May 22, 2024

Opioids Agonist Drugs Market High Growth Opportunities, Emerging Trends, Industry Review, Forecast Till 2031

Pharmaceuticals

Opioids agonist drugs have gained substantial acceptance in managing chronic and acute pain conditions afflicting millions globally. These drugs mimick the effect of endogenous opioid peptides in modulating pain signal transmission along neural circuits. Key opioid agonist drugs such as morphine, oxycodone, hydrocodone, codeine, and fentanyl are extensively utilized owing to their high potency and duration of pain relief. Their mechanism of activating mu, delta, and kappa opioid receptors effectively counteracts nociceptive signaling at the spinal cord and brain level.

The global Opioids Agonist Drugs Market is estimated to be valued at US$ 32 Billion 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.

Get more insights on this topic: https://www.coherentmarketinsights.com/market-insight/opioids-market-135

Market key trends:

One of the major trends driving the opioids agonist drugs market growth is their increasing role in palliative care. Chronic non-cancer pain patients and cancer patients undergoing palliative end-of-life care rely significantly on long-acting opioids to relieve pain. Given their high efficacy, oral and transdermal formulations of morphine, fentanyl, oxycodone, and methadone allow clinicians to adequately titrate dosages for satisfactory pain control in palliative settings. This minimizes breakthrough pain episodes. Additionally, the persistent synergy between palliative care specialists and pain physicians has optimized integration of pharmacological and non-pharmacological approaches, ensuring improved quality of life for patients through the disease trajectory.

Porter’s Analysis

Threat of new entrants: The threat of new entrants in the opioids agonist drugs market is moderate. High capital requirements for R&D and manufacturing pose entry barriers. However, availability of generic versions increases threat.
Bargaining power of buyers: The bargaining power of buyers is high given the availability of generic substitutes and concentration of demand from large healthcare buyers. Buyers can negotiate on price and exert pressure.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many raw material suppliers and formulation technology providers. Suppliers of active pharmaceutical ingredients however wield some power.
Threat of new substitutes: The threat of new substitutes is high as alternative drug delivery modes and non-opioid alternatives are emerging for pain management. Technology advances could reduce dependency on opioids.
Competitive rivalry: The opioids agonist drugs market sees intense competition among leading players. Players compete on drug delivery systems, dosage forms and indications to drive growth.

Key Takeaways

The global opioids agonist drugs market is expected to witness high growth over the forecast period supported by increasing prescription of opioids for chronic pain management.

Regional analysis: North America currently dominates the market supported by higher prescription rates and increasing prevalence of chronic pain conditions. However, Asia Pacific is expected to emerge as the fastest growing regional market owing to rising healthcare spending and access to care.

Key players: Key players operating in the opioids agonist drugs market are Purdue Pharma, Janssen Pharmaceuticals, Teva Pharmaceuticals, Endo International, Pfizer, Impax Laboratories. Players are focused on developing long acting and abuse deterrent formulations to strengthen their market position.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it