“Increase in use of opioids in pain management has boosted the growth of the global opioids market. The pain management segment is expected to grow at the fastest CAGR of 2.6% during the study period. However, the market across Asia-Pacific is projected to manifest the fastest CAGR of 3.0% during the forecast period, due to the presence of key players in the region.”
The global opioids market was pegged at $18.53 billion in 2018 and is projected to reach $22.38 billion by 2026, growing at a CAGR of 3.2% during 2019–2026.
Increase in use of opioids in pain management has boosted the growth of the global opioids market. However, strict government regulation toward vigorous prescription and opioid crisis across the globe hamper the market growth. On the contrary, surge in the consumption of opioids in the emerging economies is expected to create lucrative opportunities in the near future.
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The global opioids market is divided on the basis of product, application, and region. Based on product, the market is categorized into codeine, fentanyl, methadone, oxycodone, morphine, hydrocodone and others. The fentanyl segment is expected to register the fastest CAGR of 3.7% during the forecast period, owing to rise in use of fentanyl patch for pain relief across the globe. However, the oxycodone segment held the largest share in 2018, accounting for one-fourth of the market.
On the basis of application, the market is segmented into pain management, cough treatment, and diarrhea. The pain management segment is expected to grow at the fastest CAGR of 2.6% during the study period. Moreover, the segment held the largest share in 2018, contributing nearly three-fifths of the market.
The global opioids market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the largest share in 2018, contributing nearly half of the total market. However, the market across Asia-Pacific is projected to manifest the fastest CAGR of 3.0% during the forecast period, due to the presence of key players in the region.
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The global opioid market report includes an in-depth analysis of the major market players such as Purdue Pharma, Pfizer, Inc., Sun Pharmaceuticals, Sanofi, Mallinckrodt Pharmaceuticals, Boehringer Ingelheim, Janssen Pharmaceuticals, Inc., Allergan, Plc, and Endo Pharmaceuticals Inc.
Scope of The Report:
|Market size available for years||2018-2026|
|Base year considered||2019|
|Forecast units||Value (USD)|
|Segments covered||Product, and Application|
|Geographies covered||North America, Europe, Asia-Pacific, LAMEA|
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