Opioids Market - Technical Innovations & Future Market Trends
Factors such as intense focus of generic manufacturers towards Abuse-Deterrent Formulation (ADF), rising palliative care facilities, and reformed regulations for opioids prescription are anticipated to fuel the opioids market growth in North America and Europe. Intense focus on palliative care and increasing healthcare expenditure are major factors that propel the opioids market growth. Also, rise in the incidence of orthopedic disorders & chronic pain are expected to fuel the market growth. Also, increase in disposable income and upsurge in the global aged population are expected to drive the global opioids market growth. However, the emergence and cannabis legalization as an opioids alternative are expected to hamper the market growth.
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The global opioids market is segmented on the basis of product type, application, and geography. Depending on product type, it is segmented into morphine, codeine, meperidine, methadone, fentanyl, and hydrocodone. Based on application, the opioid market is classified into diarrhea treatment, pain management, and cough treatment. The pain management market segment is further sub divided into back pain, osteoarthritis pain, neuropathic pain, cancer pain, migraine and others.
Based on regions, the global opioids market is divided into North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and Latin America. North America commands the majority of the market share, followed by Europe in the global market. It is anticipated that the rate of growth of opioids market will rise in Asia-Pacific region during future period. Also, the major companies are focusing on emerging countries to tap the market share and expand customer base as well as to meet the rising demand form this region.
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The major companies that provide opoids include Sun Pharmaceutical Industries Ltd., Endo Pharmaceuticals Inc., Pfizer Inc., Actavis Plc., Janssen Pharmaceuticals, Inc., Boehringer Ingelheim, Sanofi, Mallinckrodt Pharmaceuticals, Purdue Pharma, and Egalet.
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