The opioids market in the United States comprises prescription opioids such as morphine, codeine, fentanyl, oxycodone, hydrocodone, and methadone among others. Opioids act on opioid receptors in the central nervous system to produce analgesic effects. They are primarily used to manage acute pain resulting from trauma or surgery and chronic pain resulting from cancer or non-cancer conditions. Overprescription of opioids by healthcare providers, overuse due to dependence and addiction, and availability of illicit opioids has contributed to the rise in opioid abuse in the country. However, growing awareness about judicious opioid use and tightening of regulations are helping curb the opioid crisis.
The U.S. Opioids Market Size is estimated to be valued at US$ 19792.39 Mn in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The major drivers fueling the growth of the opioids market in the U.S. are increasing adoption of opioids for management of chronic pain, and introduction of abuse-deterrent formulations of opioids by key players. According to the Centers for Disease Control and Prevention, around 50 million adults in the U.S. suffer from chronic pain, out of which 20 million have high-impact chronic pain that interferes with daily life or work activities. Opioids are frequently prescribed medications for treatment of chronic pain. Moreover, pharmaceutical companies are focusing on developing abuse-deterrent formulations of opioids such as Embeda, Hysingla ER, and Troxyca ER to curb the opioid crisis resulting from non-medical use and misuse of conventional opioids. For instance, in April 2019, the FDA approved a new abuse-deterrent formulation of OxyContin (oxycodone hydrochloride) to make the prescription opioid harder to crush, break, or dissolve, thus making it difficult to inject or snort the drug.
Segment Analysis
The U.S. Opioids market can be segmented into prescription and over-the-counter. The prescription segment dominates the market and accounts for over 85% share as prescription opioids are primarily used for pain management of chronic illnesses such as cancer. The over-the-counter segment is witnessing growth on account of growing preference for self-medication of mild-moderate pain.
PEST Analysis
Political: Increased regulations on opioid prescriptions by the FDA and DEA to curb misuse has impacted market growth to some extent.
Economic: Rise in healthcare spending coupled with growing per capita income has boosted demand.
Social: Growing awareness about risks of opioid addiction is prompting people to consider alternative pain management options.
Technological: Novel drug delivery systems are being researched to provide safer long-term pain relief with reduced risk of addiction.
Key Takeaways
The U.S. Opioids market is expected to witness high growth. The U.S. Opioids Market is estimated to be valued at US$ 19792.39 Mn in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024 to 2031.
The central region dominates opioid consumption driven by states like Ohio reporting highest opioid prescribing rates.
Key players like Kimberly-Clark Corporation, Procter and Gamble, Unicharm Corporation are focusing on developing tampons and pads with natural ingredients to cater to the health-conscious female population. Key players operating in theU.S. Opioids market are Kimberly-Clark Corporation, Procter and Gamble, Unicharm Corporation, Domtar Corporation, Kao Corporation, Ontex Group, Johnson & Johnson Services, Inc., Nobel Hygiene, Fujian Shuangheng Group Co., Ltd., and Bumkins.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
