North America Synthetic Opioids Market Growth to reach US$ 97.6 Billion by 2027, Industry Analysis, Size, Technology Trends, Top Companies, Regional Revenue

SEATTLE, May 26, 2021, (MEDGADGET) — Overview

Synthetic opioids are narcotic medications that are chemically engineered to imitate the symptoms of natural opioids. Methadone, Fentanyl, and Meperidine are some of the most commonly prescribed synthetic opioids. Heroin, oxycodone, hydrocodone, and hydromorphone are semi-synthetic opioids made from naturally occurring opium products including morphine and codeine.

Statistics: 

North America synthetic opioids market is expected to account over US$ 97.6 Bn in terms of value by the end of 2027.

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North America Synthetic Opioids Market: Drivers  

Rising incidences of cancer is expected to propel growth of North America synthetic opioids market during the forecast period. For instance, in 2019, according to Breastcancer.org, In the United States, an expected 268,600 new cases of invasive breast cancer and 62,930 new cases of non-invasive (in situ) breast cancer were predicted to be diagnosed in women.

Furthermore, rising prevalence of HIV is also expected to drive growth of the North America synthetic opioids market over the forecast period. For instance, in 2018, according to the Centers for Disease Control and Prevention (CDC), over 37,832 people received an HIV diagnosis in the U.S.

U.S. held a significant position in North America synthetic opioids market in 2019, accounting over 90.0% share in terms of value, followed by Canada.

North America Synthetic Opioids Market: Restraints   

Synthetic opioid use has been linked to a number of harmful outcomes, which are expected to hamper growth of the North America synthetic opioids market. For instance, Vomiting, constipation, sedation, confusion, hallucinations, and accidents due to impaired coordination are also potential side effects of Fentanyl usage.

Furthermore, rising number of deaths owing to synthetic opioids overdose, is also expected to hinder growth of the North America synthetic opioids market. For instance, according to the National Institute on Drug Abuse’s 2018 data, overdoses of opioids, which primarily include prescription pain relievers, heroin, and synthetic opioids like fentanyl, result in 128 deaths every day in the United States.

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North America Synthetic Opioids Market: Opportunities    

Rising usage of Fentanyl test strips is expected to pose attractive growth opportunities for players in the North America synthetic opioids market. For instance, in February 2018, according to a study by Johns Hopkins Bloomberg School of Public Health, in February 2018, around 70% of people who use drugs will change their habits, if their medications tested positive for fentanyl.

Drug exclusivity for marketed opioids is expected to drive growth of the North America synthetic opioids market. The first company to submit an ANDA (Abbreviated New Drug Application) to the FDA is granted exclusive marketing rights to the generic drug over 180 days. These forms of marketing opportunities may be a priority for market participants looking to offset the risks of commoditized generic product competitive pressure.

Synthetic Opioids segment in North America synthetic opioids market was accounted around US$ 6.3 Bn in 2019 and is estimated to reach over US$ 7.4 Bn by 2027 at a CAGR around 2.1% over the forecast period.

Market Trends/Key Takeaways

The priority of major economies is on tightening laws to avoid opioid overdoses. For instance, in February 2020, the Synthetic Opioid Exposure Prevention and Training Act of 2020 was introduced in the U.S. Senate to enable Customs and Border Protection to issue safety guidelines for handling synthetic opioids.

Synthetic opioid-related deaths are on the rise in the U.S. For instance, according to RAND Corporation’s 2019 report, “The Future of Fentanyl and Other Synthetic Opioids,” the number of deaths in the United States involving synthetic opioids rose around 3,000 in 2013 to more over 30,000 in 2018.

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Regulations

U.S.

Drug Enforcement Administration (DEA)

• DEA is responsible for enforcing the controlled substances laws and regulations of the United States
• It is responsible for the enforcement of the provisions of the Controlled Substances Act as they pertain to the manufacturing, distribution, and dispensing of legally produced controlled substances
• It also coordinates and cooperates with federal, state, and local law enforcement officials on mutual drug enforcement efforts and enhancement of such efforts through exploitation of potential interstate and international investigations beyond local or limited federal jurisdictions and resources.
• DEA reduced the amount of almost every Schedule II opiate and opioid medication that may be manufactured in the United States in 2017 by 25 percent or more
• DEA’s Diversion Control Division is involved in preventing, detecting, and investigating the diversion of controlled pharmaceuticals and listed chemicals from legitimate sources while ensuring an adequate and uninterrupted supply for legitimate medical, commercial, and scientific needs

North America Synthetic Opioids Market: Competitive Landscape

Key players are dominating in North America synthetic opioids market such as, Pfizer Inc., Purdue Pharma LP, Teva Pharmaceuticals, Janssen Pharmaceuticals, Inc., West-Ward Pharmaceuticals, Endo International plc, Mallinckrodt Pharmaceuticals plc, Impax Laboratories, Inc., Mylan N.V., and Indivior Plc.

North America Synthetic Opioids Market: Key Developments

Key players in the North America synthetic opioids market are concentrating on addressing opioid crisis. For instance, in August 2019, Purdue Pharma L.P. teamed up with Oklahoma State University’s National Center for Wellness and Recovery to develop solutions to the opioid abuse epidemic.

Table of Contents

1. Research Objectives and Assumptions
   • Research Objectives
   • Assumptions
   • Abbreviations
2. Market Purview
   • Report Description
     • Market Definition and Scope
   • Executive Summary
     • Market Snippet, By Product Type
     • Market Snippet, By Application
     • Market Snippet, By Distribution Channel
     • Market Snippet, By Region
     • Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
   • Market Dynamics
     • Drivers
     • Restraints
     • Market Opportunities
   • Impact Analysis
   • Key Highlights
   • Product launch
   • PEST Analysis
   • Regulatory Scenario
   • Mergers and Acquisitions
4. North America Synthetic Opioids Market, By Product Type, 2019 – 2027, (US$ Mn)
   • Introduction
     • Market Share Analysis, 2019 and 2027 (%)
     • Y-o-Y Growth Analysis, 2017 – 2027
     • Segment Trends
   • Synthetic Opioids
     • Introduction
     • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
       • Methadone
       • Fentanyl
       • Meperidine
   • Semi Synthetic Opioids
     • Introduction
     • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
       • Hydrocodone
       • Oxymorphone
       • Oxycodone
       • Hydromorphone
       • Buprenorphine
5. North America Synthetic Opioids Market, By Application, 2019 – 2027, (US$ Mn)
   • Introduction
     • Market Share Analysis, 2019 and 2027 (%)
     • Y-o-Y Growth Analysis, 2017 – 2027
     • Segment Trends
   • Pain Management
     • Introduction
     • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
   • De-Addiction
     • Introduction
     • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
6. North America Synthetic Opioids Market, By Distribution Channel, 2019 – 2027, (US$ Mn)
   • Introduction
     • Market Share Analysis, 2019 and 2027 (%)
     • Y-o-Y Growth Analysis, 2017 – 2027
     • Segment Trends
   • Retail Outlets
     • Introduction
     • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
   • Hospitals
     • Introduction
     • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
7. North America Synthetic Opioids Market, By Country, 2019 – 2027, (US$ Mn)
   • Introduction
     • Market Share Analysis, By Region, 2019 and 2027 (%)
     • Y-o-Y Growth Analysis, For Regions, 2017–2026
   • U.S.
     • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
     • Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
     • Market Size and Forecast, By Distribution Channel, 2016 – 2027, (US$ Mn)
   • Canada
     • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
     • Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
     • Market Size and Forecast, By Distribution Channel, 2016 – 2027, (US$ Mn)
8. Competitive Landscape
   • Company Profiles
9. Section
   • References
   • Research Methodology
   • About us and Sales Contact

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