Opioids agonist drugs are a class of pain medications that help relieve moderate to severe pain. They work by binding to opioid receptors in the brain and central nervous system to alter pain perception and emotional response to pain. Some commonly used opioids agonist drugs include morphine, codeine, fentanyl, hydromorphone and oxycodone. They are highly effective for pain relief and widely prescribed for chronic pain associated with injuries, surgeries, cancer or other conditions. The opioids agonist drugs market is estimated to be valued at US$ 17,132.5 Mn in 2023 and is expected to exhibit a CAGR of 4.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising prevalence of chronic pain disorders like arthritis, low back pain and cancer pain is a key factor driving the demand for opioids agonist drugs. As per WHO data, around 1.5 billion people suffer from chronic pain globally. Moreover, increasing number of surgeries and accidents is also contributing to the growth of chronic pain patient population. Opioid drugs are recommended as first line treatment for moderate to severe pain. Growing geriatric population prone to musculoskeletal disorders is another growth promoter for this market. However, concerns around opioid addiction and abuse may hamper the market growth over the forecast period. Pharmaceutical companies are developing novel analgesic drugs as an alternative to traditional opioids to address this issue.
Porter’s Analysis
Threat of new entrants: The opioids agonist drugs market faces moderate threat of new entrants due to high R&D costs and patent protections for existing drugs. However, availability of generic opioids offers opportunities for small players.
Bargaining power of buyers: Buyers have moderate bargaining power due to presence of many manufacturers. However, usage of opioids for pain management gives buyers less negotiating power.
Bargaining power of suppliers: Suppliers have low bargaining power given fragmented nature of raw material suppliers and input availability from different sources globally.
Threat of new substitutes: Threat from new substitutes is low as opioids drugs are irreplaceable for pain management. However, non-opioid drugs are gaining popularity.
Competitive rivalry: High due to many global and local players competing on basis of patents, drug efficacy and diversified product portfolio.
SWOT Analysis
Strength: Wide acceptability of opioids for pain management. Established distribution channel and brand presence globally.
Weakness: Stringent regulations regarding opioids prescription and abuse potential. Side effects associated with prolonged usage.
Opportunity: Untapped growth potential in emerging markets. New pipeline drugs offering safer profiles and formulations.
Threats: Increasing non-opioid substitutes. Generic erosion once patents expires. Regulatory hurdles and litigation over addictive properties.
Key Takeaways
The global opioids agonist drugs market is expected to witness moderate growth, exhibiting CAGR of 4.2% over the forecast period, due to rising prevalence of chronic pain indications like cancer pain and arthritis and growing geriatric population prone to orthopedic conditions.
Regionally, North America dominated the global market in 2023 and is expected to maintain its lead over the forecast period as well due to availability of advanced healthcare facilities and prescription drug abuse epidemic in the US. Asia Pacific market is poised to witness fastest growth due to improving access to healthcare in major economies like India and China and growing medical tourism industry.
Key players operating in the opioids agonist drugs market are Advaxis, Inc., Cellectar Biosciences, Inc., OPKO Health, Inc., Pfizer Inc., Amgen Inc., Novartis AG, Eli Lilly and Company, Debiopharm Group, Merck & Co, Bayer AG, Bristol-Myers Squibb Company, Takeda Pharmaceutical, F. Hoffmann-La Roche Ltd and Teva Pharmaceutical. Major players are focusing on developing novel long-acting formulations,combinations and abuse-deterrent opioid drugs to consolidate their market share.
The worldwide opioids agonist drugs market size was esteemed at USD 1.9 billion out of 2018 and is expected to develop at a CAGR of 10.1% over the gauge period.
There are two sorts of patients experiencing OUD: patients who are dependent on non-clinical Opioids and patients dependent on clinical Opioidss.
A solitary factor can't be represented OUD, however, a blend of natural and hereditary elements impact the patient.
As indicated by the CDC, in 2016, around 2.1 million Americans had OUD.
The shift from Opioids maltreatment to Opioids fixation results from drug-initiated changes in the cerebrum.
The most regularly mishandled Opioids are oxycodone, codeine, hydrocodone, morphine, and fentanyl.
Opioids Agonist Drugs Market Comprehensive Study is an expert and top to bottom investigation on the momentum condition of the worldwide Global Opioids Agonist Drugs Market industry with an attention on the Global market.
By and large, the report gives an inside and out understanding of 2020-2025 worldwide Opioids Agonist Drugs Market covering extremely significant parameters.Brief Summary of Opioids Agonist Drugs:Over the past few years, there has been a significant rise in a number of people additives towards opioid agonist drugs overdoses in the United States every day with figure stood up to 115 death toll.
The opioids drugs is a type of narcotic pain medication that applicable for treatment of severe pain.
It is used as an anesthesia, cough suppressant, diarrhea suppressant and to reduce surgical pain.
Market Trends:Increasing Use of Methadone, Buprenorphine, and Extended-Release NaltrexoneGrowing Adoption of Opioids Drugs in Surgical Treatments and Pain Management Market Drivers:Upsurging Geriatric Population leading to Increased Prevalence of Cancer, Postsurgical Pain, Lower Back Pain, and Many OthersIncreasing Surgical Procedures and Technological Advancements Market Challenges:Legalization of Cannabis as Alternatives of Cannabis may challenge the Market of Opioids Drugs Market Restraints:Stringent Government Regulations on Manufacturing Opioids Agonist DrugsContinues Products Development and R has Introduced Number of Cheaper Substitutes This research report represents a 360-degree overview of the competitive landscape of the Global Opioids Agonist Drugs Market.
)North America (United States, Mexico & Canada)South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.
The Global Opioids Agonist Drugs Market delivers comprehensive data regarding development patterns, competitive landscape analysis, and key regions development status along with insightful predictions for the next few years.
Key parameters such as market size, growth rate, constraints, driving forces, market reach, current and future market inclinations, revenue projection calculation, and fascinating opportunities from 2020 to 2025 are identified by Global Opioids Agonist Drugs Market research.The study focuses on the world's leading players in the Opioids Agonist Drugs market, including information such as product image and specification, company profiling, capability, production, cost, price, revenue and contact information.
Along with this, the report includes a thorough analysis of PESTEL and Porter’s five forces where five external industry forces such as competitive rivalry, bargaining power of buyers, the threat of new entrants, bargaining power of suppliers, the threat of substitutes are studied.The industry experts at KD Market Insights are working to recognize, compile and provide evaluations on the effect of the COVID-19 tragedy on many businesses and their customers in a timely manner to assist them in making excellent business decisions.
The Global Opioids Agonist Drugs market report contains the implication of COVID-19 on the studied market along with effective strategies to survive in this situation.Access Sample Report @ https://www.kdmarketinsights.com/sample/5506The Following are the Key Features of Global Opioids Agonist Drugs Market Report:-Market Overview, Industry Development, Market Maturity, PESTLE Analysis, Value Chain Analysis-Growth Drivers and Barriers, Market Trends & Market Opportunities-Porter’s Five Forces Analysis & Trade Analysis-Market Forecast Analysis for 2020-2025-Market Segments by Geographies and Countries-Market Segment Trend and Forecast-Market Analysis and Recommendations-Price Analysis-Key Market Driving Factors-Opioids Agonist Drugs Analysis: Company Market Share & Market Positioning, Company Profiling, Recent Industry Developments etc.The report covers segmentation analysis of Opioids Agonist Drugs market for better understanding and provides in-depth information on market outlook.
Important segments have been developed and analyzed to facilitate sound business decisions.
This section reveals high-growth market segments and understands how the market will expand over the forecast period.Based on region, the global Opioids Agonist Drugs market is segmentedinto:- North America (U.S. & Canada)-Latin America (Brazil, Mexico, Rest of Latin America)- Asia Pacific (China, Japan, India, South Korea, Indonesia, Australia, New Zealand, Rest of Asia Pacific)- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)- Middle East and Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of the Middle East and Africa)Browse Complete Research Report with TOC @ https://www.kdmarketinsights.com/product/5506/opioids-agonist-drugs-marketKey Question answered:- What are the latest developments and potential areas of opportunity within the market for Opioids Agonist Drugs?- How are the present and potential prospects likely to be dispersed through key segments of the market?- Which is the most propitious region in the Global Opioids Agonist Drugs Market?- What are the main success factors used by sponsors for assessing potential service providers?- What are the initiatives undertaken by the major players involved in this field?Why Choose KD Market Insights?
