Opioids Market Strongly Driven by Rising Global Demand

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Opioids, a group of narcotic pain-management drug are mostly used in developed countries. However the usage is restricted to prescribed users only. The product is used as an anesthesia, diarrhea suppressant, cough suppressant, and for the management of pain. Rising prevalence of diseases that results into chronic pain, such as postsurgical pain, cancer, lower back pain, arthritis, and fibromyalgia, is driving the market growth.

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On the other hand, once widely stigmatized, medical marijuana is projected as the potential antidote to the epidemic which is leading to over two-thirds of deaths annually in the U.S. Recent studies detected a substantial decrease in both drug abuse and overdose deaths from the prescription painkillers where medical marijuana has been legalized. Biotech and pharma companies believe that the products will become the predominant opioid substitute for the chronic pain management and will provide a wide variety of various other beneficial therapies.

Segment Overview

Fentanyl, an extended release opioid commanded the major market share of opioids by product in 2018 owing to high usage in chronic pain management. However, the misuse and abuse of these drugs have caused a serious public health crisis in major countries. As a result, the U.S. FDA in Sept 2018, released final Opioid Analgesic Risk Evaluation and Mitigation Strategy for ER and IR opioids. The plan will help reduce overall exposure to the drugs and consequently reduce the addiction rate.

On the basis of application, pain management commanded the major opioid market share in 2018. However, product usage for the pain is anticipated to decline over the period owing to the implementation of the new regulatory framework. The new guideline has been designed by CDC for prescribing opioids for the chronic pain. According to the guideline, it has been suggested that non-opioid therapy or treatment should be preferred for various chronic pain other than the palliative, active cancer, end-of-life care.

 
 
Competitor overview

Some of the key market players are Purdue Pharma L.P.; Allergan; West-Ward Pharmaceuticals Corporation; Janssen Pharmaceuticals, Inc.; Pfizer, Inc.; Egalet Corporation; and Sun Pharmaceutical Industries Limited. Key players are majorly focusing on expanding their business units in different regions to increase the market share.

For Instance, Purdue Pharma is entering rapidly into Latin America, Asia, and Middle East and Africa. The company is focusing on organizing awareness programs where the doctors are advised to prescribe painkillers to help the patients overcome opiophobia.

Key Players

  1. Purdue Pharma L.P
  2. West-Ward Pharmaceuticals Corporation
  3. Janssen Pharmaceuticals, Inc.
  4. West-Ward Pharmaceuticals Corporation
  5. Sanofi-Aventis S.A.
  6. Pfizer, Inc.
  7. ALLERGAN (Actavis)
  8. Sun Pharmaceutical Industries Limited
  9. Grunenthal Gmbh

Market Segmentation

By Product

  • Morphine
  • Fentanyl
  • Codeine
  • Meperidine

By Application

  • Diarrhea Suppression
  • Anesthesia, Pain Management
  • Cough Suppression
  • De-addiction

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