Oxycodone Drugs Market Size
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.60 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Oxycodone Drugs Market Analysis
The oxycodone drugs market is expected to witness growth at a CAGR of 5.6% during the forecast period.
The COVID-19 pandemic impacted the studied market significantly. Owing to the disruption in the supply chain around the world, the pandemic invariably affected the availability of a wide range of drugs and medical supplies, which adversely impacted the market growth during the initial phases of the pandemic. However, the use of oxycodone drugs for pain management during the COVID-19 pandemic increased due to its pain-relieving properties. For instance, an article published in NCBI in December 2021 indicated that oxycodone was used as an analgesic due to the minimal immunosuppressive characteristics of the drug, and the use of the drug substantially increased in the United States and Canada during the pandemic. Thus, such widespread use of oxycodone drugs significantly added to the growth of the market during the COVID-19 pandemic. Therefore, the studied market was impacted significantly by the pandemic considerably and it is expected to continue its strong hold over the forecast period.
The major factors attributing to the growth of the market are a rise in the incidence of chronic pain diseases, such as rheumatoid arthritis (RA), cancer, lower back pain, and fibromyalgia.
There is a burden of RA across countries, globally. For instance, according to the 2022 update of the National Rheumatoid Arthritis Society (NRAS), nearly more than 400,000 people in the United Kingdom had RA in 2021 and it is 2 to 3 times more common in women than in men. This burden of RA is creating demand for opioids such as Oxycodone/acetaminophen. These opioids are prescribed to patients at low dosages for the treatment of chronic pain due to RA. These drugs act as a better alternative to non-steroidal anti-inflammatory drugs (NSAIDs). Thus, this prevalence of several diseases and increasing demand for oxycodone drugs for treatment purposes is expected to contribute to the overall, market growth
Moreover, there has been an increase in investments in research on oxycodone drugs and a rise in the number of clinical trials focusing on oxycodone. For instance, in August 2022, the Third People's Hospital of Chengdu initiated a clinical trial in which the use of oxycodone for pain treatment after bariatric surgery was studied. Such clinical trials focusing on oxycodone drugs are expected to boost the growth of the studied market.
Therefore, due to the rising adoption of the oxycodon drugs for pain management and growing product developemnt, the studied market is anticipated to witness growth during the forecast period. However, the risk of complications associated with the drugs and stringent regulations on drug approval is anticipated to hinder the market growth over the forecast period.
Oxycodone Drugs Market Trends
This section covers the major market trends shaping the Oxycodone Drugs Market according to our research experts:
Short-acting Drugs are Expected to Hold the Major Market Share Over the Forecast Period
Short-acting drugs are those which are effective immediately after being administered and require repeated dosages in long-term treatment. Short-acting drugs are expected to account for the largest market revenue share during the forecast period. This dominance is owing to their usage as primary line treatment used by physicians. Furthermore, increased demand for these products can be attributed to the rise in the prevalence of side effects of PR formulations. These PR formulations may lead to protracted adverse events among oxycodone-naive patients, and elderly patients who are in the initial stage of medication.
The utilization of short-acting drugs in cancer pain management has been on the rise in recent times. For instance, an article published in April 2021 in the Cancer Journal, indicated that short-acting oxycodone drugs were prescribed for over 53.8% of patients with advanced cancer. Thus, such instances in the application of short-acting opioids for pain management are generating demand for the product type and are expected to boost the growth of the segment.
Similarly, the rising number of cancer cases around the world, which boost the use of short-acting opioids is expected to add to the growth of the studied segment. According to an article published in the National Library of Medicine in February 2021, short-acting, immediate-release opioids are usually prescribed for breakthrough pain in cancer patients Thus, the increasing number of cancer cases is likely to boost segmental growth. Therefore, owing to the increasing adoption of short acting drugs, the studied segment is expecetd to witness growth over the forecast period.
North America is Expected to Hold the Largest Market Share over the Forecast Period
North America holds a major market share and is expected to continue its strong hold over the forecast period. Factors such as the rise in the number of cancers, RA, osteoarthritis, and other diseases that necessitate the prescription of these drugs for pain management contribute to the studied market growth in the region.
The upsurge in cancer cases across the countries such as the United States and Mexico is likely to boost the growth of the market in North America. For instance, the 2022 data published by the American Cancer Society (ACS) estimated that there will be 1.9 million new cancer cases in the United States in 2022. Furthermore, according to the National Cancer Institute (NCI), breast cancer is the most common cancer, with 290,560 new cases projected in the United States in 2022.
In addition, according to the 2022 World Cancer Research Fund International (WCRF) report, nearly 101,703 cancer cases were diagnosed among women where the age-standardized rate (ASR) was 137.4 per 100,000 population in Mexico. The report also stated that the cancer rate was lower among men than women in the country where the ASR was 62.6 per 100,000 population, still, it is raising the cancer burden. As chronic non-malignant pain is common in cancer patients, most often cancer patients are prescribed opioid medication. Thus, huge acceptance and prescription of these medications indicate new opportunities for oxycodone drugs, further fueling the growth of the market.
Furthermore, oxycodone has been widely prescribed for pain management in RA and osteoarthritis patients. As the burden of these orthopedic diseases is increasing across North America, the demand for oxycodone drugs is increasing. For instance, according to the 2021 report published by the Arthritis Community Research and Evaluation Unit (ACREU), around 15% of Canadians aged 20 years and above had osteoarthritis in 2021. The above source further stated that more than 4 million Canadians, or about 1 in every 7 adults, have osteoarthritis in Canada. Thus, the high burden of orthopedic disorders is expected to boost the demand for pain management drugs. This is predicted to garner overall, market growth in the region. Thus, the rising burden of RA, osteoarthritis, and cancer is among the other major factors that are anticipated to drive market growth during the forecast period in North America.
Oxycodone Drugs Industry Overview
The oxycodone drug market is moderately competitive and consists of several major players. In terms of market share, a few of the major players are currently dominating the market. Some prominent players are developing new products with lesser side effects propelled by favorable accelerated drug approval initiatives for abuse-deterrent formulations (ADFs) by the USFDA. Some of the companies which are currently dominating the market are Sun Pharmaceutical Industries Ltd, Collegium Pharmaceutical Inc., Endo Pharmaceuticals Inc., Teva Pharmaceutical Industries Ltd, and Mallinckrodt Pharmaceuticals.
Oxycodone Drugs Market Leaders
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Teva Pharmaceutical Industries Ltd
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Sun Pharmaceutical Industries Ltd
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Endo Pharmaceuticals Inc
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Collegium Pharmaceutical Inc
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Mallinckrodt Pharmaceuticals
*Disclaimer: Major Players sorted in no particular order
Oxycodone Drugs Market News
- In August 2022, the General Hospital of Ningxia Medical University in China sponsored a clinical trial to investigate the effect of oxycodone hydrochloride on catheter-related bladder discomfort in patients undergoing transurethral resection of bladder tumors after general anesthesia.
- In July 2022, Protega Pharmaceuticals LLC launched the RoxyBond (oxycodone) immediate-release (IR) tablets in the United States. RoxyBond is an opioid agonist indicated for the management of pain severe enough to require an opioid analgesic and for which alternative treatments are inadequate.
Oxycodone Drugs Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Investments in R&D and Clinical Trials by Key Players
4.2.2 Favorable Initiatives by FDA to Develop Abuse-Deterrent Formulations (ADFs)
4.3 Market Restraints
4.3.1 High Risk of Complications Associated with the Medication
4.3.2 Challenges in Development Stage and Stringent Regulatory Framework
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - in USD Millions)
5.1 Product Type
5.1.1 Short-acting
5.1.2 Long-acting
5.2 Distribution Channel
5.2.1 Hospital Pharmacies
5.2.2 Retail Pharmacies
5.2.3 Online Pharmacies
5.3 Geography
5.3.1 North America
5.3.1.1 United states
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Sun Pharmaceutical Industries Ltd
6.1.2 Collegium Pharmaceutical Inc.
6.1.3 Endo Pharmaceuticals Inc.
6.1.4 Teva Pharmaceutical Industries Ltd
6.1.5 Mallinckrodt Pharmaceuticals
6.1.6 Akrimax Pharmaceuticals LLC
6.1.7 Amneal Pharmaceuticals Inc.
6.1.8 Zyla Life Sciences (Egalet Corporation)
6.1.9 Purdue Pharma LP
6.1.10 Mundipharma Pty Limited
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Oxycodone Drugs Industry Segmentation
As per the scope of the report, oxycodone is an opioid medication used for the treatment of moderate to severe pain. These medications decrease the transmission of signals from the brain to the body parts. It comes under narcotic drugs and is a prescription medicine that is approved in combination with non-opioid medications. These drugs are available as short-acting or immediate-release (IR) and long-acting or prolonged-release (PR) formulations in various dosage forms. The oxycodone drugs market is segmented by product type (short-acting and long-acting), distribution channel (hospital pharmacies, retail pharmacies, and online pharmacies), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends of 17 countries across major regions, globally. The report offers the value (in USD million) for the above segments.
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Oxycodone Drugs Market Research FAQs
What is the current Oxycodone Drugs Market size?
The Oxycodone Drugs Market is projected to register a CAGR of 5.60% during the forecast period (2024-2029)
Who are the key players in Oxycodone Drugs Market?
Teva Pharmaceutical Industries Ltd, Sun Pharmaceutical Industries Ltd, Endo Pharmaceuticals Inc, Collegium Pharmaceutical Inc and Mallinckrodt Pharmaceuticals are the major companies operating in the Oxycodone Drugs Market.
Which is the fastest growing region in Oxycodone Drugs Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Oxycodone Drugs Market?
In 2024, the North America accounts for the largest market share in Oxycodone Drugs Market.
What years does this Oxycodone Drugs Market cover?
The report covers the Oxycodone Drugs Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the Oxycodone Drugs Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Oxycodone Drugs Industry Report
Statistics for the 2024 Oxycodone Drugs market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Oxycodone Drugs analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
