The global opioids market size was valued at USD 25.4 billion in 2018 and is projected to expand at a CAGR of 1.8% during the forecast period. Increasing prevalence of diseases that cause chronic pain, such as cancer, postsurgical pain, lower back pain, fibromyalgia, and arthritis, is driving the market.
The market is being strictly regulated by the U.S. FDA due to a substantial number of drug-abuse deaths registered in the country. The FDA has released specific guidelines to manufacture, market, store, and sell opioid products. For instance, removal of OTC cough syrup containing opioids is a result of guidelines set by the regulatory body. In addition, prescription by healthcare professionals is being highly regulated.
Long-term use of opioids can lead to drug addiction and dependency and increase in drug abuse is resulting in high death rates. For instance, according to the American Society of Addiction Medicine, in 2014, around 18,893 people died from drug overdose and approximately 10,574 deaths were reported because of heroin overdose.
In 2014, it was reported that more than six out of 10 deaths are due to opioids overdose, which included heroin and opioid pain relievers. The highest deaths were observed due to synthetic variants, which included 5,500 deaths in 2014. Considering the high death rate associated with opioid dependency and abuse, governments in U.S. and other countries advocate against the use of these substances.
In January 2019, Medicare established new opioid prescribing guidelines that will affect Medicare Part D beneficiaries. Part D plans are projected to limit early opioid dispensing to a 7-day supply or less. This guideline will impact Medicare patients who have not filled an opioid prescription lately. If a physician thinks that an opioid inexperienced patient will require more than a 7-day supply, in the beginning, the provider can apply for a coverage determination instead of the patient attesting to the medical need for supply more than 7 days. Thus, the new guidelines are expected to limit the abuse rate in U.S.
Once extensively stigmatized, medical marijuana is now projected as the possible antidote to the epidemic that has led to two-thirds of deaths annually in U.S. Recent studies have observed a substantial decrease in both overdose deaths and drug abuse from prescription painkillers in states where marijuana has been legalized. Pharma and biotech companies believe that medical marijuana products will become the prevailing opioid substitute for chronic pain management and provide a wide variety of other beneficial therapies.
ER was the largest segment in 2018 owing to its high usage in chronic pain management. However, the abuse and misuse of these drugs have resulted in a serious public health crisis. As a result of this, in September 2018, the U.S. FDA released its final Opioid Analgesic Risk Evaluation and Mitigation Strategy (REMS) for IR and ER opioids. This plan will help reduce the overall exposure to these drugs and consequently will reduce the addiction rate.
Recently, the U.S. FDA discontinued a wide variety of opioids from the market to limit its abuse in the country. For instance, the U.S. FDA discontinued Vicodin (Hydrocodone) and Percocet (Oxycodone), the most widely prescribed opioids, from the market. In recent years, the decline in opioid prescriptions has been observed. In 2017, the opioid prescription rate reduced by 10.2% from 2016. Hence, these factors are expected to limit the growth of the opioids market over the forecast period.
Based on application, the global market is segmented into pain relief, anesthesia, cough suppression, diarrhea suppression, and de-addiction. In 2018, the pain relief segment dominated the market mainly due to high usage in pain management therapies.
However, product usage for pain is expected to decline over the forecast period owing to implementation of the new regulatory framework. A new guideline has been designed by the CDC for Prescribing Opioids for Chronic Pain. According to the new guideline, it has been recommended that non-opioid therapy should be preferred for chronic pain other than palliative, end-of-life care, and active cancer.
North America held the largest market share in 2018 as consumption is the highest in this region. However, the region is likely to witness a decline in its market share over the forecast period owing to rising government initiatives to combat the crisis in the U.S.
In June 2018, the U.S. government launched a public awareness advertising campaign to combat addiction. In addition, some of the opioid products such as Purdue Pharma’ OxyContin have been discontinued in the U.S. and Canada. Asia Pacific is expected to witness the fastest growth in the coming years as companies such as Purdue Pharma are shifting their focus towards this region with an aim to strengthen their position in the market.
Some of the key market players are Purdue Pharma L.P.; Allergan; West-Ward Pharmaceuticals Corporation; Janssen Pharmaceuticals, Inc.; Pfizer, Inc.; Egalet Corporation; and Sun Pharmaceutical Industries Limited. Key players are focusing on expanding their business in different regions to increase their market share.
For Instance, Purdue Pharma is entering rapidly into Asia, Latin America, and Middle East and Africa. The company is organizing awareness programs where doctors are urged to prescribe painkillers to help patients overcome opiophobia.
Report Attribute |
Details |
Base year for estimation |
2018 |
Actual estimates/Historical data |
2014 - 2017 |
Forecast period |
2019 - 2026 |
Market representation |
Revenue in USD billion and CAGR from 2019 to 2026 |
Regional scope |
North America, Europe, Asia Pacific, Latin America, MEA |
Country Scope |
U.S., Canada, Germany, U.K., France, Spain, Italy, China, Japan, India, South Korea, |
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
15% free customization scope (equivalent to 5 analyst working days) |
If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization |
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2026. For the purpose of this study, Grand View Research has segmented the global opioids market report on the basis of product, application, and region:
Product Outlook (Revenue, USD Billion, 2014 - 2026)
Immediate-release/Short-acting
Immediate-release/Short-acting Opioid, by Product
Codeine
Oxycodone
Hydrocodone
Fentanyl
Morphine
Hydroxymorphone
Oxymorphone
Propoxyphene
Other IR
Immediate-release/Short-acting Opioid, by Application
Pain Relief
Anesthesia
Cough Suppression
Diarrhea Suppression
De-addiction
Extended-release/Long-acting
Extended-release/Long-acting Opioid, by Product
Oxycodone
Hydrocodone
Methadone
Fentanyl
Morphine
Oxymorphone
Tapentadol
Buprenorphine
Hydromorphone
Other ER
Extended-Release/Long-Acting Opioid, by Application
Pain Relief
Anesthesia
Cough Suppression
Diarrhea Suppression
De-addiction
Application Outlook (Revenue, USD Billion, 2014 - 2026)
Pain Relief
Cancer Pain
Postoperative Pain Management
Low-back Pain
Orthopedic
Neuropathic Pain
Fibromyalgia
Anesthesia
Cough Suppression
Diarrhea Suppression
De-addiction
North America
The U.S.
Canada
Europe
The U.K.
Germany
France
Spain
Italy
Asia Pacific
Japan
China
India
South Korea
Singapore
Australia
Latin America
Brazil
Mexico
Argentina
Middle East & Africa
South Africa
UAE
Saudi Arabia
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Multiple therapeutic regimens are being followed across the globe in attempts to come up with a reliable treatment for Covid-19. One line of treatment includes the use of hydroxychloroquine, while a second treatment line focuses to use antiviral drugs used in the disease management of HIV. Both these approaches have surged demand from advanced antivirals and antimalarial drugs. This impacts the drug manufacturers as an off label indication for these drug classes has to be worked upon. At the moment, the WHO has not prescribed any of these approaches, neither they have commented if one is better than the other. The report will account for Covid19 as a key market contributor.