Opioids are medications prescribed by doctors and physicians to treat various levels of pain. These can include acute pain and chronic non-cancer pain. They are also known as painkillers and used to block pain signals from the brain. Market Research Future (MRFR) has stressed the advantages of the intake of opioids as well as the efforts by manufacturers to address various issues concerning the drugs. 

Growth Drivers

The global opioids market trends is slated to attain a valuation of USD 29,535.80 million by 2023, as per the latest report by MRFR. Pain management of various chronic diseases remain the primary driver of the market. According to the National Institute of Drug Abuse, nearly 200 million prescriptions were dispensed by U.S. pharmacies in 2017. The large number of prescriptions is an indicator for the large scope of the market.

A Look at the Competition:

Prominent companies operating in the opioids market include Janssen Global Services, LLC, Egalet Corporation, Teva Pharmaceutical Industries Ltd, Pfizer Inc., Sanofi SA, Purdue Pharma L.P, Boehringer Ingelheim GmbH, Allergan Inc., Sun Pharmaceutical Industries Ltd., Mallinckrodt, Vertice Pharma LLC, and West-Ward Pharmaceuticals Corporation. 

Segments In-Detail:

MRFR has segmented the global opioids market by product, application, and end-user. 

Based on the product, the market is segmented into immediate release/short-acting opioid and extended release/long-acting opioid. Extended release comprises hydromorphone, oxycodone, morphine, oxymorphone, viatris opioids and others. The extended release segment had accounted for USD 12,750.91 million in 2017. This segment can expand in the coming years due to rising prevalence of chronic diseases.

By application, it is segmented into diarrhea suppression, deaddiction, cough suppression, pain relief, anesthesia, and others. The pain relief segment is expected to be the dominant application of the opioids market due to rise in pain management therapies. Moreover, new guidelines for selling prescription drugs coupled with rise in palliative and end-of-life care can boost segment growth. This in turn can drive the market demand exponentially.

By end-user, the market caters to academic research institutes, hospitals clinics, and pharmacies.

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