Outlook on the Opioids Global Market to 2027 – High Incidence of Chronic Pain in Adults and Demand for Strong Agonists are Driving Growth – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Global Opioids Market Size, Share & Industry Trends Analysis Report By Application, By Product Type, By Regional Outlook and Forecast, 2021-2027” report has been added to ResearchAndMarkets.com’s offering.

The Global Opioids Market size is expected to reach $5.4 billion by 2027, rising at a market growth of 3.5% CAGR during the forecast period.

Opioids essentially serve as pain relievers since they are composed of substances that relax muscles and alleviate pain and stress. Prescription opioids are mostly used to treat moderate to severe pain, while some opioids can be used to treat cough and diarrhea.

Hydrocodone, oxycodone, codeine, fentanyl, methadone, morphine, and other prescription opioids are among them. Opioids are the most commonly prescribed pain relievers for people suffering from moderate to severe chronic pain. Individuals diagnosed with terminal illnesses suffering from severe and chronic physical pain are the main recipient of these analgesics.

Due to an increase in demand for optimal products for treating various ailments, the opioids market is predicted to grow significantly throughout the forecast period. Increased usage of these pharmaceuticals to battle pain, as well as an increase in the senior population, which is more prone to orthopedic pain, are two significant reasons driving the market’s expansion. Furthermore, rising disposable income in developing economies like India, China, and others contributes to market expansion. Prescription opioids, which include oxycodone, hydrocodone, and morphine, among others, are powerful pain relievers with both positive and negative side effects.

According to the National Institutes of Health, opioids are commonly used to treat adults suffering from moderate to severe pain, while some opioids can also be used to treat cough and diarrhea. Since a few years, there has been an increase in the demand for opioids, which are used to treat pain. Increasing demand for opioids has been seen across areas as a result of increased knowledge of palliative care and favorable reimbursement policies, as well as the implementation of Opioids Maintenance Treatment (OMT).

Extended opioid options to users in terms of effectiveness and convenience, as well as regulatory support, will create opportunities. Additionally, corporations are raising awareness of palliative care options in addition to painkillers. For top opioid firms, developing commercial and prospective formulations with enhanced efficiency and potency versions is projected to give potential opportunities. Fujian Cancer Hospital, for example, continued its Phase III clinical trial research of the fentanyl patch in September 2020 to investigate its safety and efficacy in opioid-naive patients with moderate cancer pain.

Market driving Factors:

High incidence of chronic pain in adults

Globally, physical pain is a major issue. According to estimates by NCBI5, 20% of adults worldwide suffer from some kind of physical pain, with 10% of those get newly diagnosed with chronic pain each year. Nonetheless, the problem of pain has been predominantly viewed as a medical issue, with little attention paid to it by the field of public health.

Pain’s ubiquity, incidence, and wide-ranging social and health repercussions necessitate that the public health community pay close attention to it. As a result, health care practitioners and public health professionals will have a better understanding of pain, as well as the best public health and social policy approaches to the problem.

Demand for Strong Agonists

An agonist is a pharmacological molecule that activates specific brain receptors. When only a small number of receptors are engaged, this agonist elicits a strong physiological/pharmacological response, indicating that the medication has high intrinsic activity. Fentanyl, morphine, dihydromorphinone, meperidine, oxycodone, and oxymorphone are all strong agonist opioids. COVID-19 wreaked havoc on the global health system.

During the COVID-19 pandemic, health organizations around the world were focused on preventing infection and treating COVID-19 patients, which resulted in the cancellation of elective procedures and consultations, which had an impact on pain services provided by hospitals and pain clinics.

Marketing Restraining Factor:

Increasing Cases of Opioid Addictions and Overdoses

The CDC continues to track opioid overdose deaths because the prevalence of drug overdose deaths involving opioids remains high. In 2019, opioids were responsible for almost 50,000 deaths, more than six times the amount of opioid-related overdose deaths in 1999. It’s critical to figure out and classify which drugs are involved in an overdose, how frequently they’re involved, and how their involvement evolves over time. We can better identify effective preventative and response efforts by identifying drug involvement.

Historically, the National Vital Statistics System mortality data (NVSS-M) was utilized to analyze overdose death data, with the combined categories of natural, semi-synthetic, and synthetic opioids (including methadone) being used to report on overdose deaths involving prescription opioids.

Scope of the Study

Market Segments Covered in the Report:

By Application

• Pain Management
• Cough Treatment and
• Diarrhea Treatment

By Product Type

• Methadone
• Oxycodone
• Hydrocodone
• Fentanyl
• Codeine
• Morphine and
• Others

By Geography

• North America
• Europe
• Asia Pacific
• LAMEA

Key Market Players

• Johnson & Johnson
• AstraZeneca PLC
• Boehringer Ingelheim International GmbH
• Endo International PLC
• Mallinckrodt PLC
• Sanofi S.A.
• Pfizer, Inc.
• Teva Pharmaceuticals Industries Ltd.
• Sun Pharmaceutical Industries Ltd.
• Purdue Pharma L.P.

For more information about this report visit https://www.researchandmarkets.com/r/wzzcu0

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