Oxycodone Market Size to Reach USD 7.49 Billion in 2028, Says Reports and Data
Rising preference for opioid therapy for management of post-operative pain and chronic pain, increasing use of oxycodone to relieve pain and suffering, and growing incidence of chronic pain across the globe are some key factors expected to drive market growth
The global oxycodone market size is expected to reach USD 7.49 Billion in 2028 and register a CAGR of 4.6% during the forecast period, according to the latest report by Reports and Data. Increasing use of oxycodone to treat mild and moderate acute pain after dental procedures, significantly higher bioavailability of oxycodone as compared to morphine, and development of robust oxycodone formulations to reduce its abuse potential are key factors expected to drive market revenue growth over the forecast period. Oxycodone extended-release formula results in delayed absorption of oxycodone and thus has a lower abuse potential as compared to immediate-release oxycodone. Increasing use of extended- and controlled-release oral formulations of oxycodone to manage moderate to severe pain is another key factor expected to drive revenue growth of the market going ahead.
Oxycodone is a semisynthetic opioid that causes hyperpolarization and reduced excitability of neurons in the Central Nervous System (CNS). It is an opioid agonist prescription medication that is widely used for conditions that need opioid medication and cannot be treated with other treatments. The extended-release formula of oxycodone is approved by USFDA for management of chronic pain that requires continuous long-term opioid treatment. Oxycodone is majorly available in tablet, capsule, and oral solutions, and is primarily administered through oral route. Oxycodone is also available in combination with other analgesics such as acetaminophen, aspirin, and ibuprofen. Clinical evidence suggests long-term opioid therapy helps patients with chronic pain to have a better quality of life, use lesser healthcare facilities, and improve productivity. Need for efficient pain management therapies is resulting in increasing use of opioid drugs such as oxycodone and this is expected to further drive revenue growth of the market going ahead.
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Addiction and dependence is a major consequence of medical use of opioids due to increasing incidence of pain resulting from opioid-induced neurophysiological changes with CNS depression. Increasing side effects of oxycodone such as constipation, photosensitivity, bradycardia, hypotension, hallucination, respiratory depression, and death by overdose are factors that can limit usage of oxycodone and implementation of stringent approval policies are some key factors that could restrain market growth to a certain extent over the forecast period.
Some Key Highlights from the Report:
- Short-acting oxycodone segment is expected to account for largest revenue share during the forecast period. Increasing use of short-acting oxycodone for management of transient pain such as chronic, acute or intermittent pain, rising preference for short-acting opioids for initial therapies, and growing prescription of short-acting oxycodone for chronic cancer pain management are key factors expected to drive revenue growth of the short-acting segment.
- Among the route of administration, oral segment is expected to account for largest revenue share during the forecast period. Oxycodone has been widely administered through oral route owing to its higher bioavailability and enhanced absorption. Extended-release tablets have been extensively used to treat moderate to severe pain and are highly effective in relieving acute postoperative pain and these factors are expected to drive revenue growth of the oral segment.
- Pain management segment is expected to register robust revenue CAGR over the forecast period attributable to increasing use of oxycodone alone or in combination with other analgesics for the treatment of acute and chronic pain, rising prevalence of severe illnesses and chronic pain among individuals across the globe, and increasing focus on opioid therapy in cases where other treatments are ineffective.
- Retail pharmacies segment is expected to account for a considerably large revenue share between 2021 and 2028 attributed to increasing availability of over-the-counter opioid drugs, large network of retail pharmacies, and access to specialists who offer in-depth information about oxycodone and other opioids to customers and patients.
- Asia Pacific market is expected to register a significantly fast revenue CAGR over the forecast period owing to increasing consumption of opioid drugs due to rising prevalence of chronic conditions, growing investment and expenditure to develop robust healthcare facilities, and rising incidence of chronic pain among geriatric population.
- Key companies profiled in the global market report include Johnson & Johnson, Sanofi, Pfizer, Purdue Pharma, Endo International, Teva Pharmaceuticals, Hikma Pharmaceuticals, Mallinckrodt, Mylan, Sun Pharmaceutical, Impax Laboratories, and Indivior.
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For the purpose of this report, Reports and Data has segmented the global oxycodone market based on type, route of administration, application, distribution channel, and region:
Type Outlook (Revenue, USD Billion; 2018-2028)
- Short-acting Oxycodone
- Long-acting Oxycodone
Route of Administration Outlook (Revenue, USD Billion; 2018-2028)
Application Outlook (Revenue, USD Billion; 2018-2028)
- Pain Management
- Cancer Pain Management
- Neuropathic Pain Management
- Osteoarthritis Pain Management
- Other Pain Management
Distribution Channel Outlook (Revenue, USD Billion; 2018-2028)
- Hospital Pharmacies
- Retail Pharmacies
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Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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