DUBLIN, Nov. 22, 2022 /PRNewswire/ — The “Opioids Market Size, Share & Trends Analysis Report by Product (IR/ Short Acting Opioids, ER/Long-Acting Opioids), by Application (Pain Relief, Anesthesia), by Route Of Administration, by Distribution Channel, and Segment Forecasts, 2022 -2030” report has been added to ResearchAndMarkets.com’s offering.
The global opioids market size is expected to reach USD 25.33 billion by 2030, registering CAGR of 1.2% during the forecast period. Supportive regulatory policies aid manufacturers to introduce products that may contribute to the market growth. For instance, in June 2021the US FDA approved nalmefene hydrochloride injection developed by Purdue Pharma. The Nalmefene injectable is an opioid antagonist designed to reverse opioid overdose. The expected approval of a product is anticipated to drive the growth.
Moreover, in June 2021morphine sulfate tablets and morphine sulfate oral solution were approved by FDA for the management of severe pain in pediatric and adult patients for whom other treatment options were less. Thus, approval of new opioid and their launch is also expected to drive the growth.
Growing use of the opioids for the management of post-operative pain, caused due to the surgeries, is expected to drive the market growth. According to the Canadian Center on Substance Use and Addiction, in 2020, approximately 11.8% of all the population used opioid analgesics for the management of symptoms. Tramadol and codeine are frequently dispensed for the postoperative opioid prescription in …