Opioid Market To Rise At A 3.4% CAGR From 2024 To 2034 To Reach A Valuation Of US$ 63,472.6 Million Fact.MR

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Discover the complexities and trends within the opioids market. From evolving regulations to innovative pain relief solutions.

ROCKVILLE, MD, UNITED STATES, January 30, 2025 /EINPresswire / -- The global opioid market is estimated at US$ 45,645.8 million in 2024, projected to grow steadily with a 3.4% CAGR through 2034. The market is projected to account for a valuation of US$ 63,472.6 million by 2034. The increasing prevalence of chronic pain conditions worldwide continues to rise, prompting a sustained demand for effective pain management solutions.

The demographic shift towards an aging population contributes significantly to the demand for pain relief medications. Older individuals often experience conditions associated with chronic pain, fueling the need for pain management, including the use of opioids.

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Opioids are commonly prescribed for managing post-operative pain. As the number of surgical procedures grows globally, so does the demand for opioids during recovery periods. Opioids are widely accepted among healthcare professionals as a standard in pain management, leading to their continued use across various medical specialties.

Patients' growing emphasis on pain relief and their pursuit of enhanced quality of life propel the need for impactful pain management solutions, often resulting in heightened acceptance of opioids in cases where alternative remedies fall short. Medical practices are progressively inclining towards advanced pain management methodologies, such as utilizing opioids, particularly in scenarios involving moderate to severe pain where other options might demonstrate limited effectiveness.

The proliferation of awareness among healthcare providers regarding proper opioid use and its efficacy in pain relief further drives market growth. As understanding deepens regarding the appropriate prescription, administration, and monitoring of opioid therapy, their utilization in managing pain becomes more prevalent.

Key Takeaways from the Market Study

The North American opioid market is expected to grow at a CAGR of 3.0% through 2034. The opioid industry in the United States holds a dominant share of 91.5% in 2024. The United States dominates the global opioid market, valued at US$ 21,625 million in 2024.

The opioid industry in China is expected to rise at a CAGR of 3.3% through 2034. Based on application, the analgesia segment hold a 6.6% market share in 2024. The hospital pharmacies segment dominates the distribution channel with a 30.9% share in 2024.

"Continued Market Growth Expected as Aging Population and Chronic Pain Cases Drive Demand for Advanced Pain Management Solutions,” remarks an analyst at Fact.

Leading Players Driving Innovation in the Opioid Market:

Novo Nordisk A/S; Bayer AG; Endo International Plc; Janssen NV; Mithra Pharmaceuticals; Novartis AG; Pfizer Inc.; Allergen Plc; Merck KGaA; Teva Pharmaceuticals; Mylan N.V.

Competitive Landscape

Companies invest heavily in R&D to develop novel opioid formulations. They focus on creating medications with improved safety profiles, including abuse-deterrent formulations, extended-release options, and combination therapies to address pain more effectively while minimizing risks. Companies aim to broaden their market reach by expanding into new geographic regions through strategic product launches, partnerships, or acquisitions.

Cadila Healthcare Limited has been involved in manufacturing and supplying opioid medications, contributing to the availability of these medications for pain management in certain markets.

Fresenius Kabi has focused on developing and supplying various medications, including opioid-based products used in pain management and anesthesia, catering to hospital and healthcare settings.

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With its unwavering dedication to providing reliable market intelligence, FACT continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT ensures its clients receive actionable insights to capitalize on emerging opportunities and stay competitive.

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