May 22, 2024
U.S. Opioids Market

The U.S. Opioids Market is Estimated to Propelled by Growing Chronic Pain Prevalence

Opioids are painkillers used to treat moderate to severe pain. They work by attaching to opioid receptors in the brain and nervous system to relieve pain. With a growing prevalence of chronic pain conditions like arthritis and back pain in the U.S. population, demand for opioid medications is increasing.

The U.S. Opioids Market Size is estimated to be valued at US$ 19792.39 Mn in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Growing prevalence of chronic pain is one of the key factors fuelling growth of theU.S. Opioids market. It is estimated that around 50 million adults in the U.S. suffer from chronic pain, which can be caused by various factors such as arthritis, diabetes, cancer, injuries, and musculoskeletal disorders. Opioid medications provide effective pain relief for chronic pain patients. Thus, increasing chronic pain burden in the U.S. translates to higher demand for prescription opioid drugs over the forecast period.

SWOT Analysis

Strength: The U.S. Opioids market has a strong demand and stable revenues from pain medications. Established pharmaceutical companies have extensive R&D capabilities and manufacturing facilities.

Weakness: High risk of addiction associated with opioids negatively impacts the market. Stringent regulations on opioid prescriptions can limit market growth.

Opportunity: Growing geriatric population experiencing pain-related conditions provide opportunities. Development of less addictive alternatives can expand the market reach.

Threats: Legal issues and lawsuits against companies for aggressive marketing of opioids pose major threats. Increasing awareness about risks of opioids can reduce their long-term usage.

Key Takeaways

The U.S. Opioids market is expected to witness high growth over the forecast period driven by rising prevalence of chronic pain conditions. As per analysis, musculoskeletal disorders are the most common chronic pain conditions requiring long-term pain management therapies. Leading players are focusing on development of more effective and less risky pain medications to cater to the unmet needs. The U.S. Opioids Market is estimated to be valued at US$ 19792.39 Mn in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024 to 2031.

The Western region currently dominates theU.S. Opioids market owing to higher adoption of pain therapeutics. However, Central and Southern regions are expected to offer lucrative opportunities with growing geriatric populations experiencing musculoskeletal pain.

Key players operating in theU.S. Opioids market are Kimberly-Clark Corporation, Procter and Gamble, Unicharm Corporation, Domtar Corporation, Kao Corporation, Ontex Group, Johnson & Johnson Services, Inc., Nobel Hygiene, Fujian Shuangheng Group Co., Ltd., and Bumkins. These companies invest significantly in R&D of novel molecules and technologies for safer opioids. Partnerships with healthcare providers and marketing campaigns also help boost product penetration.

*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it