PUBLISHER: The Insight Partners | PRODUCT CODE: 1637659
PUBLISHER: The Insight Partners | PRODUCT CODE: 1637659
The Europe opioids market was valued at US$ 4,553.86 million in 2022 and is expected to reach US$ 5,237.72 million by 2030; it is estimated to register a CAGR of 1.8% from 2022 to 2030.
Surging Chronic Pain Incidence Drive Europe Opioids Market
Chronic diseases such as cardiovascular disease, cancer, musculoskeletal diseases, and neurovascular diseases critically affect a person's health by lowering immunity. Moreover, many patients suffering from these conditions experiences chronic pain. The diseases mentioned above are most common in adults and the geriatric population. Nevertheless, cases of these diseases are noticeably growing among children as well. Chronic pain is also common among sportspersons, athletes, and individuals living with past injuries. According to a study published in the NCBI (i.e., National Center for Biotechnology Information), 20% of adults suffer from pain worldwide, and 10% are newly diagnosed with chronic pain per year. While pain affects all populations, regardless of sex, race/ethnicity, income, age, or geography, it is not distributed equally across the world. Prescription opioids, including hydrocodone, oxycodone, and morphine, are potent pain-reducing medications that are used to treat pain caused by injuries, surgeries, and health conditions such as cancer and arthritis. Increased opioid prescribing practices can be attributed to the insurance reimbursement programs that incentivize opioids over alternative pain treatments, cost structures that encourage more efficient care, and evaluations that combine patient satisfaction with effective pain management. Therefore, owing to the advantage of opioids in pain management, the demand is rising among patients with chronic diseases.
Europe Opioids Market Overview
The Europe opioids market is segmented into Germany, the UK, France, Italy, Spain, and the Rest of Europe. Europe occupies a significant position in the Europe opioids market and is expected to experience strong market growth during the forecast period. The market growth in the region is mainly attributed to the rising prevalence of diseases that cause chronic pain (such as arthritis, lower back pain, and fibromyalgia) and the surging availability of medications to treat addiction to opioid drugs (such as heroin). For instance, methadone is the most prescribed opioid agonist in Europe and is used in 75% of patients for opioid agonist maintenance treatment. Buprenorphine is the second most used opioid agonist in the region. However, it is one of the most often used opioid maintenance treatments in Croatia, Cyprus, the Czech Republic, Finland, France, and Sweden. Codeine is the primary agonist used in Cyprus and Germany, whereas diacetylmorphine is the one that is commonly used in Belgium, Denmark, Germany, the Netherlands, Spain, the UK, and Ireland.
Europe Opioids Market Revenue and Forecast to 2030 (US$ Million)
Europe Opioids Market Segmentation
The Europe opioids market is categorized into product, application, route of administration, distribution channel, and country.
Based on product, the Europe opioids market is segmented immediate release short acting opioid and extended release long acting opioid. The immediate release short acting opioid segment held a larger market share in 2022. The immediate release short acting opioid is further sub segmented into oxycodone, hydrocodone, tramadol, codeine, propoxyphene, and others. The extended release long acting opioid is further sub segmented into oxycodone, fentanyl, morphine, methadone, and others.
In terms of application, the Europe opioids market is categorized into pain management, anesthesia, diarrhea suppression, cough suppression, de-addiction, and others. The pain management segment held the largest market share in 2022.
By route of administration, the Europe opioids market is segmented into oral, injectable, and transdermal patch. The oral segment held the largest market share in 2022.
By distribution channel, the Europe opioids market is bifurcated into hospital pharmacies and retail pharmacies. The hospital pharmacies segment held a larger market share in 2022.
By country, the Europe opioids market is segmented into the UK, Germany, France, Italy, Spain, and the Rest of Europe. The UK dominated the Europe opioids market share in 2022.
Endo International plc, Mallinckrodt Plc, Neuraxpharm Pharmaceuticals SL, Hikma Pharmaceuticals Plc, Rusan Pharma Ltd, and Teva Pharmaceutical Industries Ltd are some of the leading companies operating in the Europe opioids market.