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HEALTHCARE & PHARMACEUTICAL

Narcotics Analgesics Market Analysis by Type (Non-Opioids, and Opioids); by Application (Pain Management, Cough Treatment, and Diarrhea); and by Administration Route (Oral, Intravenous, Rectal, Transdermal, and Topical) – Global Supply & Demand Analysis & Opportunity Outlook 2022-2031

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • June 26, 2021- Johnson & Johnson Services, Inc. announced a settlement agreement with the State of New York and its subdivisions, resolving their opioid-related claims against the Company. The settlement will provide about USD 263 million in funding for New York and its subdivisions to address opioid-related issues and as reimbursement for attorney fees and costs.

  • Jul 24, 2018 - AbbVie Inc. in association with Neurocrine Biosciences, Inc. announced the release of first and only gonadotropin-releasing hormone ORILISSA that has been approved by the U.S Food and Drug Administration.

Global Narcotics Analgesics Market Size, Forecast, and Trend Highlights Over 2022 - 2031

Narcotics Analgesics Market CAGR & Forecast 2031

The global narcotics analgesics market is estimated to garner a revenue of USD 51 Billion by the end of 2031 by growing at a CAGR of ~5% over the forecast period, i.e., 2022 – 2031.

Further, the market generated a revenue of USD 27 Billion in the year 2021. The growth of the market can be attributed to an increment in the research and development of narcotics analgesics worldwide. Further, the increased use of heroin, a type of narcotic analgesic, is also expected to contribute to market growth. In 2019, more than 40,000 people tried heroin for the first time and in 2020, around 7,00,000 people used heroin. Besides this, the rise in concern for the misuse of pain killers and the myth that pure heroin is less harmful than less pure heroin forms is also poised to create numerous opportunities for market growth in the coming years. Also, a growing tolerance to non-narcotics analgesics is the major reason for the constant increase in sales of narcotics analgesics.

Narcotics Analgesics Market Overview

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The growth of the global narcotics analgesics market can also be attributed to the quick onset of action of these pharmaceutical drugs and the high efficiency of these drugs for neuropathic pain management. In addition to this, the rise in demand for drugs for pain relief related to the central nervous system (CNS), such as morphine, is also anticipated to drive market growth. International Narcotics Control Board reported that 79% of the world’s population consumed 13% of morphine used for the management of pain and suffering or 1% out of 388.2 tons of total morphine manufactured across the world.

Global Narcotics Analgesics Market: Growth Drivers and Challenges

Growth Drivers

  • Increased Research for Cancer Treatment Drugs – As per the National Cancer Institute the funding for cancer research increased from USD 4,952.6 in 2015 to USD 6,440.4 in 2019.

  • Increase in Incidence of Chronic Diseases such as Cancer, Heart Disorders, Arthritis, and TuberculosisAbout 60 million adults have arthritis in the U.S, which is about 1 in 4 adults.

  • Rising Consumption of Different Types of DrugsIn the year 2020, the use of different types of drugs increased by more than 20% from 2010 during the COVID-19 pandemic.

  • Increasing Dispensing Rates of Opioids – In 2020, over 3% of U.S countries dispensed adequate opioid prescriptions for every individual to have one. Further, the overall dispensing rate in the U.S in the same year was over 40 prescriptions per 100 people, while some countries had nine times higher rates.

  • Government Support to Improve Pharmaceutical and Analgesic IndustriesThe estimated R&D expenditure in the pharmaceutical industry in 2019 was more than USD 80 billion.

  • Growth of Geriatric Patient Population Who Uses Painkillers – As per the United Nations Department of Economic and Social Affairs, globally, 703 million people were aged over 65 years in 2019. The share of the population aged over 65 years had increased from 6% in 1999 to 9% in 2019 across the globe.

Challenges

  • Shortage of Analgesic Medication
  • Imposed Regulations to Prevent Misuse
  • Addiction to Narcotics Drugs

The global narcotics analgesics market is segmented and analyzed for demand and supply by administration route into oral, intravenous, rectal, transdermal, and topical, out of which, the oral segment is anticipated to hold the largest market share by the end of 2031. The growth of the segment can be attributed to the simple administration through the oral route, the non-invasive nature of administration, and the increased efficiency of these drugs when compared to other routes of administration. Over 80% of drugs in high demand are oral route products with a value of USD 30 billion and a growth rate of 10% annually. 

Major Macro-Economic Indicators Impacting the Market Growth

Narcotics Analgesics Market Regional Growth

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Narcotics Analgesics Market Regional Synopsis

Regionally, the global narcotics analgesics market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America region is projected to hold the largest market share by the end of 2031 on the back of an increase in demand for pain killers. Between 2015-2018 about 10.7% of U.S adults aged 20 and above used one or more prescription pain medications (opioid or nonopioid) and 5.7% used one or more prescription opioids, as per the statistics by the Centers for Disease Control and Prevention (CDC).

Narcotics Analgesics Market Share

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The global narcotics analgesics market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global narcotics analgesics market includes the following segments:

By Type

  • Nonopioids
  • Opioids

By Application

  • Pain Management
  • Cough Treatment
  • Diarrhea

By Administration Route

  • Oral
  • Intravenous
  • Rectal
  • Transdermal
  • Topical

Top Featured Companies Dominating the Global Narcotics Analgesics Market

  • Pfizer Inc.

    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Teva Pharmaceutical Industries Ltd.
  • AbbVie Inc.
  • Sun Pharmaceutical Industries Ltd.
  • Sanofi S.A.
  • Abbott Laboratories
  • Janssen Global Services, LLC
  • Novartis AG
  • Bayer AG
  • GlaxoSmithKline plc

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