According to a newly updated analysis from Future Market Insights, Oxycodone Market will increase steadily between 2021 and 2031 at a CAGR of 4.8%. The market for oxycodone is expected to reach a value of over US$ 4.6 Billion in 2021, driven by a surge in demand for efficient pain treatment options.
Due to rising healthcare costs in the United States and Canada, growth estimates for North America are nevertheless optimistic. The price of oxycodone in North America is anticipated to reach US$ 1.85 Billion in 2021 as a result of this.
Oxycodone belongs to a group of opioid analgesics that is generally used in pain management. It is used for both long and short term. Rising prevalence of orthopaedic diseases such as osteoporosis, fibromyalgia, rheumatoid arthritis and other types of chronic pain is boosting the demand for oxycodone in the global market.
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According to the International Osteoporosis Foundation, osteoporosis is one of the most serious health concerns among women and around 30% of people in U.S and Europe are affected by it each year. Increasing medical ailment and post-operative pain is another factor influencing the demand for oxycodone market globally.
The market growth is expected to accelerate due to increasing research and development activities undertaken to innovate abuse-deterrent formulations. Advance drug formulation such as extended-release medication for pain relief is an example of improve formulation.
The market however could face certain restrains in growth as oxycodone has side effects such as bladder pain, abdominal cramps, vomiting, diarrhoea, and breathing problem. Moreover, overdose of oxycodone can lead to de-addiction. The market can also be impacted due to certain severe adverse psychological problems such as depression.
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Key Takeaways from FMI’s Oxycodone Market Study
- Increasing penetration of pain management drugs, coupled with favourable reimbursement policies will drive sales in the U.S.
- Within the Middle East and Africa, the demand in GCC countries will rise backed by investment towards expansion of the healthcare sector
- The U.K., Italy, and France are likely to account for sizeable share in the Europe market for oxycodone
- Long-acting oxycodone sales will rise steadily owing to surging application in pain management
- Hospital pharmacies will continue exhibiting high demand for oxycodone, driven by higher footfall of patients
Who is Winning?
- FDA in 2017 approved RoxyBond, a novel formulation of immediate-release oxycodone. This is the first approved immediate release opioid analgesic formulation with labelling that describes its abuse-deterrent properties.
- In September 2019, Daiichi Sankyo Company in Japan, launched its generic formulated oxycodone hydrochloride hydrate extended release tablets for cancer pain treatment.
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Key Companies Profiled:
- Teva Pharmaceutical Industries Ltd.
- Purdue Pharma L.P
- Daiichi Sankyo
- Acorda Therapeutics
- Teikoku Pharma USA, Inc.
- Mylan N.V
- Endo Pharmaceuticals Inc.
- Janssen Pharmaceuticals, Inc.
Key Segments Covered in Oxycodone Market Study
By Oxycodone Type:
- Long-acting oxycodone
- Short-acting oxycodone
By Application:
- Pain Management
- De-addiction
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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