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Opioid Analgesics Market

Market Study on Opioid Analgesics: PMR Predicts Promising Prospects, Analysing the Rising Incidence of Chronic Pain Conditions, Increasing Surgical Procedures, and Rising Application in Post-surgical Pain Management

A Detailed Analysis of the Opioid Analgesics Market Influenced by an Expanding Aging Population, Rising Prevalence of Chronic Pain Conditions, and Advent of Pharmaceutical R&D

Opioid Analgesics Market

The global opioid analgesics market is forecast to expand at a CAGR of 5.0% and thereby increase from a value of US$43 Bn in 2023, to US$60.5 Bn by the end of 2030.

Attributes

Key Insights

Opioid Analgesics Market Size (2023E)

US$43 Bn

Projected Market Value (2030F)

US$60.5 Bn

Global Market Growth Rate (CAGR 2023 to 2030)

5.0%

Historical Market Growth Rate (CAGR 2018 to 2022)

4.1%

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Market Introduction and Definition

Opioid analgesics are medications designed to relieve pain by acting on opioid receptors. Weak opioid analgesics, such as compound analgesics combining acetaminophen with codeine or tramadol in modest dosages, are part of this category. There are three types of moderate or strong opioid analgesics: sustained-release opioids (SROs or extended-release opioids), immediate-release opioids (IROs), and long-acting opioids (LAOs).

Due to their effectiveness and convenience, opioid analgesics are well-suited for pain management and palliative care. In response, manufacturers are investing in research and development to create milder and less addictive opioid drugs, aiming to enhance their product portfolios. This trend signifies significant growth opportunities in the market for key opioid analgesics manufacturers.

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Market Dynamics

Rising Demand for Post-surgery Pain Relief, and a Surge in Healthcare Spending

The anticipated growth in the opioid analgesic market is attributed to an increasing demand for post-surgery pain management and advancements in drug formulations aimed at minimizing analgesic side effects. Additionally, the surging prevalence of chronic pain and orthopedic ailments among the aging population is a key driver propelling the opioid analgesics industry forward. According to a recent review of Global Burden of Disease (GBD) 2019 data, a substantial 1.71 billion individuals worldwide are affected by musculoskeletal disorders, encompassing conditions like rheumatoid arthritis, osteoarthritis, low back pain, neck discomfort, fractures, and other injuries.

Furthermore, the market is expected to benefit from the growing disposable income and increased healthcare expenditure. Opioids, recognized for their effectiveness in pain relief, are widely utilized in chronic pain management practices globally. The expected rise in the incidence of conditions such as cancer, orthopedic ailments, and neuropathic pain is projected to contribute to the escalating demand for opioid analgesics.

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Market Restraints

Increasing Prevalence of Opioid Addiction

Global market growth faces primary constraints due to the unavailability of opioids in emerging markets and the associated side effects of these drugs. Additionally, the increasing incidence of opioid abuse and misuse presents a significant hindrance to global market expansion. Moreover, chronic side effects associated with opioid use present a substantial barrier to market growth. The heightened abuse of addictive opioids has led physicians to reduce their prescriptions for pain management, resulting in a decline in global sales. The growing prevalence of opioid abuse is anticipated to impede market growth further, as healthcare practitioners exhibit reluctance in prescribing opioids as pain relievers.

Evolution of Regulatory Framework in the Pharmaceutical Industry

Medical device manufacturers are currently navigating an exceptionally unpredictable regulatory landscape. Between 2005 and 2010, the average processing time for approving a 510(k) application witnessed a notable 43% increase. Additionally, the duration to secure premarket approval experienced a significant rise of 75%.

The US FDA has mandated that surgeons carry out operations with the utmost clinical care and ensure the optimal effectiveness of the surgical product. This regulatory environment heightens the risk for products, particularly when companies face financial constraints preventing them from conducting additional studies to meet the FDA's additional data requirements. These approval delays, coupled with regulatory reforms about the use of analgesics, also pose a challenge to the market growth.

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Opportunities

Managing Pain and the Increasing Progress in Personalized Medicine

The demand for opioid analgesics is on the rise among patients seeking relief from various pain and medical conditions. The increasing aging population and the prevalence of chronic pain conditions contribute to the growing adoption of opioid analgesics. Opioid analgesics are commonly utilized in managing chronic pain conditions, including neuropathic pain, back pain, and osteoarthritis. The utilization of opioid analgesics is facilitated through pain management therapies and improved delivery methods designed to address these conditions. The heightened focus on developing abuse-deterrent formulations is further driving the demand for opioid analgesics. Major companies in the industry are actively investing in research and development to provide safer alternatives in response to this demand.

Analyst’s Viewpoint

The opioid analgesics market is anticipated to undergo substantial expansion and change. Companies within the analgesics industry are increasingly utilizing acquisitions as a strategy for growth. Major manufacturers of analgesic medicines are acquiring smaller businesses to gain a competitive edge and strengthen their position in the industry. These acquisitions not only facilitate regional expansion but also provide access to specialized expertise in new product research and development. The field of molecular neurobiology has witnessed significant advancements, leading to a continuous stream of potential targets. Phenotyping transgenic mice in pain and inflammation checks serves as a method for early target validation, although the adoption of such targets involves high risk. The identification of receptor or ion channel targets exhibiting phenotypic changes related to the pathophysiology of human pain holds the potential to offer treatments for pain syndromes resistant to existing analgesics. This presents ample growth opportunities for market players in the coming years.

Supply-side Dynamics

Several factors, including Soaring demand for post-surgery pain management and advancements in drug formulations to reduce analgesic side effects, all contribute to the dynamic and rapid expansion of the global Opioid Analgesics market. Pfizer Inc., Abbott Laboratories, Janssen Pharmaceuticals, Inc. [Johnson & Johnson], Novartis AG, and Bayer AG are market leaders in the medical sector. The countries of Germany, Japan, China, France, and the US are significant producers of various goods. The sales of opioid analgesics in Germany are propelled by factors such as the adoption of opioid maintenance treatment (OMT) for managing opioid dependence (OD), a growing preference for non-abusive opioids, and the presence of favourable reimbursement programs established by German regulatory bodies, particularly in the context of promoting awareness of palliative care.

Several corporations are allocating resources toward expanding their capacity to satisfy the increasing need to develop innovative and high-quality products. It is anticipated that these expansions will substantially alter the dynamics of the market, resulting in heightened competition, reduced prices, and an influx of innovative products.

Market Segmentation

Which of the Drug Classes Contributes the Largest Share?

Oxycodone Sales Dominant Through 2030

Oxycodone stands out as one of the most potent pain relievers available on the market. This medication effectively alleviates pain, enabling patients to engage in their daily activities. In the past, the limited understanding of its components and the high cost of the drug hindered the widespread use of oxycodone. However, the increasing awareness of its advantages, such as heightened bioavailability, is fostering a greater acceptance and utilization of the drug.

Which Indicator Will Installations Prioritize the Most?

Surgical Pain Dominates Due to Rising Surgical Procedures

With the increase in surgical procedures and the occurrence of post-operative pain, the demand for the treatment of surgical pain is anticipated to rise. Opioid analgesics prove to be an effective solution for managing pain after surgery or other medical procedures. The forecast period is expected to witness a surge in the adoption of pain management medications, driving the demand for opioid analgesics.

Which is the Most Preferred Administration Route?

Oral Analgesic Delivery Most Preferred

The major share of revenue in the global analgesics market is attributed to the oral category. The continued growth of this segment is attributed to the convenient, non-invasive, and efficient delivery of oral analgesics compared to other administration methods.

Which is the End User Category?

Hospitals Spearhead in Terms of Adoption

Hospitals, being prominent healthcare facilities equipped with highly trained staff and professionals, play a crucial role in facilitating effective patient treatment. The endorsement and implementation of prescribed therapy within clinics and hospitals contribute to physician-supervised drug delivery. This stands out as a key factor propelling the sales of opioid analgesics through hospital pharmacies.

Top Regional Markets

North America Retains Leadership

The North American market is propelled by the expanding healthcare infrastructure and the increasing healthcare expenditure. The US, with its advanced medical facilities, well-established pharmaceutical industry, and a strong focus on pain management, provides a conducive environment for the development, manufacturing, and distribution of analgesic products. The US healthcare spending experienced a 4.1% growth, reaching $4.5 trillion in 2022, which is faster than the 3.2% increase in 2021 but considerably slower than the 10.6% rate in 2020. In 2022, the insured population reached a historic high of 92%. The prevalence of chronic pain conditions in the region further contributes to the market's growth. Chronic pain, affecting millions across North America, including conditions like chronic lower back pain, osteoarthritis, and neuropathic pain, generates a consistent demand for medications and treatments, thereby propelling market growth.

Opportunities Flock Asia Pacific

The Asia Pacific region is poised for a consistent growth trajectory in the analgesics market, primarily driven by the increasing incidence of arthritis, various bone-related conditions, and diabetic neuropathy contributing to pain. An examination of arthritis tests conducted in laboratories, such as SRL Diagnostics, reveals over 180 million cases of arthritis in India alone, surpassing the prevalence of many other well-known diseases, including diabetes, AIDS, and cancer. Approximately 14% of Indians seek medical attention for this joint condition annually. Additionally, the rising occurrence of fever has led to an increased use of paracetamol, further fuelling the growth of the analgesics market.

Competitive Intelligence and Business Strategy

Prominent organizations, including Pfizer Inc., Abbott Laboratories, and Janssen Pharmaceuticals, Inc. [Johnson & Johnson], are at the vanguard of this sector, providing inventive solutions by capitalizing on their technological prowess and vast experience in the Medical industry. Major players in the market are adopting various strategies to fortify their positions and remain competitive in this dynamic industry. These strategic initiatives are shaped by the necessity to cater to evolving consumer preferences, navigate regulatory changes, and stay aligned with market trends. Considerable resources are being directed towards research and development (R&D) efforts, aiming to introduce new drugs and formulations that provide enhanced pain relief, minimize side effects, and improve patient compliance. There is also a dedicated focus on exploring non-opioid alternatives to address concerns related to opioid addiction and misuse. Additionally, companies are broadening their product portfolios through acquisitions or partnerships with smaller firms specializing in complementary pain management solutions. This approach enables them to offer a more extensive range of medications, encompassing both over-the-counter (OTC) and prescription medications, as well as topical creams and medical devices.

To distinguish themselves in this highly competitive market, these businesses strive to differentiate their products. They achieve this by providing distinctive attributes such as advanced formulations, innovative delivery methods, enhanced safety features, and a focus on minimizing addictive potential.

Key Recent Developments

New Product Launch

The FDA revealed that the Prescription Drug User Fee Act (PDUFA) might be implemented on December 1st, 2019, at Veritas Pharma Inc. In 2020, Daiichi Sankyo announced its intention to partner with Ultragenyx Pharmaceutical to advance research.

Market Impact: The Opioid Analgesics Market is expected to be driven by the FDA's implementation of the Prescription Drug User Fee Act (PDUFA) and Daiichi Sankyo and Ultragenyx Pharmaceutical's joint venture in 2020. These achievements include strategic partnerships and regulatory advances that can help expand the market by easing the approval and development of opioid analgesic medications.

Opioid Analgesics Market Report Scope

Attribute

Details

Forecast Period

2023 to 2030

Historical Data Available for

2018 to 2022

Market Analysis

US$ Million for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • South Asia & Pacific
  • East Asia
  • The Middle East & Africa

Key Countries Covered

  • United States
  • Canada
  • Germany
  • United Kingdom
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • Australia
  • New Zealand
  • GCC Countries
  • South Africa

Key Market Segments Covered

  • Drug Class
  • Indication
  • Route of Administration
  • End User
  • Region

Key Companies Profiled

  • Pfizer Inc.
  • Abbott Laboratories
  • Janssen Pharmaceuticals, Inc. [Johnson & Johnson]
  • Novartis AG
  • Bayer AG
  • GlaxoSmithKline plc
  • F. Hoffmann-La Roche AG,
  • Boehringer Ingelheim International GmbH
  • Bausch Health Companies Inc.
  • Sanofi S.A.
  • Teva Pharmaceuticals
  • AbbVie Inc. (Allergan plc)
  • Purdue Pharmaceuticals L.P.
  • Sun Pharmaceutical Industries Ltd.
  • Mallinckrodt Pharmaceuticals
  • Endo Pharmaceuticals Inc. [Endo International plc]
  • Assertio Therapeutics, Inc. [Assertio Holdings, Inc.]

Report Coverage

  • Market Forecast
  • Company Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

Available upon request

Opioid Analgesics Market Research Segmentation

By Drug Class:

  • Morphine
  • Codeine
  • Fentanyl
  • Meperidine
  • Methadone
  • Tramadol
  • Oxycodone
  • Dextromethorphan
  • Buprenorphine
  • Others

By Indication:

  • Surgical Pain
  • Cancer Pain
  • Neuropathic Pain
  • Other

By Route of Administration:

  • Oral
  • Parenteral
  • Transdermal
  • Other

By End-User:

  • Hospitals
  • Retail Pharmacies
  • Drug Stores
  • Online Pharmacies

By Region:

  • North America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Latin America
  • Middle East & Africa

- Companies Covered in This Report -

  • Pfizer Inc.
  • Abbott Laboratories
  • Janssen Pharmaceuticals, Inc. [Johnson & Johnson]
  • Novartis AG
  • Bayer AG
  • GlaxoSmithKline plc
  • F. Hoffmann-La Roche AG,
  • Boehringer Ingelheim International GmbH
  • Bausch Health Companies Inc.
  • Sanofi S.A.
  • Teva Pharmaceuticals
  • AbbVie Inc. (Allergan plc)
  • Purdue Pharmaceuticals L.P.
  • Sun Pharmaceutical Industries Ltd.
  • Mallinckrodt Pharmaceuticals
  • Endo Pharmaceuticals Inc. [Endo International plc]
  • Assertio Therapeutics, Inc. [Assertio Holdings, Inc.]

 

- Frequently Asked Questions -

The market is anticipated to grow at a CAGR of 5.0% during the projected period.

The opioid analgesics market was valued at US$43 billion in 2023.

The US held the largest market share in 2023.

The prominent players in the market are Pfizer Inc., Abbott Laboratories, Janssen Pharmaceuticals, Inc. [Johnson & Johnson], Novartis Ag, and Bayer Ag.

The oxycodone segment is expected to grow at the fastest rate during the forecast period.

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