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Posted by jack on September 19, 2024 at 6:45am 1 Comment 0 Likes
Posted by Barbara on September 19, 2024 at 6:41am 0 Comments 0 Likes
One of the major trends witnessed by the healthcare vertical is that of the key stakeholders going for service-oriented business models. These “all-in-one” models are bound to rejuvenate the healthcare vertical on the whole. The Opioids Market is on the replenishment plank and gives insights on the same count.
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.
About Us:
Persistence Market Research is here to provide companies a one-stop solution with regards to bettering customer experience. It does engage in gathering appropriate feedback after getting through personalized customer interactions for adding value to customers’ experience by acting as the “missing” link between “customer relationships” and “business outcomes’. The best possible returns are assured therein.
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