North America Opioid Market Is Witnessing Significant Growth Due To Expanding Applications Of Opioids In Various Therapeutic Conditions Till 2024
The North America opioid market is expected to reach
USD 18.5 billion by 2024, according to a new report by Grand View Research,
Inc. Favorable regulations and healthcare reforms are providing an environment,
conducive for research and development as well as commercialization efforts
directed toward the development of novel abuse-deterrent opioids, to flourish
and drive the industry growth during the forecast period. Furthermore, the key
players are deploying large funds in the development of abuse-deterrent
technology wherein drugs are designed to be tamper resistant. This is achieved
through alterations involving, among others, the use of physical or chemical
barriers to resist convenient extraction of the opioids, the addition of an
aversive agent to the formulation that would yield an unpleasant effect upon
its extraction, and the formulation of opioid prodrugs that are dependent on
enzymatic activity in order to be rendered to their active forms.
These
tamper-resistant opioid drug forms are anticipated to mitigate the incidence of
their misuse.
U.S. Opioid Market, By Application, 2013 - 2024 (USD Million) |
Opioids
are the mainstay of chronic pain management that is used to alleviate varied
pain conditions. Opiates including codeine and morphine are frequently employed
as cough suppression medication. Codeine is considered as a gold standard for
cough suppression since it has minimal side effects. Moreover, these
narcoticsare used in the treatment of irritable bowel syndrome-induced diarrhea
since they act on gastrointestinal receptors. In addition, peripherally acting
loperamide is commonly used to suppress diarrhea. Thus, theprofitable growth of
the Opioid Market lies in its breadth of applications in the management of
diverse conditions including cough, diarrhea, and pain.
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research report on North America Opioid Market: www.grandviewresearch.com/industry-analysis/north-america-opioid-market
Further
Key findings from the study suggest:
- The extended-release opioids segment accounted
for the largest share over 55% in 2015. The dominance of the segment is
attributed to the high usage of these drugs for chronic pain management
and the development of innovative dosage forms, such as transdermal
patches.
- Market share of the immediate-release dosage
formsincluding morphine and codeine, is expected to decline owing to the
frequent product recalls and severe side effects associated with their
use. The segment is estimated to witness a CAGR of around 1.7% over the
forecast period.
- In terms of applications, the pain relief
segment held the largest market share in 2015 with a revenue generation of
over 9.3 billion. The extensive amount of pain caused during chemotherapy
and radiotherapy are the primary factors resulting in the increasing
incorporation of these drugs in the cancer segment.
- The post-operative pain management segment is
expected to be the fastest growing application in the pain relief
category.As a result of their high applicability in post- surgical pain
management, the rise in number of surgical procedures is expected to fuel
the sectorpenetration of opioids in the near future.
- The U.S. region dominated the global Opioid
Market with a sizable revenue share in 2015. One of the major determinants
is the growing geriatric population with clinically demonstrated
susceptibility to terminal conditions, such as rheumatoid arthritis, is
positively impacting this vertical.
- In addition, the increasing adoption of opioids
for pain management related to trauma and injury cases, in severe and
chronic disabling diseases, and in cases of post-surgical pain, is driving
the growth of the market in the North America region
- The Canada regional verticalis expected to
witnesssignificant growth over the forecast period with a CAGR of over
5.3% due tothe improvinghealthcare infrastructure and the presence of
favorable government reforms governing the use of narcoticsin the
treatment of both, acute and chronic pain, as well as in the cases of
persistent cough and diarrhea. Additionally, the expanding generic drugs
market in this region is expected to provide a potential growth platform
for the key players in this vertical.
- Some of the leadingplayers in this
verticalinclude Pfizer, Inc., Purdue Pharma L.P., Janssen Pharmaceuticals,
Inc., Allergan Plc (Actavis), and Egalet Corporation. Extensive research
and development endeavors carried out by companies with the aim of
expanding their product pipeline are expected to boost the growth of this
sector.
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reports of this category by Grand View Research: www.grandviewresearch.com/industry/pharmaceuticals
Grand View Research has segmented the North America opioids market on the
basis of product, application,and region:
North
America Opioid Market, product outlook by revenue (USD Million, 2014 - 2024)
- Immediate
- release / Short - acting Opioids
- Codeine
- Oxycodone
- Hydrocodone
- Fentanyl
- Morphine
- Hydroxymorphone
- Oxymorphone
- Propoxyphene
- Other
IR opioids
- Extended
- release / Long - acting Opioids
- Oxycodone
- Hydrocodone
- Methadone
- Fentanyl
- Morphine
- Oxymorphone
- Tapentadol
- Buprenorphine
- Hydromorphone
- Other
ER opioids
North
America Opioid Market, application outlook by revenue (USD Million, 2014 -
2024)
- Pain
Relief
- Cancer
Pain
- Post-operative
Pain Management
- Low
Back Pain
- Orthopedic
- Neuropathic
Pain
- Fibromyalgia
- Anesthesia
- Cough
Suppression
- Diarrhea
suppression
- De -
addiction
North
America market, regional outlook by revenue (USD Million, 2014 - 2024)
- U.S.
Access
Press Release By Grand View Research: www.grandviewresearch.com/press-release/north-america-opioid-market-analysis
About Grand
View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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