Global Opioids Market to Surpass US$ 52,732 Million by 2028, Says Coherent Market Insights

SEATTLE, Jan. 24, 2022 /PRNewswire/ -- According to Coherent Market Insights, the global opioids market is estimated to be valued at US$ 42,429 million in 2021 and is expected to exhibit a CAGR of 3.2% during the forecast period (2021-2028).

Key Trends and Analysis of the Global Opioids Market:

Key trends in the market include increasing prevalence of chronic diseases such as cancer, increasing product approvals by regulatory authorities, and inorganic activities such as collaborations and agreements.

For instance, according to data findings by the World Health Organization (WHO), in February 2018, cancer was the second-leading cause of death globally, and around 18.1 million new cases and 9.6 million deaths were registered due to cancer globally.

The increasing product approvals by the regulatory authorities is expected to aid in the growth of the global opioids market over the forecast period. For instance, in September 2019, Elite Pharmaceuticals, Inc., a specialty pharmaceutical company developing abuse-deterrent opioids, received approval form the U.S. Food and Drug Administration (FDA), for an Abbreviated New Drug Application (ANDA) for a generic version of Tylenol(R) with Codeine  300mg/15mg, 300mg/30mg, and 300mg/60mg tablets.

Key players in the market are focused on commercializing low risk opioids. For instance, in January 2018, Depomed, Inc., now known as Assertio Therapeutics, Inc., is an American specialty pharmaceutical company, which announced the closing of commercialization agreement with Collegium Pharmaceutical Inc. for the U.S. rights to commercialize both NUCYNTA Extended Release and NUCYNTA Immediate Release for management of short-term (acute) pain in adults.

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Key Market Takeaways:

Increasing prevalence of cancer and product launches by market players are expected to drive growth of the global opioids market over the forecast period. For instance, according to the National Cancer Registry Program (NCRP) data of 2018, one woman dies of cervical cancer every eight minutes in India. For every two women newly diagnosed with breast cancer, one woman dies of it in India.

Key players operating in the global opioids market include Teva Pharmaceutical Industries Ltd., Johnson & Johnson, Endo International plc, Lupin Limited, Cadila Healthcare Limited, Purdue Pharma L.P., AbbVie Inc., Fresenius Kabi, Mallinckrodt Pharmaceuticals, Pfizer Inc., Rhodes Pharmaceuticals L.P., Sun Pharmaceutical Industries Limited, Nesher Pharmaceuticals (USA) LLC, Amneal Pharmaceuticals LLC, Trevena Inc., and Aurobindo Pharma Limited.

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Detailed Market Segmentation:

Global Opioids Market, By Drug Type:

• Codeine
• Fentanyl
• Morphine
• Hydrocodone
• Oxycodone
• Others

Global Opioids Market, By Application:

• Analgesia
• Cough Suppression
• Diarrhea Suppression

Global Opioids Market, By Route of Administration:

• Oral
• Topical
• Parenteral
• Others

Global Opioids Market, By Distribution Channel:

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

Global Opioids Market, By Region:

• North America
• By Country:
• U.S.
• Canada
• Europe
• By Country:
• U.K.
• Germany
• Italy
• France
• Spain
• Russia
• Rest of Europe
• Asia Pacific
• By Country:
• China
• India
• Japan
• ASEAN
• Australia
• South Korea
• Rest of Asia Pacific
• Latin America
• By Country:
• Brazil
• Mexico
• Argentina
• Rest of Latin America
• Middle East & Africa
• By Country:
• GCC Countries
• Israel
• South Africa
• Rest of Middle East & Africa

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About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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SOURCE Coherent Market Insights