The narcotics analgesics market comprise of opioid and non-opioid pain relievers that provide relief from moderate to severe pain. Opioid analgesics such as morphine, codeine, oxycodone and fentanyl are commonly prescribed for cancer pain, post-surgical pain and chronic severe pain. Increasing incidence of chronic pain conditions like arthritis, back pain and cancer has resulted in high demand for potent pain relievers.
The Global narcotics analgesics Market Demand is estimated to be valued at US$ 36.45 billion in 2024 and is expected to exhibit a CAGR of 12% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the narcotics analgesics market include Kimberly-Clark Corporation, Essity AB, Georgia-Pacific LLC, Asia Pulp and Paper Group, Procter & Gamble Co., Sofidel Group, CMPC Tissue S.A., WEPA Hygieneprodukte GmbH, Metsä Group, Cascades Inc. These companies dominate the market with their extensive product portfolio and global distribution network.
The market offers several growth opportunities such as new product launches, expanding into emerging markets and strategic collaborations & acquisitions. Major players are focusing on developing tamper-resistant and abuse deterrent formulations of opioid analgesics to prevent non-medical use of these drugs.
Globally, the narcotics analgesics market is expanding into Latin America, Asia Pacific and Middle East regions owing to increasing healthcare expenditures, rising standards of living and growing medical needs in these areas. However, stringent regulations around opioid use in developed markets act as a challenge for players eyeing global expansion opportunities.
Market Drivers
Growing geriatric population susceptible to chronic pain conditions like osteoarthritis and lower back pain is a key factor driving the narcotics analgesics market. According to WHO, 1.5 billion people suffer from chronic pain globally and 20%-30% of the general population is affected by chronic pain disorders.
Increasing availability of abuse-deterrent formulations of opioid drugs through initiatives by leading players is also fueling the market growth. For instance, Introduction of tamper-resistant formulations have reduced the risk of misuse of these potent analgesics through alternate non-oral routes.
Market Restrain
Stringent regulations imposed by authorities like FDA on distribution and use of opioid drugs hamper the market growth. Over-prescription of opioid drugs has led to increasing addiction rates and fatalities. Governments are focusing on mitigating opioid abuse crisis which acts as a key restrain for the global narcotics analgesics market.
Preference for alternative pain management options like physical therapy, acupuncture and chiropractic treatment also challenges the market growth to some extent. Non-pharmacological treatments are increasingly adopted to avoid side effects and dependency caused by long term use of opioids.
Segment Analysis
The narcotics analgesics market is dominated by opioids sub-segment led by growing demand for potent pain relievers. Opioids such as morphine are highly effective in relieving moderate to severe pain and have high Bioavailability making them first choice for conditions like cancer pain. Non-opioids sub-segment comprising acetaminophen and nonsteroidal anti-inflammatory drugs is another major segment driven by increasing usage to treat mild to moderate pain without risk of addiction.
Global Analysis
North America is the fastest growing region in the narcotics analgesics market led by an aging population and rising prevalence of chronic diseases in the US and Canada driving demand for strong pain management therapies. However, the abuse and overuse of prescription opioids have led regulatory authorities to tighten controls, restraining market growth. Europe represents second largest regional market owing to high accessibility of healthcare and well-established reimbursement policies helping patients afford expensive treatments involving narcotic pain relievers. Asia Pacific is projected to witness highest CAGR during the forecast period due to improving access to healthcare facilities, increasing affordability as well as rising awareness about management of chronic pain.
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