Oxycodone Market Share

APAC Market Statistics

The oxycodone market in the Asia Pacific region, amongst the market in all the other regions, is projected to hold the largest market share of about 35% by the end of 2037. The regional growth can majorly be attributed to the growing aged population in the region. Elderly people are more susceptible to cancer, which requires oxycodone to treat. The Asia Pacific population is aging faster than anywhere else is in the world. Sixty per cent of the world's total elderly population, that is, 630 million aged people reside in the Asia Pacific region. The region's elderly population is expected to reach 1.3 billion by the year 2050. Moreover, the government's role in raising awareness of the use of oxycodone is expected to spur market growth in the region. Moreover, increased funding for medical infrastructure is expected to influence the growth of the market in the region.

North American Market Forecast

The oxycodone market in the North America region, amongst the market in all the other regions, is projected to hold the second largest share of about 24% during the forecast period. The growth of the market in this region can primarily be attributed to the fact that cancer patients are increasing in this region. An estimated 1,806,590 new cancer cases were diagnosed in the United States in the year 2020, according to the National Cancer Institute. Moreover, the presence of large research institutes in the region coupled with high healthcare costs are estimated to boost the market growth. Moreover, the insurance companies in North America offer efficient reimbursement policies to the patients going through cancer treatment, which encourages the patients to opt for advanced treatment methods. Hence, this is also estimated to add to the regional market growth significantly. Rising economic conditions and affordability of advanced treatments for patients are further expected to boost the market growth in this region during the forecast period. According to the U.S. Bureau of Economic Analysis, U.S. personal income increased 0.3% to USD 71.6 billion in August 2022, while personal spending increased 0.4% to USD 6.75 billion.

Europe Market Forecast

Further, the oxycodone market in the Europe, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2037. The growth of the market can be attributed majorly to the Increasing prevalence of chronic pain in the region. Chronic pain affects millions of people in Europe, and oxycodone is often prescribed as a treatment for this condition. As the population ages and chronic pain becomes more prevalent, the demand for oxycodone may increase. Moreover, Growing awareness of pain management is also estimated to boost the market growth. Healthcare professionals are becoming more aware of the importance of effective pain management. This may lead to increased use of oxycodone, which is a potent pain reliever. Opioids, including oxycodone, are commonly used in palliative care to manage pain and other symptoms associated with serious illnesses. As the population ages, demand for palliative care may increase, leading to increased use of oxycodone. Hence, all these factors are expected to add to the growth of the regional market.