Report : Middle East & Africa Opioids Market Forecast to 2030 - Regional Analysis - by Product (Immediate Release Short Acting Opioid and Extended Release Long Acting Opioid), Application (Pain Management, Anesthesia, Diarrhea Suppression, Cough Suppression, De-Addiction, and Others), Route of Administration (Oral, Injectable, and Transdermal Patch), and Distribution Channel (Hospital Pharmacies and Retail Pharmacies)
At 2.3% CAGR, Middle East & Africa Opioids Market is Projected to be Worth US$ 299.79 Million by 2030, says Business Market Insights
According to Business Market Insights' research, the Middle East & Africa opioids market was valued at US$ 249.22 million in 2022 and is expected to reach US$ 299.79 million by 2030, registering a CAGR of 2.3% from 2022 to 2030. Increasing geriatric population and increasing geriatric population are among the critical factors attributed to drive the Middle East & Africa opioids market growth.
The majority of older people live with chronic pain, resulting in reduced strength to carry out their daily routine. The geriatric population widely suffers from bone and joint disorders, arthritis, cancer, and other chronic disorders causing pain. According to the World Health Organization (WHO) data from February 2018, the geriatric population is estimated to grow by 22% by 2050 compared with 12% in 2015. The data also stated that low- and middle-income countries would account for nearly 80% of this surge. A number of developed countries are also experiencing significant growth in the geriatric population, which is driven by improved healthcare facilities and better healthcare services; this has resulted in increased life expectancy in these regions. An aging population drives the opioid market primarily through increased demand for pain management solutions. Additionally, older adults often undergo surgeries and medical procedures that necessitate pain management. Thus, the growing geriatric population across the world drives the growth of the opioids market.
On the contrary, the increasing drug abuse hampers the growth of Middle East & Africa opioids market.
Based on product, the Middle East & Africa opioids market is segmented immediate release short acting opioid and extended release long acting opioid. The immediate release short acting opioid segment held 75.8% market share in 2022, amassing US$ 189.01 million. It is projected to garner US$ 228.24 million by 2030 to register 2.4% CAGR during 2022-2030. The immediate release short acting opioid is further sub segmented into oxycodone, hydrocodone, tramadol, codeine, propoxyphene, and others. The extended release long acting opioid is further sub segmented into oxycodone, fentanyl, morphine, methadone, and others.
In terms of application, the Middle East & Africa opioids market is categorized into pain management, anesthesia, diarrhea suppression, cough suppression, de-addiction, and others. The pain management segment held 71.7% share of Middle East & Africa opioids market in 2022, amassing US$ 178.57 million. It is anticipated to garner US$ 216.44 million by 2030 to expand at 2.4% CAGR during 2022-2030.
By route of administration, the Middle East & Africa opioids market is segmented into oral, injectable, and transdermal patch. The oral segment held 75.4% market share in 2022, amassing US$ 187.80 million. It is projected to garner US$ 226.85 million by 2030 to register 2.4% CAGR during 2022-2030.
By distribution channel, the Middle East & Africa opioids market is bifurcated into hospital pharmacies and retail pharmacies. The hospital pharmacies segment held 61.3% market share in 2022, amassing US$ 152.67 million. It is projected to garner US$ 186.82 million by 2030 to register 2.6% CAGR during 2022-2030.
By country, the Middle East & Africa opioids market is segmented into Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that South Africa captured 54.9% share of Middle East & Africa opioids market in 2022. It was assessed at US$ 136.95 million in 2022 and is likely to hit US$ 161.17 million by 2030, registering a CAGR of 2.1% during 2022-2030.
Key players operating in the Middle East & Africa opioids market are Neuraxpharm Pharmaceuticals SL, Endo International plc, Hikma Pharmaceuticals Plc, Mallinckrodt Plc, Rusan Pharma Ltd, and Teva Pharmaceutical Industries Ltd, among others.
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