Opioids Market Will Grow at a Steady Rate of 4.8% from 2014 to 2025: Grand View Research, Inc.
The
global opioids market size is estimated to reach USD
34.96 billion by 2025, according to a new report by Grand View Research, Inc.,
exhibiting a CAGR of 4.8% during the forecast period. Growing geriatric
population, coupled with increasing focus on palliative care, is estimated to
boost the market. Moreover, increasing number of acquisitions and collaborations
by market players is expected to drive growth.
Furthermore,
rising prevalence of disease conditions with chronic pain, such as cancer,
lower back pain, arthritis, and fibromyalgia is driving the market. Substantial
rise in road accidents and trauma, coupled with constantly increasing cases of
surgical procedures, is also driving demand for opioid-based pain management
solutions.
North
America is leading the opioids market with a share of over 56.0% in 2016. One
of the major reasons for its dominance is rising geriatric population with
terminal conditions, such as rheumatoid arthritis. However, opioid abuse in
U.S. has been rising at an alarming rate. Overdose of opioids has killed over
28,000 people in 2014 alone. Almost half of those deaths were caused by prescription
opioids. Hence, opioid abuse has been declared a “public health emergency” in
U.S., and this is likely to limit the growth of opioids in North America.
Browse full
research report on Opioids Market: www.grandviewresearch.com/industry-analysis/opioids-market
Further key
findings from the study suggest:
- Extended release opioids were the largest product
segment in 2016 due to its high usage in chronic pain management
- Anesthesia is estimated to be the fastest
growing application segment over the forecast period due to factors such
as safety and high drug efficacy
- Cancer pain was the largest pain relief segment
in 2016 owing to global increase in prevalence of cancer
- North America was the largest region in 2016
owing to local presence of key players and increasing adoption of opioids
for pain management
- Europe was the second-largest segment in 2016 due
to factors such rising geriatric population
- Asia Pacific is expected to witness fastest
growth over the forecast period due to increase in geriatric population,
coupled with increase in focus on palliative care
- Some of the key players are Purdue Pharma L.P;
West-Ward Pharmaceuticals Corporation; Allergan; Pfizer, Inc.; Janssen
Pharmaceuticals, Inc.; Egalet Corporation; and Sun Pharmaceutical
Industries Limited
- Most key players are focusing on entering
untapped regions and expanding their product portfolios.
Browse more
reports of this category by Grand View Research: www.grandviewresearch.com/industry/healthcare-it
Grand View Research has segmented the global opioids market on the basis
of product, application, and region:
Opioids
Product Outlook (Revenue, USD Billion, 2014 - 2025)
- Immediate-Release/Short-Acting
Opioid
- Codeine
- Oxycodone
- Hydrocodone
- Fentanyl
- Morphine
- Hydroxymorphone
- Oxymorphone
- Propoxyphene
- Other
IR
- Extended-Release/Long-Acting
Opioid
- Oxycodone
- Hydrocodone
- Methadone
- Fentanyl
- Morphine
- Oxymorphone
- Tapentadol
- Buprenorphine
- Hydromorphone
- Other
ER
Opioids
Application Outlook (Revenue, USD Billion, 2014 - 2025)
- Pain
Relief
- Cancer
pain
- Postoperative
pain management
- Low-back
pain
- Orthopedic
- Neuropathic
pain
- Fibromyalgia
- Anesthesia
- Cough
Suppression
- Diarrhea
Suppression
- Deaddiction
Opioids
Regional Outlook (Revenue, USD Billion, 2014 - 2025)
- North
America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Asia
Pacific
- Japan
- China
- India
- Latin
America
- Brazil
- Mexico
- Middle
East & Africa
- South
Africa
Access
Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-opioids-market
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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