Chronic diseases such as cardiovascular disease, cancer, musculoskeletal diseases, and neurovascular diseases critically affect a person's health by lowering immunity. Moreover, many patients suffering from these conditions experience chronic pain. The diseases mentioned above are most common in adults and the geriatric population. Nevertheless, cases of these diseases are noticeably growing among children as well. Chronic pain is also common among sportspersons, athletes, and individuals living with past injuries. In 2021, the National Center for Injury Prevention and Control of the Centers for Disease Control and Prevention (CDC) reported that chronic pain affects ~20% of adults in the US. The advantage of opioids in pain management propels their demand in chronic disease management procedures.
The surging incidence of chronic pain and the increasing geriatric population are the main factors contributing to the expansion of the opioid market. According to the Congressional Research Service, Americans may get more opioids at the expense of more comprehensive pain therapies. Increased opioid prescribing practices can be attributed to the insurance reimbursement programs that incentivize opioids over alternative pain treatments, cost structures that encourage more efficient care, and evaluations that combine patient satisfaction with effective pain management. Therefore, owing to the advantage of opioids in pain management, the demand is rising among patients with chronic diseases.
The majority of older people live with chronic pain, resulting in reduced strength to carry out their daily activities. The elderly population widely suffers from bone and joint disorders, arthritis, cancer, and other chronic disorders causing pain. According to the World Health Organization (WHO) data from February 2018, the geriatric population is estimated to grow by 22% by 2050 compared with 12% in 2015. The data also stated that low- and middle-income countries would account for nearly 80% of this surge. Developed countries such as the US, Canada, the UK, France, Germany, and Japan, and developing countries such as China, India, and South Korea are also experiencing significant growth in the geriatric population. Thus, the increasing geriatric population is the major driver of the growth of the opioid market across the world.
Opioid market players invest in R&D activities to ensure the development of effective products. In May 2023, Indivior PLC received the US Food and Drug Administration (FDA) approval for OPVEE (nalmefene) nasal spray for emergency use to treat suspected or known opioid overdose induced by synthetic or natural opioids in adults and pediatric patients aged 12 years and more, which is characterized by CNS and/or respiratory depression. Further, in December 2021, Sandoz announced the launch of its generic Narcan (naloxone hydrochloride) Nasal Spray 4mg in the US; the product is used to reverse opioid overdose. Individuals in the US can immediately obtain Narcan via retail pharmacies and institutions, including hospitals. Lastly, in August 2023, Emergent BioSolutions launched the over-the-counter NARCAN Nasal Spray, making it possible for everybody to help save a life from an opioid overdose emergency.
Therefore, strategic initiatives are likely to offer growth opportunities to the opioids market in the coming years.
Key segments that contributed to the derivation of the opioids Market analysis are type, cause, disorder type, category, and end user.
The geographic scope of the opioids market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America dominated the opioid market in 2023. The surging cases of opioid overdose are affecting the growth of the opioid market. As per the World Health Organization (WHO) statistics on opioid overdose, there were 70,630 deaths due to drug overdose in 2019 in the US. The CDC also estimated that ~280,000 people in the country died from the overdose of prescription opioids during 1999–2021. The presence of global market players is another noteworthy factor contributing to the dominance of North America in the global opioids market. Asia Pacific is anticipated to record the highest CAGR in the market in the coming years.
The regional trends and factors influencing the Opioids Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Opioids Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 12.93 Billion |
| Market Size by 2031 | US$ 15.03 Billion |
| Global CAGR (2023 - 2031) | 1.9% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Opioids Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Opioids Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The opioids market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments and strategies in the opioids market:
The “Opioid Market Size and Forecast (2023–2031)” report provides a detailed analysis of the market covering below areas:
The List of Companies - Opioids Market
The opioids market, by application, is segmented into pain management, anesthesia, diarrhea suppression, cough suppression, de-addiction, and others. The pain management held the largest share of the market in 2023. The de-addiction segment is anticipated to register the highest CAGR of 2.4% during the forecast period.
The opioids market was valued at US$ 12.93 billion in 2023.
The opioids market is expected to be valued at US$ 15.03 million in 2031.
The opioids market, by product, is segmented into immediate-release short-acting opioids and extended-release long-acting opioids. The immediate release short acting opioid segment held a larger share of the market in 2023. It is further anticipated to register a higher CAGR of 2.0% in the market during the forecast period.
Surging chronic pain incidences and increasing geriatric population are the major driving factor promoting the growth of the market. However, increasing drug abuse hinders the market opioid marjet growth.
The opioids market majorly consists of the players, including Purdue Pharma LP, Endo International plc, Mallinckrodt Plc, Collegium Pharmaceutical Inc, Neuraxpharm Pharmaceuticals SL, Hikma Pharmaceuticals Plc, Mayne Pharma Group Ltd, Rusan Pharma Ltd, Trevena Inc, Teva Pharmaceutical Industries Ltd
Opioids are the broad group of medicine majorly used for relieving the pain. These medicines are highly effective but can also leads to an addiction. Opioid acts by working on brain receptors and thus provide the varieties of effect including the pain relief. Opioid includes heroin, morphine, codeine, fentanyl, methadone, tramadol, and other similar substances.