Oxycodone Hydrochloride Market Assessment, By Purity [Less than 98%, 98% to 99%, More than 99%], By Type [Immediate Release, Controlled Release], By Form [Solid, Liquid], By Application [Medicine Manufacturing, Research and Academics, Others], By Region,

Oxycodone Hydrochloride Market Assessment, By Purity [Less than 98%, 98% to 99%, More than 99%], By Type [Immediate Release, Controlled Release], By Form [Solid, Liquid], By Application [Medicine Manufacturing, Research and Academics, Others], By Region, Opportunities and Forecast, 2017-2031F

Global oxycodone hydrochloride market is projected to witness a CAGR of 5.1% during the forecast period 2024-2031, growing from USD 421.5 million in 2023 to USD 627.51 million in 2031F. The key factors, such as the surging prevalence of cancer and rising requirements by the healthcare sectors, including specialty clinics, hospitals, and ambulatory surgery centers, are accelerating the adoption of oxycodone hydrochloride, which, in turn, is boosting market growth. The hydrochloride salt of oxycodone, a semisynthetic opioid, and methyl ether of oxymorphone have antitussive and analgesic properties. The increasing preference for effective pain management solutions is one of the major significant drivers for market growth.

The market expansion is supported by the increasing old-age population, resulting in higher cases of severe pain. For instance, according to the World Health Organization (WHO) estimates, one in six individuals living across the world will be sixty years or older by the year 2030. By 2050, the population aged sixty and older will be approximately 2.1 billion. This increase will bolster the requirement for oxycodone hydrochloride as it is used for relieving acute and severe pain and the older population is more susceptible to suffering from various pain-related disorders. Thus, propelling the demand for the product and augmenting the global oxycodone hydrochloride market size.

Oxycodone hydrochloride, a moderately potent opioid analgesic aid in relieving severe to moderate pain and is obtained by the reaction of one molar equivalent of hydrochloric acid and oxycodone. The oxycodone binds with the mu-receptors present in the central nervous system and mimics the effects of endogenous opiates. The chemical is used as an active ingredient in various drugs including oxycodone hydrochloride capsules, Percodan, and Roxybond among others. Due to this, the demand for the chemical is rising from the medicine manufacturing sector, thus supporting the expansion of the market.

Increasing Prevalence of Cancer Supports Global Oxycodone Hydrochloride Market Growth

The addition of oxycodone hydrochloride to conventional therapy aids in effectively controlling the pain from radiation-induced oral mucositis as compared to conventional therapy alone. The combination also helps in significantly improving eating habits along with enhancing the quality of life of patients. Oxycodone hydrochloride is known for having a strong affinity for opioid receptors in the spinal cord and brain, allowing it to deliver effective analgesic effects on bone metastases. Many clinicians have combined oxycodone hydrochloride and radiotherapy for treating moderate to severe pain caused due to bone metastases of malignant tumors. This combination has aided them in achieving a combination of long-term and short-term analgesic effects.

For instance, according to the estimates of CONQUER CANCER (The ASCO Foundation), neck and head cancer accounts for approximately 4% of all cancer cases in the United States. It was estimated that in 2023, 66,930 individuals living in the United States will be diagnosed with neck and head cancers. The rising cases of neck and head cancer in various regions across the globe are therefore propelling the requirement for oxycodone hydrochloride. The administration of prolonged-release tablets is derived from this chemical during radiotherapy, effectively reducing the pain that is caused due to radiation-induced oral mucositis for patients suffering from neck and head cancer. Thus, boosting the requirement for oxycodone hydrochloride and supporting the growth of the market.

Rising Number of Surgeries Boost Global Oxycodone Hydrochloride Market Demand

The mechanism of action of oxycodone is similar to that of the other opioids which includes binding to a receptor, inhibiting hyperpolarization of neurons and adenylyl-cyclase, and reducing impulsiveness. Oxycodone hydrochloride is also used as a preemptive analgesia in various gynecological procedures such as gynecological laparoscopic surgery. Oxycodone hydrochloride is an opioid receptor agonist that is mixed-type and has agonistic effects on both μ and κ receptors. It primarily works for the smooth muscles and central nervous system, allowing the effective treatment of visceral pain as compared to other potent opioids. As a result, the adoption of oxycodone hydrochloride is increasing in surgeries.

For instance, according to the estimates of the Lancet Commission on global surgery, approximately 5,000 surgeries per 100,000 population, per year are required. The estimations show that in India, 3,646 surgeries are required per year, per 100,000 population. Of these 13% are ophthalmological surgeries, 20% are gynecological and obstetric surgeries, and 26% are general surgical procedures. This increase is augmenting the requirement for oxycodone hydrochloride as it is used for pain management in moderate and minor surgeries and postoperative pain. Due to such applications and advantages offered by the chemical, the demand for oxycodone hydrochloride is increasing, supporting the expansion of the market.

North America Holds a Significant Share of the Market

The increasing prevalence of head and neck cancer in the region and the surging requirement for different surgical procedures are major factors supporting the growth of the North America oxycodone hydrochloride market. The augmenting consumption of prescription drugs in the region for effectively managing pain caused by various conditions such as cancer and neuralgia is another major factor propelling the requirement for oxycodone hydrochloride in North America. Additionally, the Food and Drug Administration (FDA) has also approved various prescription drugs that use oxycodone hydrochloride for pain management. The growing requirement for surgical procedures is also boosting the requirement for oxycodone hydrochloride as it is deployed for treating postoperative pain. For instance, according to the estimates of Johns Hopkins Medicine, the most common surgical operations conducted in the United States include appendectomy, breast biopsy, coronary artery bypass, and cholecystectomy. Thus, increasing the demand for oxycodone hydrochloride to ensure the production of drugs that aid patients in effective management of postoperative pain.

Controlled Release Accounts for Significant Global Oxycodone Hydrochloride Market Share

The segment's growth can be attributed to the increasing utilization of controlled-release tablets for relieving severe to moderate persistent pain in situations where other forms of pain treatment solutions have been rendered ineffective. These products are also deployed in situations where continuous analgesics are required for an extended duration of time. The oxycodone hydrochloride-controlled release tablets are opioid analgesics that are orally administered and available in 20 mg and 10 mg strengths. The tablets contain various inactive ingredients including titanium dioxide, ammonio methacrylate copolymer, polyethylene glycol 400, sorbic acid, triacetin, sodium hydroxide, povidone, magnesium stearate, lactose, Hypromellose, talc, and stearyl alcohol. For instance, tablets with 20 mg strength also contain red iron oxide and polysorbate 80 and the tablet with 10 mg strength also contains hydroxypropyl cellulose. These controlled-release tablets are designed to ensure the controlled delivery of oxycodone over twelve hours. The release of oxycodone from these tablets is independent of pH and the oxycodone released from the tablets is absorbed at a bioavailability of 60%-87%. Thus, utilization of controlled-release tablets is boosting the segment's expansion and supporting the global oxycodone hydrochloride market growth.

Increased Product Requirement for Medicine Manufacturing Supports Market Expansion

The rising incidences of cancer and the increasing requirement for surgical procedures for the treatment and management of various health conditions is boosting the demand for oxycodone hydrochloride. This augmentation can be attributed to the effective pain management offered by the chemical in both minor surgical procedures and postoperative pain. The growing emphasis on patient care in various healthcare facilities is another major factor bolstering the requirement for oxycodone hydrochloride-based medication for effective management of severe and acute pain, propelling the expansion of the segment and boosting the global oxycodone hydrochloride market growth. The surge in the aging populace is another major factor supporting the growth of the segment as the older population is more susceptible to various pain-causing disorders and requires various surgical procedures to ensure proper management and treatment of various health conditions. For instance, according to a research article published by researchers from the Department of Urology and Department of Population Health Sciences, Geisinger, Danville, PA, approximately 4 million surgical procedures are performed every year in individuals aged 65 or older. Thus, bolstering the requirement for oxycodone hydrochloride for manufacturing medicine for the management of pain post-surgical procedures.

Future Market Scenario (2024–2031F)

According to the global oxycodone hydrochloride market analysis, various interventional studies are underway to evaluate the safety, efficacy, tolerability, and pharmacokinetic effects of oxycodone. For instance, Zuyderland Medisch Centrum is currently conducting a study to identify the impact of intercostal nerve cryoablation on the length of the postoperative hospital stay in comparison to the standard pain management of pectus excavatum patients. The randomized, single-center, unblinded, and prospective clinical trial is estimated to reach completion by September 2025. The increase in the number of such trials is propelling the requirement for oxycodone hydrochloride and aiding in evaluating the safety and efficacy of the chemical, thus increasing product applications and boosting the growth of the market.

Key Players Landscape and Outlook

The expansion of the market is supported by the rising investments by various companies in research and development activities. Furthermore, they are collaborating with other companies and organizations to support their R&D activities, which is expected to provide lucrative growth opportunities for the market. Various studies are conducted globally to evaluate the possible health benefits resulting from oxycodone hydrochloride.

For instance, OpalGenix, Inc., a developer of genetic tests for pain management and precision opioids is sponsoring an observational study to evaluate the effects of interactions and multiple genes on methadone and oxycodone’s pharmacokinetics. The study is expected to conclude in September 2024. Such studies aid in determining the working and efficacy of the pain management solutions that deploy oxycodone hydrochloride, thus boosting the product demand and augmenting the market expansion.