Opioids

Opioids

Opioids are a class of drugs that are used to relieve pain. They bind to specific receptors in the brain and spinal cord, reducing pain perception. Opioids can be highly effective in managing severe pain but can also be highly addictive and potentially dangerous if not used properly. Opioids are highly effective in managing severe pain, such as that experienced after surgery or due to chronic conditions such as cancer. The need for effective pain relief drove the demand for opioid medications. For instance, as per the Aesthetic Society, In 2021, 365,000 breast implants were performed. 148,000 women who had their implants removed and replaced and those who had their implants removed.

Opioids Market is expected to grow at a strong CAGR of 3% during the forecast period owing to the increasing demand for opioids from elderly care. For instance, according to World Health Organisation, by 2030, one in six people in the world will be over the age of 60. By then, the share of the population aged 60 and over will increase from 1 billion in 2020 to 1.4 billion.

• Based on class, the market is segmented into natural, semi-synthetic, and fully synthetic. As per our analysis, the fully synthetic segment acquired a major share in 2021. Synthetic opioids are man-made substances that mimic the effects of natural opioids, such as morphine and codeine but are created through chemical synthesis. Synthetic opioids do not require the cultivation and harvesting of plants due to which the production of the synthetic opioids is faster and can be produced at a low cost. These are the several reasons responsible for the significant share of synthetic opioids in the market.
• Based on the application, the market is segmented into pain management, cough treatment, diarrhea treatment, anesthesia, and others. The anesthesia segment is expected to grow with a higher CAGR in the opioids market during the forecast period. The increasing incidences of chronic diseases and the rising number of surgical procedures to treat them is the major driving factor for the fast growth of the anesthesia segment. For instance, as per the OECD, a 12.5% increase was witnessed in the number of surgical procedures from 2011 to 2020. the 762974 cases were registered in 2011 and the number reached 858553 in 2020 in Germany.
• Based on the route of administration, the market is segmented into oral, injectable, and others. As per our analysis, the injectables segment acquired a major share in 2021. The fast action of injectable opioids on the site of action inside the body is an important factor for the large share of injectables in the market.
• For a better understanding of the market adoption of the industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and Rest of Asia-Pacific), Rest of World. North America held dominating share in the opioids market in 2021. The high prescription of opioid-based drugs for pain management is among the important factor driving the market growth of the opioids market in the region. For instance, as per the Centers for Drug Control, 142,816,781 total opioid prescriptions were dispensed in the United States.
• Some of the major players operating in the market include Purdue Pharma L.P.; Johnson & Johnson Private Limited; Hikma Pharmaceuticals PLC; Pfizer Inc; AbbVie Inc; Sanofi; Sun Pharmaceutical Industries Ltd.; Grünenthal; Merck & Co., Inc.; and Endo International plc.