Opium Tincture Market size is estimated to reach $65 million by 2026, growing at a CAGR of 4.2% over 2021-2026. Opium tincture is considered as medication that helps to prevent diarrhoea which contains morphine helps to reduce gastrointestinal motility. Opium tincture also helps to increase gastrointestinal muscle tone that helps to reduce pain. Tinctura opii camphorate also known as paregoric, or camphorated tincture of opium that acts as antidiarrheal medication. Pulvis opii is a powdered form of opium that is mostly used in order to help from diarrhea disease. Various other method of opium such as vinum opii which is a kind of herbal wine also support in medication of diarrhea. Increasing prevalence of diabetes disease among people and growing developments in healthcare is the major factor driving the growth of this market. Furthermore, increasing research and development activities in medical industry and rising government initiatives is set to further enhance the overall market demand for Opium Tincture Market for the period 2021-2026.
Report Coverage
The report: “Opium Tincture Market Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the Opium Tincture Market.
By Method: Tinctura Opii, Ptinctura Opii Camphorate, Pulvis Opii, Vinum Opii, and Others.
By End-Use Industry: Hospitals, Clinics, and Others.
By Geography: North America (U.S., Canada, Mexico), Europe (U.K, Germany, Italy, France, Spain, Russia, Rest of Europe), Asia Pacific (China, Australia, Japan, South Korea, India, Rest of Asia Pacific), South America (Brazil, Argentina, Others) and Rest of the World (Middle East, Africa).
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Key Takeaways
- Geographically, in 2020, North America dominated the Opium Tincture Market owing to increasing advancement in generic drug, high healthcare expenditure and increasing favorable reimbursement policies.
- Increasing prevalence of diabetes disease among people and growing developments in healthcare are likely to aid in the market growth of the Opium Tincture.
- Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Opium Tincture Market report.
- Overdose causes respiratory depression or death is set to create hurdles for the Opium Tincture Market.
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Opium Tincture Market Size, By End-Use Industry 2020-2026 (USD Million) |
Opium Tincture Segment Analysis – By Method
The global Opium Tincture Market based on Method can be further segmented into Tinctura Opii, Ptinctura Opii Camphorate, Pulvis Opii, Vinum Opii, and Others. The Tinctura Opii segment is the major segment generating revenue in 2020. This is mainly owing to the wide usage of therapeutic effect that helps to provide effective medication increases the demand of tinctura opii camphorate and market growth. The Pulvis Opii segment is estimated to register the fastest CAGR of 1.6% for the period 2021-2026. This is mainly owing to it is most effective in the early stages of diarrhoea that increasing the growth of this segment.
Opium Tincture Segment Analysis – By End-Use Industry
Opium Tincture Segment Analysis – By Geography
However, Asia Pacific is estimated to outpace all the regions by clocking the highest CAGR of 2.1% during the forecast period 2021-2026 owing to rising population and increasing development in healthcare.
Opium Tincture Market Drivers
Increasing Prevalence of Diabetes Disease
Increasing prevalence of diabetes diseases increases the demand of opium tincture and are increasing the growth of the Opium Tincture Market. According to World Health Organization, about 422 million people are suffering from diabetes in 2020 that increases the chances of diarrhoea which increases the demand of opium tincture treatment and are increasing the growth of the Opium Tincture Market over 2021-2026.
Growing Developments In Healthcare
The market is set to expand due to advancements in opium tincture drug formulations and a rise in the number of drug trials relating to the efficacy of opium tincture in various disease conditions. Moreover, the increase in government initiatives also increasing the growth of Opium Tincture Market over 2021-2026.
Covid-19 Impact:
Opium Tincture Market Challenges
Overdose Causes Respiratory Depression
Opium Tincture Landscape
Development
- In Feb 2021, Johnson and Johnson are working with GlaxosmithKline on order to develop a new varieties of opium that helps to increase gastrointestinal muscle tone and are increases the growth of this market.
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