U.S. Opioids Market Analysis
U.S. Opioids Market, by Therapeutic Application (Pain Management (Migraine, Osteoarthritis Pain, Back Pain, Cancer Pain, Neuropathic Pain, and Others), Diarrhea Treatment, and Cough Treatment), by Drugs (Morphine, Codeine, Meperidine, Hydrocodone, Methadone, and Fentanyl), and by Distribution Channel (Online Pharmacies, Hospital Pharmacies, and Retail Pharmacies)—Share, Outlook, Size, and Opportunity Analysis, 2022–2030
Opioids, which encompass illicit drugs like codeine, diphenoxylate, morphine, meperidine, heroin, fentanyl, methadone, methylphenidate, hydrocodone, oxymorphone, hydromorphone, and oxycodone. These drugs are commonly used to alleviate pain and treat symptoms such as coughing and diarrhea.
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The U.S. opioids market 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).
The rise in the incidence of pain linked with various illnesses like migraines, neuropathic, cancer, osteoarthritis, and other ailments is anticipated to fuel the expansion of the opioids market in the United States.
The market growth is expected to be propelled during the projected duration due to the rising incidence of diseases that cause pain, such as neuropathy. As an example, the Cleveland Clinic, a non-profit academic medical center, provided data in December 2019 indicating that approximately 8% of adults aged 65 and above in the United States experience some form of neuropathy.
The market growth is anticipated to be propelled during the projected timeframe due to a rise in surgical procedures.
The market growth in the forecast period is predicted to be fueled by the rising usage of opioids after surgery. As an example, a meta-analysis study published in June 2020 in the JAMA Network Open Journal examined the prevalence of prolonged opioid use among individuals in the United States who had undergone surgery. The study included data from inception until August 30, 2017, and an updated search was conducted on June 30, 2019. The findings revealed that 6.7% of individuals had prolonged opioid use after surgery, as per the pooled rate.
Impact of the Coronavirus (COVID-19) Pandemic
After the emergence of the COVID-19 virus in December 2019, it quickly spread to more than 100 countries worldwide. On January 30, 2020, the World Health Organization (WHO) declared the disease a public health emergency.
The economy can be impacted by COVID-19 in three primary ways, which include direct effects on drug production and demand, distribution channel disruptions and financial repercussions on markets and firms. As a result of lockdowns implemented nationwide, various nations, including India, Egypt, Saudi Arabia, China, the U.A.E., and others, are encountering challenges related to the transportation of drugs from one location to another.
Despite the negative impacts of the COVID-19 pandemic, the U.S. opioids market experienced a boost due to the heightened utilization of opioids during this time. As an example, a publication from the National Institute on Drug Abuse, a U.S. federal government research institute, revealed that drug overdoses escalated amid the COVID-19 pandemic. The number of drug overdose deaths, including those resulting from opioids and other substances, was estimated to have exceeded 93,000 in 2020, marking the highest number of overdose deaths ever documented within a 12-month period and an almost 30% rise from 2019.
Prominent Players
Prominent players, including Mallinckrodt, Lupin, Pfizer Inc., Purdue Pharmaceuticals L.P., Endo Pharmaceuticals, Inc., Amneal Pharmaceuticals LLC, Titan Pharmaceuticals, Inc., Assertio Holdings, Inc., Trevena, Inc., and Par Pharmaceutical, are operating in the U.S. opioids market.
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U.S. Opioids Market Report Coverage
| The market size value in 2023 |
Recent developments
VITAS Healthcare, which is the primary provider of end-of-life care in the country, introduced the industry’s first all-encompassing opioid conversion tool in November 2021. This tool enables healthcare practitioners to prescribe opioids and handle pain efficiently.
Trevena, Inc., a biopharmaceutical company, received approval from the US Food and Drug Administration in August 2020 for Olinvyk (oliceridine), an opioid agonist. The medication is intended for adult patients with moderate to severe acute pain that necessitates intravenous opioid treatment and has not responded to other therapies.
Market Restraints:
The growth of the U.S. opioids market is hampered by significant factors such as heightened opioid abuse and the adverse effects linked to opioids. In January 2022, the National Institute on Drug Abuse, a U.S. federal government research institute, provided data indicating that drug-involved overdose caused almost 92,000 fatalities in the United States in 2020, involving both prescription opioids and illicit drugs.
Table of Contents with Major Points:
Executive Summary
- Introduction
- Key Findings
- Recommendations
- Definitions and Assumptions
Executive Summary
Market Overview
- Definition of U.S. Opioids Market
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Trends and Developments
Key Insights
- Key Emerging Trends
- Key Developments Mergers and Acquisition
- New Product Launches and Collaboration
- Partnership and Joint Venture
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
Qualitative Insights Impact of COVID-19 on U.S. Opioids Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
Conclusion
Appendix
- Data Sources
- Abbreviations
- Disclaimer
TOC Continued…!
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