Opioid Market

Opioid Market Outlook (2024 to 2034)

The global opioid market is estimated to be valued at US$ 45,645.8 million in 2024. Projections indicate a steady expansion with a CAGR of 3.4% through 2034. Anticipated growth is expected to propel the market to an impressive size of US$ 63,472.6 million by 2034.

Surgical procedures also catalyze the opioid market. Post-operative pain management often necessitates the use of opioids to ensure patients' comfort during recovery. The escalating number of surgical interventions globally, encompassing orthopedic, cardiac, and various other procedures, amplifies the demand for opioids in the healthcare landscape.

The world's aging population contributes significantly to the upsurge in demand for opioids. As individuals age, they are more prone to conditions associated with chronic pain, including arthritis, degenerative spinal issues, and other age-related ailments. This demographic shift translates into a larger cohort seeking pain relief, thereby driving the market growth for opioids.

Widespread acceptance of opioids as a standard in pain management contributes significantly to their continued use across various medical disciplines.

Healthcare professionals increasingly rely on opioid to alleviate moderate to severe pain, considering them an integral component of comprehensive pain treatment strategies.

Report Attributes	Details
Estimated Market Value (2024E)	US$ 45,645.8 million
Forecasted Market Value (2034F)	US$ 63,472.6 million
Global Market Growth Rate (2024 to 2034)	3.4% CAGR
Analgesia Segment Growth Rate (2024 to 2034)	2.9% CAGR
Hospital Pharmacies Segment Growth Rate (2024 to 2034)	2.5% CAGR
North America Market Share (2024)	51.8%
East Asia Market Share (2024)	9.5%
Key Companies Profiled	Aurobindo Pharma Limited Assertio Therapeutics Inc. AbbVie Inc. Actavis Plc Amneal Pharmaceuticals LLC, Boehringer Ingelheim International GmbH Cadila Healthcare Limited Fresenius Kabi Mallinckrodt Pharmaceuticals Endo International plc.

Which Factors Are Driving The Demand For Opioid Market?

“Increasing Recognition and Understanding of Opioids Role in Managing Pain.”

Opioid are highly effective in managing various types of pain, especially moderate to severe pain. Their potency in providing rapid and powerful pain relief makes them a preferred choice for acute and chronic pain conditions.

Opioid are being increasingly utilized in diverse medical scenarios beyond traditional applications. They are prescribed not just for post-operative or cancer-related pain but also for various chronic conditions like neuropathic pain, severe arthritis, and debilitating injuries.

The National Institute of Health (NIH) notes that opioids are commonly prescribed for individuals experiencing moderate to severe pain, with some opioids also serving dual purposes in treating cough and diarrhea.

Over recent years, there has been a noticeable uptick in the demand for opioids, especially those prescribed for pain management. Factors such as the implementation of opioid Maintenance Treatment (OMT) and heightened awareness of palliative care have played significant roles in driving this increased demand for opioids on a global scale.

Which Factor May Impede the Growth of the Opioid Market?

“The Decline In Opioid Sales Is A Direct Result Of Widespread Worries And Heightened Awareness Regarding Their Misuse And Abuse”.

One of the most significant challenges is the risk of addiction and misuse associated with opioids. The potential for dependency and abuse has led to a global opioid crisis, prompting concerns about overprescription and inappropriate use. Heightened regulatory scrutiny has resulted in stricter guidelines for prescribing opioids, impacting accessibility for patients in genuine need of pain relief. Regulatory changes often aim to strike a balance between ensuring access for patients and preventing misuse.

The economic burden associated with opioid misuse, addiction treatment, and healthcare costs related to opioid-related complications poses a challenge for healthcare systems and insurers.

Healthcare providers have scaled back opioid prescriptions due to the alarming levels of abuse and misuse associated with these medications, resulting in a global decline in opioid sales. Estimates from the International Association for the Study of Pain (IASP) suggest that roughly 20% to 30% of opioids prescribed for chronic pain are misused. Furthermore, the association notes that approximately 10% of individuals using opioid develop an addiction.

Country-wise Insights

The North American opioid market is poised for exceptional growth, projecting a CAGR of 3.0% through 2034. The growth of the opioid market in the region is driven by increased demand in key countries United States and Canada. In 2024, the United States will dominate the opioid industry with an estimated 91.5% market share.

Meanwhile, the East Asia opioid market is anticipated to exhibit substantial progress, aiming for a 3.6% CAGR through 2034. In East Asia, China emerges as the key player in the opioid industry, commanding a significant share of 67.5% in 2024.

Why is the United States Dominating the Opioid Market?

“Increasing Demand for Pain Management Solution to Boost the Market Growth in the United States”

Attribute	United States
Market Value (2024)	US$ 21,625 million
Growth Rate (2024-2034)	3.0% CAGR
Projected Value (2034)	US$ 29,047 million

The United States is forecasted to hold 91.1% of the North American market share by the end of 2034. The United States witnessed a substantial surge in opioid prescriptions, leading to heightened consumption rates. This escalation was partly attributed to a perception that opioids were a primary solution for managing pain effectively. Consequently, the market experienced robust growth as pharmaceutical companies introduced a wide array of opioid medications.

The increasing understanding and acceptance of palliative care for patients nearing the end of life are contributing to the growing adoption of analgesics for pain management. With over 75% prevalence of pain in chronic disease cases, the rising awareness and availability of palliative care services in the United States are anticipated to drive the growth of the opioid market.

What is the Demand outlook for Opioids in China?

“Increased Healthcare Spending to Boost Opioid Market Growth in China”.

Attribute	China
Market Value (2024)	US$ 2,915 million
Growth Rate (2024-2034)	3.3% CAGR
Projected Value (2034)	US$4,050 million

China is predicted to have 65.7% of the East Asia market revenue by 2034. The China's growing healthcare expenditure and improvements in healthcare infrastructure have contributed to greater accessibility to medications, including opioids.

China has witnessed a surge in chronic pain cases due to factors like aging population, lifestyle changes, and increased incidence of chronic illnesses, creating a significant demand for pain management solutions.

China's pharmaceutical industry has experienced substantial growth, fostering the development, production, and distribution of medications, including opioids, to meet the rising healthcare demands of its populace.

China has been refining its regulatory framework concerning opioid medications. The government has been introducing measures to address the risks associated with opioid use, aiming to ensure their appropriate prescription and use while curbing misuse and diversion.

Category-wise Insights

Based on the application, the analgesia segment is estimated to hold a 66.6% market share in 2024. Simultaneously, the cough suppression segment is anticipated to secure a 25.2% share, contributing significantly to the market growth.

Based on distribution channels, the hospital pharmacies segment marks its dominance in the opioids industry, with a share of 30.9% in 2024.

Which is The Most Popular application of the Opioid Market?

“Analgesia Segment Generates High Revenue”

Attribute	Analgesia
Segment Value (2024)	US$ 30,415.1 million
Growth Rate (2024 to 2034)	2.9% CAGR
Projected Value (2034)	US$ 40,528.4 million

In 2024, analgesics accounted for a significant market share of 66.6%. Opioids have long been regarded as potent medications for addressing pain, considered a standard therapy for severe acute pain and chronic pain associated with serious medical conditions globally.

Opioids are highly effective in managing various types of pain, especially moderate to severe pain. They interact with opioid receptors in the brain and spinal cord, altering pain perception and providing potent pain relief.

Opioids often offer quick relief, which can be crucial in situations where immediate pain management is necessary, such as post-surgical recovery or acute injury management.

Which is the leading Distribution Channel in the Opioid Market?

“Hospital Pharmacies Segment Account for a High Market Share”

Attribute	Hospital Pharmacies
Segment Value (2024)	US$ 14,095.9 million
Growth Rate (2024 to 2034)	2.5% CAGR
Projected Value (2034)	US$ 18,041.0 million

Based on the distribution channel, the hospital pharmacies segment is forecasted to hold 28.4% of the opioid share by 2034. As hospitals continue to proliferate worldwide, pharmaceutical companies are poised to experience substantial growth opportunities within the hospital pharmaceutical sector.

This sector's attractiveness is drawing larger pharmaceutical players into the oncology market, known for its lucrative sales potential within hospital pharmacies. In the coming years, patients are expected to increasingly prefer hospital pharmacies to other options, driven by a surge in chronic conditions like diabetes and cancer.

Competitive Landscape

The opioid industry is characterized by significant consolidation among key competitors. These companies are heavily invested in research and development, particularly for pain management drugs and exploring their potential in treating conditions like cough and diarrhoea. They're actively expanding their global presence through new product releases, mergers, and stronger distribution channels to reach wider markets.

• Aurobindo Pharma Limited has been involved in manufacturing and supplying generic opioids, contributing to the availability of opioid medications in various formulations.
• Assertio Therapeutics Inc. has focused on developing and commercializing pain management medications, including certain opioid formulations, with a specific emphasis on abuse-deterrent formulations.
• AbbVie Inc. has been involved in pain management and has had opioid -based products within its portfolio, often in combination formulations for specific medical needs.

Key players operating in the opioid market are Aurobindo Pharma Limited, Assertio Therapeutics, Inc., AbbVie Inc., Actavis Plc, Amneal Pharmaceuticals LLC, Boehringer Ingelheim International GmbH, Cadila Healthcare Limited, Fresenius Kabi, Mallinckrodt Pharmaceuticals, and Endo International plc.

Opioid Market - Key Segments

• By Product Type:

  • Morphine
  • Codeine
  • Fentanyl
  • Meperidine
  • Methadone

• By Application:

  • Cough Suppression
  • Analgesia
  • Diarrhea Suppression

• By Distribution Channel:

  • Hospital Pharmacies
  • Retail Pharmacies
  • Drug Store
  • Clinics
  • Others

• By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • South Asia and Pacific
  • East Asia
  • Middle East and Africa