Global Oxycodone Market to Grow by a Notable CAGR during 2022 – 2030
Research Nester published a report titled “Oxycodone Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global oxycodone market in terms of market segmentation by route of administration, application, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global oxycodone market is anticipated to attain a notable CAGR over the forecast period, i.e., 2022 – 2030. The market is segmented by route of administration into oral, intravenous, and others. Among these segments, the oral segment is anticipated to gain the largest market share over the forecast period owing to the safer action of oxycodone when administered orally. Moreover, the oxycodone tablets contain other drugs, which reduces the abuse potential of the drug, which is estimated to boost the segment growth.
The global oxycodone market is estimated to grow on the back of growing cases of cancer globally. As per the data by the National Cancer Institute, over 18.1 million new cases of cancer were reported globally in 2018. Moreover, the growing medical research activities, along with rising investment in the R&D activities in healthcare sector, are estimated to boost the market growth. Furthermore, oxycodone has lower abuse potential as compared to other opioids, which is projected to fuel the market growth.
On the basis of geographical analysis, the global oxycodone market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the rising cases of cancer in developed nations, along with the presence of major research institutes in the region,. According to the US National Cancer Institute, an estimated of 1,806,590 new cases of cancer were diagnosed in the United States in 2020. Moreover, high healthcare expenditure, and increasing R&D activities, are estimated to boost the market growth.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Rising Prevalence of Cancer Globally to Boost the Market Growth
According to the data by the World Health Organization (WHO), the cancer mortality rate grew from 9.6 million in 2018 to over 10 million in 2020.
Oxycodone is prescribed to cancer patients who experience extreme pain. It is generally given on a regular basis, as it is less addictive, when taken orally. Moreover, the growing demand for opium-based analgesics to relieve the pain for cancer patients is anticipated to boost the market growth.
However, the side effects and addictive nature of opioids are expected to operate as key restraint to the growth of global oxycodone market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global oxycodone market which includes company profiling of Thermo Fisher Scientific Inc., Boehringer Ingelheim GmbH, Bayer AG, Abbott Laboratories, Merck & Co., Inc., Esteve Pharmaceuticals, S.A., Validus Pharmaceuticals LLC, Teva Pharmaceutical Industries Ltd., and Siemens Healthcare GmbH. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global oxycodone market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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