Opioids Global Market Report 2024

The global opioids market has grown steadily in recent years. It will grow from $22.77 billion in 2023 to $23.54 billion in 2024 at a compound annual growth rate (CAGR) of 3.4%. The growth in the historic period can be attributed to pain management, surgical procedures, palliative care, regulatory environment.

The global opioids market is expected to see steady growth in the next few years. It will grow to $26.51 billion in 2028 at a compound annual growth rate (CAGR) of 3.0%. The growth in the forecast period can be attributed to non-cancer pain indications, regulatory changes, telemedicine and remote prescribing, chronic pain management. Major trends in the forecast period include opioid-sparing strategies, medication-assisted treatment (mat), risk mitigation, public health initiatives.

The escalating number of surgical procedures is poised to act as a driving force behind the expansion of the opioids market in the foreseeable future. Surgical procedures encompass a spectrum of medical interventions involving incisions made with specialized tools, typically performed in controlled environments such as operating rooms, often necessitating the use of anesthesia or respiratory support. Opioids play a vital role during surgical procedures for managing pain and can serve as adjuncts to anesthesia or even as primary anesthetic agents. For instance, in August 2023, data from the Organization for Economic Co-operation and Development, an intergovernmental organization headquartered in France, revealed that the Czech Republic witnessed an 8.4% increase in the total number of cataract surgical procedures, rising from 131,612 procedures in 2021 to 142,670 in 2022. Furthermore, the total count of laparoscopic repairs for inguinal hernia surgical procedures in Turkey surged by 35.2%, reaching 25,348 in 2022 from 18,739 in 2021. Hence, the upswing in surgical procedures is poised to propel the opioids market.

The mounting prevalence of chronic diseases is expected to be a pivotal driver for the burgeoning opioids market. Chronic diseases, also recognized as non-communicable diseases (NCDs), encompass a spectrum of persistent medical conditions characterized by gradual progression and prolonged duration. These ailments typically endure over an extended period, often persisting for years or even throughout a lifetime, without spontaneous resolution. The burgeoning prevalence of chronic diseases constitutes a central element of the opioids market. With a growing population afflicted by chronic ailments and enduring chronic pain, the demand for opioids is on the rise. Opioid utilization within the context of chronic disease management is a dynamic and evolving facet of healthcare, renowned for its effectiveness in pain relief. For example, according to the World Health Organization, an agency specialized in health matters and headquartered in Switzerland, chronic diseases contribute to a substantial global burden, causing 41 million deaths each year, accounting for 74% of all fatalities. Among these chronic diseases, cardiovascular diseases cause 17.9 million deaths, cancer leads to 9.3 million deaths, chronic respiratory diseases result in 4.1 million deaths, and diabetes is responsible for 2.0 million deaths. Consequently, the escalating prevalence of chronic diseases is fostering the growth of the opioids market.

The growth of the opioids market is impeded by regulatory restrictions during the forecast period. Regulatory restrictions are primarily established to curtail the use of opioids for various pivotal reasons, including reducing the supply of opioids, increasing prices, lowering demand, and mitigating the elevated risks associated with diversion and misuse. For example, in 2021, as reported by Science Direct, a bibliographic database encompassing scientific and medical literature, stringent regulations imposed severe limitations on the extended usage of opioids among patients not afflicted with cancer-related pain. Only a minority of individuals prescribed opioids like fentanyl (approximately 20%) and morphine (less than 2%) were authorized to receive prescriptions allowing them to possess a supply of these medications for more than 28 days annually. Consequently, regulatory constraints are acting as a hindrance to the growth of the opioids market.

Prominent companies operating in the opioid market are dedicated to pioneering advanced pharmaceutical solutions to strengthen their market position. The development of novel medications holds the potential to treat diseases, elevate healthcare standards, and contribute to scientific knowledge. For instance, in May 2023, Braeburn Pharmaceuticals Inc., a U.S.-based provider of solutions for opioid addiction treatment, announced the U.S. Food and Drug Administration's approval of Brixadi (buprenorphine) extended-release subcutaneous injection for the management of moderate to severe opioid use disorder (OUD). This marks the first and only weekly and monthly subcutaneous injection for moderate to severe OUD, employing the innovative FluidCrystal Injection Depot Technology. The prescription recommendations allow patients receiving oral buprenorphine-containing medications to transition to equivalent dosages if followed.

In March 2023, Indivior PLC, a U.S.-based specialty pharmaceuticals company, acquired Opiant Pharmaceuticals Inc. for $145 million. This acquisition empowers Indivior to establish a comprehensive and relevant treatment platform to address the ongoing opioid and overdose crisis in the United States. It bolsters Indivior's addiction treatment and scientific portfolio by incorporating Opiant's late-stage assets, particularly OPNT003. Opiant Pharmaceuticals Inc. is a U.S.-based developer of therapies designed to combat opioid drug overdose and addiction.

Major players in the opioids market are Pfizer Inc., Johnson & Johnson Inc., AbbVie Inc., Sanofi S.A, AstraZeneca PLC, Viatris Inc., Teva Pharmaceutical Industries Limited, Sandoz Inc., Sun Pharmaceutical Industries Limited, Aurobindo Pharma Limited, Purdue Pharma L.P., Dr. Reddy's Laboratories Ltd., Hikma Pharmaceuticals PLC, Endo Pharmaceuticals Inc., Amneal Pharmaceuticals Inc., Mallinckrodt Pharmaceuticals PLC, Alkermes PLC, Lannett Co Inc., Par Pharmaceutical Inc., Mayne Pharma Group Ltd., Cephalon LLC, Insys Therapeutics Inc., Janssen Pharmaceuticals Inc., Rhodes Pharmaceuticals L.P, KVK Tech Inc.

North America was the largest region in the opioids market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in opioids report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the opioids market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of opioid products include methadone, codeine, fentanyl, oxycodone, morphine, hydrocodone, and others. Methadone is a medication utilized in opioid addiction treatment programs to help individuals reduce or cease their use of heroin or other opioids. Opioids work by binding to various receptors, including strong agonists and mild to moderate agonists, in the nervous system. They are administered for a range of symptoms and indications, including inflammatory conditions, musculoskeletal pain, neuropathic pain, and cancer pain. Opioid medications are available in hospitals, retail pharmacies, and online pharmacies and are used in various medical applications, such as pain management, cough treatment, and diarrhea treatment.

This report provides opioids market statistics, including the opioids industry's global market size, regional shares, competitors with an opioids market share, detailed opioids market segments, market trends and opportunities and any further data you may need to thrive in the opioid industry. This opioid market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The opioids market consists of sales of oxycodone (OxyContin), hydrocodone (Vicodin), morphine and methadone. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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