Oxycodone

Oxycodone

Oxycodone is a potent opioid pain medication used to relieve moderate to severe pain. It works in the brain to change how your body feels and responds to pain. Oxycodone is often prescribed in extended-release forms for around-the-clock pain relief. This is due to its nature of being commonly abused and having addictive properties which is a controlled substance. Further, the existing opioid crisis has raised concerns about the opioid class of drugs, including Oxycodone, which may alter regulatory control and usage patterns. Moreover, the growing trend in the use of non-opioid and different pain management practices may have an impact on oxycodone demand in the future.

The Oxycodone Market is expected to grow with a significant CAGR of 5.13% during the forecast period (2024-2032). This can be attributed to the rising geriatric population coupled with the incidence of such chronic pain conditions as arthritis and back pain, and, therefore, the need for Opioid pain relievers like oxycodone also rises. The National Institutes of Health (NIH) (.gov) stated in the report that in 2023, new chronic pain cases were high, at 52.4 cases per 1,000 persons per year. This is compared to other common chronic conditions, such as diabetes (7.1 cases/1,000 per year), depression (15.9 cases/ 1,000 per year), and hypertension (45.3 cases/1,000 per year). Additionally, the growing demand for oxycodone has led to increased revenue for pharmaceutical companies producing and selling this medication.

• Based on the type, the market has been divided into long-acting oxycodone and short-acting oxycodone. The long-acting oxycodone held a dominant share of the market in 2023. This is mainly helpful for those patients suffering from chronic pain like arthritis, cancer, and severe back pain that need long-term pain relief for them to have a good life. The ease and efficiency of using oxycodone have influenced prescribers to choose it over other forms of opioids, thus raising prescription rates.
• Based on the application, the market is segmented into pain management and de-addiction. The pain management held a dominant share of the market in 2023. The rise in the prevalence of chronic illnesses like arthritis, fibromyalgia, and neuropathic pain has also contributed to the demand for pain relief products, which in turn has created the demand for oxycodone. For instance, from 2019 to 2021 in the United States (NHIS), around 5.4% of adults 18 to 44 years old reported arthritis, and Among adults aged 45 to 64 years, one-in-four (26.0%) reported doctor-diagnosed arthritis. Furthermore, improvements in the utilization of opioids for pain management and increasing awareness of the need to manage pain to enhance patient outcomes have made opioids such as oxycodone more accessible and appropriately used than in the past.
• Based on the distribution channel, the market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. Hospitals are expected to grow with a significant CAGR in the forecast period (2024-2032). The higher incidence of surgeries and hospitalizations resulting from chronic and acute illnesses has also created a higher need for adequate pain relief in hospital environments, hence the need for oxycodone. For instance, according to the World Health Organisation, in 2023, over 300 million surgical procedures were performed each year worldwide. In addition, the hospital pharmacy provides an essential interface for educating patients about the proper use of opioids concerning the prescribed dosing and avoiding the risk of abuse.
• For a better understanding of the market adoption of Oxycodone, the market is analyzed based on its worldwide presence in countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, France, U.K., Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. Asia-Pacific is expected to grow with a significant CAGR in the forecast period (2024-2032) because the region is currently witnessing economic growth; hence, there has been enhanced development of health facilities and enhanced availability of medical treatments, including therapies to manage pain. The Asia Pacific region is also growing in the production of pharmaceutical products, and several local and multinational companies are engaged in the production and marketing of opioid drugs. Thus, with the development of chronic pain conditions such as cancer and diabetes and an aging population, China, India, and Japan are the most affected nations.
• Some of the major players operating in the market include Purdue Pharma L.P.; Johnson & Johnson Services, Inc.; Teva Pharmaceutical Industries Ltd; Endo, Inc.; Mallinckrodt company; Lannett; Pfizer Inc.; Amneal Pharmaceuticals LLC; Indivior PLC; Teikoku Seiyaku Co., Ltd.