Market Research Report
Global Opioids Market Research Report Forecast to 2023
|Published by||Market Research Future||Product code||882299|
|Published||Content info||159 Pages
Delivery time: 1-2 business days
|Global Opioids Market Research Report Forecast to 2023|
|Published: June 30, 2019||Content info: 159 Pages||
Opioids are drugs that act on the nervous system to relieve pain. The term opioid refers to all substances (exogenous or endogenous) with morphine-like properties. They are the most widely prescribed medications to treat moderate to severe chronic pain. These analgesics are used to manage pain in cancer patients and to treat severe constant pain in patients who suffer from terminal illnesses.
The main purpose of opioids is to treat conditions inducing chronic pain such as cancers, arthritis, lower back pain, and fibromyalgia. The market for opioids is increasing due to the growing geriatric population, coupled with an increasing focus on palliative care and technological advancements in opioids. However, drug misuse and addiction are likely to hamper the market growth over the forecast period.
The global opioids market is growing at a rapid pace. The global opioids market is expected to reach USD 29,535.80 million by 2023 from USD 19,554.49 million in 2017 and is expected to register a CAGR of 7.12% during the forecast period of 2018 to 2023.
In 2017, the market was led by the Americas with a 77.49% share, followed by Europe, and Asia-Pacific with shares of 10.69% and 8.1%, respectively.
The market has been segmented based on product, application, and end-user.
The global opioids market on the basis of product has been segmented into immediate-release/short-acting opioid and extended-release/long-acting opioid. Immediate-release/short-acting opioid is further sub-segmented into codeine, oxycodone, hydrocodone, fentanyl, morphine, propoxyphene, and others. Extended-release/long-acting opioid is further sub-segmented into oxycodone, hydrocodone, methadone, fentanyl, morphine, oxymorphone, and others. The extended-release opioid segment accounted for the larger market share of 65.21% in 2017, with a market value of USD 12,750.91 million; it is expected to register a CAGR of 6.96% during the forecast period.
The global opioids market on the basis of application has been segmented into pain relief and anesthesia. Pain relief is further sub-segmented into cancer pain, postoperative pain management, low-back pain, orthopedic pain, neuropathic pain, and fibromyalgia. Anesthesia is further sub-segmented into cough suppression, diarrhea suppression, and de-addiction. The pain relief segment accounted for the largest market share of 38.09% in 2017, with a market value of USD 7,448.51 million; it is expected to register a CAGR of 6.28% during the forecast period.
The global opioids market on the basis of end user has been segmented into hospitals and clinics, pharmacies, academic research institutes, and others. The hospitals and clinics segment accounted for the largest market share of 50.51% in 2017, with a market value of USD 9,876.99 million; it is expected to register a CAGR of 6.90% during the forecast period.
Sanofi SA, Pfizer Inc, Boehringer Ingelheim GmbH, Teva Pharmaceutical Industries Ltd, Allergan Inc., Purdue Pharma L.P., West-Ward Pharmaceuticals Corporation, Sun Pharmaceutical Industries Ltd, Egalet Corporation, Janssen Global Services, LLC, Vertice Pharma LLC, and Mallinckrodt
To provide a detailed analysis of the market structure along with a forecast of various segments and sub-segments of the global opioids market