Narcotics Analgesics Market Share

  • Report ID: 4203
  • Published Date: Feb 22, 2023
  • Report Format: PDF, PPT

Narcotics Analgesics Market Share

North American Market Forecast

The North American narcotics analgesics market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The growth of the market can be attributed majorly to the increased consumption of opioids for both medical and non-medical purposes. Over 80% of the world's opioids are consumed in the United States, which has 4.4% of the world's population. About 99% of the hydrocodone used worldwide is used in the US. Moreover, 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). Furthermore, rising cases of arthritis and osteoarthritis in the region are also expected to augment the market growth in the region. In 2020, every 1 in 4 adults in the United States are suffering from arthritis, further, it is estimated around 27 million adults in the region are likely to have arthritis by 2040. In addition to this, the most prevalent joint condition in the US is osteoarthritis. More than 33 million American people will have osteoarthritis by 2020.

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Narcotics Analgesics Market Size
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Author Credits:  Radhika Pawar

  • Report ID: 4203
  • Published Date: Feb 22, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increased research for cancer treatment drugs and rising consumption of different types of drugs are the major factors driving the growth of the narcotics analgesics market.

The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2023-2035.

Shortage of analgesic medication and addiction to narcotics drugs are estimated to hamper the market growth.

The market in North America is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are Pfizer Inc, Teva Pharmaceutical Industries Ltd., AbbVie Inc, Sun Pharmaceutical Industries Ltd., Sanofi, Abbott, Janssen Pharmaceuticals, LLC, Novartis AG, Bayer AG, GlaxoSmithKline plc, and others.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by type, application, administration route, and by region.

The oral segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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