Opioid is a type of narcotic pain medication, which is used to treat moderate to severe pain, such as, anesthesia, cough suppression, diarrhea suppression, surgical pain, injury or trauma, cancer pain and pain arising from disease. The global opioids market is estimated to account for US$ 51,005.8 Mn in terms of value by the end of 2027.
Global Opioids Market: Drivers
High efficacy of synthetic opioids such as methadone and fentanyl is expected to boost growth of the global opioids market. These synthetically manufactured opioids are used to suppress the chances of getting addicted to natural opioids and resistant to natural opioids.
Global Opioids Market: Opportunities
Increasing R&D in synthesis of hybrids targeting opioid and neurokinin receptors is expected to offer lucrative growth opportunities for market players. For instance, in December 2019, researchers from Medical University of Lodz reported the synthesis, structure–activity relationship, and pharmacological characterization of a series of hybrids combining opioid pharmacophores with either substance P (SP) fragments or neurokinin receptor (NK1) antagonist fragments in order to comprehend the role of the neurokinin system in opioid-induced antinociception.
Global Opioids Market: Restraints
However, increasing cases of counterfeit opioids is expected to hamper growth of the global opioids market. For instance, in June 2019, Drug Enforcement Administration warned regarding sell of counterfeit fentanyl pills and other synthetic opioids.
The Morphine segment in the global opioids market was valued at US$ 13,697.6 Mn in 2018 and is expected to reach US$ 17,766.2 Mn by 2027 at a CAGR of 2.9% during the forecast period. The growth of the segment is attributed to increasing demand for treatment of acute and chronic pain during the forecast period. The Analgesia segment held dominant position in the global opioids market in 2018, accounting for 67.3% share in terms of volume, followed by cough suppression and diarrhoea suppression, respectively. The growth of the segment is attributed to increasing research and development of new drug.
Key players in the market are focused on product approval and launch to expand their product portfolio. For instance, in June 2018, AcelRx Pharmaceuticals, Inc. received the European Commission (EC) approval for DZUVEO for the management of acute moderate to severe pain in adults in medically monitored settings. The market is witnessing increasing M&A activities. For instance, Grünenthal acquired the US-based pharmaceutical company Averitas Pharma in order to expand its presence in the U.S.
Global Opioids Market: Competitive Landscape
Major players operating in the global opioids market include Pfizer, Inc., Boehringer Ingelheim, Janssen Pharmaceuticals, Inc., Actavis Plc., Sanofi SA, Sun Pharmaceutical Industries Ltd., Mallinckrodt Pharmaceuticals, Endo Pharmaceuticals Inc., and Zyla Life Sciences.
Global Opioids Market: Key Developments
In October 2019, AmerisourceBergen, Cardinal Health, McKesson Corporation, Johnson & Johnson, and Teva Pharmaceuticals agreed to pay US$ 50 billion in cash and addiction treatments to resolve opioid cases in U.S. states. In March 2019, Purdue Pharma reached a US$ 270 million settlement in a lawsuit, which claimed its opioids contributed to the deaths of thousands of people.
Scope of the report
“*” marked represents similar segmentation in other categories in the respective section.
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