Oxycodone Market Trends

  • Report ID: 3794
  • Published Date: Apr 03, 2023
  • Report Format: PDF, PPT

Oxycodone Market Trends

Growth Drivers

  • Growing Geriatric Population – The geriatric population is prone to cancer diseases and it is estimated that the geriatric population growth across the globe is driving the market growth. From the year 2015 to the year 2050, the proportion of the world's population over 60 is estimated to almost double from 12% to 22 per cent. In the year 2020, there will be more people over the age of 60 than children under the age of 5, and by 2050 it is projected that 80% of the world's older people will live in lower and middle income countries.
  • Worldwide Prevalence of Cancer – Cancer incidence is expressed as the number of people living without being diagnosed with cancer. It is defined by how common cancers develop (incidence) and how long they live after diagnosis (survival). Therefore, the most common cancers with the longest survival rates have the highest prevalence. For instance, the prevalence of breast cancer in women and prostate cancer in men is high, estimated at 42% and 43% in the year 2019. Oxycodone is widely used in cancer treatment. Hence, it is estimated to be a major growth driver.
  • Rising healthcare Spending – According to the latest spending data, global healthcare spending has increased over the past two decades, effectively doubling from 8.5% in 2000 to USD 8.5 trillion in the year 2019, increasing GDP reached 9.8%. The boom will continue during the forecast period.
  • Growing Oncology Expenditure – Global oncology spending in the year 2021 was found to be around USD 185 billion. For comparison, six years ago oncology spending was about USD 85 billion. This is also estimated to strengthen the oncology information system.
  • Rise in Research Spending – Growth in the global market during the forecast period can be further attributed to increased investment in research and development activities to continuously find more viable solutions for medical procedures for cancer treatment. Research reports show that global R&D spending has more than tripled in real terms since 2000, rising from about USD 680 billion to more than USD 2.5 trillion in 2019.

Challenges

  • Side Effects of Cancer Medications – Increasing personal concern about side effects associated with the use of cancer medications is one of the major factors expected to slow down the market growth.
  • Low awareness of these drugs among people in low and middle-income countries
  • Lack of reimbursement policies for treatment of cancer in some countries

Oxycodone Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~7%

Base Year Market Size (2022)

~ USD 9 Billion

Forecast Year Market Size (2035)

~ USD 21 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)
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Author Credits:  Radhika Pawar


  • Report ID: 3794
  • Published Date: Apr 03, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Growing incidences of cancer and the growing oncology spending are the major factors driving the growth of the oxycodone market.

The market is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2023-2035.

The side effects and addictive nature of opioids are the challenges affecting the market growth.

The market in Asia Pacific 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 Bayer AG, Abbott Laboratories, Merck & Co., Inc., Validus Pharmaceuticals LLC, Teva Pharmaceutical Industries Ltd., Siemens Healthcare GmbH., 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 route of administration, end user, application, 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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