DUBLIN–(BUSINESS WIRE)–The “Global Opioid Market Outlook 2020: Global Opportunity and Demand Analysis, Market Forecast, 2019-2028” report has been added to ResearchAndMarkets.com’s offering.
The global opioid market is estimated to grow at a CAGR of 4.3% during the forecast period.
An Increase in Orthopedic Diseases & Chronic Pain Incidence
The global opioid market growth is driven by an increase in orthopedic diseases & chronic pain incidence. In addition to this, an increase in disposable income and a growing global geriatric population are expected to drive the growth of the global opioids market. On the other hand, the emergence and legalization of cannabis as a replacement for opioids hinders the growth of the market. However, an increase in the consumption of opioid analgesics for pain management in emerging countries is anticipated to create lucrative opportunities for the opioid market during the forecast period.
Oxycodone Segment is Estimated to Grow at Significant Pace During Forecast Period
The opioid market is segmented into codeine, fentanyl, oxycodone, and others based on product type. The oxycodone segment held the largest market share in the opioids market and is expected to continue its dominance during the forecast period. The growth is attributed to an increase in consumption for pain management. The fentanyl segment is anticipated to grow due to its availability in several formulations, including injection solutions in many concentrations for acute pain management and anesthesia. Based on the application, the market is segmented into pain management, cough treatment, and diarrhea treatment market.
Presence of Significant Players to Benefit Asia Pacific Market
Based on the region, the global opioid market has been segmented into North America, Asia Pacific, Europe, and SAMEA. The Asia Pacific is anticipated to witness significant growth in the coming years as companies such as Purdue Pharma are shifting their focus towards this region intending to strengthen their position in the market.
Players to Focus on Geographical Expansion and Increase Market Share
The global opioid market is anticipated to stay fragmented during the forecast period owing to the possible new entrants. Some of the key market players operating in the market are Purdue Pharma L.P.; Allergan; West-Ward Pharmaceuticals Corporation; Janssen Pharmaceuticals, Inc.; Pfizer, Inc.; Egalet Corporation; and Sun Pharmaceutical Industries Limited. Significant players are focusing on geographical expansion to increase market penetration in untapped regions.
Scope of the Report
By Product Type
- Codeine
- Fentanyl
- Oxycodone
- Others
By Application
- Pain management
- Cough treatment
- Diarrhea treatment
By Region
- North America
- Europe
- Asia Pacific
- SAMEA
Company Profiles
- Purdue Pharma L.P.
- Allergan
- West-Ward Pharmaceuticals Corp
- Janssen Pharmaceuticals, Inc.
- Pfizer, Inc.
- Egalet Corp
- Sun Pharmaceutical Industries Ltd
For more information about this report visit https://www.researchandmarkets.com/r/n3b7rx
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