The Narcotic Analgesics Market shall be growing unabatedly in the future. The healthcare vertical is expected to go “personalized” in the next 10 years. Thus, genomics and genetics, along with the other biologic information, going personalized will help in early diagnosis of the disease and also how patients will respond to the treatments. Likewise, the healthcare vertical would be there to make greater strides in the forecast period.
The Narcotic Analgesics Market is expected to witness an escalation going forward. With health apps, biosensors, AI, VR, telehealth, robots, cloud computing, predictive analysis, and EHRs being rampantly used, there is nothing to hold the healthcare vertical from soaring high. The healthcare vertical, would, see its cash registers ringing on the count of digital IoT creeping in at a rapid pace.
The US center for Medicare and Medicaid services (CMS) on 1st January, 2019, implemented a new policy to prevent and combat opioid overuse along with limiting the prescription and dispensing of the narcotic analgesics.
With the introduction of various government initiatives and resolutions to control the addiction and abuse of opioids, which include the standardization of prescription for these drugs is creating ripples of transformation in the supply of narcotic analgesics globally.
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Abuse-Deterrent Opioid Analgesics: Tackling the Opioid Epidemic
To assist combat the opioid problem, the FDA is encouraging the development of prescription opioids containing abuse deterrent formulations (ADF). The agency notes that abusing deterrent opioids is not without risk of abuse or addiction, but it is a first step toward products that can help reduce abuse. The FDA is continuously making efforts to understand the definitive impact of these products on the population.
The FDA has approved these opioids in accordance with FDA industry guidelines, with labels describing abuse deterrent properties: Abuse Deterrent Opioides-Evaluation and Labeling:
- OxyContin
- Hysingla Er
- Xtampza Er
- RoxyBond
U.S. And Canada: Narcotic Analgesics Demand Outlook
U.S. and Canada regional demand outlooks are estimated to be leading the global narcotic analgesics market. This is because of the extensive availability of various generic opioids and greater predisposition towards the post –operative pain management and palliative care services offered in this region.
Post-operative care and palliative care reimbursements are driving demand for narcotic analgesics in the United States. The reimbursement scenarios for wound care and wound care have also led to a sharp increase in the consumption of narcotic analgesics.
It is expected that supporting insurance policies for chemotherapy cycles and post-operative care in developing countries will eventually drive the global demand for narcotic analgesics.
Europe: Narcotic Analgesics Demand Outlook
The European region is expected to hold the second highest position in the global narcotic analgesics market during the forecast period. This dominant position of the region is fueled by the tolerant regulations made by the health regulatory bodies in this region.
Around 20% of the adults in Europe suffer from some kind of moderate to severe chronic pain. The patients opt for narcotic analgesics for the management of such type of pain. This is expected to be a key factor in the growth of this field in the region.
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Who are the key players in the Narcotic Analgesics industry?
The global narcotic analgesics market has numerous key players. Some of them are
- Purdue Pharma
- Pfizer Inc.
- Boehringer Ingelheim
- Janssen Pharmaceuticals Inc.
- Actavis Plc.
- Sanofi
- Mallinckrodt Pharmaceuticals
- Endo Pharmaceuticals Inc.
- Sun Pharmaceutical Industries Ltd
- Egalet
- Hikma Pharmaceuticals USA Inc.
- West-Ward Pharmaceuticals Corp.
- Vistapharm Inc.
- Glenmark Pharmaceuticals Inc.
- Blenheim Pharmacal Inc.
- SpecGx LLC
- Jamp Pharma Corporation
- Zyla Life Sciences US Inc.
- Ligand Pharmaceuticals Incorporated
- Astra Zeneca Lp
- Fresenius Kabi.
On 3rd March, 2020, FDA started to review the painkiller tanezumab, developed together by Pfizer and Eli, Lilly and Company, which is used for the treatment of chronic pain relief in patients suffering moderate to severe osteoarthritis, whose pain cannot be relieved by other analgesic drugs.
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Key Segments:
By Product Type:
- Pentazocine
- Oxymorphone
- Morphine
- Hydromorphone
- Methadone
- Hydrocodone
- Fentanyl
- Oxycodone
By Drug type:
- Sustained-release Opioids (SROs)
- Immediate-release Opioids (IROs)
- Long-acting Opioids (LAOs)
By Form:
- Natural
- Semi-synthetic
- Synthetic
By Dosage Form:
- Tablets and Capsules
- Injections
- Films and Sprays
- Patches
- Oral Liquids
By Indication:
- Analgesia
- Surgical Pain
- Cancer Pain
- Neuropathic Pain
- Cough Suppression
- Diarrhea Suppression
By Distribution Channels:
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
- Online pharmacies
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- MEA
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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