The global opioids market is anticipated to grow at a CAGR of 3.5% during the forecast period (2022-2028). Opioids include morphine, codeine, oxycodone, hydrocodone, and methadone, among others. These are powerful pain relievers with both positive and negative side effects, including the danger of addiction. Chronic disease prevalence is steadily increasing over the world. According to a study published in the International Journal of Immunopathology and Pharmacology in 2019, the global prevalence of neuropathic pain is estimated to be between 3% and 17% in the general population. This, in turn, is driving the demand for opioids medications. The core of orthopaedic treatment for people with moderate to severe pain is opioid medication, which is further accelerating the market growth.
According to the National Institutes of Health (NIH), opioids are commonly used to treat adults suffering from moderate to severe pain, while some opioids can also be used to treat cough and diarrhoea. Since few years, there has been an increase in the demand for opioids, which are used to treat pain. Effective pain management medication has demonstrated the capacity to support patients achieve their clinical goals. Increasing demand for opioids has been witnessed across several areas owing to the increased knowledge of palliative care and favourable reimbursement policies, as well as the implementation of Opioids Maintenance Treatment (OMT).
Major opioids manufacturers are developing commercial and prospective formulations with high efficacy and potency versions, which is expected to offer an opportunity for the market growth. For instance, Fujian Cancer Hospital continued its Phase III clinical trial research of the fentanyl patch in September 2021 to investigate its safety and efficacy in opioid-naive patients with moderate cancer pain. Furthermore, opioids, which are widely used as a pain treatment by the general public, are likely to produce opioid resistance. As a result, producers should expect profitable prospects in the next years as non-abusive opioids are introduced to avoid opioid resistance.
An increase in the number of patients suffering from chronic diseases such as severe cough caused by a lung infection, HIV, and cancer, as well as a large increase in the prescription of pain medications following post-operative operations, are projected to drive opioid consumption. The National Hospice and Palliative Care Organization (NHPCO) is the largest non-profit organisation (NPO) in the US that provides hospice and palliative care services. According to NHPCO, roughly 36.6% of patients admitted to palliative care institutions had cancer, with the other 63.4% suffering from non-cancer diseases. This demonstrates the possibility for the adoption of opioids to be used in non-medication situations in palliative care. In both developed and developing nations, rising pain management awareness initiatives sponsored by local governments, NGOs, regulatory organisations, and healthcare systems are driving forces for opioid drugs. The global demand for opioid medicines is being driven by a growing understanding of palliative treatment in deadly illness conditions. In Europe and North America, favourable reimbursement regulations and increased knowledge of palliative care services are some factors driving the demand for opioid drugs.
Get Sample Copy of Global Opioids Market at: https://orionmarketreports.com/request-sample/?id=114429&submit=Request+Sample%0D%0A
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Product Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Pfizer Inc., Johnson & Johnson Services, Inc., and Sanofi SA, among others.
Get 15% Discount on Buying this Report: https://orionmarketreports.com/request-discount/?id=114429&submit=Request+Discount
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
A full report of Global Opioids Market is available at: https://orionmarketreports.com/global-opioids-market/114429/
Global Opioids Market Report by Segment
By Product Type
- Codeine
- Fentanyl
- Oxycodone
- Methadone
- Morphine
- Hydrocodone
- Others
By Application
- Pain Management
- Cough Treatment
- Diarrhea Treatment
About us:
Orion Market Reports (OMR) endeavors to provide exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.
Media Contact:
Company name: Orion Market Reports
Contact person: Mr. Anurag Tiwari
Email: info@orionmarketreports.com
Contact no: +91 780-304-0404
