Market Research Report
Asia Pacific Opioids Drugs Market Forecast 2019-2028
|Asia Pacific Opioids Drugs Market Forecast 2019-2028|
Published: May 11, 2020
Content info: 120 Pages
Delivery time: 2-3 business days
The Asia Pacific opioids drugs market is estimated to record a CAGR of 3.02% over the forecast period, 2019-2028. The surge in palliative care for patients undergoing intense suffering, is one of the significant factors driving market growth in the region.
The growth rate of the Asia Pacific opioids drugs market is further analyzed by dividing the region into respective countries such as Vietnam, Thailand, Japan, Australia &New Zealand, China, Indonesia, India, South Korea, and the rest of Asia Pacific that includes Singapore, Philippines, among others. In Indonesia, the use of opioids for cancer patients is very low due to the inability to assess pain and dose correctly, and fear of addiction. The country has taken positive steps to avoid opioids overdose and infectious diseases, such as opioid substitution therapy, needle, and syringe programs, and increased access to HIV treatment. Due to COVID-19, Indonesia has restricted the import of opioid drugs. In countries like Thailand, cancer is one of the critical health issues. But there are several issues in cancer pain management. The healthcare society is reluctant to validate opioid analgesics for fear of addiction.
In Vietnam, drug users increased by 16% in 2016, in comparison to 2015. The government implemented a project with a budget of $xx to improve and combine information and mass communication campaigns with community-based activities for the prevention of drug abuse. Australia spent 9.1% of its GDP on healthcare in 2017. There are several organizations that create pain awareness in the country, as one in five Australians live with chronic pain, including children and adolescents. Such awareness programs can help people to understand the usage of opioid medication. In the rest of Asia Pacific countries, there is an urgent need to precisely form policies to increase access to opioid medication that include palliative care.
Sun Pharmaceuticals Industries Ltd, Johnson & Johnson, Lupin Ltd, Pfizer Inc, Teva Pharmaceutical Industries Ltd, etc. are some of the prominent companies functioning in the market.
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TABLE8: ASIA PACIFIC OPIOIDS DRUGS MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)