Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Hydrocodone Market size is anticipated to witness lucrative growth rate during the forecast period i.e., between 2025-2037.
The growth of the market can be attributed to the increasing application of hydrocodone in manufacturing drugs, which include, pain killers, paracetamol, cough suppressants, and others. Hydrocodone is an opioid, meaning, it is derived from natural opium, which is why, it is a controlled drug. The growing usage of hydrocodone-based drugs to relieve pain in medical conditions, such as, cancer, arthritis, and surgeries, among others, is estimated to boost the market growth. Moreover, the rising prevalence of cancer across the globe, is further estimated to boost the market growth. According to the data by the World Health Organization (WHO), over 10 million people died due to cancer in 2020.
Moreover, the growing R&D activities, for the development of new drugs, is estimated to boost the market growth. In addition to this, the increasing investment in the field of medical research by pharmaceutical companies, is projected to propel the market growth. According to the World Bank data, 2.204% of the global GDP was spent for R&D activities in 2018.
