With a 1.8% CAGR, the Opioid Market is Expected to Reach USD 28.45 billion by 2034 | PMR

New York, USA, Dec. 19, 2024 (GLOBE NEWSWIRE) — Market Overview

The global opioid market is projected to grow from USD 23.70 billion in 2024 to USD 28.45 billion by 2034 at a CAGR of 1.8%, as per a recent report by Polaris Market Research.

Market Introduction

What are Opioids?

A class of drugs known as opioids is used to treat moderate to severe pain. Opioids can be produced from the plant of opium poppy or in a laboratory. By attaching themselves to opioid receptors on nerve cells in the nervous system or other body organs, they block pain signals. Opioids affect the brain in many ways, including reducing pain. Both illegal and prescription painkillers contain opioids. Because opioids can cause euphoria or a “high,” some people use them by illegal means. Opioid use disorder (OUD), another name for addiction, can be brought on by opioid drugs.

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Opioid Market Report and Scope Attributes

Leaders in Opioid Market

Significant market developments include contractual agreements, mergers and acquisitions, new product launches, increased investment, and collaboration with other organizations. Among the top companies in the market are:

• Pfizer Inc.
• Rhodes Pharmaceuticals L.P.
• Sun Pharmaceutical Industries Limited
• Trevena Inc.
• Teva Pharmaceutical Industries Ltd.
• Actavis Plc.
• Amneal Pharmaceuticals LLC
• Boehringer Ingelheim International GmbH
• Cadila Healthcare Limited
• Fresenius Kabi
• Endo International plc
• Johnson & Johnson Corporation
• Lupin Limited
• Aurobindo Pharma Limited
• Assertio Therapeutics, Inc.

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Market Growth Drivers and Opportunities

Growing Incidence of Traumatic Injuries

Traumatic injuries frequently cause acute and chronic pain, necessitating effective pain management strategies. Opioids are commonly prescribed in these cases to effectively manage pain because they provide significant relief, which is essential for recovery and rehabilitation. Furthermore, growing awareness of the long-term effects of TBIs has increased the demand for comprehensive pain management strategies, including opioid prescriptions. As a result, the increasing prevalence of traumatic injuries is significantly driving the opioid market growth.

Growing Investments in the Development of Medical Infrastructure

Government investments in healthcare to improve infrastructure and reduce disparities between urban and rural healthcare settings are expected to drive opioid market expansion over the forecast period. Increased healthcare spending worldwide, combined with a focus on improving healthcare access in underserved areas, is expected to drive up opioid prescriptions. The expansion of healthcare facilities will increase patient care services, driving up demand for pain management solutions, including opioids.

Regional Overview

North America had the largest revenue share in the opioid market in 2024, owing to advanced healthcare infrastructure that encourages higher pain management prescription rates. Additionally, as hospitals expand services and improve care delivery, demand for opioids as an effective pain relief option is expected to rise, boosting opioid market demand during the forecast period.

Asia Pacific is expected to have the highest CAGR during the forecast period, owing to its high population density and growing healthcare demand. With growing populations, particularly in aging societies like Japan and China, the demand for effective pain management solutions is increasing. Furthermore, the growing number of mergers and acquisitions and strategic partnerships between global and local players is increasing market accessibility and fostering innovation.

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Opioid Market Segmentation

By Class Outlook (Revenue – USD Billion, 2020–2034)

• Natural
• Semi-Synthetic
• Fully Synthetic

By Product Outlook (Revenue – USD Billion, 2020–2034)

• Codeine
• Fentanyl
• Oxycodone
• Methadone
• Morphine
• Hydrocodone
• Tramadol
• Propoxyphene
• Others

By Release Type Outlook (Revenue – USD Billion, 2020–2034)

• Immediate-Release/Short-Acting Opioid
• Extended-Release/Long-Acting Opioid         

By Application Outlook (Revenue – USD Billion, 2020–2034)

• Pain Management
• Neuropathic
• Migraine
• Orthopedic and Musculoskeletal
• Arthritis
• Fibromyalgia
• Others
• Cancer Pain
• Brain
• Breast
• Colorectal
• Blood
• Skin
• Prostate
• Others   
• Cough Treatment
• Analgesia
• Diarrhea Treatment
• De-addiction
• Others

By Regional Outlook (Revenue – USD Billion, 2020–2034)

• North America
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Netherlands
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Malaysia
  • South Korea
  • Indonesia
  • Australia
  • Rest of Asia Pacific
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Israel
  • South Africa
  • Rest of Middle East & Africa
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Rest of Latin America

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About Polaris Market Research & Consulting, Inc:

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