January 07, 2022
According to the research report titled ‘Global Opioid Analgesics Market Size study, by Drug Class (Morphine, Codeine, Fentanyl, Meperidine, Methadone, Tramadol, Oxycodone, Dextromethorphan, Buprenorphine, Others), By Indication (Surgical Pain, Cancer Pain, Neuropathic Pain, Other), By Route of Administration (Oral, Parenteral, Transdermal, Other), By End User (Hospitals, Retail Pharmacies, Drug Stores, Online Pharmacies) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global opioid analgesics market is projected to record significant gains during the forecast timespan 2021-2027.
Extensive usage of the product for chronic pain management and rising prevalence of cancer, orthopedic ailments, neuropathic pain, and other chronic pain among the elderly population are primarily driving the global opioid analgesics market growth. Expanding healthcare expenditure coupled with increasing disposable income is slated to support the market expansion in the forthcoming years.
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Additionally, rising popularity of personalized medicine is expected to enhance the industry outlook in future. Despite the positive prospects, stringent restrictions regarding opioid sales in order to minimize the risk of addiction and overdose might hamper the market progress over 2021-2027.
The market is segmented on the basis of drug class (morphine, codeine, fentanyl, meperidine, methadone, tramadol, oxycodone, buprenorphine, dextromethorphan, others), indication (cancer pain, surgical pain, neuropathic pain, other), route of administration (oral, transdermal, parenteral, other), and end user (hospitals, online pharmacies, retail pharmacies, drug stores).
From a regional perspective, worldwide endoscopes market size is fragmented into across North America (U.S., Canada), Europe (UK, Germany, Spain, France, Italy, ROE), Asia Pacific (Japan, China, South Korea, India, Australia, RoAPAC), and Latin America (Mexico and Brazil).
Among the listed regions, North America market is predicted to grow substantially during the study duration, primarily due to high prevalence of chronic illnesses and widespread usage of opioids as a pain reliever.
Meanwhile, opioid analgesics industry size in Asia-Pacific will develop rapidly owing to rising intake of the product for pain management.
Considering the competitive landscape, Sanofi SA, Bausch Health Co. Inc., C.H. Boehringer Sohn AG & Ko. KG, F. Hoffmann-La Roche AG, GlaxoSmithKline plc, Bayer AG, Novartis International AG, Janssen Pharmaceuticals Inc. (Johnson & Johnson), Abbott Laboratories, and Pfizer Inc. are among the major companies shaping the global endoscopes market growth curve.