Global opioid analgesics market is projected to witness a CAGR of 4.03% during the forecast period 2024-2031, growing from USD 45.21 billion in 2023 to USD 62.02 billion in 2031. The market demand for opioid analgesic pharmaceutical products is anticipated to thrive in the forecast period for multimodal pain when non-opioid drugs or physical therapy is ineffective for treating chronic pain issues. The quick onset of action and high efficacy of various treatment options available in the market are increasing the demand for opioid analgesics.
Also, an increase in the prevalence of chronic pain conditions such as cancer, arthritis, and lower back pain, heart disease has led to an increase in demand for opioid analgesics in the market. Advancements in new formulations by resolving safety concerns around the use of opioids and abuse-deterrent formulation technology are boosting the growth of the market. Over the past few years, drug misuse has emerged as a major global health concern. The prescription of opioids for pain relief has increased substantially, and so has the rate of abuse for them. Controlling drug addiction and prescription opioid overdoses can be effectively managed using abuse-deterrent formations. The FDA is pushing for the development of abuse-deterrent formulations (ADFs) for prescription opioids in an effort to address the opioid abuse problem. The government acknowledges that while abuse-deterrent opioids are a step toward potentially less abusive medicines, they are neither abuse nor addiction-proof. For instance, In February 2024, Hikma Pharmaceuticals PLC announced the launch of Fentanyl Citrate Injection, USP 25mcg/0.5mL and 50mcg/mL. As noted by requirements, it is used for anesthesia periods, premedication, induction, and maintenance in the immediate postoperative period. The injection is also used as an adjunct to narcotic analgesia in general or regional anesthesia.
Increasing Prevalence of Cancer to Boost the Market
Chronic pain is present in 20% to 50% of cancer patients. About 80% of advanced-stage cancer patients have moderate to severe pain. One meta-analysis of pooled data from 52 studies found that more than half of the participants reported pain. Cancer pain and pain flares are more likely to occur in younger patients than older patients. Advances in understanding the biological mechanisms of cancer-related pain have led to better-targeted and more effective use of opioids. The global burden of cancer has grown recently, so research into finding new therapies and improving patient outcomes has increased. The increase in the incidence of cancer directly relates to a greater need for pain management strategies that are efficacious. The major driver for the opioid analgesic market is increased research and development initiatives being taken for the treatment of cancer. It is a reality that an increase in knowledge of cancer-related pain is substantially increasing the use of opioid analgesics for pain management. This trend underlines the role of pain relief in cancer care, highlighting a need for providers to balance opioid use with strategies for minimizing misuse and dependence, thus leading to safer and more effective patient care. Researchers are increasingly focusing on developing new therapies and evaluating their efficacy and safety.
Increasing Prevalence of Chronic Pain
The growth of the opioid market is driven by the increasing prevalence of chronic pain, which is affecting millions of individuals globally with the condition such as chronic conditions, including arthritis, fibromyalgia, and neuropathic pain, are increasingly becoming common, and patients are seeking effective pain management solutions to enhance their quality of life. With the increasing prevalence of chronic pain, coupled with an aging population more likely to suffer from this condition, healthcare providers turn to opioids as the first line of treatment. Continued research and development for opioid formulations is also being undertaken to optimize their efficacy with minimal side effects, therefore fueling additional growth in the market. The ongoing development of opioid formulations continues toward improved efficacy but with reduced potential side effects and related dependency risks. These advances address the dual considerations of efficacy and safety in pain relief, patients and providers towards the management of chronic pain with opioids as part of treatment.
In August 2022, Adalvo Limited announced that the company had acquired its first branded product, Onsolis, after finalizing a deal with a leading US-based specialty pharmaceutical company. The brand is an opioid analgesic used in the management of persistent breakthrough pain in cancer patients who are already receiving and tolerant to opioid therapy for their underlying cancer pain. The ongoing development of opioid formulations continues toward improved efficacy but with reduced potential side effects and related dependency risks. These advances address the dual considerations of efficacy and safety in pain relief, nudging patients and providers toward the management of chronic pain with opioids as part of treatment.
Codeine Segment to Dominate the Opioid Analgesics Market
The codeine market is likely to lead in the opioid analgesics market in view of its widespread use and application in clinical conditions for pain management. Codeine is a naturally occurring opioid and is most often preferred as an alternative due to its effective analgesic properties along with relatively lower severity of side effects compared with stronger opioids, making it a popular medicine for the treatment of mild to moderate pain, especially in outpatient settings. In addition, the availability of codeine in several formulations involving combination products with acetaminophen or aspirin makes it more attractive to prescribers and patients. The increasing prevalence of chronic pain disorders and the demand for better pain relief interventions will keep supporting this segment. Continued studies and development of codeine as the best therapeutic agent ensure that the opioid analgesics market will be dominated by codeine. There are several studies that are currently undergoing on Codeine, for instance, the National Superiority Clinical Trial to assess the combination of fixed dosage of Dipyrone and Codeine comparing the isolated use of components in the control of moderate to severe pain after open pelvic-abdominal surgery.
North America Dominates the Opioid Analgesics Market
North America dominates the opioid analgesics markets due to the high prevalence of chronic pain, neuropathic pain, and postoperative surgical pain. Chronic pain is a condition that affects the daily life of many adults in the United States. According to the Centers for Disease Control and Prevention (CDC), almost 21% of the U.S. population, i.e., 51.6 million adults’ population, is affected by chronic pain, and 6.9% (17.1 million people) experienced severe chronic pain (i.e., chronic pain that causes significant limitation of daily activities), with a higher prevalence among non-Hispanic American Indians or Alaskans. According to CDC reports that analyzed data from the National Health Interview Survey, chronic pain lasts for at least three months and usually affects the ability to function and work. In contrast, high-impact chronic pain occurs when chronic pain significantly reduces the activities of daily living. Chronic pain is a major public health problem in the United States. The healthcare cost of chronic pain in America is estimated at USD 635 billion per year, according to a JAMA Network Open article.
Future Market Scenario (2024-2031F)
In the opioid analgesic market over the past 10 years, considerable fluctuations have been observed mainly due to the increase in opioid crisis and regulatory control. Nevertheless, future scenarios will be formed through the development of healthcare practice, regulating the framework and achievements in pain management. Pharmaceutical companies are investing in developing abuse-deterrent formulations. These innovations can restore trust between doctors and patients and increase market acceptance. The opioid analgesics market is expected to remain stable, with growth potential in certain areas due to innovation and a growing understanding of pain management. Companies that focus on developing safer opioid formulations and alternative pain management solutions are likely to see growth, which is anticipated to drive the opioid analgesics market. Collaboration with regulators and healthcare providers is key to shaping a responsible future for the opioid analgesics market.
Report Scope
“Opioid Analgesics Market Assessment, Opportunities and Forecast, 2017-2031F”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of global Opioid analgesics market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.
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