Opioid Pain Therapeutics Market - Introduction

Opioids are therapeutics prescribed by physicians to individuals suffering from chronic pain. These therapeutics are used in the treatment of chronic headaches, backache, pain associated with cancer, and injury. Opioids molecule link with the receptors present on the nerve cells and effectively help in pain management. However, regular use of opioids can lead to addiction and have harmful effects on the individual. Opioids are often used to treat acute pulmonary edema associated with left ventricular failure. Major side effects of opioids are sleepiness, constipation, shallow breathing, slow heart rate, loss of consciousness, and nausea.Different types of opioids are prescribed for pain management such as codeine, fentanyl, hydrocodone, oxycodone, oxymorphone, and morphine. According to the American Society of Anesthesiologist report published in 2017, approximately 60% of millennials have experienced chronic pain.

The global opioid pain therapeutics market is driven by increase in patient population suffering from chronic pain, rise in sales of over-the-counter drugs, and surge in product development. However, increase in drug abuse, rise in opioid trafficking, and high risk of side effects are likely to be the major restraints of the global opioid pain management market during the forecast period.

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Opioid Pain Therapeutics Market – Competitive Landscape

Janssen Pharmaceutical

Janssen Pharmaceutical is headquartered in Titusville, New Jersey, U.S. In 1961 Janssen Pharmaceutical was integrated into Johnson & Johnson .Janssen Pharmaceutical is amongst the leading pharmaceutical companies in the U.S. The company product portfolio includes therapeutics for pulmonary hypertension, infectious diseases, pain management, cardiovascular & metabolism, and oncology.

Teva Pharmaceutical

Teva Pharmaceutical is one of the leading generic drug manufacturers in the world. The company produced more than 120 billion capsules and tablets during 2018.According to reports 1 out of 9 generic prescription in the U.S. are Teva Pharmaceutical products. The company has a well-established distribution network spread throughout the globe with operation in more than 60 countries.

Mylan N.V.

Mylan N.V. was established in1961 and is headquartered in Canonsburg, Pennsylvania, U.S. Mylan N.V., and its subsidiaries develop, manufactures, and market generic over the counter drugs along with branded-generic pharmaceutical products throughout  North America, Europe, and other parts of the globe. Mylan N.V. has well established strategic partnership and license agreements with some of the leading pharmaceutical manufacturer such as Pfizer Inc., Biocon Ltd., Kyowa Kirin Biologics Co. Ltd, and others

Perdue Pharma L.P.

Perdue Pharma L.P. was established in 1892 in Stamford, Connecticut, U.S. The company and its affiliates are engaged in production, development, and distribution of prescription and over-the-counter prescription and non-prescription medicines and healthcare products for individual suffering from chronic pain. Purdue Pharma L.P. was previously known as The Purdue Frederick Company which was later changed Purdue Pharma L.P. in January, 1991.

Some of the other key players operating in the global Opioid Pain Therapeutics Market with significant developments include Allergan, AbbVie, QRxpharma Limited, Daiichi Sankyo Company, Endo Pharmaceuticals and other prominent players.

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Opioid Pain Therapeutics Market – Dynamics

Increase in Patient population

Increase in patient population suffering from chronic pain, and growth of the pharmaceuticals industry coupled with growing demand are anticipated to drive the global opioid pain therapeutics market in the region during the forecast period. For instance, according to Centers for Disease Control and Prevention, nearly 20.4% adults (about 50 million) in the U.S. are suffering from chronic pain and 20 million have high impact chronic pain.

Technological advancement and new product lunch to drive the market

Increase in product launches, rise in strategic collaborations for expansion of business, and surge in demand are anticipated to drive the global opioid pain therapeutics market during the forecast period. For instance, in June 2018, Daiichi Sankyo Company, Limited launched Fentanyl Citrate Tape for treating moderate to severe pain caused by cancer. The product will be manufactured by Japan-based manufacturer Kyukyu Pharmaceutical Co., Ltd.

Asia Pacific is likely to present lucrative market opportunities

Asia Pacific is likely to present lucrative opportunities in the opioid pain therapeutics market during the forecast period. Increase in demand, rise in patient population, rapidly growing pharmaceutical industry in the developing countries in the region, and surge in the number of regional manufacturers are projected to drive the opioid pain therapeutics market in the region during the forecast period. Increase in government initiatives to regulate the use of opioids due to rise in drug abuse is anticipated to boost the growth of the global opioid pain therapeutics market in Asia Pacific.

Increase in drug abuse, along with rise in opioid trafficking is expected to hinder the market growth

Opioid therapeutics used for pain management are generally considered safe for use when taken for a short time as recommended by a physician, but in some cases they can be used for drug abuse as they produce elation in addition to pain relief. According to the National Institute of Drug Abuse it has been estimated that more than 130 individual in the U.S. die due to overdose of opioids. Therefore control the drug abuse of opioids many government organization are implementing stringent regulation for the sale of these drugs. Implementation of stringent regulation for the use of opioid is anticipated to affect the total sales opioid drugs as many physician would be reluctant in prescribing opioid even when it is medically applicable. For instance, in April 2019, China announced that it will consider all available variants of fentanyl opioid as controlled substances which is projected to slow down drug supply.

Opioid Pain Therapeutics Market – Segmentation

The Opioid Pain Therapeutics Market can be bifurcated on the basis of:

  • Drug Type
  • Route of Administration
  • Distribution Channel
  • Region

Opioid Pain Therapeutics Market Segmentation – By Drug Type

Depending on the drug type, the Opioid Pain Therapeutics Market can be divided into:

  • Codeine
  • Fentanyl
  • Hydrocodone
  • Oxycodone
  • Oxymorphone
  • Morphine

Opioid Pain Therapeutics Market Segmentation – By Route of Administration

On the basis of the route of administration, the Opioid Pain Therapeutics Market can be fragmented into:

  • Oral
  • Intravenous
  • Subcutaneous
  • Sublingual
  • Others

Opioid Pain Therapeutics Market Segmentation – By Distribution Channel

On the basis of the distribution channel, the Opioid Pain Therapeutics Market can be fragmented into:

  • Hospital Pharmacies
  • Retail Pharmacies
  • E-commerce

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Opioid Pain Therapeutics Market

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