Opioids Market to Surpass US$ 48,045.4 Million by 2027 - Coherent Market Insights

Published On : Sep 19, 2019

Global Opioids Market, By Product Type (Agonist (Codeine, Fentanyl, Meperidine, Methadone, Morphine, Hydrocodone, Diphenoxylate, Hydromorphone, Methylphenidate, Oxycodone, and Oxymorphone) and Antagonist (Buprenorphine, Naloxone, Naltrexone, Methylnaltrexone, and Nalbuphine)), By Application (Pain Management (Neuropathic Pain, Migraine, Back Pain, Osteoarthritis Pain, Cancer Pain, and Others), Cough Treatment, and Diarrhea Treatment), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was valued at US$ 31,994.7  million in 2019 and is expected to exhibit a CAGR of 5.2% over the forecast period (2019 - 2027), as highlighted in a new report published by Coherent Market Insights.

Increasing U.S. FDA approvals of de-addiction drugs to overcome drug addiction, rising government support for drug overdose awareness, and increasing number of R&D and pipeline drugs for various therapeutic areas such as oncology, pain management, and others are major factors that are expected to drive growth of the global opioids market.

Increasing incidence of drug overdose and deaths are driving regulatory bodies to focus on approving new medications made of opioids such as hydrocodone, codeine, oxycodone for the treatment of drug de-addiction to help people with severely addicted to drugs such as cocaine, heroin, methamphetamine, which is expected to accelerate the opioids market growth over the forecast period. For instance, in November 2015, the U.S. FDA approved Narcan nasal spray, the first U.S. FDA approved nasal spray version of naloxone hydrochloride, which is a life-saving medication that can temporarily stop or reverse the effects of an opioid or heroin overdose.

Following the approval of Narcan by the U.S. FDA, in February 2016, ADAPT Pharma Inc. announced the availability of Narcan naloxone hydrochloride nasal spray for the treatment of opioid overdose in the U.S. in 17 U.S. states, where no prescription is required. Furthermore, in October 2018, Emergent BioSolutions Inc. announced that it completed the acquisition of ADAPT Pharma Inc. and its flagship product NARCAN (naloxone HCl) nasal spray.

Manufacturers in the opioids market are engaged in development of new drugs and R&D activities to strengthen its product pipeline. For example, Nektar Therapeutics’ NKTR-181, a first-in-class opioid analgesic, is a new chemical entity (NCE) that is the first full mu-opioid agonist molecule designed to provide potent pain relief without high level of euphoria. The new chemical entity is under clinical trials to prove its clinical application, safety, and efficacy. 

Browse 30 Market Data Tables and 42 Figures spread through 207 Pages and in-depth TOC on "Global Opioids Market, By Product Type (Agonist (Codeine, Fentanyl, Meperidine, Methadone, Morphine, Hydrocodone, Diphenoxylate, Hydromorphone, Methylphenidate, Oxycodone, and Oxymorphone) and Antagonist (Buprenorphine, Naloxone, Naltrexone, Methylnaltrexone, and Nalbuphine)), By Application (Pain Management (Neuropathic Pain, Migraine, Back Pain, Osteoarthritis Pain, Cancer Pain, and Others), Cough Treatment, and Diarrhea Treatment), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2027"

To know the latest trends and insights related to opioids market, click the link below:

https://www.coherentmarketinsights.com/market-insight/opioid-drugs-market-1017

Many government bodies are taking initiatives to reduce the risk of drug overdose in drug addicted population. Thus, increasing awareness programs by government bodies to fight drug addiction, substance abuse, and misuse is expected to drive the opioid market growth in the near future. For example, on August 31st every year, International Overdose Awareness Day, a global event, is organized, which aims to raise awareness that overdose death is preventable and to reduce the stigma associated with drug-related death. This event also provides information about risks of drug overdose and community services preventing drug-related harm through evidence-based policy and practice.

Key Takeaways of the Opioids Market:

  • The global opioids market is expected to expand at a CAGR of 5.2% over the forecast period (2019–2027), owing to increasing product launches, U.S. FDA approvals and pipeline drugs.
  • Among product type, agonist segment is expected to account for major revenue share in 2027. Regulatory bodies are approving various pain relieving opioid analgesic drugs to meet the increasing demand for opioids, which is expected to drive growth of the agonist segment in the market. For instance, in November 2014, the U.S. FDA approved Hysingla ER (hydrocodone bitartrate), an extended-release (ER) opioid analgesic to treat pain which is severe enough to require daily medication, long-term opioid treatment and for which alternative treatment options are inadequate. Hysingla ER has approved labeling describing the product’s abuse-deterrent properties.
  • Major players operating in the global opioids market include Purdue Pharma L.P, Titan Pharmaceuticals, Inc, Boehringer Ingelheim GmbH, Janssen Pharmaceuticals, Inc, Sanofi S.A., Mallinckrodt Pharmaceuticals, Egalet Corporation, Endo Pharmaceuticals Inc., Allergan Plc, Pfizer Inc, and Sun Pharmaceutical Industries Ltd

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