North America Opioid Market is Expected to Show a Significant Growth During the Forecast Period 2021 – 2024

Posted on 2021-08-03 by researchinsights in Healthcare // 0 Comments

San Jose, California , USA, Aug 03, 2021 — /EPR Network/ —

The North America Opioid Market is expected to value at USD 18.5 billion by 2024. The North America opioid industry is subject to witness a substantial growth due to the rising geriatric population and growing focus towards palliative care for patient across the globe. Application of the opioid varies from analgesics drugs to cough suppressants and as anti-diarrheal medicines.

In addition, increasing number of activities such as acquisitions and collaborations by industry participants is anticipated to fuel market demand for opioid medicines, particularly in North America region. The North America opioid market is predicted to grow at CAGR of 4.6% in the forecast period, providing numerous opportunities for market players to invest for research and development in the market.

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Growing occurrence of incidences related to excessive use of opioid medication due to their unique set of properties, particularly influential in palliative care, is expected to drive their sales output. Furthermore, factors positively affecting market performance of opioid industry in North America region include rising penetration of generics technology and increasing healthcare expenditure levels by local governments.

Moreover, higher approval rate from local authorities such as The Food and Drug Administration (FDA) coupled with the availability of a strong drug pipelines are excepted to boost market growth over the forecast period. Availability improved, efficacious drugs and cost-effective drug delivery system are estimated to foster the growth of North America opioid industry over the next seven years.

Pain relief medicines, which are gaining popularity in the pharmaceutical & medicine sector, use non-opioid, Nonsteroidal Anti-Inflammatory Drugs (NSAIDs).These drugs does not carry the risk of developing drug dependency. However, regular use of these drugs for pain relief leads to ceiling effect in patients, thus restraining market growth to a certain extent. Yet, development novel drugs such as buprenorphine, fentanyl, and morphine for pain management are predicted to stimulate market demand over the next seven years.

The key players in the North America opioid market are Purdue Pharma L.P., Allergan plc (Actavis), Pfizer, Inc., Janssen Pharmaceuticals, Inc., and Egalet Co.

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Table of Content

Chapter 1 Research Methodology

Chapter 2 Executive Summary

Chapter 3 Market Snapshot

Chapter 4 Market Variables, Trends & Scope

Chapter 5 Market Categorization 1: Product Estimates & Trend Analysis

Chapter 6 Market Categorization 2: Application Estimates & Trend Analysis

Chapter 7 Market Categorization 3: Regional Estimates & Trend Analysis, by Product & Application

Chapter 8 Competitive Landscape

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