MARKET OUTLOOK
According to Triton Market Research, the North American opioid drugs market is anticipated to rise with a CAGR of 2.36% in the estimated years 2019-2028. The United States and Canada together shape the market in this region.
Opioids or narcotics are the medications that doctors prescribe for treating severe or persistent pain. These are prescribed for use by people suffering from chronic lower back pain because of sedentary lifestyles, patients recovering surgery, and those experiencing cancer-associated pain. These are also used by those who have had bone injuries due to reduced bone density. There is a large market for opioid drugs market in the United States.
However, 2018’s statistics by the Drug Base Government show that, every day, 128 people in the country died due to an overdose of opioids. The abuse of and addiction to these substances, and the morbidity and mortality resulting due to these behaviors, is a serious national crisis. The US’ Department of Health and Human Services (HHS) has been dedicated in its efforts to tackle this crisis. With the help of the National Institutes of Health (NIH), it has been discovering new and better ways for the prevention of opioid misuse, treatment of disorders due to opioid abuse, and management of pain.
COMPETITIVE OUTLOOK
Some of the companies having their presence in this market are Allergan (Acquired By Abbvie), Janssen Pharmaceuticals Inc, Mylan NV, Johnson Johnson, Lupin Ltd, Hikma Pharmaceuticals Plc, Daiichi Sankyo, Teva Pharmaceutical Industries Ltd, and Acura Pharmaceuticals.