Over the following 10 years, the market for opioids is anticipated to grow moderately at a CAGR of more than 3%, reaching a value of more than US$ 57 billion by the end of 2031. The biggest product demand over the course of the forecast period will continue to be for morphine and methadone.
Opioids are strong painkillers that include, among other things, morphine, codeine, oxycodone, hydrocodone, and methadone. They offer both advantages and very serious addiction hazards. Globally, the prevalence of chronic diseases is steadily increasing. Major health burdens are being created by this for most economies.
Persistence Market Research provides insights into the major variables influencing the demand for opioids around the world in its updated analysis. The study suggests that opioids will increasingly be used to treat chronic conditions and control pain. In more than 20 fast-growing areas, this most recent research also covers the global sales of other opioid drugs like morphine, codeine, fentanyl, meperidine, and methadone.
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What effect does market consolidation have in this area?
Due to industry consolidation, major businesses are concentrating on mergers and acquisitions to investigate profitable market opportunities. Leading manufacturers are concentrating on enhancing their commercialization initiatives while adhering to regulatory requirements. North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa are all actively following these trends.
For instance, RedHill closed off its new arrangement with Daiichi Sankyo in August 2020 by substituting a new royalty-bearing agreement for its co-commercialization agreement for Movantik® (which RedHill purchased in 2019).
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Competitive Landscape
With several major firms participating in this industry, the Opioids Market is highly consolidated. In many clinical and research domains, they are concentrating on research and development activities primarily for pain management as well as for other therapeutic applications including cough suppression and diarrhoea suppression. As a result, market participants are also working to increase their local and worldwide footprint through product launches, acquisitions, and distribution channel improvements.
Opioids manufacturers with patented drugs are successfully allocating their distribution rights to local companies that are operational in the pain management business. This strategy provides momentum to the growth of these companies’ business, owing to strong demand for generic drugs.
Some of the leading companies operating in the market are:
- Pfizer Inc.,
- Boehringer Ingelheim International GmbH,
- Janssen Pharmaceuticals, Inc.,
- Sanofi (SAIS),
- Sun Pharmaceutical Industries Ltd.,
- Actavis Plc.
- Mallinckrodt Pharmaceuticals
- Endo Pharmaceuticals Inc.
- Purdue Pharma L.P.,
- Assertio Therapeutics, Inc.
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Market by Category
Product
- Morphine
- Codeine
- Fentanyl
- Meperidine
- Methadone
Application
- Analgesics
- Cough Suppression
- Diarrhea Suppression
Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
- Clinics
- Others
Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
FAQ’S:
- What are the emerging trends that expect to offer lucrative opportunities for opioid manufacturers?
- Which opioid holds a significant share in the market?
- Which application is expects to dominate the opioids market?
- Which are the leading companies in the opioids landscape?
- What are factors restraining opioid demand?
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