Scope of the Study
Opioids are defined as drugs which act on the nervous system in order to relieve pain. It is the most widely prescribed medications to treat moderate to severe chronic pain. In addition, it is widely used to manage pain in cancer patients and to treat severe constant pain in patients who suffer from terminal illnesses. Opioid tolerant patients can also be treated with additional treatment options for opioid tolerance, for instance, alpha2-adrenoceptor agonists, NMDA antagonists, among others. In October 2018, according to an article published by centers for disease control, more than 191.2 million opioid prescriptions were dispensed in the United States alone in 2017. Hence, an increasing number of opioids patients and rise in disposable income and surge in the global geriatric population are some of the major factors which are affecting the growth of the market in the future.
The market study is being classified and major geographies with country level break-up. According to AMA, the Global Opioid Tolerance Treatment market is expected to see growth rate of 4.2% and may see market size of USD2197.6 Million by 2024.
Boehringer Ingelheim International GmbH (Germany), GlaxoSmithKline Plc. (United Kingdom), Teva Pharmaceutical Industries Ltd. (Israel), Mylan N.V. (United States), Otsuka Pharmaceutical Co., Ltd., (Japan), Johnson & Johnson Services, (United States), Aurobindo Pharma (India), Pfizer Inc., (United States), Acorda Therapeutics, Inc., (United States) and Zydus Cadila (India) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Boehringer Ingelheim International GmbH (Germany) and GlaxoSmithKline plc. (United Kingdom).
The market is fragmented with numerous players focusing on technique and quality of the product due to which the global opioid tolerance treatment market can witness an upsurge in the forecast period. Some of the key strategies followed by the players operating in the global opioid tolerance treatment market were innovation, product development, acquisition, and expansion. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Opioid Tolerance Treatment market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Opioid Tolerance Treatment market by Type, Application and Region.
On the basis of geography, the market of Opioid Tolerance Treatment 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). North America region held largest market share in the year 2018. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rise in Opioid Consumption Worldwide For Medical and Non-Medical Purpose
- Large Number of Opioid Prescription Dispensed For Therapeutic Purposes
- Increasing Prevalence of Diseases that cause chronic pain, such as Cancer, Postsurgical Pain, Lower Back Pain, Fibromyalgia, and Arthritis.
- Growth in the Incidence of Orthopaedic Diseases & Chronic Pain
- Strictly regulated by the Food and Drug Administration owing to a substantial number of drug-abuse deaths registered
- Mounting Demand from Emerging Economic such as China, India, Cambodia, among others
- Lack of Awareness of Opioid Tolerance Treatment
In April 2019, according to an article published by the Food and Drug Administration, retail pharmacies dispensed more than 191 million opioid prescriptions to nearly 60 million patients in 2017. Hence, this will, in turn, propel the growth of opioid tolerance treatment market.
Key Target AudienceOpioid Tolerance Treatment Manufacturers Companies, Regulatory bodies, Intermediary suppliers and End Users
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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