Opioids Market to Reach $6.1 Bn, Globally, by 2030 at 3.2% CAGR: Allied Market Research

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Jun 15, 2022, 09:10 ET

Rise in the geriatric population, increase in chronic diseases among individuals and surge in demand for ideal products for the treatment of pain, cough, and diarrhea drive the growth of the global opioids market.

PORTLAND, Ore., June 15, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Opioids Market by Product Type (Methadone, Codeine, Fentanyl, Oxycodone, Morphine, Hydrocodone, Others), by Application (Pain Management, Cough Treatment, Diarrhea Treatment): Global Opportunity Analysis and Industry Forecast, 2020-2030." According to the report published by Allied Market Research, the global opioids industry was estimated at $4.4 billion in 2020 and is expected to hit $6.1 billion by 2030, registering a CAGR of 3.2% from 2021 to 2030.

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Drivers, restraints, and opportunities

Rise in the geriatric population, increase in chronic diseases among individuals, and surge in demand for ideal products for the treatment of pain, cough, and diarrhea drive the growth of the global opioids market. However, implementation of stringent government regulations restrains the growth to some extent. Nevertheless, emergence of high-impact medicines is anticipated to create lucrative opportunities in the industry.

Covid-19 scenario-

Decline in number of patients in clinics & hospitals for surgery gave way to decreased demand for opioids, thus impacting the global opioids market negatively.
However, the market has already started recovering in a full swing.

The pain management segment to dominate by 2030

By application, the pain management segment contributed to the lion's share in 2020, holding more than two-thirds of the global opioids market. However, the cough treatment segment is projected to manifest the fastest CAGR of 4.5% from 2021 to 2030.

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The oxycodone segment to retain the lion's share

By product type, the oxycodone segment held the major share in 2020, garnering nearly one-fourth of the global opioids market. The fentanyl segment, on the other hand, is projected to cite the fastest CAGR of 4.6% throughout the forecast period, due to rise in use of fentanyl across the world.

North America held the major share in 2020

By region, North America, dominated in 2020, garnering nearly two-fifths of the global opioids market. This is because the research activities for opioid drugs in the treatment of cancer pain are on a steep surge in North America. The market across Asia-Pacific, simultaneously, is expected to cite the fastest CAGR of 4.5% throughout the forecast period. This is due to the presence of large patient pool and the growing prevalence of chronic diseases across the province.

Key players in the industry-

AstraZeneca Plc.
C.H. Boehringer Sohn Ag
Ko. Kg, Johnson & Johnson, Inc.
Teva Pharmaceuticals, Sanofi S.A.
Mallinckrodt Pharmaceuticals
Purdue Pharma LP
Pfizer, Inc.
Sun Pharmaceuticals
Endo Pharmaceuticals Inc.

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