Market Research Report
North America Opioids Drugs Market Forecast 2019-2028
|North America Opioids Drugs Market Forecast 2019-2028|
Published: May 11, 2020
Content info: 121 Pages
Delivery time: 2-3 business days
The North America opioids drugs market is anticipated to register a CAGR of 2.25% over the estimated period of 2019-2028. The increasing pharmaceutical expenditure, the growing prevalence, and a patient pool of opioid addiction and dependence, are some of the significant factors propelling market growth in the region.
The North America opioids drugs market is further researched by dividing the region into the United States and Canada. Canada spends 11.5% of its GDP on healthcare, according to the OECD 2018 report. In Canada, the implementation of government policies, rising occurrence of opioids abuse, and strict regulatory measures for opioids drugs sale are hindering market growth in the region. The decreasing prescription volume of strong opioids is the primary factor affecting the growth of the market in the country. In 2017, about 4000 Canadians died from an opioid-related overdose. Moreover, from 2012-2016, the total number of daily doses for opioids reduced a little less than 5% all over Canada, but there is a steady increase in prescription opioids by 7%. Both the United States and Canada have taken stringent measures to control the epidemic nature of opioids usage and created guidelines for doctors, aimed at reducing opioid prescriptions. As per the PHN, opioid prescriptions lessened in 2017, and the overall quantity of distributed opioids decreased by 10.1% from 2016-2017. British Columbia, Canada's Pacific province was hit by coronavirus when already battling an opioid epidemic. In March, the Canadian government urged the provinces to lower restrictions on prescription medications.
Biodelivery Sciences International, Inc, Egalet Corp, Acura Pharmaceuticals, Inc, Johnson & Johnson, Pfizer Inc, etc. are some of the prominent companies functioning in the market.
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