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Opioid Drugs markets trends to 2024 illuminated by new report

Medical & Health

North America was the leading market for opioid, accounting for approximately 65% revenue share in 2018, followed by Europe with around 20% share in 2018. Factors such as increasing palliative care facilities, reformed regulations for prescription of opioids, and extensive focus of generic manufacturers. Increased focus on palliative care and rising healthcare expenditure are leading factors which promote the growth of opioids in Asia Pacific.

An opioid is a type of narcotic pain medication that is used to treat moderate to severe pain. It is used as an anesthesia, cough suppressant, diarrhea suppressant and to reduce surgical pain, injury or trauma, cancer pain and pain arising from disease.

Opioids are largely used in cancer pain management and end-stage diseases in which palliative care is required. However, these can be addictive due to their analgesic nature.

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The global market for opioid drugs was valued at REDACTED in 2017. The market is expected to grow at a compound annual growth rate (CAGR) of REDACTED to reach approximately REDACTED by 2023.

Growth of the global market is attributed to the factors such as the growing prevalence of cancer, high demand for pain therapeutics in treatment of chronic pain, regulatory approvals and launches of innovative drug formulations, and growing approval rate of abuse deterrent formulations of opioid drugs.

The opioid drug market is a fragmented market with numerous small and large players. Market players are investing in the development of novel therapeutics, which is anticipated to drive the market during the forecast period.

The global opioid drug market is segmented based on the product and region. This report highlights the current and future market potential of opioid drugs along with detailed analyses of the competitive environment, regulatory scenario, pipeline analysis, technological advancement and market dynamics.

The current report offers a detailed picture of the prescription opioid drug market. Prescription opioids are included in the scope of study; illegal opioids such as heroin, which are sold in illegal market for illicit usage, are not included.

The market estimation includes all branded and generic opioid drugs indicated for different therapeutic application such as pain management and opioid use disorders.

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The report details market shares of opioid drugs based on product and geography. Based on product, the market is segmented into buprenorphine, fentanyl, hydrocodone, morphine, oxycodone, tramadol and others.

Each product segment includes detailed analyses covering an overview of drug, mechanism of action and market insights on each drug.

Key players in the global opioids market include Pfizer Inc., Purdue Pharma, Boehringer Ingelheim, Janssen Pharmaceuticals, Inc., Actavis Plc., Sanofi, Sun Pharmaceutical Industries Ltd., Mallinckrodt Pharmaceuticals, Endo Pharmaceuticals Inc. and Egalet.

Report Includes:

- 20 data tables and 38 additional tables

- An overview of the global market for opioid drugs

- Analyses of global market trends, with data from 2017 to 2018, and projections of compound annual growth rates (CAGRs) through 2023

- Discussion of types, mode of action and receptor target of opioids drugs i.e. Mu receptor, Delta receptor and Kappa receptor

- Details of technological advancement for new opioid formulation to reduce the risk of drug abuse

- Case study of opioid addiction, opioid abuse and overdose and significant events addressing opioid misuse and abuse

- Information on stringent regulatory policies and government guidelines to impede the adoption rate of the opioid drugs

- Insights of new safety measures announced for immediate release (IR) opioids and CDC guidelines on prescribing opioids for chronic pain

- Company profiles of the major players of the market, including Acura Pharmaceuticals Inc., Cipher Pharmaceutical Inc., Daiichi Sankyo Inc., Johnson & Johnson, Lupin Ltd., Pfizer Inc., Sun Pharmaceuticals and Teva Pharmaceutical Industries Ltd.

Download Complete Report on Opioid Drugs: Global Markets to 2023 Now at…ase?rname=1809250 .

By geography, the market has been segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. Detailed analyses of major countries such as the U.S., Germany, the U.K.

France, Japan, China and India are covered in regional segments. For market estimates, data has been provided for the year 2017 and the base year of 2018 and forecast for 2023.

Estimated values used are based on drug manufacturers' total revenues. Projected and forecasted revenue values are in constant U.S.

dollars, unadjusted for inflation. Long-term use of opioids can cause drug dependency and addiction and increase in drug abuse is resulting in high death rates.

For instance, according to the American Society of Addiction Medicine, in 2014, around 18,893 people died from drug overdose and approximately 10,574 deaths were reported because of heroin overdose.

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