Opioid drugs act on the opioid receptors present in the central and peripheral nervous system. The drug class primarily used in relieving pain includes natural, semi-synthetic, and synthetic opioids. Codeine, morphine, hydrocodone, oxycodone, heroin, and fentanyl are some of the major prescription drugs in the global opioids market. Opioids can be administered as oral pills, parenteral, liquids, patches, or lozenges. Overdose and drug abuse is a major concern for health regulators worldwide, with the situation especially alarming in developed regions with easy access to these drugs. According to the World Drug Report 2016, a staggering 17.4 million people were affected by opioid drug abuse. Drug and health regulators are therefore, taking initiatives to govern pain prescriptions and curb the rate of opioid abuse. The U.S. FDA considers all opioids as schedule 2 drugs—drugs that have high abuse potential. In 2016, the CDC issued guidelines to prescribe opioids, limiting the daily dose of opioids to 90 morphine milligram equivalent (MME).
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According to the National Institutes of Health (NIH) estimates published in 2015 by the American Pain Society, nearly 50 million people in the U.S. suffered from chronic pain. Use of opioids in cancer pain, orthopedic pain, neuropathic pain, post-operative pain, and lower back pain is very effective. With growing incidence of chronic pain, demand for opioids will also increase consequently.
North America is the largest market for opioids owing to availability of branded prescription and local products, which inadvertently also leads to drug abuse. There are local unbranded products available for every opioid derivative complementing the available prescription opioid brand. The Centers for Disease Control and Prevention (CDC) states that 73% of all drug overdose deaths in the U.S. in 2015 were due to opioids (57% in 2010). Moreover, emergence of cannabis as an alternative to opioids and legalization of the same in various regions is inhibiting the opioids market growth.
This report segments the global opioids market on the basis of drug type, application, and geography. On the basis of drug type, the global opioids market is categorized into codeine, morphine, fentanyl, methadone and hydrocodone. On the basis of application, the market is segmented into pain management, diarrhea and cough treatment. Pain Management is further segmented into Neuropathic Pain, Migraine, Back Pain, Osteoarthritis Pain, Cancer Pain, and Others. For comprehensive understanding of market dynamics, the global opioids market is analyzed across key geographical regions namely North America, Europe, Asia Pacific, Latin America, Africa, and Middle East. Each of these regions is analyzed on basis of market findings across major countries in these regions for a macro-level understanding of the market.
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Key features of the study:
- This report provides in-depth analysis of the opioids products and provides market size (US$ Million) and Cumulative Annual Growth Rate (CAGR (%)) for the forecast period: 2016 – 2024, considering 2015 as the base year
- It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players
- It profiles leading players in the global opioids market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies and future plans
- Key companies covered as a part of this study include Purdue Pharma L.P., Janssen Pharmaceuticals, Inc., West – Ward Pharmaceuticals Corporation, Pfizer, Inc., Egalet Corporation, Allergan plc, Sanofi SA, Boehringer Ingelheim, and Sun Pharmaceutical Industries Ltd.
- Insights from this report would allow marketers and management authorities of companies to make informed decision with respect to their future product launch, end user upgrades, market expansion, and marketing tactics
- The global opioids market report caters to various stakeholders in this industry, including investors, manufacturers and distributors for opioid products, health and regulatory agencies, research and consulting firms, new entrants, and financial analysts
- Various strategy matrices used in analyzing the opioids market would provide stakeholders vital inputs to make strategic decisions accordingly
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