Oxycodone Market: Current Analysis and Forecast (2024-2032)

Report Description

Oxycodone Market Size & Forecast

The Oxycodone Market was valued at approximately USD 5.4 Billion in 2023 and is expected to grow at a substantial CAGR of around 5.13% during the forecast period (2024-2032) owing to the prevalence of chronic pain conditions such as arthritis and back pain is increasing, leading to higher demand for pain management medications like oxycodone.

Oxycodone Market Analysis

Oxycodone is a strong semi-synthetic opioid analgesic of the 4-phenylpiperidine class that is utilized mainly for the control of moderate to severe pain. It falls in the category of opioids, which are analgesic in nature and function by attaching themselves to the opioid receptors in the central nervous system, thus reducing the perception of pain. Oxycodone is chemically related to morphine and synthesized from thebaine, an alkaloid that is occurring naturally in the opium poppy plant.

The rising prevalence of chronic pain cases and the incidence of cancer are driving the growth of the oxycodone market. As per the data of IARC, in May 2024, there were an estimated 19,976,499 cancer cases and 9,743,832 million deaths. The estimated number of people who were alive within 5 years following a cancer diagnosis was 53.5 million. About 1 in 5 people develop cancer in their lifetime; approximately 1 in 9 men and 1 in 12 women die from the disease. There is a growing focus on expanding access to treatment for individuals struggling with opioid use disorder. This includes increasing the availability of medications such as buprenorphine and methadone, which can help reduce cravings and withdrawal symptoms. For instance, on May 06, 2024, Purdue Pharma L.P. announced that the company has partnered with MMCAP Infuse to provide buprenorphine and naloxone tablets CIII (generic Suboxone), a medication for opioid use disorder (“MOUD”), at low cost to correctional facilities for incarcerated individuals with opioid use disorder.

Oxycodone Market Trends

This section discusses the key market trends influencing the various segments of the oxycodone market as identified by our research experts.

Pain Management Oxycodone Transforming Industry

The pain management held a dominant share of the market in 2023. The rise in the prevalence of chronic illnesses like arthritis, fibromyalgia, and neuropathic pain has also contributed to the demand for pain relief products, which in turn has created the demand for oxycodone. For instance, from 2019 to 2021 in the United States (NHIS), around 5.4% of adults 18 to 44 years old reported arthritis, and Among adults aged 45 to 64 years, one-in-four (26.0%) reported doctor-diagnosed arthritis. Furthermore, improvements in the utilization of opioids for pain management and increasing awareness of the need to manage pain to enhance patient outcomes have made opioids such as oxycodone more accessible and appropriately used than in the past.

North America leads the market in 2023

The North American market dominated the oxycodone market in 2023 because of the well-developed healthcare sector coupled with high incidences of chronic pain. The growing occupancy of the aged in North America remains a factor in the rising incidences of chronic pain-associated conditions, including arthritis and neuropathic pain, and, thus, a rising need for strong opioids like oxycodone. The FDA and other regulatory organizations are also very influential in North America, and they have specific responsibilities of supervising and approving the oxycodone products in the market. For instance, in March 2022, following its assessment, the FDA thus concluded that the reformulated OxyContin has abuse resistance characteristics and therefore approved the new labeling, which states that the product has physical and chemical attributes that are supposed to render it difficult for injection and less suitable for intranasal abuse. Further, there are significant changes in its approach to pain management systems and new formulations of opioids that minimize the chance of addiction.

Oxycodone Industry Overview

The Oxycodone market is competitive, with several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market are Purdue Pharma L.P.; Johnson & Johnson Services, Inc.; Teva Pharmaceutical Industries Ltd; Endo, Inc.; Mallinckrodt company; Lannett; Pfizer Inc.; Amneal Pharmaceuticals LLC; Indivior PLC; Teikoku Seiyaku Co., Ltd.

Oxycodone Market News

On May 06, 2024, Purdue Pharma L.P. announced that the company has partnered with MMCAP Infuse to provide buprenorphine and naloxone tablets CIII (generic Suboxone), a medication for opioid use disorder (“MOUD”), at low cost to correctional facilities for incarcerated individuals with opioid use disorder.

On March 29, 2023, The U.S. Food and Drug Administration approved Narcan, 4 milligram (mg) naloxone hydrochloride nasal spray for over-the-counter (OTC), nonprescription, use – the first naloxone product approved for use without a prescription. Naloxone is a medication that rapidly reverses the effects of opioid overdose and is the standard treatment for opioid overdose.

On June 21, 2022, Purdue Pharma L.P. announced that Nalmefene Hydrochloride injection, 2mg/2mL (1mg/1mL) was available in the U.S. for use by healthcare professionals. In February 2022, FDA approved Purdue’s abbreviated new drug application (ANDA) for nalmefene hydrochloride injection for the treatment of known or suspected opioid overdose with natural or synthetic opioids.

Oxycodone Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global Oxycodone market can be customized further as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Oxycodone Market Analysis (2024-2032)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global Oxycodone market were the three major steps undertaken to create and analyze the adoption of Oxycodone in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Oxycodone market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Oxycodone market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Oxycodone market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, application, distribution channel, and regions. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Oxycodone market. Further, we conducted factor analysis using dependent and independent variables such as type, application, distribution channel, and regions of the Oxycodone market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Oxycodone market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Oxycodone market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2032 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the Oxycodone market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global Oxycodone market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

 Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global oxycodone market. Data was split into several segments and sub-segments after studying various parameters and trends in the type, application, distribution channel, and regions of the global oxycodone market.

The main objective of the Global Oxycodone Market Study

The current & future market trends of the global Oxycodone market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the Oxycodone market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
• Segments in the study include areas of the type, application, distribution channel, and regions.
• Define and analysis of the regulatory framework for the Oxycodone
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the Oxycodone market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the Oxycodone market and the growth strategies adopted by the market players to sustain in the fast-growing market.
• Deep dive regional level analysis of the industry

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