The U.S. opioids market is estimated to be valued at USD 7.06 Bn in 2024, growing at a CAGR of 3.7% over the forecast period (2024-2031). The market is witnessing steady growth owing to the growing patient population suffering from chronic pain conditions such as cancer, arthritis, etc. and increasing acceptance of opioids therapy for pain management.
Market Dynamics:
Rising prevalence of chronic diseases is a major driver expected to fuel the growth of the U.S. opioids market. Chronic diseases like cancer, arthritis, etc. often cause chronic pain and opioids are widely used to manage such pain. According to Centers for Disease Control and Prevention, in 2020, around 50 million adults in the U.S. reported suffering from chronic pain. Increased adoption of opioids therapy for chronic pain management by physicians as well as patients is also propelling the market growth. While opioids are considered highly effective for treating severe acute pain, their long-term use for chronic pain remains controversial. Still, growing research supporting use of opioids for chronic pain under appropriate clinical supervision and monitoring is contributing to wider acceptance.
Growing Demand for Pain Management Due to Aging Population
One of the key drivers of growth in the U.S. opioids market is the aging population and the growing need for pain management treatments. As the average age increases in the U.S., more people are suffering from chronic pain associated with conditions like arthritis, joint pain, and back pain. Opioid medications are commonly prescribed to treat moderate to severe chronic pain that does not respond to over-the-counter medications. The number of Americans over 65 is projected to grow from 52 million today to over 88 million by 2050. This demographic shift will expand the pool of patients seeking prescription opioids for long-term pain relief.
Increasing Acceptance of Opioids for Post-surgical Pain
Another driver is the increasing acceptance of prescription opioids for managing acute post-surgical pain. While opioids were traditionally reserved only for cancer pain and end-of-life care, they are now commonly prescribed after numerous surgical procedures from joint replacements to Caesarian sections. As more complex surgeries are performed, including bariatric, orthopedic and cardiovascular procedures, the demand for strong post-operative opioids is growing. Hospitals and physicians continue to rely on short-term opioids to manage immediate post-surgical pain, fueling sales in the U.S. opioids market.
Regulatory Scrutiny and Potential Overprescribing Restrictions
One restraint on the market is tighter regulations being implemented to curb opioid overprescribing and abuse. The ongoing opioid crisis has drawn significant governmental scrutiny of opioid manufacturers and prescribers. New prescribing guidelines have been introduced to limit initial prescription sizes and durations. State prescription drug monitoring programs are being enhanced to crack down on "doctor shopping." If additional regulatory restrictions are placed on the quantity and duration of opioid prescriptions, it could negatively impact prescriptions and sales over the long run.
Public and Political Backlash against Big Pharma
A related challenge is the public and political backlash against major opioid manufacturers. Several state attorneys general have sued the largest opioid producers alleging their role in fueling the crisis. Negative media coverage has linked companies to the addiction epidemic. Lawsuits and media spotlight could damage the public reputation of opioid brands and manufacturers. This social and political pressure introduces uncertainty that might make some doctors hesitant to prescribe certain opioid drugs. It may also reduce patient demand due to stigma surrounding certain manufacturer names.
Opportunity for Non-opioid Pain Therapies
One opportunity lies in developing and promoting non-opioid alternatives for pain. Given concerns over opioid abuse and addiction, physicians, payers, and patients are increasingly seeking safer non-opioid options. Developing and marketing new drugs that provide effective acute or chronic pain relief without abuse potential could allow companies to indirectly capture market share switching from opioids. By positioning new drugs as a safer first-line option, manufacturers may be able to establish brand loyalty before a patient ever has to use opioids.
*Link: https://www.coherentmarketinsights.com/market-insight/opioids-market-1048
Key Development
- In August 2023, Emergent BioSolutions Inc., a multinational specialty biopharmaceutical company, announced that the NARCAN Naloxone hydrochloride (HCl) Nasal Spray 4 mg was available on shelves nationwide in the U.S. and online in September 2023. NARCAN Nasal Spray, with the same safe and effective 4 mg formulation, device design, and original prescription dose, can reverse the effects of opioids including fentanyl. NARCAN Nasal Spray has a manufacturer’s suggested retail price (MSRP) of US$ 44.99 each carton, roughly US$ 22.50 per dose.
- In January 2023, Hikma Pharmaceuticals PLC, an international pharmaceutical company, announced the launch of Naloxone Hydrochloride Injection, USP, 2mg/2mL in prefilled syringe (PFS) form. The drug that was launched in the U.S. and can be used for the emergency treatment of a known or suspected opioid overdose. Hikma Pharmaceuticals PLC's portfolio of addiction therapy treatments includes a naloxone vial and KLOXXADO (naloxone HCl) nasal spray 8mg, as well as buprenorphine and methadone medication options to meet the urgent needs of U.S. patients and communities.
- In May 2021, Amphastar Pharmaceuticals, Inc., a bio-pharmaceutical company, announced that the Morphine Sulfate injection that is indicated for the management of severe pain had received Abbreviated New Drug Application (“ANDA”) from the U.S. Food and Drug Administration (FDA)
- In March 2021, the U.S. Food and Drug Administration approved Hydrocodone bitartrate (reference listed drug: Hysingla ER), the first U.S. Food Drug Administration approved generic opioid with an abuse-deterrent formulation (ADF)—meaning the product has properties that are expected to reduce, though not totally prevent, abuse of the drug when chewed and then taken orally or crushed and snorted or injected
- In December 2020, Camber Pharmaceuticals, a pharmaceutical company, announced the launch of Hydromorphone ER Tablets, a generic version of Exalgo, that is indicated for the management of pain
Key Players: Pfizer, Inc., Mallinckrodt Pharmaceuticals, Hikma Pharmaceuticals PLC , Mundipharma International, Boehringer Ingelheim International GmbH., Collegium Pharmaceutical, Sun Pharmaceutical Industries Ltd. , Jazz Pharmaceuticals, Inc., Curaleaf, Purdue Pharma L.P., Cresco Labs, Trulieve, Teva Pharmaceutical Industries Ltd., Green Thumb Industries, Trevena, Inc., Par Pharmaceutical , and Emergent BioSolutions Inc.
