U.S. Opioids Market, by Drugs (Codeine, Fentanyl, Meperidine, Methadone, Morphine, and Hydrocodone), by Therapeutic Application (Pain Management (Neuropathic Pain, Migraine, Back Pain, Osteoarthritis Pain, Cancer Pain, and Others), Cough Treatment, and Diarrhea Treatment), and by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), is estimated to be valued at US$ 16,285.2 Million in 2022 and is expected to exhibit a CAGR of 5.5% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Increased prevalence of cancer and other diseases using opioids for pain management is expected to drive the market growth over the forecast period. For instance, according to the Centers for Disease Control and Prevention, the national public health agency of the U.S, 1,752,735 new cancer cases were reported and 599,589 people died of cancer in 2019
U.S. Opioids Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.
However, the COVID-19 pandemic had a positive impact on the opioids market, owing to the increased opioid overdose deaths (OOD) during this period. For instance, according to an article published by the National Center for Biotechnology Information in April 2022, to examine the impact of COVID-19 on opioid overdoses in Milwaukee County, U.S., data on opioid-related overdose deaths was collected between January 1, 2017, and December 31, 2020. In the study, the stay-at-home order issue on March 23, 2020, was used to divide the study into pre-intervention (pre-pandemic) and post-intervention (pandemic) periods. The average monthly OODs increased by approximately 12. The pre-intervention stage had a peak monthly overdose death of 37. However, in the post-intervention period, Milwaukee County experienced a peak of 57 OODs per month and a minimum of 23 monthly OODs. These differences suggests that the pandemic caused an increase in OODs in Milwaukee, thereby having a significant impact on the opioids market.
U.S. Opioids Market: Key Developments
In November 2018, the U.S. Food and Drug Administration approved a potent new opioid painkiller sufentanil of AcelRx Pharmaceuticals, Inc., a specialty pharmaceutical company.
Browse 27 Market Data Tables and 31 Figures spread through 156 Pages and in-depth TOC on “U.S. Opioids Market”- Forecast to 2030, U.S. Opioids Market, by Drugs (Codeine, Fentanyl, Meperidine, Methadone, Morphine, and Hydrocodone), by Therapeutic Application (Pain Management (Neuropathic Pain, Migraine, Back Pain, Osteoarthritis Pain, Cancer Pain, and Others), Cough Treatment, and Diarrhea Treatment), and by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies)
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Moreover, increasing prevalence of diseases such as osteoarthritis is expected to drive the market growth over the forecast period. Symptomatic knee osteoarthritis (SKOA) is a chronic, disabling condition that requires long time pain management. Thus, to manage the pain associated with SKOA, opioids are employed, which is expected to drive the market growth. For instance, according to an article published by PubMed, in February 2021, over 800,000 SKOA patients in the U.S. use opioids on a prolonged basis.
Key Takeaways of the U.S. Opioids Market: