Opioids Market size was over USD 22.88 billion in 2023 and is anticipated to reach USD 27.77 billion by the end of 2036, growing at around 1.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of opioids is assessed at USD 23.15 billion.
The growth of the market can be attributed to the increasing number of cancer patients worldwide. Opioids are a group of analgesic agents and they are extensively used as pain killers. Furthermore, the market is projected to exhibit remarkable growth during the forecast period on the back of its soaring demand for treatment of cough pain and diarrhea. The World Health Organization states that there are nearly 1.7 billion cases of childhood diarrhoea each year. On the back of this, the global opioid market is expected to grow significantly over the forecast period. Additionally, the increasing number of patients with cancer leads to a surge in demand for opioids. According to the data released by World Cancer Research Fund International, there were 18.1 million cancer cases, and 10 million cancer deaths in the year 2020. The opioid works efficiently in treating excruciating pain in cancer patients. On account of this, the global opioids market is expected to grow over the forecast period.
Growth Drivers
Challenges
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2023 |
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Forecast Year |
2024–2036 |
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CAGR |
1.5% |
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Base Year Market Size (2023) |
22.88 billion |
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Forecast Year Market Size (2036) |
27.77 billion |
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Regional Scope |
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The market is segmented by application into pain management, cough management, and diarrhea treatment, out of which, the pain management sub-segment is anticipated to hold a notable share in the global opioids market on account of the increasing number of cancer patients. Opioids are very efficient in assuaging acute pain in cancer patients. On account of this, the market is projected to grow over the forecast period.
Our in-depth analysis of the global market includes the following segments:
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By Product Type |
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By Application |
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By Receptor Binding |
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Regionally, the global opioids market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the North America industry is set to account for largest revenue share by 2036, impelled by a surging number of cancer patients. According to the data released by the Centers for Disease Control and Prevention (CDC) in 2018, the United States reported 436 new cancer cases for every 100,000 people. Moreover, opioids are also utilized by patients with chronic pain. The other data released by the CDC states that 20.4% of adults had chronic pain in the year 2019. Furthermore, the North America region has a well-established healthcare infrastructure. On account of this, the North America region is projected to witness significant growth over the forecast period.
Moreover, the global opioids market is estimated to witness noteworthy growth during the forecast period in the Europe region on the back of the presence of a large geriatric population in the region. According to the data released by Eurostat, the population of people aged 65 or more in Europe will reach up to 129.8 million by 2050. Furthermore, the region has flexible government guidelines and has state-of-the-art healthcare infrastructure. On account of this, the market is expected to grow over the forecast period.
May 10, 2022: Pfizer announced its decision of acquiring Biohaven Pharmaceuticals, the maker of NURTEC ODT, an innovative dual-acting migraine therapy approved for both acute treatment and episodic prevention of migraine in adults.
January 13, 2022: AstraZeneca joins hand with Scorpian Therapeutics to develop and commercialize novel cancer treatments.
Author Credits: Radhika Pawar
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