Opioids Market Analysis, Trends, Demand, Growth and Forecast 2023-2028

 IMARC Group, a leading market research company, has recently released a report titled “Opioids Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global opioids market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How big is the opioids market?

The global opioids market size reached US$ 21.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 25.6 Billion by 2028, exhibiting a growth rate (CAGR) of 3.1% during 2023-2028.

What are opioids?

Opioids are a specialized class of drugs used primarily for pain relief in various medical settings, including hospitals, clinics, and home care. They work by binding to specific receptors in the brain and other parts of the body to reduce the perception of pain.

Characteristically, opioids are known for their potent analgesic effects, but they also come with significant risks such as addiction, tolerance, and overdose, necessitating careful management and monitoring. They come in various forms, such as tablets, injections, patches, and liquids, to cater to different patient needs and pain conditions. Features often include specific dosing regimens, time-release formulations, and combination therapies for optimal pain control. The design intricacies of opioid medications directly impact their efficacy and safety, making the selection and administration an essential part of patient care.

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What are the growth prospects and trends in the opioids industry?

The increasing awareness of chronic pain conditions and the growing need for effective pain management solutions are key drivers propelling the growth of the opioid market globally. Coinciding with this trend, opioid medications are increasingly recognized for their essential role in managing acute and chronic pain, significantly influencing market growth.

Additionally, the increasing demand from various sectors, including healthcare providers, palliative care centers, and post-surgical care for powerful and controlled pain relief, is accelerating market expansion. Furthermore, the need for compliance with regulations pertaining to drug safety, prescription guidelines, and addiction prevention is fueling the market's growth. The global healthcare landscape, along with governmental policies supporting responsible pain management and opioid stewardship, is fostering a positive market outlook. Other factors, such as investments in research for developing innovative opioid formulations with reduced side effects, and the emergence of companies specializing in pain management therapies, are boosting market growth worldwide.

Who are the key players operating in the opioids market?

The competitive landscape of the industry has also been examined along with the profiles of the key players.

• Boehringer Ingelheim International GmbH
• Hikma Pharmaceuticals PLC
• Mallinckrodt plc
• Pfizer Inc.
• Purdue Pharma L.P.
• Sanofi S.A.
• Sun Pharmaceutical Industries Ltd.
• Teva Pharmaceutical Industries Ltd.

What is Included in Market Segmentation?

The report has categorized the market based on product type, application, distribution channel and region.

Breakup by Product Type:

• Codeine
• Fentanyl
• Methadone
• Oxycodone
• Morphine
• Hydrocodone

Breakup by Application:

• Pain Management
• Cough Treatment
• Diarrhea Treatment
• Others

Breakup by Distribution Channel:

• Hospital Pharmacies
• Retail Pharmacies
• Drug Stores
• Online Stores
• Others

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)

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Key Highlights of The Report:                                                    

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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