Oxycodone Market Size

Oxycodone Market size was over USD 9.66 Billion in 2023 and is anticipated to cross USD 24.13 Billion by the end of 2036, growing at more than 7.3% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of oxycodone is estimated at USD 10.29 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.