18th February 2020 – The North
America Opioid Market report provides in-depth analysis and insights
into developments impacting businesses and enterprises on global and regional
level. The study covers the global North America Opioid Market presentation
regarding revenue contribution from multiple segments and covers a
comprehensive analysis of key market trends, drivers, restraints, and
opportunities influencing revenue growth of the industry. This research report
studies the market size, industry status and forecast, competition landscape
and growth opportunities.
The North America Opioid Market is
expected to value at USD 18.5 billion by 2024. The North America opioid
industry is subject to witness a substantial growth due to the rising geriatric
population and growing focus towards palliative care for patient across the
globe. Application of the opioid varies from analgesics drugs to cough
suppressants and as anti-diarrheal medicines.
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In addition, increasing number of
activities such as acquisitions and collaborations by industry participants is
anticipated to fuel market demand for opioid medicines, particularly in North
America region. The North America opioid market is predicted to grow at CAGR of
4.6% in the forecast period, providing numerous opportunities for market
players to invest for research and development in the market.
Growing occurrence of incidences related
to excessive use of opioid medication due to their unique set of properties,
particularly influential in palliative care, is expected to drive their sales
output. Furthermore, factors positively affecting market performance of opioid
industry in North America region include rising penetration of generics
technology and increasing healthcare expenditure levels by local governments.
Moreover, higher approval rate from
local authorities such as The Food and Drug Administration (FDA) coupled with
the availability of a strong drug pipelines are excepted to boost market growth
over the forecast period. Availability improved, efficacious drugs and
cost-effective drug delivery system are estimated to foster the growth of North
America opioid industry over the next seven years.
Pain relief medicines, which are gaining
popularity in the pharmaceutical & medicine sector, use non-opioid,
Nonsteroidal Anti-Inflammatory Drugs (NSAIDs).These drugs does not carry the
risk of developing drug dependency. However, regular use of these drugs for
pain relief leads to ceiling effect in patients, thus restraining market growth
to a certain extent. Yet, development novel drugs such as buprenorphine,
fentanyl, and morphine for pain management are predicted to stimulate market
demand over the next seven years.
North America opioid market is broadly
categorized into five major segments based on the application type such as pain
relief, anesthesia, cough suppression, diarrhea suppression and de-addiction.
The pain relief is considered as one of the fastest growing segment in the
North America opioid industry with substantial revenue generation in the last
few years. Growing popularity of opioid drugs in the pain relief segment is
attributed to the rising preference towards opioid drugs by healthcare
professional and higher market penetration. The cough suppression segment has
also witnessed substantial growth owing to the cost efficiency and easy
availability.
North America region has shown
exponential growth in opioid market in the last few years owing to the rise in
the implementation of latest technologies in pharmaceutical sector, increase in
the number of research & development activities in the region, and
existence of well-established healthcare infrastructure.
Some of the major objectives of this
report:
·
To present detailed analysis of
the market structure along with forecast of the various segments and
sub-segments of global North America Opioid Market.
·
To provide insights about
factors affecting the market growth. To analyze the North America Opioid Market
based on various factors- price analysis, supply chain analysis, porter five
force analysis etc.
·
To provide historical and
forecast revenue of the North America Opioid Market segments and sub-segments
with respect to four main geographies and their countries- North America,
Europe, Asia, and Rest of the World.
·
To provide country level
analysis of the market for segment by application, product type and
sub-segments.
·
Trace and analyze competitive
developments such as joint ventures, strategic alliances, mergers and acquisitions,
new product evolutions, and research and developments in the Market.
·
To present strategic profiling
of key players in the market, comprehensively analyzing their basic
capabilities.
Some
of the Major Market Players Are:
Purdue Pharma L.P., Allergan plc
(Actavis), Pfizer, Inc., Janssen Pharmaceuticals, Inc., and Egalet Co.
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