U.S. OPIOIDS MARKET ANALYSIS

Market Size and Trends

The U.S. opioids market is estimated to be valued at USD 7.06 Bn in 2024 and is expected to reach USD 9.10 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031.

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Various factors like increasing number of patients with chronic pain, growing geriatric population who are more prone to chronic conditions, and injuries are expected to drive greater uptake of prescription and over-the-counter pain medications. However, the outbreak of opioid crisis in the country is prompting regulatory reforms to curb non-medical use and misuse of highly addictive opioid drugs. Stricter rules for prescription practices and emphasis on non-opioid pain therapies is expected to moderately impact the revenues of prescription opioids market. Overall industry players are focusing on the development of pain medications with reduced abuse potential to continue meeting patients' medical needs going forward.

 Increasing Incidence of Chronic Diseases

Increasing incidence of chronic diseases in the U.S. over the past few decades is expected to drive the market growth. Chronic diseases are characterized by their long-lasting nature and often require ongoing medical management. Heart disease, diabetes, obesity, hypertension, cancer, and chronic respiratory illnesses such as asthma and Chronic obstructive pulmonary disease (COPD) are most prevalent chronic diseases. These conditions collectively account for a staggering proportion of the U.S.’s healthcare burden. For instance, in December 2022, according to the data published by the Centers for Disease Control and Prevention, approximately 60% of adults in the U.S. are afflicted with at least one chronic disease, and a significant 40% of adults suffers from two or more chronic conditions. This prevalence underscores the profound impact of chronic diseases on the nation's health landscape. Chronic diseases stand as a primary cause of both mortality and disability, and these significantly contribute to the staggering annual healthcare expenditure of US$ 4.1 trillion in the U.S., thus making it a major driver of healthcare costs.

Market Concentration and Competitive Landscape

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Increasing adoption of organic growth strategies, such as product launches by key market players, are expected to drive the market growth over the forecast period. For instance, in July 2022, Protega Pharmaceuticals LLC, a specialty pharmaceutical company that aims to advance solutions in the field of prescription drug abuse deterrence, announced the commercial launch of RoxyBond (oxycodone) immediate-release (IR) tablets in the U.S.

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The major factors that hinder growth of the U.S. opioids market include increased opioid abuse and side effects associated with opioids. For instance, according to the data provided by the National Institute on Drug Abuse, a U.S., federal government research institute, in January 2022, nearly 92,000 persons in the U.S. died from drug-involved overdose in 2020, including illicit drugs and prescription opioids.

Market Opportunities – Increasing Facility Expansion by Key Players

For instance, in February, 2023, Veranova, L.P.’s subsidiary, Macfarlan Smith Ltd., a global leader in process development and manufacturing of Codeine APIs, announced the facility expansion of its mid-scale active pharmaceutical ingredient (API) manufacturing capabilities at its Edinburgh, U.K. facility to handle highly active APIs and intermediates, to enable growth in the generic opioid analgesic and anti-addiction markets.

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The drug type segment includes oxycodone, hydrocodone, morphine, codeine, methadone, and others (meperidine, etc.). The oxycodone subsegment is expected to have 38.9% of the market share in 2024 owing to its widespread prescription rate for treating moderate to severe pain. As the U.S. population ages and the prevalence of chronic pain conditions rises, doctors increasingly rely on oxycodone medications like Percocet to manage patients' long-term pain. This drug also offers an attractive balance of potency and cost effectiveness for both doctors and health insurers. While guidelines aim to curb overprescription, oxycodone still leads in filling short-term prescriptions following surgeries or injuries. Its familiarity and easy oral delivery have made it a top choice among physicians and hospitals. With an aging population driving more pain treatments, oxycodone is well positioned to maintain its dominant prescription volumes over the near future.

Insights, By Therapeutic Application: Growing Prevalence of Chronic Pain Conditions

The therapeutic application segment includes pain management, cough treatment, and diarrhea treatment. The pain management subsegment is expected to hold 56.3% of the market share in 2024. According to estimates, over 100 million Americans suffer from chronic pain. Opioids play a vital role in managing debilitating pain for many patients with conditions like lower back pain, arthritis, and cancer. Drug makers focus enormous R&D and marketing budgets on advancing opioids targeting leading pain indications. This focus has supported opioids like oxycodone, hydrocodone, and morphine in gaining the largest market share among pain drugs. Despite heightened regulation, pain treatments will continue fueling high demand for opioids in the near term.

Insights, By Distribution Channel: Healthcare System Dynamics

The distribution channel segment includes hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies subsegment is expected to have 61.2% of the market share in 2024 due to their role serving patients undergoing acute pain treatments. Hospitals handle a large volume of surgeries, injuries, and cancer treatments annually - situations often requiring parenteral opioids during initial inpatient care. Their pharmacies are well-stocked with standing orders of injectable opioids for post-op and palliative care use across departments. Additionally, hospitals control opioid distribution to affiliated clinics and long-term care facilities. As healthcare moves progressively towards centralized care systems, hospital networks will extend their influence on opioid prescribing to sustain their share of this market.

Market Report Scope

Key Developments

• In August, 2023, Emergent BioSolutions Inc., a multinational specialty biopharmaceutical company, announced that the NARCAN Naloxone hydrochloride (HCl) Nasal Spray 4 mg is available on shelves nationwide in U.S. and online in September, 2023. NARCAN Nasal Spray, with the same safe and effective 4 mg formulation, device design, and original prescription dose, can reverse the effects of opioids including fentanyl. NARCAN Nasal Spray has a manufacturer’s suggested retail price (MSRP) of US$ 44.99 each carton, roughly US$ 22.50 per dose.
• In January, 2023, Hikma Pharmaceuticals PLC, an international pharmaceutical company, announced the launch of Naloxone Hydrochloride Injection, USP, 2mg/2mL in prefilled syringe (PFS) form. The drug that was launched in the U.S. and can be used for the emergency treatment of a known or suspected opioid overdose. Hikma Pharmaceuticals PLC's portfolio of addiction therapy treatments includes a naloxone vial and KLOXXADO (naloxone HCl) nasal spray 8mg, as well as buprenorphine and methadone medication options to meet the urgent needs of U.S. patients and communities.
• In March 2021, U.S. Food and Drug Administration (FDA) approved hydrocodone bitartrate tablet, indicated for the management of pain manufactured by Alvogen, a U.S.-based company that focuses on developing, in-licensing, manufacturing, and marketing pharmaceutical products
• In November 2020, the U.S. Food and Drug Administration (FDA) approved Arymo ER (morphine sulfate) tablets C-II for the management of pain severe enough to require daily, around-the-clock, long-term opioid treatment.

*Definition: Opioids are the class of drugs that include illicit drugs such as heroin, codeine, fentanyl, meperidine, methadone, morphine, hydrocodone, diphenoxylate, hydromorphone, methylphenidate, oxycodone, and oxymorphone. Opioids are prescribed for pain management and treatment of cough and diarrhea.

Market Segmentation

•  Drug Type Insights (Revenue, USD Bn, 2019 - 2031)
  • Oxycodone
  • Hydrocodone
  • Morphine
  • Codeine
  • Methadone
  • Others (Meperidine, etc.)
•  Therapeutic Application Insights (Revenue, USD Bn, 2019 - 2031)
  • Pain Management
    • Neuropathic Pain
    • Back Pain
    • Migraine
    • Osteoarthritis Pain
    • Cancer pain
    • Others
  • Cough Treatment
  • Diarrhea Treatment
•  Distribution Channel Insights (Revenue, USD Bn, 2019 - 2031)
  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies
• Key Players Insights
  • Pfizer, Inc.
  • Mallinckrodt Pharmaceuticals
  • Hikma Pharmaceuticals PLC
  • Mundipharma International
  • Boehringer Ingelheim International GmbH.
  • Collegium Pharmaceutical
  • Sun Pharmaceutical Industries Ltd.
  • Jazz Pharmaceuticals, Inc.
  • Curaleaf
  • Purdue Pharma L.P.
  • Cresco Labs
  • Trulieve
  • Teva Pharmaceutical Industries Ltd.
  • Green Thumb Industries
  • Trevena, Inc.
  • Par Pharmaceutical 
  • Emergent BioSolutions Inc.