Report : North America 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 1.3% CAGR, North America Opioids Market is Speculated to be worth US$ 5,449.88 million by 2030, says Business Market Insights
According to Business Market Insights’ research, the North America opioids market was valued at US$ 4,921.89 million in 2022 and is expected to reach US$ 5,449.88 million by 2030, registering a CAGR of 1.3% from 2022 to 2030. Government initiatives focusing on development of medication to prevent and treat opioid overdose and disorder and increasing geriatric population are among the critical factors attributed to drive the North America opioids market growth.
The US Food and Drug Administration has approved only a few medications for the treatment of opioid use disorder and withdrawal. More effective and flexible treatment options are required to cater to the needs of individuals with co-occurring mental health disorders that raise the risk of addiction and overdose. Thus, governments are focusing on the development of medication for opioid use disorder treatment, prevention, and reversal. The Helping to End Addiction Long-term (NIH HEAL) Initiative is accelerating the development of treatments for all forms of the opioid addiction cycle, including progression to withdrawal symptoms, chronic use, craving, overdose, and relapse globally. The disorder needs more flexible treatment options to encourage long-term recovery in more patients. The National Institute on Drug Abuse (NIDA) has submitted nearly 15 Investigational New Drug (INDs) applications and 5 New Drug Applications (NDAs) to the FDA. The NIDA pursues research for the discovery and development of medications to prevent and treat OUD and/or psychostimulant (methamphetamine or cocaine) use disorder (PsUD) and overdose. Thus, increasing government initiatives focusing on the development of medications to prevent and treat opioid use disorder and overdose are expected to introduce new trends to the North America opioids market during the forecast period.
Therefore, owing to the advantage of opioids in pain management, the demand is rising among patients with chronic diseases.
On the contrary, the increasing drug abuse hampers the growth of North America opioids market.
Based on product, the North America opioids market is segmented immediate release short acting opioid and extended release long acting opioid. The immediate release short acting opioid segment held 69.0% market share in 2022, amassing US$ 3,396.89 million. It is projected to garner US$ 3,783.63 million by 2030 to register 1.4% CAGR during 2022–2030. The immediate release short acting opioid is further subsegmented into oxycodone, hydrocodone, tramadol, codine, propoxyphene, and others. The extended release long acting opioid is further subsegmented into oxycodone, fentanyl, morphine, methadone, and others.
In terms of application, the North America opioids market is categorized into pain management, anesthesia, diarrhea suppression, cough suppression, de-addiction, and others. The pain management segment held 71.0% share of North America opioids market in 2022, amassing US$ 3,494.75 million. It is anticipated to garner US$ 3,900.29 million by 2030 to expand at 1.4% CAGR during 2022–2030.
By route of administration, the North America opioids market is segmented into oral, injectable, and transdermal patch. The oral segment held 74.6% market share in 2022, amassing US$ 3,671.97 million. It is projected to garner US$ 4,083.09 million by 2030 to register 1.3% CAGR during 2022–2030.
By distribution channel, the North America opioids market is bifurcated into hospital pharmacies and retail pharmacies. The hospital pharmacies segment held 61.3% market share in 2022, amassing US$ 3,015.88 million. It is projected to garner US$ 3,397.27 million by 2030 to register 1.5% CAGR during 2022–2030.
By country, the North America opioids market is segmented into US, Canada, and Mexico. Our regional analysis states that the US captured 87.7% share of North America opioids market in 2022. It was assessed at US$ 4,318.23 million in 2022 and is likely to hit US$ 4,723.75 million by 2030, registering a CAGR of 1.1% during 2022–2030.
Key players operating in the North America opioids market are Purdue Pharma LP, Endo International plc, Mallinckrodt Plc, Collegium Pharmaceutical Inc, Neuraxpharm Pharmaceuticals SL, Hikma Pharmaceuticals Plc, Rusan Pharma Ltd, Trevena Inc, and Teva Pharmaceutical Industries Ltd; among others.
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