Published by Persistence MarketResearch
Posted on October 4, 2021
5 min readLast updated: January 31, 2026
The opioids market is set to reach $40.5Bn by 2031, driven by technological advancements and patient-centric care. North America leads the market with significant contributions from the U.S.
The Opioids Market is slated to reach US$ 40.5 Bn at a CAGR of 3.3% between 2021-2031. The present scenario is that of consumers driving as well as the accelerating pace of alteration in the healthcare vertical. This drives the digitally-enabled, seamlessly connected, and on-demand clinician-patient interactions. As such, patient-centric delivery transcending geographical barriers would be the epicenter going forward.
Opioids are a type of narcotic pain medication that is used to treat moderate to severe pains, such as traumatic pain, cough suppression, diarrhoea suppression, surgical pain, injuries, cancer pain, and pain arising due to chronic diseases. However, opioids have both, benefits as well as potentially severe risks of addiction. Opioids prescribed as pain relievers are usually safer if consumed for a short period of time. Long-term use can lead to dependency and addiction, overdose incidents, and even morbidity. Although opioids persist numerous adverse effects, opioid therapy is the mainstay for pain management for numerous patients.
According to the revised report published by Persistence Market Research, the global opioids market valued at US$ 40.5 Bn in 2020, and is predicted to expand at a CAGR of 3% over the forecast period (2021–2031).
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Companies covered in Opioids Market Report
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Key Takeaways from Opioids Market Study
“Strong growth in demand for morphine owing to its potency, efficacy, and safety makes it the most lucrative segment in the market,” says an analyst of Persistence Market Research.
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Government Initiatives toward Opioid Consumption
Governmental support for ongoing clinical research, consumption of opioids, and restricting misuse have favoured growth in demand for opioids. For instance, in August 2020, the U.S. Food and Drug Administration approved Trevena Inc.’s new chemical entity, “Olinvyk”, an intravenous opioid agonist used for the management of moderate to severe acute pain in adults.
Heavy misuse of opioids has led regulatory authorities to lay out newer prescription regulations for pain management. This is expected to facilitate proper utilization of opioids and also enable active restrictions on their misuse. For instance, Therapeutic Goods Administration (TGA) has implemented reforms to reduce the misuse of opioids.
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the opioids market in its latest study, presenting historical demand assessment of 2016 – 2020 and projections for 2021 – 2031. The research study is based on product (morphine, codeine, fentanyl, meperidine, and methadone), application (analgesia, cough suppression, and diarrhoea suppression), and distribution channel (hospital pharmacies, retail pharmacies, drug stores, clinics, and others), across seven key regions of the world.
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The post The Opioids Market To Drive Home The Technological Advancements Between 2021-2031 (Reaching US$ 40.5 Bn) appeared first on Lake Shore Gazette.
The main topic is the growth and technological advancements in the global opioids market from 2021 to 2031.
Opioids are used for treating moderate to severe pain, including surgical, traumatic, and cancer-related pain.
The opioids market is expected to grow at a CAGR of 3.3%, reaching $40.5Bn by 2031.
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