Opioids Market

Market Overview

The global opioids market size was valued at USD 25.6 billion in 2022. It is projected to reach USD 32.25 billion by 2031, growing at a CAGR of 1.95% during the forecast period (2023–2031). The opioid industry is poised for substantial growth due to increasing demand for pain, cough, and diarrhea treatments. Market players are primarily focusing on launching generic versions of various opioid drugs, driving accelerated market expansion throughout the forecast period.

Opioids are medications used to treat severe or persistent pain, such as chronic headaches and backaches, by patients recovering from surgery or experiencing severe pain associated with cancer, as well as by adults and children who have been injured while playing sports or who have been severely injured in falls, auto accidents, or other incidents. Narcotics is another term for opiates. Depending on the patient, the situation, and the type and level of pain, doctors prescribe different types of opioids with varying potencies that can be administered in various ways. Despite the fact that some opioids can be used to treat cough and diarrhea, the majority of opioid prescriptions are used to treat moderate to severe pain. Opioid prescription medications consist of hydrocodone, oxycodone, codeine, fentanyl, methadone, morphine, and others. Opioids are the most frequently prescribed medications for the treatment of moderate to severe chronic pain. These analgesics are used to treat severe, constant pain in patients with terminal illnesses and to manage pain in cancer patients.

Market Dynamics

Market Drivers

Strong Agonists Will Drive The Market

On a daily basis, many individuals worldwide experience pain. Specifically, the Chronic Pain Association of Canada (CPAC) estimated in its 2019 report that chronic pain patients experienced a decline in quality of life as their pain increased. In addition, between 17 and 31% of individuals experience chronic pain. 50% of hospitalized patients experience acute pain of moderate to severe intensity. The annual direct medical costs per patient for the treatment of chronic pain ranged from $10,000 to $14,000.

A drug molecule that activates specific brain receptors is known as an agonist. This agonist produces a significant physiological/pharmacological response when only a small number of receptors are occupied, indicating that the drug has high intrinsic activity. Fentanyl, morphine, dihydromorphinone, meperidine, oxycodone, and oxymorphone are examples of opioids that act as potent agonists.

Methadone is a potent agonist that effectively treats dependence on opioid drugs (such as heroin). Opioid receptors undergo significant conformational changes in response to the binding of potent agonists.

The Need To Combat Pain And A Rising Geriatric Population Is Driving The Market

Due to a rise in demand for pain, cough, and diarrhea-treating products, the market for opioids is anticipated to experience significant expansion over the forecast period. An increase in the consumption of these drugs to combat pain and an increase in the proportion of the geriatric population that is highly susceptible to orthopedic pain are some of the primary factors driving the expansion of the market. In addition, the global increase in the number of individuals suffering from chronic pains is notably high. This is expected to drive the global opioid market's expansion. According to the National Health Interview Survey (NHIS) conducted by the Centers for Disease Control and Prevention (CDC) in 2019, the prevalence of high-impact chronic pain in the United States was 7.4 percent. In addition, an increase in disposable income in emerging markets such as India, China, and others contributes to the expansion of the market.

Rising Number of Product Launches

Players in the market mainly concentrate on releasing generic versions of various opioid drugs, which is anticipated to accelerate market growth throughout the forecast period. For instance, in December, Amneal Pharmaceuticals' Impax Laboratories, Inc. introduced a generic version of Kadian Extended-Release Capsules, USP CII 20, 30, 50, 60, 80, and 100 mg 2016. These capsules are designed specifically to treat severe chronic pain.

Market Restraints

Addiction And Side Effects Act As Major Setbacks For The Market

Opioids create Gastrointestinal problems in some patients where a patient may suffer from constipation, nausea, and vomiting when he or she starts taking opioids. If the patient becomes tolerant to the drug, then he/she may need more drugs to achieve the same effect in easing pain hence resulting in drowsiness, slow reflexes, or trouble staying focused. Moreover, using opioids for an extended period of time can develop a dependency, and after leaving the drug, the patient may suffer from withdrawal symptoms such as anxiety, irritability, drug cravings, tremors (shaking), and others.

Moreover, some market players are focusing on initiating non-opioid pain treatment products, which are expected to hinder the market growth.

Cannabis as an alternative

The introduction and legalization of cannabis as an opioid substitute limit market expansion. As experts continue to look at the potential health advantages of cannabis amid a growing national opioid crisis, a new survey reveals that medical cannabis may be a viable alternative to powerful but highly addictive opioids frequently used for pain management. as a result, the market's expansion is constrained.

Market Opportunities

Research And Developments Are Expected To Bring In New Opportunities

Increasing research and development in the synthesis of hybrids targeting opioid and neurokinin receptors is anticipated to create lucrative growth opportunities for market participants. In December 2019, for instance, researchers from the Medical University of Lodz reported the synthesis, structure-activity relationship, and pharmacological characterization of a series of hybrids combining opioid pharmacophores with either substance P (SP) fragments or neurokinin receptor (NK1) antagonist fragments in order to comprehend the role of the neurokinin system in opioid-induced antinociception.

According to a study by Eugenio Cavalli et al., published in the International Journal of Immunopathology and Pharmacology in 2019, the prevalence of neuropathic pain in the general population was estimated to range between 3 and 17 percent globally. Opioid therapy is, therefore, the cornerstone of orthopedic treatment for patients with moderate to severe pain, and this helps to drive the market's overall expansion. However, factors such as the introduction and legalization of cannabis as an alternative to opioids and prescription drug abuse are anticipated to restrain the market growth during the forecast period.

Demand for Retail Pharmacies is Growing

There will be significant prospects for market expansion due to the rise in open-angle glaucoma treatments offered through retail pharmacies and the number of pharmacies in highly developed nations. In addition, patients prefer retail pharmacies because of their accessibility when buying medications.

Regional Analysis

The Opioids Market is analyzed regionally for North America, Asia-Pacific, Europe, and LAMEA. North America held the largest share of the Opioids Market in 2018, accounting for the largest market size, and this trend is anticipated to continue throughout the forecast period. In the United States, regulatory agencies such as the Food and Drug Administration are approving an increasing number of products. In August of 2020, for instance, Trevena Inc., a biopharmaceutical company, received FDA approval for Olinvyk (oliceridine), an opioid medication indicated for short-term intravenous use in hospitals or other controlled clinical settings, such as during inpatient and outpatient procedures. Moreover, the rising incidence of orthopedic diseases, increasing prevalence of chronic diseases such as cancer and diabetes, a rise in disposable income, a surge in the geriatric population, and the presence of key market players in the region are the major factors driving the North American Opioids Market size.

Furthermore, the rising number of cancer pain patients in the United States is accelerating the growth of the cancer survivor population, which in turn is driving the expansion of the market. According to a research article by Changchuan Jiang et al., published in JAMA Oncology Journal 2019, among 4,526 cancer survivors, 1,648 reported having chronic pain, and 768 had high-impact chronic pain (HICP), representing approximately 5.39 million and 2.5 million cancer survivors, respectively.

In the coming years, the Asia-Pacific opioids industry share is anticipated to experience the greatest growth as companies such as Purdue Pharma shift their focus to this region in an effort to strengthen their market position.

Segmental Analysis

The Opioids market share is segmented by product type, application, and geography. The market is segmented into codeine, fentanyl, oxycodone, methadone, morphine, hydrocodone, and others, based on the type of product. The market is divided into pain management, cough treatment, and diarrhea treatment based on their application. The pain management segment is further subdivided into neuropathy, migraine, back pain, osteoarthritis, and cancer pain.

By substance type, the Opioids Industry is segmented into codeine, fentanyl, oxycodone, methadone, morphine, hydrocodone, and others. Oxycodone was the segment that generated the most revenue in 2020, and this trend is expected to continue throughout the forecast period as oxycodone's global adoption rises. On the other hand, the demand for fentanyl is anticipated to increase at the quickest rate during the forecast period, owing to its increased usage.

A synthetic opioid called fentanyl has been licensed to treat people with advanced-stage cancer who experience severe persistent pain. Thus, it is anticipated that the occurrence of chronic diseases will drive sector expansion. According to the Centers for Disease Control and Prevention (CDC), about six out of ten Americans have a chronic illness, such as diabetes, cancer, heart disease, or a stroke. Patients with these chronic diseases experience extreme pain, which leads to rising demand for painkilling extended-release tablets, fueling the segment's expansion

By application, the Opioids Industry is divided into the categories of pain management, cough treatment, and diarrhea treatment. The segment for pain management holds the largest share of the Opioids Market and is anticipated to maintain its dominance throughout the forecast period. Due to the rapid increase in the number of patients suffering from chronic headaches, migraine, and backaches, as well as those recovering from surgery or experiencing severe cancer-related pain, as well as those injured in sports-related or traffic-related incidents, this market segment is anticipated to experience a significant growth rate.

Recent Developments

• In November 2022, Teva completed the Terms of National Opioid Settlement.
• In November 2022, Teva Announced a Novel Partnership with Rimidi to Broaden the Respiratory Digital Health Platform's Impact.
• In December 2022, Johnson & Johnson finished acquiring Abiomed.
• In December 2022, According to a recent announcement from Endo International plc (OTC: ENDPQ), the company will no longer manufacture or market Endo Aesthetics' Qwo (collagenase clostridium histolyticum-aaes) due to market concerns regarding the degree and variability of bruising after initial treatment as well as the possibility of long-term skin discoloration.
• In January 2023, Major pharmaceutical company Lupin Limited (Lupin) stated that their New Drug Application for Dolutegravir, Emtricitabine, and Tenofovir Alafenamide (DETAF) Tablets had gained provisional approval from the U.S. Food and Drug Administration (FDA) under PEPFAR. This product would be produced in the Lupin factory in Nagpur, India.