U.S. Opioids Market Key players, competitors, regional outlook forecast 2018-2026
Opioids can be
defined as a class of drugs, which include the drug heroin, synthetic
opioids such as fentanyl, and various pain relievers prescribed
legally, such as oxycodone, hydrocodone, and others. This class of
drug is primarily taken for pain relief. It has been used for other
medical purposes including cough and diarrhea treatment. They bind to
opioids receptor and produce a desirable result. Opioids are
generally safe when taken for a short time, regular use of the drug
can lead to dependence and in extreme cases may even result in death.
Market
Dynamics
According to the
National Institutes of Health (NIH) estimates, in 2015 by the
American Pain Society, nearly 50 million people in the U.S. suffered
from chronic pain. Use of opioids in cancer, orthopedic, neuropathic,
post-operative pain, and lower back pain is very effective. With
growing incidence of chronic pain demand for opioids is also expected
to increase consequently. Moreover, opioid overdose or abuse has
fueled the growth of the U.S. opioids market. CVS Health’s, leading
pharmacy chain, reports that company had been often asked to fill the
prescription of 30 to 60 of the powerful pills at a time for
conditions that required a much more limited amount.
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Key features
of the study:
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This report provides in-depth analysis of the U.S. opioids market size (US$ Million) and Cumulative Annual Growth Rate (CAGR (%)) for the forecast period: 2016 – 2024, considering 2015 as the base year
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It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
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This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players
Detailed
Segmentation:
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U.S. Opioids Market, By Drugs
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Codeine
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Fentanyl
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Meperidine
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Methadone
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Morphine
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Hydrocodone
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Crisis in
the U.S. Opioids Market
According to the New
York Times analysis of state data, in 2016, drug overuse led to death
of 59,000 to 65,000 people in the U.S. Around two-third of these
deaths were due to opioids overuse and the number is expected to
increase. According to a survey of National Institute of Drug Abuse
(NIDA), deaths due to the overdose prescription of opioid pain
relievers have more than tripled in the past 20 years, escalating to
16,651 deaths in the U.S. in 2010. It can be concluded from the
analysis of the data (data from the survey and New York Times data),
that death due to opioids have more than doubled in the past six
years.
Increasing
incidences of chronic pain is expected to drive growth of the U.S.
opioids market
According to the
American Academy of Pain Medicine (AAPM), 2011, around 1.8 billion
people suffered from chronic pain. Moreover, according to the
National Institute of Health (NIH) estimates in 2015, one in 10
people in the U.S. suffered from chronic pain. Increasing prevalence
of chronic pain is expected to result in high prescription of opioids
pain relievers, which in turn is expected to fuel the market growth.
Easy availability and favorable insurance policy are other major
drivers for growth of the U.S. opioids market.
Cannabis as
potential alternative for pain relief can be a threat to the U.S.
opioids market
Cannabis could be
the alternative therapy for opioids. Currently, medical marijuana is
legal in 28 states and the District of Columbia even though it is
illegal under federal law. According to a research published in
Annals of Internal Medicine, in majority of cases, between 45% and
85%, medical marijuana is used for pain management. However, there is
some ambiguity about medical marijuana effectiveness in pain
management. Cannabis could be used as effective therapy after
establishment of clinical trials.
Some major
players operating in the U.S. opioids market include Purdue
Pharma L.P., Titan Pharmaceuticals, Inc., Boehringer Ingelheim GmbH,
Janssen Pharmaceuticals, Inc., Sanofi S.A., Sun Pharmaceuticals
Industries Limited, Mallinckrodt Pharmaceuticals, Egalet Corporation,
Endo Pharmaceuticals plc, Allergan, plc, and Pfizer Inc.
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more on U.S.
Opioids Market
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