Escalating Occurrence of Chronic Pain Is Stimulating the Global Opioids Market Growth
According
to a new market research report published by Inkwood Research, the Global
Opioids Drugs Market is projected to evolve at a CAGR of 2.48% during the
forecasting years of 2019-2028.
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39 market Data Tables and 48 Figures spread over 286 Pages, along with an
in-depth TOC on Global Opioids Drugs Market Forecast 2019-2028.”
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Opioids are narcotic drugs used as pain relievers to treat moderate to
chronic pain. They comprise of the chemicals that relax the muscles, and can
relieve pain and stress. Although some opioids are used to treat cough and
diarrhea, prescription opioids are primarily used for pain management. The
drugs act on both the central and peripheral nervous systems. The side effects
of opioids drugs are drowsiness, mental fog, nausea, and constipation. Opioid
addiction, overdose, and abuse are serious public health concerns all over the
world. Opioids are divided into two categories, non-synthetic or natural opioids
and synthetic. Natural opioids are also called opiates. Synthetic opioids are
developed from natural opioids, and categorized as fully synthetic or
semi-synthetic.
Rising
prevalence of Chronic Pain Boosts the Market Growth
The IASP has defined chronic pain as a complex health condition, which
lasts for more than six months. Chronic pain may arise in conditions such as
postoperative pain and pain associated with chronic diseases such as cancer,
arthritis, neuropathic pains, and lower back pain. The prevalence of chronic
pain is increasing in a considerable manner across the world, due to the rising
incidence of chronic diseases. Millions of individuals suffer from chronic pain
every year and inflict a tremendous financial burden on the country’s economy. Opioids
drugs are an exceptional therapeutic option to get relief from chronic pain, if
provided in a limited dose. The surging incidence of cancer is across the
world, and the growing prevalence of chronic pain is likely to drive the demand
for opioid drugs.
Buprenorphine
– Product Segment Predicted To Record Highest Growth Rate
Buprenorphine is derived from the opioid alkaloid, and is more powerful
than morphine. The drug is used in treating moderate to severe pain.
Buprenorphine has a high affinity with the opioid receptor, and binds very
tightly to the receptors. Hence, other agonists such as heroin, morphine, and
oxycodone, which are typically used, will not replace buprenorphine if the drug
is attached to the receptor. The buprenorphine treatment has an adverse effect
on precipitated withdrawal, which should be avoided. The significant factor
driving the growth of the buprenorphine market are the opioid-related deaths.
The increasing government initiatives to combat the rising opioid crisis have
led to a rise in demand for opioids use disorders. The growing demand has led the
private companies to invest in the development of novel therapeutics of
buprenorphine for the treatment of opioid use disorder, and the increase in
market penetration is expected to augment market growth.
North America
Captured the Largest Revenue Share in 2019
The region of North America is estimated to capture the largest market
share in terms of revenue during the forecast period. The high rate of approval
and launch of novel abuse-deterrent formulation of the opioid drug is one of
the major factors contributing to market growth in the region.
The global opioids market is fragmented, with several big and small
players investing in the enhancement of novel therapeutics, which is supplementing
the market growth. The market competition is high in the generic space, owing
to the presence of several major players supplying various opioid drugs. Some
of the prominent companies trying to consolidate their position in the market
through mergers and acquisitions are Biodelivery
Sciences International, Inc, Hikma Pharmaceuticals, Daiichi Sankyo, Inc, Janssen
Pharmaceuticals, Inc, Egalet Corp, among others.
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