MARKET OUTLOOK
Triton's report has determined the opioid drugs market in Europe to proliferate at a compound annual growth rate of 2.53% during the forecast period 2019-2028. Russia, Spain, Germany, Italy, France, the UK, and Rest of Europe together shape the market in this region.
A 2018 study published in the British Journal of General Practice states that, in the United Kingdom, there has been an increase in long-term opioid prescription. In Russia, the pain experienced in people having an advanced stage of cancer is one of the frequently encountered types of chronic pain. Thus, strong opioids, such as morphine and fentanyl, are prescribed to them, in accordance with the three-step protocol by the World Health Organization.
Further, in 2017, the NIH reported that, the prevalence of general chronic pain among adult patients in the Netherlands was around 18%. And, the rate of prevalence of cancer pain among the patients, in the preceding year, was almost 55%. Opioids play a vital role in alleviating the pain of patients suffering from such conditions. All the above-mentioned factors indicate an increase in the demand for opioid drugs in Europe. This, in turn, is helping the growth of the opioid drugs market in the region over the coming period. However, it must be noted that, in 2016, 1,333 people lost their lives to opioid drug overdose in Germany. This is a matter of grave concern, needing increased efforts by the national governments in the region, to spread awareness about substance abuse.
COMPETITIVE OUTLOOK
The major organizations that have established their presence in this market are Biodelivery Sciences International Inc, Collegium Pharmaceutical Inc, Cipher Pharmaceuticals Inc, Acura Pharmaceuticals, Teva Pharmaceutical Industries Ltd, Allergan (Acquired By Abbvie), Johnson Johnson, Sanofi-Aventis SA, and Sun Pharmaceutical Industries Ltd.