North America Opioid Market Size & Share Report 2021–2028 | Growth Market Reports

The North America opioid market size is projected to expand at a high CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing geriatric population and wide popularity of pain management therapies in the region.

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Opioids refers to a class of drugs that are widely adopted as pain relievers including anesthesia. The drugs are largely available with medical prescription such as hydrocodone, oxycodone, morphine, codeine and many others. Along with the use as analgesics, the opioids are largely used as anti-diarrheal medicines and cough suppressants. Pain relief medicines are influenced by the non-opioid, as they avoid the risk of developed drug reliance.

Market Trends, Drivers, Restraints, and Opportunities

• Growing number of the geriatric population who are at risk of developing irreversible and incurable situations is fueling the demand for pain management therapies. This is expected to boost the market growth.
• Rising use of opioid medication for several pain management drugs is a critical element driving the market growth.
• Rising penetration of generics along with the increasing healthcare investment phases in the region is estimated to spur the overall market revenue during the forecast period

Market Segment Insights

Oxymorphone segment is expected to grow at a robust pace

Based on products, the North America opioid market is classified into codeine, extended-release/long-acting, immediate-release/short-acting, oxycodone, hydrocodone, morphine, fentanyl, hydroxymorphone, propoxyphene, oxymorphone, methadone, buprenorphine, and tapentado. The oxymorphone segment accounted for a key share of the market in 2019 and is expected to grow at a robust pace during the projected period due to presence of a strong drug pipeline.

Anesthesia segment is projected to expand at a considerable CAGR

On the basis of applications, the market is divided into cancer pain, pain relief, post-operative pain management, orthopedic, low back pain, anesthesia, fibromyalgia, neuropathic pain, cough suppression, de-addiction, and diarrhea suppression.

The US is anticipated to constitute a key market share

In terms of geography, the North America opioid market is classified as the US and Canada. The US held a dominant market share in 2019 and is anticipated to constitute a key share of the market during the projected period due to the surging elderly population with a higher prevalence of chronic conditions.

Competitive Landscape

Key players competing in the North America opioid market are Allergan Plc (Actavis); Purdue Pharma L.P.; Pfizer, Inc.; Egalet Corp.; and Janssen Pharmaceuticals, Inc. The main market players are continuously engaged in various market expansion activities such as mergers, acquisitions, research and developments, investments for innovative products, and collaborations to enhance their market share. For instance, Roxane laboratories, Inc. and Boehringer Ingelheim Roxane Inc. were acquired by Hikma Pharmaceuticals Plc in March 2016 to expand its business operations.

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