Opioids Market Size

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.