Opioids are naturally occurring opiates and synthetic and semi-synthetic drugs that act on opioid receptors in the brain and can cause dependence due to their euphoric effects. Opioids are majorly categorized into natural and synthetic opioids that are used to treat moderate to severe pain caused due to various physical conditions.
Increasing usage of opioids in non-cancer conditions, unregulated prescription by physicians, lack of regulatory policies to curb the abusive consumption, increasing the prevalence of terminal conditions and favorable reimbursement for palliative care in developed countries are some of the factors promoting the growth of the global opioids market. However, chronic side effects, high prices of opioids in developing countries, over the regulated opioid prescription environment in Asia Pacific and limited availability in Asia Pacific, Africa and some parts of Europe are expected to hinder the growth of the opioids market, globally.
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This report covers the global opioids market performance in terms of revenue contribution. The report includes key trends, drivers, restraints, and opportunities influencing the growth of the global opioids market. Impact analysis of key growth drivers and restraints, based on the weighted average model are included in this report to better equip clients with crystal clear decision-making insights.
The global opioids market is segmented as follows:
- Opioid market, by Product Type
- Opioid market, by Application
- Opioid market, by Region
The global opioids market has been estimated to be valued at US$ 34,888.0 Mn in 2015 and is anticipate to garner US$ 42,158.8 Mn revenue by 2021, registering a CAGR of 3.2% during the forecast period.
By product, the global opioid market is segmented into morphine, codeine, fentanyl, meperidine and methadone. The morphine and codeine segments collectively accounted for around 62% of the overall market in 2014.
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By application, the global opioids market is segmented into analgesia, cough suppression and diarrhea suppression. The analgesia segment was valued at US$ 22,776.3 Mn in 2014 and is anticipated to reach US$ 28,436.8 Mn by 2021 at a CAGR of 3.3% over the forecast period.
By geography, North America dominated the market with over 65% market share in 2014, followed by Europe. Opioids market in Asia-Pacific is projected to expand at the highest CAGR of 6.7% during the forecast period.