The most recent study conducted by Report Ocean, titled “Global Opioid Analgesics Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Opioid Analgesics. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Opioid Analgesics Market to reach $ billion by 2027.Global Opioid Analgesics Market is valued approximately $ billion in 2020 and is anticipated to grow with a healthy growth rate of more than $ over the forecast period 2021-2027. Opioids are well known as the most effective drugs for pain management. Their implementation in chronic pain management is a standard procedure in several countries across the world. Growing incidence of cancer, orthopedic diseases, neuropathic pain and chronic pain among the geriatric population serves as key driver for the market.
Request To Download Sample of This Strategic Report:- https://reportocean.com/industry-verticals/sample-request?report_id=bw4084
According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Increasing expenditure on healthcare and increasing disposable income are some other factors driving the Opioid Analgesics Market. Crocin, a medicine which is available in liquid as well as solid form is manufactured by leading analgesics GlaxoSmithKline Asia Private Limited (GSKAP). World Health Organization (WHO) recommends a three-level ladder approach to pain management, which includes the use of drugs with opioid contents.
According to Department of Health, about 40% of adults in New York State suffer from a chronic disease and 23% of the state’s hospitalization is due to chronic diseases. However, to avoid the chances of addiction and overuse, strict regulations are imposed on sales of opioids which may impede the growth of the market over the forecast period of 2021-2027. Also, the increase in popularity of personalized medicine is likely to increase the market growth during the forecast period.
The regional analysis of global Opioid Analgesics Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading region across the world in terms of market share owing to increasing chronic illnesses and growing consumption of opioids as a pain medication are expected to continue boosting sales of opioid analgesics. Whereas, Asia-Pacific is also anticipated to exhibit highest CAGR over the forecast period 2021-2027. Factors such as increasing utilization of high amounts of opioids for pain management would create lucrative growth prospects for the Opioid Analgesics Market across Asia-Pacific region.
Major market player included in this report are:
Pfizer Inc.
Abbott Laboratories
Janssen Pharmaceuticals, Inc. [Johnson & Johnson]
Novartis AG
Bayer AG
GlaxoSmithKline plc
Download Free Sample of This Strategic Report:-https://reportocean.com/industry-verticals/sample-request?report_id=bw4084
F. Hoffmann-La Roche AG,
Boehringer Ingelheim International GmbH
Bausch Health Companies Inc.
Sanofi S.A.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Drug Class
Morphine
Codeine
Fentanyl
Meperidine
Methadone
Tramadol
Oxycodone
Dextromethorphan
Buprenorphine
Others
By Ownership:
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
To Get More Business Strategies For Request Sample Report:- https://reportocean.com/industry-verticals/sample-request?report_id=bw4084
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
Request Full Report – https://reportocean.com/industry-verticals/sample-request?report_id=bw4084
About Report Ocean:
We are the best market research reports provider in the industry. Report Ocean is the world’s leading research company, known for its informative research reports. We are committed to providing our clients with both quantitative and qualitative research results. As a part of our global network and comprehensive industry coverage, we offer in-depth knowledge, allowing informed and strategic business conclusions to report. We utilize the most recent technology and analysis tools along with our own unique research models and years of expertise, which assist us to create necessary details and facts that exceed expectations.
Get in Touch with Us:
Report Ocean:
Email:sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, Illinois 60611 – UNITED STATES
Tel:+1888 212 3539 (US – TOLL FREE)
Website:https://reportocean.com