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North America Synthetic Opioids Market Analysis | Coherent Market Insights

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North America Synthetic Opioids Market Analysis | Coherent Market Insights

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  1. Coherent Market InsightS Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker

  2. North America Synthetic Opioids Market Analysis (2020-2027) • Synthetic opioids are chemically manufactured narcotic drugs, which mimic the effects of natural opioids. Some of the common prescribed synthetic opioids include, Methadone, Fentanyl and Meperidine. Semi-synthetic opioids are synthesized from naturally occurring opium products, such as morphine and codeine, and include heroin, oxycodone, hydrocodone, and hydromorphone. • Statistics:   • North America synthetic opioids market is estimated to account for US$ 97.6 Bn in terms of value by the end of 2027.

  3. North America Synthetic Opioids Market: Drivers   • Increasing prevalence of cancer is expected to boost growth of North America synthetic opioids market over the forecast period. For instance, according to Breastcancer.org, in 2019, an estimated 268,600 new cases of invasive breast cancer were expected to be diagnosed in women in the U.S. along with 62,930 new cases of non-invasive (in situ) breast cancer. • Moreover, high incidence of HIV is also expected to aid in growth of the market. For instance, according to the Centers for Disease Control and Prevention (CDC), in 2018, 37,832 people received an HIV diagnosis in the U.S.

  4. s • U.S. held dominant position in North America synthetic opioids market in 2019, accounting for 90.0% share in terms of value, followed by Canada.

  5. Figure 1. North America Synthetic Opioids Market Share (%), by Region, 2019

  6. North America Synthetic Opioids Market: Restraints    • Use of synthetic opioids is associated with several side effects, which are expected to hinder growth of the market. For instance, use of Fentanyl may lead to vomiting, constipation, sedation, confusion, hallucinations, and injuries related to poor coordination. • Moreover, increasing number of deaths due to overdose of synthetic opioids is also expected to limit growth of the market. For instance, according to 2018 data of National Institute on Drug Abuse, overdose of opioids that mostly includes prescription pain relievers, heroin, and synthetic opioids such as fentanyl, leads to 128 deaths every day in the U.S.

  7. North America Synthetic Opioids Market: Opportunities     • Increase in the use of Fentanyl test strips is expected to offer lucrative growth opportunities for players in the market. For instance, according to a study by Johns Hopkins Bloomberg School of Public Health, in February 2018, 70% of people who use drugs would modify their drug use behaviors if their drugs tested positive for fentanyl. • Drug exclusivity for branded opioids is also expected to aid in growth of the market. The first company to file an ANDA (Abbreviated New Drug Application) with the FDA gains the opportunity to exclusively market the generic drug for 180 days. These types of marketing opportunities could be the target for market players to mitigate risks from competitive pressure commonly associated with commoditized generic product.

  8. Synthetic Opioids segment in North America synthetic opioids market was valued at US$ 6.3 Bn in 2019 and is expected to reach US$ 7.4 Bn by 2027 at a CAGR of 2.1% during the forecast period.

  9. Market Trends/Key Takeaways • Major economies are focused on strengthening regulations to prevent opioid exposures. For instance, in February 2020, the U.S. senate introduced the Synthetic Opioid Exposure Prevention and Training Act of 2020, to require Customs and Border Protection to issue safety protocols for handling synthetic opioids. • The number of deaths due to synthetic opioids is increasing in the U.S. For instance, according to the study, ‘ The Future of Fentanyl and Other Synthetic Opioids,’ published by RAND Corporation in 2019,  the number of deaths involving synthetic opioids increased from 3,000 in 2013 to more than 30,000 in 2018, in the U.S.

  10. Regulations • U.S. • Drug Enforcement Administration (DEA) • DEA is responsible for enforcing the controlled substances laws and regulations of the United States • It is responsible for the enforcement of the provisions of the Controlled Substances Act as they pertain to the manufacturing, distribution, and dispensing of legally produced controlled substances

  11. s • DEA reduced the amount of almost every Schedule II opiate and opioid medication that may be manufactured in the United States in 2017 by 25 percent or more • DEA’s Diversion Control Division is involved in preventing, detecting, and investigating the diversion of controlled pharmaceuticals and listed chemicals from legitimate sources while ensuring an adequate and uninterrupted supply for legitimate medical, commercial, and scientific needs

  12. Value Chain Analysis (Description or image) - Optional

  13. North America Synthetic Opioids Market: Competitive Landscape • Major players operating in North America synthetic opioids market include, Purdue Pharma LP, Pfizer Inc., Janssen Pharmaceuticals, Inc., Teva Pharmaceuticals, Endo International plc, West-Ward Pharmaceuticals, Mallinckrodt Pharmaceuticals plc, Mylan N.V., Impax Laboratories, Inc., and Indivior Plc.

  14. North America Synthetic Opioids Market: Key Developments • Major players in the market are focused on addressing opioid crisis. For instance, in August 2019, Purdue Pharma L.P. collaborated with National Center for Wellness & Recovery at Oklahoma State University for accelerating solutions to the opioid addiction crisis.

  15. Request sample copy here • Request PDF brochure here • Request Customization here • Talk to Analyst • Buy Now • Reference: • https://www.coherentmarketinsights.com/market-insight/north-america-synthetic-opioids-market-3660

  16. About Us: • Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. • What we provide: • Customized Market Research Services • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

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