Opioids Market Size, Share, Trends, Global Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

  • TBI856332
  • August 01, 2019
  • Global
  • 132 pages
  • HCCResearch
                                              

Abstract, Snapshot, Market Analysis & Market Definition: Global Opioids Market

The global Opioids market size is projected to reach US$ 29.3 billion by 2026, from US$ 26.32 billion in 2020, at a CAGR of 1.8% during 2021-2026. Increasing prevalence of diseases that cause chronic pain, such as cancer, postsurgical pain, lower back pain, fibromyalgia, and arthritis, is driving the market. The market is being strictly regulated by the U.S. FDA due to a substantial number of drug-abuse deaths registered in the country. The FDA has released specific guidelines to manufacture, market, store, and sell opioid products. For instance, removal of OTC cough syrup containing opioids is a result of guidelines set by the regulatory body. In addition, prescription by healthcare professionals is being highly regulated. Long-term use of opioids can lead to drug addiction and dependency and increase in drug abuse is resulting in high death rates. For instance, according to the American Society of Addiction Medicine, in 2014, around 18,893 people died from drug overdose and approximately 10,574 deaths were reported because of heroin overdose. In 2014, it was reported that more than six out of 10 deaths are due to opioids overdose, which included heroin and opioid pain relievers. The highest deaths were observed due to synthetic variants, which included 5,500 deaths in 2014. Considering the high death rate associated with opioid dependency and abuse, governments in U.S. and other countries advocate against the use of these substances. In January 2019, Medicare established new opioid prescribing guidelines that will affect Medicare Part D beneficiaries. Part D plans are projected to limit early opioid dispensing to a 7-day supply or less. This guideline will impact Medicare patients who have not filled an opioid prescription lately. If a physician thinks that an opioid inexperienced patient will require more than a 7-day supply in the beginning, the provider can apply for a coverage determination instead of the patient attesting to the medical need for a supply more than 7 days. Thus, the new guidelines are expected to limit the abuse rate in U.S. Once extensively stigmatized, medical marijuana is now projected as the possible antidote to the epidemic that has led to two-thirds of deaths annually in U.S. Recent studies have observed a substantial decrease in both overdose deaths and drug abuse from prescription painkillers in states where marijuana has been legalized. Pharma and biotech companies believe that medical marijuana products will become the prevailing opioid substitute for chronic pain management and provide a wide variety of other beneficial therapies.

Market Segmentation, Outlook & Viewpoint: Global Opioids Market

Product Market Segmentation & Outlook (Revenue, USD Billion, 2014 - 2026)

Immediate-release/Short-acting

Immediate-release/Short-acting Opioid, by Product

  • Codeine
  • Oxycodone
  • Hydrocodone
  • Fentanyl
  • Morphine
  • Hydroxymorphone
  • Oxymorphone
  • Propoxyphene
  • Other IR

Immediate-release/Short-acting Opioid, by Application

  • Pain Relief
  • Anesthesia
  • Cough Suppression
  • Diarrhea Suppression
  • De-addiction

Extended-release/Long-acting

  • Extended-release/Long-acting Opioid, by Product
  • Oxycodone
  • Hydrocodone
  • Methadone
  • Fentanyl
  • Morphine
  • Oxymorphone
  • Tapentadol
  • Buprenorphine
  • Hydromorphone
  • Other ER

Extended-Release/Long-Acting Opioid, by Application

  • Pain Relief
  • Anesthesia
  • Cough Suppression
  • Diarrhea Suppression
  • De-addiction

Application Market Segmentation & Outlook (Revenue, USD Billion, 2014 - 2026)

  • Pain Relief
  • Cancer Pain
  • Postoperative Pain Management
  • Low-back Pain
  • Orthopedic
  • Neuropathic Pain
  • Fibromyalgia
  • Anesthesia
  • Cough Suppression
  • Diarrhea Suppression
  • De-addiction

Key Players, Recent Developments & Regional Insights: Global Opioids Market

ER was the largest segment in 2018 owing to its high usage in chronic pain management. However, the abuse and misuse of these drugs have resulted in a serious public health crisis. As a result of this, in September 2018, the U.S. FDA released its final Opioid Analgesic Risk Evaluation and Mitigation Strategy (REMS) for IR and ER opioids. This plan will help reduce the overall exposure to these drugs and consequently will reduce the addiction rate. Recently, the U.S. FDA discontinued a wide variety of opioids from the market to limit its abuse in the country. For instance, the U.S. FDA discontinued Vicodin (Hydrocodone) and Percocet (Oxycodone), the most widely prescribed opioids, from the market. In recent years, the decline in opioid prescriptions have been observed. In 2017, the opioid prescription rate reduced by 10.2% from 2016. Hence, these factors are expected to limit the growth of the opioids market over the forecast period.

Application Insights

Based on application, the global market is segmented into pain relief, anesthesia, cough suppression, diarrhea suppression, and de-addiction. In 2018, the pain relief segment dominated the market mainly due to high usage in pain management therapies. However, product usage for pain is expected to decline over the forecast period owing to implementation of new regulatory framework. A new guideline has been designed by the CDC for Prescribing Opioids for Chronic Pain. According to the new guideline, it has been recommended that non-opioid therapy should be preferred for chronic pain other than palliative, end-of-life care, and active cancer.

Regional Insights

North America held the largest market share in 2018 as consumption is the highest in this region. However, the region is likely to witness a decline in their market share over the forecast period owing to rising government initiatives to combat the crisis in U.S. In June 2018, the U.S. government launched a public awareness advertising campaign to combat addiction. In addition, some of the opioid products such as Purdue Pharma OxyContin have been discontinued in U.S. and Canada. Asia Pacific is expected to witness the fastest growth in the coming years as companies such as Purdue Pharma are shifting their focus towards this region with an aim to strengthen their position in the market.

Opioids Market Share Insights

Some of the key market players are Purdue Pharma L.P.; Allergan; West-Ward Pharmaceuticals Corporation; Janssen Pharmaceuticals, Inc.; Pfizer, Inc.; Egalet Corporation; and Sun Pharmaceutical Industries Limited. Key players are focusing on expanding their business in different regions to increase their market share. For Instance, Purdue Pharma is entering rapidly into Asia, Latin America, and Middle East and Africa. The company is organizing awareness programs where doctors are urged to prescribe painkillers to help patients overcome opiophobia.

Key Insights Covered: Global Opioids Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Opioids industry. 2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Opioids industry. 3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Opioids industry. 4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Opioids industry. 5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Opioids industry.

Research Methodology: Global Opioids Market

  • Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  • Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  • Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other

Table Of Contents
Chapter 1 Methodology and Scope
  1.1.Market Segmentation & scope
  1.2. Market Definition
  1.3. Information Procurement
      1.3.1. Purchased database
      1.3.2. HCC’s Internal Database
      1.3.3. Secondary sources & third party perspectives
      1.3.4. Primary research
  1.4. Information Analysis
      1.4.1. Data analysis models
  1.5. Market Formulation & Data Visualization
  1.6. Data Validation & PublishingChapter 2. Executive Summary
  2.1. Market Outlook 
  2.2. Segment Outlook 
  2.3. Competitive InsightsChapter 3. Global Opioids Market Variables, Trends & Sco
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