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Opioids Market Analysis, Trends, Share, Overview - Segmented by Product Type, By Application, By Receptor-binding (Strong Agonist, Mild to Moderate Agonist), By Geography - Growth, Trends, and Forecast (2018 - 2023)

Opioids Market Analysis, Trends, Share, Overview - Segmented by Product Type, By Application, By Receptor-binding (Strong Agonist, Mild to Moderate Agonist), By Geography - Growth, Trends, and Forecast (2018 - 2023)

The global opioid market was valued at USD 26,731.00 million in 2017, and is expected to reach USD 35,679.05 million by 2023, registering a CAGR of 4.93% during the forecast period (2018 - 2023). Opioids have been regarded as one of the most effective drugs for the treatment of pain. Moreover, their use in the management of severe pain and chronic pain, which are related to advanced medical illness, is considered as the standard care in most parts of the world. Therefore, with increasing medical ailments, the market studied is expected to grow over the forecast period.

Inclination toward Extended Release Formulations from the Immediate Release of Opioids

The rising awareness about opioids misuse, abuse, and overdose has prompted many stakeholders to reconsider prescribing practices for opioid analgesics. Healthcare professionals are extensively using opioid analgesics for treating both acute and chronic pain. Due to the opioid crisis, there are various efforts taken by governments across the world. Like in the US president’s declaration of a public health emergency, the report by the President’s Commission on Combating Drug Addiction and the Opioid Crisis, there is an urgent need for the use of extended-release formulations. Thus, extended-release formulations have low drug abuse and many patients are also switching to ER/LA opioid analgesic therapy after long-term IR opioid analgesic use, which is further contributing to the growth of the market.

Prescription Drug Abuse Hinders the Opioids Market

According to CDC, every day, more than 115 people in the United States die after overdosing on opioids. The addiction to, and misuse of opioids, including heroin, prescription pain relievers, and synthetic opioids is a serious national crisis that affects public health, as well as social and economic welfare. The Centers for Disease Control and Prevention (CDC) estimates the total economic burden of prescription opioid misuse in the United States alone to be USD 78.5 billion a year. This includes the costs of addiction treatment, healthcare, criminal justice involvement, and lost productivity. In 2015, an estimated 2 million people in the United States suffered from substance use disorders related to prescription opioid pain relievers, and another 591,000 suffered from a heroin use disorder. Between 2006 and 2011, nonmedical use of Adderall and emergency room visits involving the drug increased significantly. The misuse of this drug rose by 67%, and emergency room visits went up nearly 150%, with family and friends serving as the primary source. Young adults between the ages of 18-25 made up 60% of those using Adderall for nonmedical reasons. Prescription drug abuse is most prevalent in the United States, but is also a problem in many areas around the world, including Europe, Southern Africa, and South Asia. The prescription drug abuse in Europe is also high and is catching up with that in the United States. The percentage of opioid prescription drug overdose varies from the countries in Europe. A study done by RTI international in five European countries, namely Denmark, Germany, Spain, Sweden, and the United Kingdom revealed that, opioid prescription drug overdose is highest in Spain among these five, ranging from 15-20%. Even in other countries, the prescription drug overdose is becoming a problem and is likely to act as a restraint for the global opioid market.

Market Segmentation Insights for the Opioids Market

Under the product type segment, Methadone is expected to grow with the second fastest CAGR of 5.10%. The highest growth rate is expected to be exhibited by Fentanyl over the forecast period. According to data available from International Narcotics Control Board (INCB), the United States and Germany were the leading consumers of prescription fentanyl for 2016. The share of the United States in the global prescription fentanyl consumption stood at 30% and that for Germany was approximately 20%. Additionally, the United States leads globally in the consumption of methadone. This is primarily because of the rampant illicit use of opioids for abusive and recreational use, which leads to addiction, the treatment of which is primarily done through methadone.

The United States is Poised to Dominate the Opioids Market

The North America region is expected to grow with the fastest compounded annual growth rate of about 5.2% over the forecast period. The fastest growing market will be the regional market of Canada in North America, while the US region holds the largest market share and will continue to do so over the forecast period.
As per the US Department of Health and Human Services, 2016, opioid became an epidemic in the United States, where 11.5 million people misused the prescription opioids and about 20 thousands died due to overdosing on synthetic opioids, other than methadone. The rising intravenous drug usage has majorly led to the public health epidemics for opioids. These effects have led to a declaration of the opioid crises as a “national emergency”, in 2018, by the US government. Similarly in Canada, according to the Public Health Agency of Canada, in 2017 about 4,000 Canadians died from opioid-related overdose. In addition, each day, around 17 Canadians are hospitalized due to opioid poisoning. Further, as reported by the Canadian Institute for Health Information, the total number of defined daily doses for opioids declined slightly less than 5% from 2012 to 2016, across Canadian provinces. Whereas, there is a steady rise in the prescription, by about 7%. Both the United States and Canada have reacted to the epidemic nature of opioids usage in the recent years by creating guidelines for doctors, aimed at reducing opioid prescriptions and to catch the over-prescription of opioids. The above mentioned crisis declaration and enforcement of guidelines are expected to bring down illicit use of opioids and encourage prudent use of opioids, and curb opioid economy of the black market. All of the above is expected to have a driving effect on the market of North America.

Key Developments in the Market

- June 2018 - Nektar Therapeutics submitted a new drug application (NDA) for NKTR-181, for the treatment of chronic low back pain.

Major Players -Allergan, Egalet Corporation, Endo Pharmaceuticals Inc., Janssen Pharmaceuticals Inc., Mallinckrodt, Pfizer Inc., Purdue Pharma LP, Vertice Pharma LLC, Sun Pharmaceutical Industries Ltd., and Teva Pharmaceutical Industries Ltd., among others.

Reasons to Purchase the Report

- Current and future of opioids market in the developed and emerging markets
- Analysis of various perspectives of the market, with the help of Porter’s five forces analysis
- The segment that is expected to dominate the market
- The regions that are expected to witness the fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3 months analyst support, along with the Market Estimate sheet (in Excel)

Customization of the Opioids Market Report

- This report can be customized to meet your requirements. Please connect with our representative, who will ensure that you to get a report that suits your needs.

1. Introduction
1.1 Market Definition
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Opioids Market Overview
5.1 Current Market Scenario
5.2 Porter's Five Forces Analysis
5.2.1 Bargaining Power of Suppliers
5.2.2 Bargaining Power of Consumers
5.2.3 Threat of New Entrants
5.2.4 Threat of Substitute Products and Services
5.2.5 Competitive Rivalry within the Industry
6. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
6.1 Market Drivers
6.1.1 Rising Prevalence of Orthopedic Diseases and Chronic Pain
6.1.2 Inclination toward Extended Release Formulations from the Immediate Release of Opioids
6.1.3 Rising Focus on Abuse-deterrent Formulation (ADF) by Generic Manufacturers
6.1.4 Growing Palliative Care Facilities
6.2 Market Restraints
6.2.1 Advent and Legalization of Cannabis as an Alternative to Opioids
6.2.2 Prescription Drug Abuse
6.3 Market Opportunities
6.4 Market Key Challenges
7. Market Segmentation
7.1 Market By Product Type
7.1.1 Codeine
7.1.2 Fentanyl
7.1.3 Morphine
7.1.4 Meperidine
7.1.5 Methadone
7.1.6 Others
7.2 Market By Receptor Binding
7.2.1 Strong Agonist
7.2.2 Mild to Moderate Agonist
7.3 Market By Application
7.3.1 Pain Management Cancer Pain Neuropathic Pain Osteoarthritis Pain Other Pain Management
7.3.2 Cold and Cough
7.3.3 Diarrhea
7.3.4 Other Applications
7.4 By Geography
7.4.1 North America United States Canada Mexico
7.4.2 Europe France Germany United Kingdom Italy Spain Rest of Europe
7.4.3 Asia-Pacific China Japan India Australia South Korea Rest of Asia-Pacific
7.4.4 Middle East & Africa GCC South Africa Rest of Middle East & Africa
7.4.5 South America Brazil Argentina Rest of South America
8. Competitive Landscape
8.1 Merger and Acquisition Analysis
8.2 Agreements, Collaborations, and Partnerships
8.3 New Product Launches
9. Major Players
9.1 Allergan
9.2 Egalet Corporation
9.3 Endo Pharmaceuticals Inc.
9.4 Janssen Pharmaceuticals Inc.
9.5 Mallinckrodt
9.6 Pfizer Inc.
9.7 Purdue Pharma LP
9.8 Vertice Pharma LLC
9.9 Sun Pharmaceutical Industries Ltd
9.10 Teva Pharmaceutical Industries Ltd
**List Not Exhaustive
10. Future of the Market

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