IMARC Group, a leading market research company, has recently released a report titled “Opioids Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global opioids market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How Big is the Opioids Market?

The global opioids market size reached US$ 21.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 25.6 Billion by 2028, exhibiting a growth rate (CAGR) of 3.1% during 2023-2028.

What are Opioids?

Opioids are a class of potent drugs that are primarily used for pain management. These substances act on specific receptors in the brain and spinal cord to reduce the perception of pain. They are characterized by their ability to produce analgesic (pain-relieving) effects, as well as other distinct features. Opioids can be natural, semi-synthetic, or fully synthetic in origin. Natural opioids, like morphine and codeine, are derived from the opium poppy plant. Semi-synthetic opioids, such as oxycodone and hydrocodone, are chemically modified from natural compounds. Fully synthetic opioids, like fentanyl and methadone, are entirely man-made. Opioids also have the potential for addiction and abuse due to their euphoric effects, leading to a widespread opioid crisis in many regions.

Additionally, overdose risk is a significant concern, as opioids can depress the central nervous system, potentially leading to respiratory failure and death. Proper medical supervision and strict regulatory measures are crucial to managing the use of opioids effectively and safely.

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What are the Growth Prospects and Trends in the Opioids Industry?

The rising demand for effective pain management solutions represents one of the key factors driving the growth of the market. Moreover, opioids play a crucial role in pain relief, and this demand is consistently on the rise worldwide. Additionally, the pharmaceutical industry's increasing focus on developing safer and more effective opioid formulations is driving innovation in this sector, thus propelling the market growth. Besides this, the growing awareness about the importance of high-quality opioids and their role in pain management, which is influencing both manufacturers and healthcare providers and contributing to market expansion.

In addition to this, regulatory authorities are imposing stricter controls and requirements for the approval and distribution of opioids, which is instilling consumer confidence and ensuring the integrity of the market. Furthermore, collaborations between pharmaceutical companies and research institutions are fostering an environment conducive to innovation in opioid formulations, is driving the market growth globally.

Who are the Key Players Operating in the Opioids Market?

The competitive landscape of the industry has also been examined along with the profiles of the key players.

  • Boehringer Ingelheim International GmbH
  • Hikma Pharmaceuticals PLC
  • Mallinckrodt plc
  • Pfizer Inc.
  • Purdue Pharma L.P.
  • Sanofi S.A.
  • Sun Pharmaceutical Industries Ltd.
  • Teva Pharmaceutical Industries Ltd.

What is Included in Market Segmentation?

The report has categorized the market based on product type, application, distribution channel and region.

Breakup by Product Type:

  • Codeine 
  • Fentanyl
  • Methadone
  • Oxycodone
  • Morphine
  • Hydrocodone

Breakup by Application:

  • Pain Management
  • Cough Treatment
  • Diarrhea Treatment
  • Others

Breakup by Distribution Channel:

  • Hospital Pharmacies
  • Retail Pharmacies
  • Drug Stores
  • Online Stores
  • Others

Regional Analysis:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

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Key Highlights of The Report:                                                    

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Market Trends
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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