Global Opioids Market By Product Type (Codeine, Methadone, Morphine, Oxycodone, Others), By Application (Pain Management, Diarrhea Treatment, Cough Treatment, Anesthesia), By Route of Administration (Oral, Injectable, Others), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Others), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2024-2033
- Published date: Feb 2024
- Report ID: 55944
- Number of Pages: 300
- Format:
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Report Overview
The Global Opioids Market size is expected to be worth around USD 29.5 Billion by 2033 from USD 22.2 Billion in 2023, growing at a CAGR of 2.9 % during the forecast period from 2024 to 2033.
Opioids are a class of drugs that act on the nervous system to relieve pain. They are derived from opium or synthetic versions that mimic the effects of natural opium compounds. Opioids are commonly prescribed for the treatment of acute and chronic pain, as well as for managing pain after surgery. They can also be used to relieve severe coughing or diarrhea.
Opioids market growth can be attributed to factors like increasing incidence of orthopedic diseases and prevalence of chronic conditions like cancer. Furthermore, disposable income rises and elderly populations grow. However, emerging cannabis markets and legalization pose potential threats during this forecast period.
The global opioids market refers to the market for pharmaceutical opioids, which includes both prescription opioids and illicitly manufactured opioids. This market has grown significantly over the past few decades, driven primarily by increasing demand for pain management medications.
Key Takeaways
- Market Size: Global Opioids Market size is expected to be worth around USD 29.5 Billion by 2033 from USD 22.2 Billion in 2023.
- Market Growth: The market growing at a CAGR of 2.9 % during the forecast period from 2024 to 2033.
- Product Analysis: The oxycodone segment leads with 41.8% market share in the global opioid market.
- Application Analysis: The pain management segment was dominate 39.5% market share of the global opioid market by 2023.
- Route of Administration Analysis: The injectables segment dominated the global opioid market by 74.6% due to the growing approval of new opioid injectables.
- Distribution Channel Analysis: The retail pharmacy segment dominated 61.4% the market in 2023.
- Regional Analysis: Due to its large number of pharmaceutical companies and well-developed healthcare industry, North America held the largest share 26.8%.
- Overuse and Prescription Opioids: Over the years, opioid prescriptions have seen an unprecedented resurgence and this trend is fuelling concerns about misuse, addiction and overdoses.
- Opioid Epidemic: Many regions, particularly in the US, have witnessed an opioid epidemic marked by sharply rising overdose deaths and related regulatory scrutiny as well as public health initiatives.
By Product Analysis
The global opioid market is segmented based on products such as Codeine, Methadone, Morphine, Oxycodone, and Others. The oxycodone segment leads with 41.8% market share in the global opioid market. The availability of long-acting, extended-release opioids is a major reason for this dominance. Oxycodone and Hydrocodone are the most commonly prescribed ER/long-acting opioids.
Fentanyl, a synthetic opioid, is approved to treat severe chronic pain in patients with advanced-stage cancer. The global opioid market segment growth is expected to be fueled by the increasing incidence of chronic diseases.
By Application Analysis
The market is segmented per applications such as Pain Management, Diarrhea Treatment, Cough Treatment, and anesthesia. The pain management segment was dominate 39.5% market share of the global opioid market by 2023 and is projected to maintain this position during the forecast period (2023-2032).
Thus, increasing surgical operations augment the demand for medicines to manage post-operative pain. Anesthesia is estimated to be the fastest-growing segment during the forecast period. Intravenous opioids are used to provide analgesia and supplement sedation during general anesthesia. Thus, increasing anesthesia practices are anticipated to boost demand for intravenous opioids, driving the market growth.
By Route of Administration
By route of administration type, the global opioids market is segmented into injectables, oral, and others. The injectables segment dominated the global opioid market by 74.6% due to the growing approval of new opioid injectables. The United States FDA approved morphine sulfate injectable in April 2021. This opioid analgesic is used to manage severe pain arising from different conditions. The segment growth is expected to be driven by this approval. Due to the approval of opioid tablets, oral growth is expected to be the fastest during the forecast period.
By Distribution Channel
Based on distribution channels, the global opioids market is segmented into retail pharmacies, hospital pharmacies, and others. The retail pharmacy segment dominated 61.4% the market in 2023 and is also anticipated to grow the fastest during the forecast period (2024-2033). Owing to the easy availability of medicines and the high opioid dispensing rate.
Key Market Segments
By Product Type
- Codeine
- Methadone
- Morphine
- Oxycodone
- Others
By Application
- Pain Management
- Diarrhea Treatment
- Cough Treatment
- Anesthesia
By Route of Administration
- Oral
- Injectable
- Others
By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Others
Drivers
The opioid market is expected to exhibit significant growth during the forecast period, owing to a surge in demand for ideal products for treating pain, cough, and diarrhea. The factors that drive the market’s growth include using these drugs to reduce pain and the rise in the old people population that majorly contains orthopedic pain. In addition, the increase in the number of people suffering from chronic pains is significantly high. This is anticipated to drive the growth of the global opioid market.
Restraints
High Rate of Opioid Addiction
The surge in opioid addiction globally and the implementation of strict government regulations for opioid products are anticipated to restrain the market growth. In addition, the increase in the death count due to the overdose of these drugs is a major factor hampering the opioids market growth. Additionally, the addictive nature of opioids has led to drug misuse while showing various side effects.
Opportunities
Technological Advances and the Increasing Number of Government Initiatives Create the Opportunity for Global Market
The development of novel biomarkers for sepsis diagnostics and the launch of technologically advanced products are also boosting the growth of this market. The growing demand for cost-effective and accurate diagnostic methods for sepsis is further propelling the market growth. The growing number of collaborations between governments and private firms to develop diagnostic kits is also expected to drive the growth of this market.
Regional Analysis
North America Dominates the Global Opioid Market During the Forecast Period
Due to its large number of pharmaceutical companies and well-developed healthcare industry, North America held the largest share 26.8% in the global market for sepsis diagnostics in 2023. The increasing acceptance of opioid-based medications to address the growing unmet medical need in the region can explain this dominance. The COVID-19 pandemic in the United States forced healthcare systems to shift resources toward COVID-19-designated sites and intensive care units. To reduce the risk of the virus spreading, non-urgent and emergency outpatient chronic pain services were cut or discontinued during the COVID-19 Pandemic 2020.
Chronic pain sufferers remain isolated, with a consequent psychological and social impact. Chronic pain management was affected by the US government’s lockdown during the COVID-19 pandemic. According to the Canadian government, 7.9 million people, or one in five, will suffer from chronic pain in 2022. Chronic pain in Canada significantly affected the country’s mental, physical, and family health and the economy. These factors will result in significant market growth during the forecast period.
Hikma Pharmaceuticals, for instance, launched a generic version of Buprenorphine injection in May 2020. Buprenex is a prescription opioid that treats moderate to severe pain. This injection is helpful for severe pain management. A 5mL intravenously administered injection costs USD 89. Asia Pacific will be the fastest-growing region in the forecast period. The government’s efforts to curb opioid misuse in the region are responsible for the region’s growth. The prescription rate of high-quality opioids for pain management should be increased to drive the opioid market growth.
Key Regions
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Key Players Analysis
For greater market share and regional expansion, major players are using strategies like mergers & acquisitions. Adalvo purchased Onsolis, a brand-named opioid product, from a well-respected U.S.-based specialty pharmacist company in August 2022. This opioid is used to manage chronic pain in patients with cancer. The acquisition will increase the company’s portfolio of opioid products and provide a great opportunity for growth.
Below are some of the most prominent global opioid market key industry players.
Market Key Players
- Purdue Pharma L.P.
- Hikma Pharmaceuticals PLC
- Johnson & Johnson Services, Inc.
- Pfizer, Inc.
- Sanofi
- AbbVie Inc.
- Sun Pharmaceutical Industries Ltd
- Grünenthal
- Other Key Players
Recent Developments
- March 2023: Hikma Pharmaceuticals PLC Received FDA approval for its generic oxycodone immediate-release tablets, expanding its opioids portfolio.
- June 2023: Pfizer, Inc. Advocated for stricter regulations on opioid prescribing and increased access to non-opioid pain management options.
- August 2023: Sanofi Collaborated with the National Institute on Drug Abuse to study the effectiveness of Sublocade in combination with behavioral therapy.
- October 2023: Purdue Pharma L.P. Settled lawsuits with several states over its role in the opioid crisis, but still faces potential criminal charges.
Report Scope
Report Features Description Market Value (2023) USD 22.2 Billion Forecast Revenue (2033) USD 29.5 Billion CAGR (2024-2033) 2.9% Base Year for Estimation 2023 Historic Period 2018-2022 Forecast Period 2024-2033 Report Coverage Revenue Forecast, Market Dynamics, Competitive Landscape, Recent Developments Segments Covered By Product Type (Codeine, Methadone, Morphine, Oxycodone, Others), By Application (Pain Management, Diarrhea Treatment, Cough Treatment, Anesthesia), By Route Of Administration (Oral, Injectable, Others), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Others) Regional Analysis North America – The US, Canada, & Mexico; Western Europe – Germany, France, The UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic, & Rest of Western Europe; Eastern Europe – Russia, Poland, The Czech Republic, Greece, & Rest of Eastern Europe; APAC – China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, & Rest of APAC; Latin America – Brazil, Colombia, Chile, Argentina, Costa Rica, & Rest of Latin America; The Middle East & Africa – Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, & Rest of MEA. Competitive Landscape Purdue Pharma L.P., Hikma Pharmaceuticals PLC, Johnson & Johnson Services, Inc., Pfizer, Inc., Sanofi, AbbVie Inc., Sun Pharmaceutical Industries Ltd, Grünenthal, Other Key Players Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements. Purchase Options We have three licenses to opt for: Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF) Frequently Asked Questions (FAQ)
What are opioids?Opioids are a class of drugs that include prescription pain relievers, synthetic opioids like fentanyl, and illegal drugs like heroin. They are known for their pain-relieving properties.
How big is the Opioids Market?The global Opioids Market size was estimated at USD 22.2 Billion in 2023 and is expected to reach USD 29.5 Billion in 2033.
What is the Opioids Market growth?The global Opioids Market is expected to grow at a compound annual growth rate of 2.9%. From 2023 To 2033
Who are the key companies/players in the Opioids Market?Some of the key players in the Opioids Markets are Purdue Pharma L.P., Hikma Pharmaceuticals PLC, Johnson & Johnson Services, Inc., Pfizer, Inc., Sanofi, AbbVie Inc., Sun Pharmaceutical Industries Ltd, Grünenthal, Other Key Players.
What is the Opioids Market?The Opioids Market refers to the industry related to the production, distribution, and use of opioid medications, both legal and illicit.
What is the primary medical use of opioids?Opioids are primarily used for the management of moderate to severe pain, especially in post-surgical, cancer-related, or chronic pain conditions.
Are there non-opioid alternatives for pain management?Yes, there are non-opioid pain management options, including non-steroidal anti-inflammatory drugs (NSAIDs), physical therapy, and alternative therapies like acupuncture.
How does the Opioids Market address addiction and overdose concerns?The market focuses on developing abuse-deterrent formulations, raising awareness, and implementing stricter prescribing guidelines to mitigate addiction and overdose risks.
- Purdue Pharma L.P.
- Hikma Pharmaceuticals PLC
- Johnson & Johnson Services, Inc.
- Pfizer, Inc.
- Sanofi Company Profile
- AbbVie Inc. Company Profile
- Sun Pharmaceutical Industries Ltd
- Grünenthal
- Other Key Players
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