Opioids Market is expected to witness a CAGR of 5.3% over the forecast period 2017 – 2025

Google+ Pinterest LinkedIn Tumblr +

Worldwide Market Reports added Latest Research Report titled ” Opioids Market – Global Industry Insights, Trends, Outlook, and Opportunity Analysis ” to its Large Report database.

Global Opioids Market, by Drug Class (Agonist (Codeine, Fentanyl, Meperidine, Methadone, Morphine, Hydrocodone, Diphenoxylate, Hydromorphone, Methylphenidate, Oxycodone, Oxymorphone) and Antagonist (Buprenorphine, Naloxone, Naltrexone, Methylnaltrexone, Nalbuphine)), by Therapeutic Application (Pain Management, Cough Treatment, Diarrhea Treatment), and by Geography (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa) was valued at US$ 28,252.3 million in 2016 and is expected to witness a CAGR of 5.3% over the forecast period (2017 – 2025), as highlighted in a new report published by Coherent Market Insights. Increasing incidences of chronic pain, easy accessibility to opioids, especially in developed economies, and low cost of opioids as compared to alternative pain therapy are the prime forces driving growth of this market. However, increasing intervention from government or regulatory bodies and growing adoption of cannabis may hinder the growth of the market.

Request for Sample Copy of Research Report: https://www.worldwidemarketreports.com/sample/187562

In October 2017, the U.S. president Donald Trump declared the opioid crisis as a public health emergency. This declaration will be helpful in increasing the awareness about the drug overuse or abuse and also, restrict the doctors from over-prescribing the opioids drug. However, the government denied any financial assistance.
The New York State Attorney General’s office sent letters to three largest pharmacy benefit managers in the U.S. — CVS Caremark, Express Scripts, and OptumRx respectively, in September 2017, asking them to provide information on the steps they are undertaking to address the opioid crisis. Moreover, during the same month, Attorney General of over 35 states in the U.S. sent a letter to the health insurance industry’s main trade group, recommending its members to reconsider coverage policies that may be fueling the opioid crisis.
Browse 130 Market Data Tables and 42 Figures spread through 313 Pages and in-depth TOC on Opioids Market, by Drug Class (Agonist (Codeine, Fentanyl, Meperidine, Methadone, Morphine, Hydrocodone, Diphenoxylate, Hydromorphone, Methylphenidate, Oxycodone, Oxymorphone) and Antagonist (Buprenorphine, Naloxone, Naltrexone, Methylnaltrexone, Nalbuphine)), by Therapeutic Application (Pain Management, Cough Treatment, Diarrhea Treatment), and by Geography (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa) – Global Forecast to 2024
The regulatory authorities in U.S. started taking steps towards combating the issue by encouraging the use of opioid antagonists as prescription opioids for adults and children, given the changing scenario of opioid prescription for medication to misuse and overuse of the drug leading to opioid crisis. For instance, the Commissioner’s Opioid Action Plan by U.S. FDA in 2016 addressed the epidemic of opioid abuse, addiction and overdose wherein, the FDA approved two products of naloxone for the community use in adults and pediatrics. On the other hand, the FDA made the regulatory guidelines more stringent pertaining to prescription opioids (agonists), for both medical practitioners and healthcare providers as well as for prescription opioids manufacturers.

To get detailed Table of Content (ToC): https://www.worldwidemarketreports.com/toc/187562

According to a study conducted by RTI International, the lifetime rate of nonmedical opioid use in the European Union was close to 14% in 2016, significantly high from the previous year in which it was computed to be around 5%. Moreover, according to The European Drug Situation in 2017 report, opioids overdose resulted in 81% of all deaths due to drug overdose in European countries in 2016.
European Monitoring Centre for Drugs and Drugs Addiction has warned against the opioid overuse in 2017. Moreover, The European Drug Report 2017 states that five countries (Germany, Spain, France, Italy, and UK) accounted for 76% of the high-risk opioid users in the European Union. Opioid abuse has been a major factor for its higher sales and addiction. Nearly 38% of the treatment requests in European Union included opioid as the principal drugs (The European Drug Report 2017). However, government in respective countries are taking steps to promote opioid antagonists use which are safer compared to the opioid agonist drugs.
Key Takeaways of the Opioids Market:
• The global opioids market is expected to exhibit a CAGR of 3% over the forecast period (2016 – 2024), owing to increasing incidence of chronic pain, especially in developed countries
• Opioids overuse or abuse, which is contributing significantly to this market expansion, has become a major concern in developed regions such as North America
• Alternative drugs for pain management such as cannabis, have gained attraction over the recent past. If proven effective and safe, cannabis is expected to potential to replace opioids
• The use of medical cannabis has been endorsed by numerous professional organizations in the U.S., including the American Academy of Family Physicians, the American Public Health Association, and the American Nurses Association. In other developed countries such as UK, Germany, and other European countries, cannabis has gained significant traction, however it is yet to receive endorsements
• Pressure is mounting on leading pharmacy chains such as CVS, to assist in limiting the opioid drug prescription
• Key companies covered in this study include Purdue Pharma L.P., Titan Pharmaceuticals, Inc., Boehringer Ingelheim GmbH, Janssen Pharmaceuticals, Inc., Sanofi S.A., Sun Pharmaceutical Industries Ltd., Mallinckrodt Pharmaceuticals, Egalet Corporation, Endo Pharmaceuticals Inc., Allergan, Plc, and Pfizer Inc.

Request for Discount @ https://www.worldwidemarketreports.com/discount/187562

List of Tables and Figures
.
.
Continue

*Any special requirements about this report, please let us know and we can provide custom report.

About WMR

Worldwide Market Reports is your one-stop repository of detailed and in-depth market research reports compiled by an extensive list of publishers from across the globe. We offer reports across virtually all domains and an exhaustive list of sub-domains under the sun. The in-depth market analysis by some of the most vastly experienced analysts provide our diverse range of clients from across all industries with vital decision making insights to plan and align their market strategies in line with current market trends. Worldwide Market Research’s well-researched inputs that encompass domains ranging from IT to healthcare enable our prized clients to capitalize upon key growth opportunities and shield against credible threats prevalent in the market in the current scenario and those expected in the near future.

Contact Us:

Mr. Shah
Worldwide Market Reports
1001 4th Ave,
#3200
Seattle, WA 98154,
U.S
Tel: +1 415 871 0703
Email: [email protected]

Share.

About Author

Is an excellent researcher with expertise in the healthcare domain. His detailed research on topics related to recent breakthroughs in the genetic engineering, pharmacy, and healthcare fields coupled with his ability to concise his in-depth study in the best way possible, is of great advantage to this new portal. Contact Author

Comments are closed.