Narcotics analgesics are pain-relieving drugs used to treat moderate to severe, acute and chronic pain. They contain opioid medications such as morphine, codeine, oxycodone, hydrocodone, fentanyl and hydromorphone. These drugs are highly effective for managing pain but are associated with risks of abuse and addiction due to their euphoric effects. They work by binding to opioid receptors in the brain and body to inhibit the transmission of pain signals to the brain. The global narcotics analgesics market is driven by the growing prevalence of chronic pain disorders such as cancer pain, neuropathic pain and musculoskeletal disorders. Advancements in long-acting formulations and transdermal drug delivery systems are also fueling the demand for narcotics analgesics.

The Global narcotics analgesics Market Demand is estimated to be valued at US$ 36.45 Bn in 2024 and is expected to exhibit a CAGR of 12% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the narcotics analgesics market are Kimberly-Clark Corporation, Essity AB, Georgia-Pacific LLC, Asia Pulp and Paper Group, Procter & Gamble Co., Sofidel Group, CMPC Tissue S.A., WEPA Hygieneprodukte GmbH, Metsä Group, Cascades Inc. The market presents lucrative growth opportunities owing to the rising awareness regarding management of chronic pain and the availability of generic and branded formulations. Technological advancements in long-acting formulations such as fentanyl patches and transdermal drug delivery systems are further fueling the demand for narcotics analgesics.

Market drivers

The global narcotics analgesics market is primarily driven by the growing prevalence of chronic pain disorders worldwide. As per the findings of the Global Burden of Disease Study, low back pain, neck pain and other musculoskeletal disorders are among the top causes of disability globally. Moreover, the rising geriatric population who are more prone to chronic health conditions such as osteoarthritis and cancer is also augmenting the demand for pain management therapeutics. According to the United Nations, by 2050, one in six people in the world will be over age 65, up from one in 11 in 2019. This growing aging population base will continue to provide a strong impetus to the narcotics analgesics market during the forecast period.

Current Challenges in Narcotics Analgesics Market:
The narcotics analgesics market is facing several challenges currently. One of the major challenges is the ongoing opioid crisis in regions like North America. Easy availability and overprescription of opioid drugs like oxycodone and hydrocodone have led to widespread abuse and addiction issues. Regulatory bodies are now clamping down on opioid prescriptions to curb misuse. This is negatively impacting sales volumes for companies in this market. Other challenges include increasing preference for alternative pain therapies like cannabinoids and strict regulations governing narcotic drug production,distribution and sales. Companies also face pricing pressures due to growing generic competition.

SWOT Analysis
Strength: Effective pain relief properties; Wide usage in post-surgical care and management of severe chronic pain.
Weakness: High potential for abuse and addiction; Strict regulatory norms.
Opportunity: Developing tamper-resistant formulations; Growing pain management market in emerging economies.
Threats: Alternative non-opioid therapies; Increased generic competition.

Geographical regions where market concentration in terms of value is highest:
North America currently accounts for the largest share of the global narcotics analgesics market, both in terms of value and volume. This is primarily due to high prescribing rates of opioid drugs in the US for chronic pain management.

The fastest growing region for the narcotics analgesics market:
The Asia Pacific region is poised to be the fastest growing market for narcotics analgesics during the forecast period. This is attributed to factors like rising healthcare spending, growing incidence of chronic diseases, and increasing acceptance of opioid drugs for cancer and postoperative pain in countries like China, India and Japan.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it