semisynthetic and synthetic opioids like fentanyl and oxycodone are expected to grow during the forecast period due to their fast and potent analgesic activity. Based on distribution channels, the global opioids market has been divided into retail pharmacies, hospital pharmacies, and online pharmacies. The hospital pharmacy segment is expected to support the growth of the global opioids market due to high demand for pain killers in hospitals globally.
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Based on geographic segmentation, the global opioids market is segmented into five key regions: Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. According to the U.S. Institute of Medicine, approximately 100 million adults suffered from common chronic conditions such as low back pain followed by migraine and neck pain. North America is expected to be a major contributor to the global opioids market since it has the maximum percentage of population suffering from pain. Europe follows closely due to high prevalence rate of various diseases such as orthopedic and cancer. India, China, and Japan are the most developing countries in Asia Pacific and hence fuel the growth of the global opioids market.
The major players active in the global opioids market includes Purdue Pharma, Pfizer, Inc., QRxpharma limited, Endo Pharmaceuticals Inc., Johnson & Johnson Services, Inc., Mylan N.V., and AbbVie Inc.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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