The global opioids market size was valued at USD 22.66 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 1.2% from 2022 to 2030. Increasing approval and the launch of new opioid medicines to treat patients with chronic pain are the factors expected to drive market growth. For instance, in August 2020, the Food and Drug Administration (FDA) approved Olinvyk (oliceridine) injection developed by Trevena, Inc., for treating adults with acute pain. Olinvyk is an opioid agonist administrated intravenously to patients and costs around USD 194 for a supply of 10 mL. During the initial phase of COVID -19, the market for opioids was negatively impacted due to the low hospitalization rate, COVID-19-mandated changes in policy, decline in surgeries, and dental procedures led to a reduction in opioid prescriptions. According to the National Library of Medicine report (July 2022), the prescription-based opioid purchasing rate declined by 23.8% in the five years before the pandemic. Developed countries like the U.S. and Canada witnessed a decline in opioids prescription after March 2020.
Elder population is at high risk of chronic diseases such as cardiovascular diseases, arthritis, and cancer due to the high comorbid conditions. According to the World Health Organization (WHO), the geriatric population increased from 1.0 million in 2020 to 1.4 million in 2021. Declining fertility and mortality rates are some of the factors contributing to rising in the geriatric population. The impact of chronic pain increases with age and is highest among adults aged 65 years and above. Therefore, the rising geriatric population is anticipated to increase demand for the opioid drugs to manage chronic pain.
However, the side effects associated with drug addiction, and misuse may restrain the market growth. According to the WHO, around 0.5 million people died due to the misuse of drugs in 2021. Furthermore, the Millennium Health’s Signals report (2020) revealed that there was a rise in non-prescribed fentanyl by 32.0%, methamphetamine by 20.0%, and Cocaine by 10.0% from March to May 2020. Thus, the implementation of strict regulation on the use of opioids is expected to restrain the market growth during the forecast period.
Based on product, the global opioids market is segmented into IR/ short-acting opioids and ER/long-acting opioids. ER/long-acting opioids dominated the segment in 2021 and are also expected to be the fastest-growing segment during the forecast period. This dominance can be attributed to the wide availability of extended-release long-acting opioids. Some of the commonly prescribed ER/long-acting opioids include Oxycodone, Hydrocodone, Methadone, Fentanyl, Morphine, and Oxymorphone. Fentanyl is a synthetic opioid approved for treating severe chronic pain that arises in advanced-stage cancer patients. Thus, the rising incidence of chronic diseases is expected to fuel segment growth.
According to the Centers for Disease Control and Prevention (CDC), about six in ten people in the U.S. suffer from chronic diseases such as cancer, stroke, cardiovascular diseases, and diabetes. Patients with these chronic diseases witness severe pain, consequently, increasing demand for extended-release tablets for pain relief, thereby, driving the segment growth.
Based on application, the global opioids market is segmented into anesthesia, pain relief, cough suppression, de-addiction, and diarrhea suppression. The pain relief segment dominated the market in 2021. This can be attributed to the increased demand for opioids for the management of postoperative pain. According to the National Library of Medicine (2020), globally around 310.0 million surgeries are performed annually; out of which 20.0 million and 40.0 to 50.0 million surgeries are performed in Europe and the U.S. respectively. Thus, an increasing number of surgical operations, consequently, augment demand for medicines to manage post-operative pain.
Anesthesia is estimated to be the fastest-growing segment during the forecast period. Intravenous opioids are commonly used to provide analgesia and supplement sedation during general anesthesia. Thus, increasing practices of anesthesia are anticipated to boost demand for intravenous opioids, thereby, driving the market growth.
Based on the route of administration, the global opioids market is segmented into oral, injectables, and others. The injectable segment dominated the market in 2021. This can be attributed to the increasing approval of novel opioid injectables. For instance, in April 2021, the U.S. FDA approved morphine sulfate injection; an opioid analgesic for the management of severe pain arising due to different conditions. This approval is anticipated to drive segment growth.
Oral is anticipated to be the fastest-growing segment during the forecast period due to the approval of opioid tablets. For instance, in October 2021, the U.S. FDA approved celecoxib and tramadol hydrochloride (Seglentis), a combined non-steroidal anti-inflammatory and opioid agonist for the treatment of adults with acute pain. Such approvals and the introduction of the products are expected to fuel segment growth.
Based on distribution channel, the global opioids market is segmented into hospital pharmacies, retail pharmacies, and others. The retail pharmacy segment dominated the market in 2021 and is also expected to witness the fastest growth during the forecast period owing to the easy availability of medicines at retail pharmacies and the high opioid dispensing rate. According to the CDC, around 142.81 million opioid prescriptions were registered in the U.S., with an opioid dispensing rate of 43.3 per 100 people in 2020. Thus, the high prescription is anticipated to segment growth.
North America dominated the global industry in 2021 and accounted for the maximum share of 64.11% of the global revenue. This dominance can be attributed to the increasing approval of opioid-based medicines to meet the growing unmet medical needs in the region. For instance, in May 2020, Hikma Pharmaceuticals launched a generic version of Buprenex, Buprenorphine Hydrochloride Injection; in the U.S. Buprenex is a prescription opioid for the treatment of patients with moderate to severe pain. This injection helps in severe pain management. It costs around USD 89 for a 5mL solution of injection administrated intravenously.
Asia Pacific is expected to be the fastest-growing region during the forecast period. The growth of the region can be attributed to the initiatives undertaken by the government to control opioid misuse in the region. For instance, in February 2022, the New Zealand Medicines and Medical Devices Safety Authority (Med safe) planning to issue warning labels about risk associated with opioid overdose on opioid medicines. This measure may increase the prescription rate for high-quality of opioid intended for pain management, thereby, driving opioid market growth.
Major players are adopting strategies such as mergers & acquisitions for regional expansion and for greater market share. For instance, in August 2022, Adalvo acquired Onsolis a branded opioid product from a reputed U.S.-based specialty pharmacy company. This opioid is indicated for the management of chronic pain in cancer. This acquisition strengthens the company’s opioid product portfolio and offers a high growth opportunity for the company. Some of the prominent players in the global opioids market include:
Purdue Pharma L.P.
Johnson & Johnson Services, Inc.
Hikma Pharmaceuticals PLC
Pfizer, Inc.
AbbVie Inc.
Sanofi
Sun Pharmaceutical Industries Ltd
Grünenthal
Report Attribute |
Details |
Market size value in 2022 |
USD 22.77 billion |
Revenue forecast in 2030 |
USD 25.33 billion |
Growth rate |
CAGR of 1.2% from 2022 to 2030 |
Base year for estimation |
2021 |
Historical data |
2018 - 2020 |
Forecast period |
2022 - 2030 |
Quantitative units |
Revenue in USD million, CAGR from 2022 to 2030 |
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, trends |
Segments covered |
Product, application, route of administration, distribution channel, region |
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
Country scope |
U.S.; Canada; UK; Germany; France; Spain; Italy; China; Japan; India; Australia; South Korea; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE |
Key companies profiled |
Purdue Pharma L.P.; Johnson & Johnson Services, Inc.; Hikma Pharmaceuticals PLC; Pfizer, Inc.; AbbVie Inc.; Sanofi; Sun Pharmaceutical Industries Ltd; Grünenthal |
Customization scope |
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
The report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-markets from 2018 to 2030. For this study, Grand View Research has segmented the global opioids market based on the product, application, route of administration, distribution channel, and region:
Product Outlook (Revenue, USD Million, 2018 - 2030)
IR/Short-Acting Opioids
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
ER/Long-Acting Opioids
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 Million, 2018 - 2030)
Pain Relief
Anesthesia
Cough Suppression
Diarrhea Suppression
De-addiction
Route of Administration Outlook (Revenue, USD Million, 2018 - 2030)
Oral
Injectable
Others
Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)
Hospital Pharmacy
Retail Pharmacy
Others
Regional Outlook (Revenue, USD Million, 2018- 2030)
North America
U.S.
Canada
Europe
Germany
UK
France
Italy
Spain
Asia Pacific
Japan
China
India
Australia
South Korea
Latin America
Brazil
Mexico
Argentina
Middle East and Africa (MEA)
South Africa
Saudi Arabia
UAE
b. The global opioids market size was valued at USD 22.66 billion in 2021 and is expected to reach USD 22.77 billion in 2022.
b. The global opioids market is expected to witness a compound annual growth rate of 1.2% from 2022 to 2030, to reach USD 25.33 billion by 2030.
b. North America held the largest share of 64.11% in 2021 due to higher consumption 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.
b. 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.
b. Key factors driving the opioids market are approval of new drugs such as Olinvyk and rising incidence of target diseases.
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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 COVID-19 as a key market contributor.
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