Opioids Market — Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017–2025

Opioids have high levels of abuse potential and should be closely monitored in patients receiving long term treatment for chronic pain. Opioids are highly effective pain management systems when used appropriately but can be very addictive. There are currently 3 subgroup classifications of opioids used to treat pain. These include non-opioid analgesics; opioids; and mixed agonists or multitasking agents.

The growing prevalence of chronic diseases that cause pain such as cancer and arthritis is augmenting the growth of opioids market. There were 17 million new cases of cancer worldwide in 2018. The four most common cancers occurring worldwide are lung, female breast, bowel, and prostate cancer. This four account for more than four in ten of all cancers diagnosed worldwide. Moreover, the increasing geriatric population coupled with the growing disposable income of the consumer is further projected to augment the growth of opioids market. Increasing the use of opioids for pain relief, anesthesia, diarrhea suppression, cough suppression, and de-addiction is also expected to drive the market growth. On the other hand, side-effects such as confusion, constipation, drowsiness, nausea, and euphoria associated with the consumption of opioids are projected to hinder the market size.

From the geographical point of view, North America is expected to gain significant growth over the forecast period and this is attributed to the strong presence of the healthcare industry in the region. According to the National Health Expenditures, the U.S. health care spending increased 3.9 percent to reach $3.5 trillion, or $10,739 per person in 2017. Private health insurance spending increased 4.2 percent to $1.2 trillion in 2017, which was slower than 6.2 percent growth in 2016.

Key Developments:

1. In August 2020, Trevena launched its first drug approval last week with intravenous opioid Olinvyk.
2. In January 2020, Cumberland Pharmaceuticals Inc. a specialty pharmaceutical company with a focus on hospital acute care announced the launch of Caldolor® (ibuprofen) Injection in a ready-to-use bag that may be administered without dilution for pain relief.
3. In July 2019, Reckitt Benckiser has agreed to pay up to $1.4 billion to resolve the U.S. claims that its former pharmaceuticals business Indivior carried out an illegal scheme to boost sales of opioid addiction treatment.
4. In March 2020, Dr. Reddy’s Laboratories announced first-to-market launch of Naloxone Hydrochloride injection in the US market.
5. In August 2019, UO and OHSU enter into partnership on opioid research with $10M grant