Global Opioids Market Size to Grow by a CAGR of ~4% During 2022 – 2031 On The Back of Increasing Cases of Cancer

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The market in the North America region is estimated to witness noteworthy growth over the forecast period on the back of a surging number of cancer patients.

Research Nester published a report titled Opioids Market: Global Demand Analysis Opportunity Outlook 2031” which delivers a detailed overview of the global opioids market in terms of market segmentation by product type, application, receptor binding, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, and supply and demand risk, along with a detailed discussion of current and future market trends that are associated with the growth of the market.

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The global opioids market is estimated to garner a CAGR of ~4% over the forecast period, i.e., 2022 – 2031. The market is segmented by application into pain management, cough management, and diarrhea treatment. Out of these, the pain management sub-segment is estimated to grow significantly during the forecast period. As the number of cases of cancer is increasing worldwide, the demand for opioids is also increasing, as opioids are used for chronic pain relief. On account of this, the segment is expected to grow during the forecast period.

The global opioids market is expected to grow during the forecast period on the back of rising cases of cancer and diarrhea. Opioids are very efficient for treating excruciating pain in cancer patients. Furthermore, opioids are also used for the treatment of diarrhea patients. The World Health Organization states that there are nearly 1.7 billion cases of childhood diarrhea each year. On the back of such factors, the global opioids market is expected to grow over the forecast period.

Regionally, the global opioids market region is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East Africa region. The market in North America region is estimated to witness significant growth over the forecast period owing to the presence of a well-established healthcare infrastructure. Europe is the second region that is expected to offer large opportunities for growth in the global opioids market during the forecast period on account of flexible government guidelines and the growing geriatric population.  

The research is global in nature and covers a detailed analysis of the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook, etc. have also been covered and displayed in the research report.

Surging Cases of Cancer across the World to Boost the Growth of the Opioids Market

The data released by World Cancer Research Fund International states that there were 18.1 million cancer cases in the year 2020.

The growing cases of cancer and diarrhea are expected to boost the global opioids market growth during the forecast period. Furthermore, opioids are widely used to treat acute pain, which is estimated to promote the growth of the market. Further, opioids are widely used in the practice as systemic and spinal analgesia, supplementation of general anaesthetic agents, and primary anaesthetic. On the back of the multiple clinical uses of opioids, the global opioids market is expected to grow over the forecast period.  

However, stringent regulatory policies are expected to operate as a key restraint to the growth of the global opioids market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global opioids market which includes company profiling of Teva Pharmaceuticals Industries Ltd., Purdue Pharma L.P, AstraZeneca plc, Boehringer Ingelheim International GmbH, Mallinckrodt Plc, Sanofi Aventis Groupe, Pfizer Inc., Sun Pharmaceutical Industries Ltd., Hikma Pharmaceuticals PLC, and Amneal Pharmaceuticals LLC. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global opioids market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.     

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