According to a recent assessment by Future Market Insights (FMI), the opioid analgesics market is slated to expand at a 5.2% CAGR, attaining USD 43.3 billion in 2023. Soaring demand for post-surgery pain management and advancements in drug formulations to reduce analgesic side effects are predicted to propel sales of opioid analgesics over the forecast period.
Morphin sales are expected to command 13% of the overall opioid analgesics market share, with a market valuation of USD 72.0 billion by 2033, according to FMI.
The Opioid Analgesics Key Determinants - Creating Hype
Opioid analgesics are ideal for pain management and palliative care due to their convenience and efficacy. However, to reduce the risk of addiction and overuse, definite restrictions on opioid sales are in place.
As a result, manufacturers are trying to enhance their product offerings by investing in research and development to develop milder and less addictive drugs. It points to lucrative market growth opportunities for key opioid analgesics manufacturers.
The Valuable Opportunities for Market Makers in the Couple of Years
On the other hand, many people believe that smaller doses of opioids are ineffective in alleviating severe pain. These patients require more drugs to relieve their pain, which inevitably leads to opioid tolerance and, in some cases, addiction to these drugs.
One of the primary opportunities for opioid analgesic manufacturers in the opioid drugs market is expected to be the commercialization of opioid-tolerant drugs. It helps to reduce the side effects caused by or associated with high opioid drug consumption, which is estimated to boost sales of opioid analgesics in the coming years.
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The Rising Prevalence of Opioid Addiction May Harm its Sales
The primary factors limiting global market growth are the unavailability of opioids in emerging markets and the side effects associated with these drugs. Aside from that, the escalating magnitude of abusive opioids and their misuse impedes global market growth.
Furthermore, chronic opioid side effects pose a significant barrier to market growth. Due to the increased abuse of addictive opioids, physicians have scaled back their pain management prescriptions, decreasing global sales. The rising prevalence of opioid abuse is expected to stifle market growth, as practitioners are hesitant to prescribe opioids as pain relievers.
| Attributes | Details |
|---|---|
| Market CAGR (2023 to 2033) | 5.2% |
| Market Valuation (2023) | USD 43.3 billion |
| Market Valuation (2033) | USD 72.0 billion |
According to the drug class, oxycodone is expected to account for 19.1% of the global market. Oxycodone is one of the most potent pain relievers on the market. The medication relieves pain and allows patients to go about their daily activities.
Previously, oxycodone was not widely used due to a lack of knowledge about the constituents and the high cost of drugs. The rising awareness about the benefits of oxycodone, such as increased bioavailability, is encouraging the drug's use.
Global Market by Indication
Due to the rise in surgical procedures and the incidence of associated post-operative pain, the indication of surgical pain is expected to account for 45.9% of the opioid analgesics market share.
Opioid analgesics are used as an effective treatment for pain management following an operation or surgery. Over the forecast period, increased adoption of medications for pain management and relief is expected to drive demand for opioid analgesics.
Global Market by Route of Administration
Hospital pharmacies are expected to account for 33.4% of the total market share. Hospitals are leading care facilities with a large presence of well-trained staff and professionals who assist patients in receiving effective treatment. Adoption of prescribed therapy in clinics and hospitals aids in physician-supervised drug delivery. It is one of the primary factors driving sales of opioid analgesics through hospital pharmacies.
Principal Consultant
| Countries | Forecast Share Between 2023 to 2033 |
|---|---|
| United States | 41.9% |
| Germany | 5.7% |
| Japan | 4.2% |
| Countries | Forecast CAGR Between 2023 to 2033 |
|---|---|
| Australia | 4% |
| China | 7.7% |
| India | 5.3% |
| United Kingdom | 4.3% |
The United States is expected to dominate the global market, accounting for 41.9% of the global market. The rising prevalence of chronic illnesses, as well as the growing adoption of opioid analgesics as pain relievers, is expected to continue to boost sales of opioid analgesics.
Key opioid analgesic manufacturers in the United States are focusing on launching new products to comply with updated regulatory procedures. Furthermore, government-led investments in clinical research are estimated to enable the country to maintain its dominance over the forecast period.
In Germany, sales of opioid analgesics are expected to record a 3.8% CAGR, reaching a valuation of USD 2.2 billion in 2023. Germany is estimated to secure a CAGR of 5.7% in the global market by 2033.
Adoption of opioid maintenance treatment (OMT) for treating opioid dependence (O.D.), increased use of non-abusive opioids, and favorable reimbursement programs offered by German regulatory bodies regarding awareness of palliative care are key factors driving sales of opioid analgesics in Germany.
The United Kingdom is expected to lead the European market, with sales increasing at a 4.3% CAGR during the forecast period.
The healthcare system in the United Kingdom is well-known and universal, with significant government funding. It is widely regarded as having one of the most thriving healthcare systems in the world.
The United Kingdom is the third leading global market, and this position is expected to be maintained throughout the forecast period. Furthermore, the presence of several key players, expanding pipeline drugs, and increasing research efforts create lucrative global market opportunities in the United Kingdom.
China is expected to lead the East Asian market in 2023, accounting for a CAGR of 7.7% in the global market share. Due to the increasing use of large amounts of opioids for pain management and its extensive manufacturing capacity, China dominates the East Asian market.
Due to rapid productivity and large-scale capital investments in the healthcare sector, China is the world's second-largest pharmaceutical market.
India is anticipated to account for 35.4% of the South Asian market for opioid analgesics, with sales increasing at a steady 5.3% CAGR.
Due to the nation's rising need for opioid analgesics, small and large pharmaceutical companies in India actively fund research and development. Many innovative drugs in the funnel are mostly finished and are estimated to be accessible to patients soon.
Clinical trials for opioid analgesics are made possible by government-funded healthcare and pharmaceutical institutions in India. In the upcoming years, the increase in research activities underway in India is anticipated to fuel the global market.
With the addition of two complementary development initiatives, the acquisition of Metys expands Novaremed's pipeline of novel, non-opioid development candidates for chronic pain indications.
With the addition of chemotherapy-induced peripheral neuropathy (CIPN) to its current focus on excruciating diabetic peripheral neuropathy, Novaremed's pipeline expansion enables it to target a wider segment of neuropathic pain indications (PDPN).
The company announced that Bristol Myers Squibb acquired Turning Point Therapeutics, Inc. in an all-cash deal. Turning Point is now a fully owned subsidiary of Bristol Myers Squibb after the acquisition was finalized, and shares of Turning Point no longer trade on the NASDAQ Global Select Market.
AntalGenics, a Spanish startup, created novel molecules to treat chronic pain. The startup is looking into two molecules, AG1529 and AG1531, to treat osteoarthritis pain and psoriatic pruritus. Additionally, the startup creates cosmetic active ingredients for skin and scalp sensitivity.
At in-cosmetics Virtual 2020, AntalGenics is estimated to introduce two of its cutting-edge neuro cosmetic ingredients: Capsisilence, which promotes a healthy scalp, and Calmapsin, which lessens the signs of sensitive skin.
A drug to mimic the effects of morphine without the negative side effects is being developed by the French startup InnoPain. The analgesic effect of morphine is produced by an interaction between the startup's lead candidate, TREK-1, and the -opioid receptor (OR). The startup is also working on RNE28, a new oral and intravenous analgesic medication class.
The pharmaceutical company Neumentum has raised USD 6 million in a Series A funding round by selling Series A Convertible Preferred Stock. Momentum is committed to revolutionizing how acute and chronic pain is treated without using opioids. The sole placement agent for the financing was Brookline Capital Markets.
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Crucial players emphasize product portfolio expansion by launching new and updated products in the emerging market. Players in the market for opioid analgesics are anticipated to benefit from product approvals, agreements, partnerships, facility expansion, and strategic collaborations to achieve a competitive advantage.
Pfizer Inc., Abbott Laboratories, Janssen Pharmaceuticals, Inc., Johnson & Johnson, Novartis AG, Bayer AG, GlaxoSmithKline plc, F. Hoffmann-La Roche AG, Boehringer Ingelheim International GmbH, Bausch Health Companies Inc., and Sanofi S.A. are some of the significant players operating in the market for opioid analgesics.
Recent Developments in the Global Market are:
The FDA approved the new drug application Allergan PLC submitted in January 2020. The application was made by a business called DURYSTA for the Food and Drug Administration. It is the first of its kind and aims to lower intraocular pressure by giving sustained-release, biodegradable medication. Due to open-angle glaucoma and ocular hypertension (OHT), this is possible.
The FDA disclosed that the Prescription Drug User Fee Act (PDUFA) may come into effect on December 1st, 2019, at Veritas Pharma Inc. In 2020, Daiichi Sankyo declared its plan to collaborate with Ultragenyx Pharmaceutical to enhance research.
| Attributes | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD billion for Value |
| Key Countries Covered | United States, United Kingdom, Japan, India, China, Australia, Germany |
| Key Segments Covered | Type, Application, Installation, Region. |
| Key Companies Profiled | Pfizer Inc.; Abbott Laboratories; Janssen Pharmaceuticals, Inc. [Johnson & Johnson]; Novartis AG; Bayer AG; GlaxoSmithKline plc; F. Hoffmann-La Roche AG,; Boehringer Ingelheim International GmbH; Bausch Health Companies Inc.; Sanofi S.A.; Teva Pharmaceuticals; AbbVie Inc. (Allergan plc); Purdue Pharmaceuticals L.P.; Sun Pharmaceutical Industries Ltd.; Mallinckrodt Pharmaceuticals; Endo Pharmaceuticals Inc. [Endo International plc]; Assertio Therapeutics, Inc. [Assertio Holdings, Inc.] |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The market in 2023 is valued at USD 43.3 billion.
Hospital pharmacies are expected to account for a market share of 33.4%.
The market will register a 5.2% CAGR until 2033.
By 2033, the market will reach USD 72.0 billion.
The Chinese market is likely to register a CAGR of 7.7% through 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Drug Class 5.1. Morphine 5.2. Codeine 5.3. Fentanyl 5.4. Meperidine 5.5. Methadone 5.6. Tramadol 5.7. Oxycodone 5.8. Dextromethorphan 5.9. Buprenorphine 5.10. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Indication 6.1. Surgical Pain 6.2. Cancer Pain 6.3. Neuropathic Pain 6.4. Other 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Administration 7.1. Oral 7.2. Parenteral 7.3. Transdermal 7.4. Other 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User 8.1. Hospitals 8.2. Retail Pharmacies 8.3. Drug Stores 8.4. Online Pharmacies 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. Eastern Europe 9.5. South Asia and Pacific 9.6. East Asia 9.7. Middle East and Africa 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. Key Countries Market Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. Pfizer Inc. 19.2. Abbott Laboratories 19.3. Janssen Pharmaceuticals, Inc. [Johnson & Johnson] 19.4. Novartis AG 19.5. Bayer AG 19.6. GlaxoSmithKline plc 19.7. F. Hoffmann-La Roche AG 19.8. Boehringer Ingelheim International GmbH 19.9. Bausch Health Companies Inc. 19.10. Sanofi S.A. 20. Assumptions & Acronyms Used 21. Research Methodology
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Opioid Analgesics Market
