Opioid is a type of narcotic pain medication, which is usedto treat moderate to severe pain, such as, anesthesia, cough suppression,diarrhea suppression, surgical pain, injury or trauma, cancer pain and painarising from disease. The global OpioidsMarket is estimated to account for US$ 51,005.8 Mn in terms of value by theend of 2027.
Global Opioids Market: Drivers
High efficacy of synthetic opioids such as methadone andfentanyl is expected to boost growth of the global opioids market. Thesesynthetically manufactured opioids are used to suppress the chances of gettingaddicted to natural opioids and resistant to natural opioids.
Global Opioids Market: Opportunities
Increasing R&D in synthesis of hybrids targeting opioidand neurokinin receptors is expected to offer lucrative growth opportunitiesfor market players. For instance, in December 2019, researchers from MedicalUniversity of Lodz reported the synthesis, structure–activity relationship, andpharmacological characterization of a series of hybrids combining opioidpharmacophores with either substance P (SP) fragments or neurokinin receptor(NK1) antagonist fragments in order to comprehend the role of the neurokininsystem in opioid-induced antinociception.
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Global Opioids Market: Restraints
However, increasing cases ofcounterfeit opioids is expected to hamper growth of the global opioids market.For instance, in June 2019, Drug Enforcement Administration warned regardingsell of counterfeit fentanyl pills and other synthetic opioids.
Key Takeaways:
The Morphine segment in theglobal opioids market was valued at US$ 13,697.6 Mn in 2018 and is expected toreach US$ 17,766.2 Mn by 2027 at a CAGR of 2.9% during the forecast period. Thegrowth of the segment is attributed to increasing demand for treatment of acuteand chronic pain during the forecast period. The Analgesia segment helddominant position in the global opioids market in 2018, accounting for 67.3%share in terms of volume, followed by cough suppression and diarrhoeasuppression, respectively. The growth of the segment is attributed toincreasing research and development of new drug.
Market Trends
Key players in the market arefocused on product approval and launch to expand their product portfolio. Forinstance, in June 2018, AcelRx Pharmaceuticals, Inc. received the EuropeanCommission (EC) approval for DZUVEO for the management of acute moderate tosevere pain in adults in medically monitored settings. The market is witnessingincreasing M&A activities. For instance, Grünenthal acquired the US-basedpharmaceutical company Averitas Pharma in order to expand its presence in theU.S.
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Regulations
The European Society for MedicalOncology (ESMO) and the European Association for Palliative Care (EAPC)regulates the commercial use of opioids in cancer pain management across Europe
European Union conducts Access toOpioids Medication in Europe (ATOME) program, which ensures the availability ofopioids across 12 European countries
The U.K.’s Department of Healthpublished "Drug Misuse and Dependence – Guidelines on ClinicalManagement" (DOH, 1999), which regulates the prescription and sales ofopioid drugs in the country
Global Opioids Market:Competitive Landscape
Major players operating in theglobal opioids market include Pfizer, Inc., Boehringer Ingelheim, JanssenPharmaceuticals, Inc., Actavis Plc., Sanofi SA, Sun Pharmaceutical IndustriesLtd., Mallinckrodt Pharmaceuticals, Endo Pharmaceuticals Inc., and Zyla LifeSciences.
Global Opioids Market: KeyDevelopments
In October 2019,AmerisourceBergen, Cardinal Health, McKesson Corporation, Johnson &Johnson, and Teva Pharmaceuticals agreed to pay US$ 50 billion in cash andaddiction treatments to resolve opioid cases in U.S. states. In March 2019,Purdue Pharma reached a US$ 270 million settlement in a lawsuit, which claimedits opioids contributed to the deaths of thousands of people.
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