Oxycodone Market size is estimated to cross USD 21 billion by the end of 2035, growing at a CAGR of 7% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of oxycodone was over USD 9 billion. Oxycodone is a semi-synthetic opioid with analgesic properties similar to morphine. Owing to its analgesic and sedative properties, it is prescribed to cancer patients suffering from extreme pain. The market growth is mainly owing to the increasing prevalence of cancer and rising cancer mortality rates worldwide. According to the World Health Organization (WHO), 9.6 million people died of cancer in the year 2018, and in the year 2020 died of cancer more than 10 million. There were also 2.26 million new deaths from breast cancer, 2.21 million from lung cancer and 14.1 million from cancer. Oxycodone, sold under various brand names such as Roxycodone and OxyContin, is a powerful semi-synthetic opioid used medically to treat moderate to severe pain. It is a highly addictive drug. It is currently indicated as an immediate release product for moderate to severe pain and as a sustained release product for moderate to severe chronic pain requiring long-term continuous opioid analgesia.
Oxycodone works by binding to opioid receptors in the brain and spinal cord, which can help to reduce the perception of pain. It also has sedative effects, which can cause drowsiness and respiratory depression. Oxycodone is available in several forms, including immediate-release and extended-release tablets and capsules. Immediate-release oxycodone is typically used for the treatment of acute pain, while extended-release formulations are used for chronic pain management. Common brand names for oxycodone include OxyContin, Percocet, and Roxicodone. Despite its effectiveness as a pain reliever, oxycodone has a high potential for abuse and addiction. It is frequently misused by individuals seeking to achieve a euphoric high, and can be dangerous when combined with other drugs or alcohol. Long-term use of oxycodone can lead to physical dependence and withdrawal symptoms upon cessation.
Owing to the high rate of opioid addiction and overdose deaths in recent years, there has been increased scrutiny on the prescription and use of drugs like oxycodone. In response, many states and countries have implemented stricter regulations around opioid prescribing and dispensing. Health care providers are encouraged to use alternative pain management strategies, such as physical therapy, non-opioid medications, and psychological interventions, whenever possible.
Moreover, increasing global healthcare spending is estimated to boost the growth of the global oxycodone market. According to the data by The World Bank, in the year 2018, USD 1,111,082 per capita was spent on global healthcare, up from USD 999,104 in the year 2015. In addition to this, increasing awareness campaigns on the therapeutic effects of oxycodone are expected to increase the potential for market expansion during the forecast period. It is not administered as a regular medication and should only be taken when an episode occurs.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~7% |
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Base Year Market Size (2022) |
~ USD 9 Billion |
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Forecast Year Market Size (2035) |
~ USD 21 Billion |
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Regional Scope |
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Route of Administration (Oral, Intravenous)
The global oxycodone market is segmented and analyzed for demand and supply by route of administration into oral, intravenous, and others. Out of the three types of route of administration, the oral segment is estimated to gain the largest market share of about ~45% in the year 2035. The growth of the segment can be accredited to the oxycodone retains half of its analgesic properties when taken orally, hence the safer effects of oxycodone when taken orally. Across the world, it has been noted that aged people are more prone to cancer and for them oral route of administration is much easier than intravenous or other methods. Overall cancer incidence increases steadily with age, from less than 25 cases per 100,000 under 20 years to more than 1000 cases per 100,000 people for aged 60 years and over. Hence, this is estimated to add to the segmental growth notably.
End-user (Hospitals, Oncological Centers, Drug Stores)
The global oxycodone market is also segmented and analyzed for demand and supply by end user into hospital, oncology centers, drug stores, and others. Amongst these four segments, the hospital segment is expected to garner a significant share of around ~30% in the year 2035. The growth of the segment can be accredited to the large number of patients requiring treatment for cancer conditions. The hospitals are also growing rapidly in number, which is estimated to positively influence the segmental growth. For instance, by the year 2022 there was noted to be approximately 6,100 hospitals in the United States. Hospitals provide a wide range of medical care. Physicians, called hospital doctors, typically specialize in internal medicine, pediatrics, or general practice. They have the knowledge to solve common problems and the resources to solve more complex medical problems. Hospitals may also offer specialized care, such as neurology, obstetrics and gynecology, and oncology. By definition of a hospital, a county hospital is typically a primary medical facility in a region with numerous intensive care and mobile beds for patients requiring long-term care.
Our in-depth analysis of the global market includes the following segments:
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By End User |
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By Route of Administration |
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By Application |
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APAC Market Statistics
The oxycodone market in the Asia Pacific region, amongst the market in all the other regions, is projected to hold the largest market share of about ~35% by the end of 2035. The regional growth can majorly be attributed to the growing aged population in the region. Elderly people are more susceptible to cancer, which requires oxycodone to treat. The Asia Pacific population is aging faster than anywhere else is in the world. Sixty per cent of the world's total elderly population, that is, 630 million aged people reside in the Asia Pacific region. The region's elderly population is expected to reach 1.3 billion by the year 2050. Moreover, the government's role in raising awareness of the use of oxycodone is expected to spur market growth in the region. Moreover, increased funding for medical infrastructure is expected to influence the growth of the market in the region.
North American Market Forecast
The oxycodone market in the North America region, amongst the market in all the other regions, is projected to hold the second largest share of about ~24% during the forecast period. The growth of the market in this region can primarily be attributed to the fact that cancer patients are increasing in this region. An estimated 1,806,590 new cancer cases were diagnosed in the United States in the year 2020, according to the National Cancer Institute. Moreover, the presence of large research institutes in the region coupled with high healthcare costs are estimated to boost the market growth. Moreover, the insurance companies in North America offer efficient reimbursement policies to the patients going through cancer treatment, which encourages the patients to opt for advanced treatment methods. Hence, this is also estimated to add to the regional market growth significantly. Rising economic conditions and affordability of advanced treatments for patients are further expected to boost the market growth in this region during the forecast period. According to the U.S. Bureau of Economic Analysis, U.S. personal income increased 0.3% to USD 71.6 billion in August 2022, while personal spending increased 0.4% to USD 6.75 billion.
Europe Market Forecast
Further, the oxycodone market in the Europe, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growth of the market can be attributed majorly to the Increasing prevalence of chronic pain in the region. Chronic pain affects millions of people in Europe, and oxycodone is often prescribed as a treatment for this condition. As the population ages and chronic pain becomes more prevalent, the demand for oxycodone may increase. Moreover, Growing awareness of pain management is also estimated to boost the market growth. Healthcare professionals are becoming more aware of the importance of effective pain management. This may lead to increased use of oxycodone, which is a potent pain reliever. Opioids, including oxycodone, are commonly used in palliative care to manage pain and other symptoms associated with serious illnesses. As the population ages, demand for palliative care may increase, leading to increased use of oxycodone. Hence, all these factors are expected to add to the growth of the regional market.
The Anesthetics and Analgesics Products Advisory Committee, FDA, and Drug Safety and Risk Management Advisory Committee discuss the use of oxycodegol, a new oxycodone-based drug, to treat chronic low back pain in adult patients.
FDA creates an opioid system model to overlook and highlight potential opioid drug use, misuse, and abuse.
Author Credits: Radhika Gupta, Shivam Bhutani
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