Opioids Drug Market Scope
The opioids drugs is a type of narcotic pain medication that applicable for treatment of severe pain. It is used as an anesthesia, cough suppressant, diarrhea suppressant and to reduce surgical pain. As the numbers of critically ill patients are increasing, demand for orthopedic diseases is also on the rise, leading to growing demand of opioids drugs. There has been significant rise in number of people additives towards opioid overdoses in the U.S. daily with figure stood up to 115 death toll in daily. It also witnessed that 21 to 29 percent of patients who are prescribed opioids for chronic pain misuse them, with 8 to 12 percent developing an opioid use disorder. The major companies are organized awareness programs in Asia-Pacific and Middle East region to prescribe painkillers to help patients overcome opiophobia.
According to AMA, the Global Opioids Drug market is expected to see growth rate of 2.1% and may see market size of USD24321.0 Million by 2026.
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Opioids Drug market throughout the predicted period.
Purdue Pharma L.P (United States), Allergan (Ireland), West-Ward Pharmaceuticals Corporation (United States), Janssen Pharmaceuticals, Inc. (Belgium), Pfizer, Inc. (United States), Egalet Corporation (United States), Sun Pharmaceutical Industries Limited (India), Acura Pharmaceuticals Inc. (United States), Cipher Pharmaceutical Inc. (Canada) and Daiichi Sankyo Inc. (Canada) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Johnson & Johnson (United States), Lupin Ltd. (India), Teva Pharmaceutical Industries Ltd. (Israel), Actavis Plc (United States), and Egalet (United States).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
The study have segmented the market of Global Opioids Drug market by Type (Morphine, Codeine, Fentanyl, Meperidine, Methadone and Others), by Application (Pain Management, Cough Supression, Diarrhea Suppresion and Others) and Region with country level break-up.
On the basis of geography, the market of Opioids Drug has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
In April 2019, U.S. Food and Drug Administration launched a public education campaign which is beneficial in providing safe removal of unused opioid pain medicines from homes. It also introduced a “Remove and Risk” Campaign that telecast in television, radio and print public announcements that can used by different organizations, individuals and healthcare providers.
“According to Department of Health and Human Services, Its launched some strategy to combat against opioids addiction, the strategy consist of prevention, treatment and recovery services, data on the epidemic, pain management, targeting of overdose-reversing drugs and research on pain and addiction.”
- Rising Demand for opioids drugs in healthcare industries.
- Value Oriented Consumers
- Increasing Surgical Procedures and Road Accidents.
- Growing Occurrence of Chronic Pain.
- Rising Demands of Opioids Drugs in Cough Suppressant and Diarrhea Suppressant.
- Growing Palliative Care Facilities Boost the Opioids Drugs Market.
- Misuse of Opioids and Consequential Stringent Regulations Hampers the Growth Of Market.
- Rehabilitation Centers Used Methadone and Buprenorphine that Gradually Decreased the Used of Addictive Opioids.
- Legalization of Cannabis as Alternatives of Cannabis may challenge the Market of Opioids Drugs.
Key Target Audience
Opioids Drugs Manufacturers, Opioids Drugs Traders, End-Use Market Participants of Different Segments of Opioids Drugs, Government and Research Organizations, R&D Institutions and Others