Canada opioid drugs market is projected to grow from $xx Mn in 2022 to $xx Mn by 2030, registering a CAGR of xx% during the forecast period of 2022 – 2030. The opioid industry is anticipated to rise as a result of expanding painkiller care facilities, altered prescription laws, and intense generic manufacturers' attention on Abuse-Deterrent Formulation (ADF). The major players in this market are Eva Pharmaceuticals Inc., Mallinckrodt Pharmaceuticals, Amneal Pharmaceuticals Inc., Hikma Pharmaceuticals PLC, and Purdue Pharmaceuticals L.P.
Canada Opioid Drugs Market is valued at around $2279.5 Mn in 2022 and is projected to reach $2923.7 Mn by 2030, exhibiting a CAGR of 3.16% during the forecast period 2023-2030.
Opioids are regarded as the most successful medications for treating pain. Additionally, the majority of the globe considers their usage in the treatment of chronic pain to be normal practice. Throughout the projection period, the market for opioids is anticipated to expand due to an increase in the burden of medical conditions. When it comes to reducing moderate to severe pain, opioids are very effective. They reduce the experience of pain by attaching to opioid receptors in the brain, spinal cord, and other areas of the body. When someone is in excruciating pain following surgery, an injury, or a medical condition like cancer, opioids can be a lifesaver. They can also be applied in palliative care to lessen suffering towards the end of life. The opioid industry is anticipated to rise as a result of expanding painkiller care facilities, altered prescription laws, and intense generic manufacturers' attention on the Abuse Deterrent Formulation (ADF). The major players in this market are Eva Pharmaceuticals Inc., Mallinckrodt Pharmaceuticals, Amneal Pharmaceuticals Inc., Hikma Pharmaceuticals PLC, and Purdue Pharmaceuticals L.P.
Market Growth Drivers
The key factors driving the market's rise are an increase in the usage of these medicines and an increase in the older population, who are particularly susceptible to orthopedic pain. Additionally, the number of people who suffer from chronic pain has significantly increased globally. This is expected to contribute to the global opioid market's expansion.
Market Restraints
Stronger regulations and restrictions have been implemented by governments and regulatory authorities regarding the prescription and distribution of opioids. With these measures, opioid overprescribing, inappropriate use, and trafficking into the black market are all to be decreased. Increased regulation and monitoring may make opioids less available and accessible, especially for non-medical uses. Alternatives to opiate pain relief have come into greater emphasis in recent years. Alternative therapies like physical therapy, cognitive-behavioral therapy, acupuncture, and non-opioid painkillers are being researched and promoted by healthcare professionals. This transition away from ad hoc pain management techniques attempts to lessen reliance on opioids and lower the market demand for them.
Key Players
1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country
2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)
3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints
4. Competitive Landscape
4.1 Major Market Share
4.2 Key Company Profile (Check all Companies in the Summary Section)
4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)
5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment
6. Methodology and Scope
By Product Type
By Receptor Binding
By Applications
Methodology for Database Creation
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