Opioids are the class of drugs that include illicit drugs such as ******, codeine, fentanyl, meperidine, methadone, morphine, hydrocodone, diphenoxylate, hydromorphone, methylphenidate, oxycodone, and oxymorphone. Opioids are prescribed for pain management and treatment of cough and diarrhea. According to the survey conducted by Center for Behavioral Health Statistics and Quality (CBHSQ), in 2015, out of 20.5 million around 2 million (10%) Americans of 12 years age or older, which had a substance use disorder were on pain relievers and around 591,000 were on ******.
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According to the National Institutes of Health (NIH) estimates, in 2015 by the American Pain Society, nearly 50 million people in the U.S. suffered from chronic pain. Use of opioids in cancer, orthopedic, neuropathic, post-operative pain, and lower back pain is very effective. With growing incidence of chronic pain demand for opioids is also expected to increase consequently. Moreover, opioid overdose or abuse has fueled the growth of the U.S. opioids market. CVS Health’s, leading pharmacy chain, reports that company had been often asked to fill the prescription of 30 to 60 of the powerful pills at a time for conditions that required a much more limited amount.
However, in near future, the overuse or abuse is expected to come down significantly with deceleration of opioids a public health emergency in October 2017 by U.S government. The pharmacy chain, insurance companies, doctors, and all professionals related (directly or indirectly) to this crisis are being monitored closely and had been asked to co-operate to end this epidemic. This strict government intervention are restraining the growth of the U.S. opioids market.
Increasing incidences of chronic pain is expected to drive growth of the U.S. opioids market
According to the American Academy of Pain Medicine (AAPM), 2011, around 1.8 billion people suffered from chronic pain. Moreover, according to the National Institute of Health (NIH) estimates in 2015, one in 10 people in the U.S. suffered from chronic pain. Increasing prevalence of chronic pain is expected to result in high prescription of opioids pain relievers, which in turn is expected to fuel the market growth. Easy availability and favorable insurance policy are other major drivers for growth of the U.S. opioids market.
The analysis of Medicare prescription drug plans, which covers 35.7 million people in the second quarter of 2017, by ProPublica — an investigative journal and The New York Times — a leading U.S. newspaper, revealed that only one-third of the covered people had any access to other types of pain killer and less-risky opioids. This was attributed to low cost of opioids drugs. The scenario might change, however, due to strict monitoring from government and regulatory bodies.
Key companies covered as a part of this study include Purdue Pharma L.P., Titan Pharmaceuticals, Inc., Boehringer Ingelheim GmbH, Janssen Pharmaceuticals, Inc., Sanofi S.A., Sun Pharmaceuticals Industries Limited, Mallinckrodt Pharmaceuticals, Egalet Corporation, Endo Pharmaceuticals plc, Allergan, Plc., and Pfizer Inc.
Opioids Market, By Drugs
Opioids Market, By Therapeutic Application:
- Neuropathic Pain
- Back Pain
- Osteoarthritis Pain
- Cancer Pain
- Cough Treatment
- Diarrhea Treatment
- Pain Management
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