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Opioids Market Will Reach Height of USD 34.96 billion By 2024

Global Opioids Market is anticipated to reach USD 34.96 billion by 2025. Opioids are the drugs that act on Nerve system to relieve pain. Opioids imply psychoactive compounds that can be made in laboratory or occur naturally. Opioids generally act as a pain reliever and it is safe when taken for the small duration of time; that too, as per doctor’s prescription. However, when opioids are taken in high quantity it leads to risk of mortality and dependence in patients. To treat severe and moderate pain opioids are mainly used.

In addition, the prevalence of disease situations with long-lasting pain, such as cancer, arthritis, fibromyalgia, and lower back pain is propelling the market. Significant increase in road accidents and trauma combined with repeatedly growing cases of surgical methods are driving the demand for opioid-based pain management solutions. On the other hand, legalization and emergence of cannabis as a substitute to opioids obstruct the development of the opioids market and it is anticipated to grow at a significant CAGR of 4.8% in the upcoming period as the scope, product types, and its applications are increasing across the globe.

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Opioids Market may be explored by Product Outlook, applications, by dosage forms, and geography. Opioids Market may be explored by Product Outlook as Immediate-Release/Short-Acting, could explored as (Codeine, Opioid, Oxycodone, Hydrocodone, Propoxyphene, Fentanyl, Hydroxymorphone, Morphine, Oxymorphone, Other IR), Extended-Release/Long-Acting Opioid could explore as (Methadone, Oxycodone, Fentanyl, Morphine, Oxymorphone, Hydromorphone, Tapentadol, Hydrocodone, Buprenorphine, Other ER).

The “Extended-release/Long-Acting Opioid” segment dominated the market in 2016 and is anticipated to maintain its dominance by 2025 due to factors such as growth of innovative dose distributers such as high usage of these constituents for chronic pain organization and transdermal patches. The profits share of immediate-release opioids, comprising morphine, codeine, oxymorphone, and hydromorphone, is anticipated to decline due to frequent product recalls, and severe adverse effects.

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Opioids Market may be explored by Applications as Pain Relief, (Cancer pain Low-back pain, Orthopedic, Fibromyalgia, Neuropathic pain, Postoperative pain management,), Cough Suppression, Deaddiction, Diarrhea Suppression, and Anesthesia. The “pain relief” segment dominated the market in 2016 and it is anticipated to maintain its dominance by 2025 due to factors such as growth of combination drug therapies that deliver improved synergistic outcome and are harmless. “Anesthesia” is anticipated to be the fastest rising segment throughout the upcoming period owing to factors such as high and safety drug effectiveness. The market may be explored by dosage forms as liquids, lozenges, transdermal patches, and pills.

North America accounted for the major share of the global Opioids Industry and will continue to rule the roost in the forecast period due to increasing aged populace with terminal circumstances such as rheumatoid arthritis. Moreover, growing acceptance of opioids for pain management related to injury and trauma in chronic and severe disabling diseases and in cases of postsurgical pain is propelling market development in North America. Furthermore, North America is followed by Asia-Pacific and it is anticipated to witness a highest development in the years to come.

Some of the key players that fuel the growth of the Opioids Market include Johnson & Johnson Services, Inc., Purdue Pharma, QRxpharma limited, Pfizer, Inc., Endo Pharmaceuticals Inc., Mylan N.V., and AbbVie Inc. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.