May 21, 2024

Oxycodone Drugs Market Size to Attain USD 10.79 Billion by 2033

The global oxycodone drugs market size was estimated at USD 6.33 billion in 2023 and is predicted to reach around USD 10.79 billion by 2033, growing at a CAGR of 5.48% from 2024 to 2033.

Key Points

  • North America dominated the oxycodone drugs market in 2023.
  • By product type, the short-acting segment had a significant share in 2023 and expected to sustain the position during the forecast period.
  • By distribution channel, the hospital pharmacies segment dominated the oxycodone drugs market in 2023.
  • By distribution channel, the retail pharmacies segment shows a significant growth in the oxycodone drugs market during the forecast period.

Oxycodone Drugs Market Size 2024 to 2033

The oxycodone drugs market encompasses the production and distribution of pharmaceutical drugs containing oxycodone, a potent opioid analgesic used for managing moderate to severe pain. Oxycodone is available in various forms, including immediate-release and extended-release formulations, and is commonly prescribed for conditions such as post-surgical pain, cancer-related pain, and chronic pain. The market has seen significant growth over the years due to the rising prevalence of chronic pain conditions and the increasing need for effective pain management.

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Growth Factors:

The growth of the oxycodone drugs market is primarily driven by the increasing incidence of chronic pain conditions, such as arthritis and back pain, as well as the rising number of surgeries that require post-operative pain management. Additionally, the market benefits from advances in drug formulations that enhance patient outcomes and minimize side effects. Growing awareness among healthcare professionals and patients about effective pain management options also contributes to market growth.

Regional Insights:

The market is expected to exhibit different growth patterns across various regions. In North America, the United States leads the market due to the high prevalence of chronic pain conditions and well-established healthcare infrastructure. Europe also holds a significant share of the market, driven by a large aging population and increased healthcare expenditure. Asia-Pacific is anticipated to witness substantial growth due to rising healthcare awareness and access to pain management treatments in emerging economies such as China and India.

Oxycodone Drugs Market Scope

Report Coverage Details
Growth Rate from 2024 to 2033 CAGR of 5.48%
Global Market Size in 2023 USD 6.33 Billion
Global Market Size in 2024 USD 6.68 Billion
Global Market Size by 2033 USD 10.79 Billion
Largest Market North America
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered By Product Type and By Distribution Channel
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Oxycodone Drugs Market Dynamics

Drivers:

Key drivers of the oxycodone drugs market include the increasing demand for pain management solutions, growing awareness of opioid analgesics, and advancements in drug delivery systems. Additionally, the development of novel formulations that improve patient compliance and reduce the risk of abuse contributes to market expansion.

Opportunities:

Opportunities in the oxycodone drugs market include the development of combination therapies that provide enhanced pain relief and the exploration of new indications for oxycodone use. Additionally, investments in research and development for safer and more effective formulations present growth prospects for the market.

Challenges:

Despite its growth potential, the oxycodone drugs market faces challenges such as the risk of addiction and abuse associated with opioids, which has led to increased regulatory scrutiny and restrictions on opioid prescriptions. The market also confronts competition from alternative pain management therapies and potential side effects that may limit long-term use of oxycodone. Addressing these challenges requires balancing effective pain management with measures to prevent abuse and misuse.

Read Also: Lipid-lowering Drugs Market Size to Rise USD 46.58 Bn by 2033

Oxycodone Drugs Market Recent Developments

  • In August 2022, Dopesick, the Hulu miniseries and Emmy front-runner, has taken on fresh significance after Teva and Allergan Pharmaceuticals settled over $6.6 billion in settlements with communities affected by the US opioid crisis.
  • In July 2022, one of the most well-known producers of generic opioids in the nation, Teva Pharmaceuticals, has revealed an agreement in principle to resolve its involvement in the ongoing, fatal opioid epidemic with almost 2,500 municipal, state, and tribal governments.

Oxycodone Drugs Market Companies

  • Teva Pharmaceutical Industries Ltd
  • Endo Pharmaceuticals Inc
  • Collegium Pharmaceutical Inc
  • Mallinckrodt Pharmaceuticals
  • Sun Pharmaceutical Industries Ltd

Segments Covered in the Report

By Product Type

  • Short-acting
  • Long acting

By Distribution Channel

  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

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Prathamesh

I have completed my education in Bachelors in Computer Application. A focused learner having a keen interest in the field of digital marketing, SEO, SMM, and Google Analytics enthusiastic to learn new things along with building leadership skills.

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