The U.S. opioids market is estimated to be valued at USD 7.06 Bn in 2024 and is expected to reach USD 9.10 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031.
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Various factors like increasing number of patients with chronic pain, growing geriatric population who are more prone to chronic conditions, and injuries are expected to drive greater uptake of prescription and over-the-counter pain medications. However, the outbreak of opioid crisis in the country is prompting regulatory reforms to curb non-medical use and misuse of highly addictive opioid drugs. Stricter rules for prescription practices and emphasis on non-opioid pain therapies is expected to moderately impact the revenues of prescription opioids market. Overall industry players are focusing on the development of pain medications with reduced abuse potential to continue meeting patients' medical needs going forward.
Increasing Incidence of Chronic Diseases
Increasing incidence of chronic diseases in the U.S. over the past few decades is expected to drive the market growth. Chronic diseases are characterized by their long-lasting nature and often require ongoing medical management. Heart disease, diabetes, obesity, hypertension, cancer, and chronic respiratory illnesses such as asthma and Chronic obstructive pulmonary disease (COPD) are most prevalent chronic diseases. These conditions collectively account for a staggering proportion of the U.S.’s healthcare burden. For instance, in December 2022, according to the data published by the Centers for Disease Control and Prevention, approximately 60% of adults in the U.S. are afflicted with at least one chronic disease, and a significant 40% of adults suffers from two or more chronic conditions. This prevalence underscores the profound impact of chronic diseases on the nation's health landscape. Chronic diseases stand as a primary cause of both mortality and disability, and these significantly contribute to the staggering annual healthcare expenditure of US$ 4.1 trillion in the U.S., thus making it a major driver of healthcare costs.
Increasing adoption of organic growth strategies, such as product launches by key market players, are expected to drive the market growth over the forecast period. For instance, in July 2022, Protega Pharmaceuticals LLC, a specialty pharmaceutical company that aims to advance solutions in the field of prescription drug abuse deterrence, announced the commercial launch of RoxyBond (oxycodone) immediate-release (IR) tablets in the U.S.
U.S. Opioids Market Report Snapshots
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