MARKET OUTLOOK
Triton's report on the opioid drugs market in the Middle East and Africa states that the industry will grow with a CAGR of 2.60% in the forecast period 2019-2028. Saudi Arabia, Turkey, South Africa, the UAE, and Rest of MEA together shape the market in this region.
Similar to most developing nations, Turkey has been witnessing an alarming rise in the incidence of cancer and cancer deaths. This rise is attributable to the improvement in the registry system and better access to diagnostic services. Over the last few years, the concept of palliative care has emerged in the country, with the development of pain control units in the majority of the healthcare centers. However, the rate of morphine consumption per capita is low, and the substance is not widely available either. This presents major growth opportunities for opioid drug manufacturers to capitalize on this unexplored market.
In Saudi Arabia, the number of people affected with cancer is rising significantly, and the mortality rate due to the disease is also very high. Most of these cases are detected at the later stages. It thererefore becomes imperative to treat the patients with opioid drugs to alleviate their pain. This has generated demand for these drugs in the country. However, most people in the country, though being extremely concerned about having the condition, lack knowledge about the use of opioids for pain management or are misinformed. This acts as a hurdle in the path of market growth.
COMPETITIVE OUTLOOK
The notable players in this market include Hikma Pharmaceuticals Plc, Daiichi Sankyo, Indivior Inc, Mylan NV, Collegium Pharmaceutical Inc, Johnson Johnson, Cipher Pharmaceuticals Inc, Purdue Pharma LP, and Pfizer Inc.