Home Press Releases Opioid Market Size Worth $ 6.02 Billion By 2030 | CAGR: 3.3%

Opioid Market Size Worth $ 6.02 Billion By 2030 | CAGR: 3.3%

The global opioid market size is expected to reach USD 6.02 billion by 2030, according to a new study by Polaris Market Research. The report “Opioid Market Share, Size, Trends, Industry Analysis Report, By Class (Natural, Semi-synthetic, and Fully synthetic); By Release Type; By Product; By Application; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

An increase in the use of these medications to treat pain and an increase in the number of elderly people, who are particularly vulnerable to orthopedic pain, are the main reasons driving the market’s expansion. Since chronic pain is widespread in the aged population and is thought to be a separate risk factor for mortality, the aging population is a significant driving force behind the industry’s explosive expansion. For instance, the World Health Organization (WHO) projects that by 2050, there will be about 2.0 billion people in the world who are 60 years of age or older, with most of the growth occurring in developing nations. In 2015, there were approximately 900 million people in this age group. France has almost 150 years to adapt to a rise in the percentage of people over 60 from 10% to 20% of the population.

 

The elderly increasingly suffer from chronic diseases like diabetes due to the growing aging population and changing lifestyles driving demand for cutting-edge healthcare technologies. This has increased industry expansion. Asthma, diabetes, heart disease, cancer, and other conditions that persist for a long time and are frequently incurable are examples of chronic diseases. The three most prevalent medical diagnoses worldwide are asthma, diabetes, and heart disease.

 

The primary reasons behind the burgeoning chronic conditions are unhealthy lifestyles, alcohol consumption, smoking habits, and physical inactivity. Poverty is also one of the reasons for growth in long-term illness, particularly in underdeveloped regions of the world, such as African nations, Asian countries, and the countries of South America. These long-term illness conditions are the leading cause of disability and death worldwide. The significant population over 65 is reported to have long-term diseases because of irregular lifestyles. Thus, the demand for opioids among the aging population with chronic disease is growing, driving industry growth.

 

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Additionally, there has been a marked increase in the number of persons worldwide who experience chronic pain. The market is expected to rise as a result, according to predictions. For instance, the Centers for Disease Control and Prevention (CDC) 2019 found that 7.4% of Americans had high-impact chronic pain.

 

Opioid Market Report Highlights

  • The long-acting opioids segment is anticipated to grow at the highest CAGR over the forecast period. These drugs are frequently used to treat moderate to severe chronic pain. These medications offer therapeutic advantages such as consistent, long-lasting analgesia and reduced dose frequency.
  • Semi-synthetic opioids segment accounted for to growth rapidly of the global revenue share due to the increased availability and demand for these painkillers. Labs use natural opiates to create semi-synthetic types. 
  • Asia-Pacific is expected to grow prominently over the projected period. This can be attributed to cancer cases rising across several developing economies. Nearly half of cancer’s worldwide burden is borne by Asia. Additionally, a growing elderly population and an increase in cases of chronic pain would increase regional market demand.
  • The global market is highly competitive owing to the existence of prominent players with a worldwide presence, including Aurobindo Pharma Limited, Assertio Therapeutics, Inc., AbbVie Inc., Nesher Pharmaceuticals (USA) LLC, Purdue Pharma L.P., Pfizer Inc., Rhodes Pharmaceuticals L.P., Sun Pharmaceutical Industries Limited, Trevena Inc., and Teva Pharmaceutical Industries Ltd.

 

Polaris Market Research has segmented the Opioid market report based on class, release type, product, application, and region:

 

Opioid, Class Outlook (Revenue – USD Billion, 2018 – 2030)

  • Natural
  • Semi-synthetic
  • Fully Synthetic

Opioid, Release Type Outlook (Revenue – USD Billion, 2018 – 2030)

  • Immediate-release/Short-acting
  • Extended-release/Long-acting

Opioid, Product Outlook (Revenue – USD Billion, 2018 – 2030)

  • Codeine
  • Fentanyl
  • Oxycodone
  • Methadone
  • Morphine
  • Hydrocodone
  • Tramadol
  • Propoxyphene
  • Others

Opioid, Application Outlook (Revenue – USD Billion, 2018 – 2030)

  • Pain management
    • Neuropathic
    • Migraine
    • Orthopedic and Musculoskeletal
      • Arthritis
      • Fibromyalgia
      • Others
    • Cancer Pain
      • Brain
      • Breast
      • Colorectal
      • Blood
      • Skin
      • Prostate
      • Others
    • Others
  • Cough treatment
  • Analgesia
  • Diarrhea treatment
  • De-addiction
  • Others

Opioid, Regional Outlook (Revenue – USD Billion, 2018 – 2030)

  • North America
  • S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

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  • Industry outlook
  • Competitive landscape
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