Opioid Market Emerging as a Priority in Executive Healthcare Portfolios

The global opioid market size was estimated at USD 22.8 billion in 2022 and is projected to reach USD 25.3 billion by 2030, growing at a CAGR of 1.4% from 2023 to 2030. Market growth is primarily driven by the approval and launch of new opioid medicines for the treatment of chronic pain.

The elderly population is at high risk of chronic conditions such as cardiovascular diseases, arthritis, and cancer due to higher comorbidities. According to the World Health Organization (WHO), the global geriatric population increased from 1.0 million in 2020 to 1.4 million in 2021. Declining fertility and mortality rates are fueling this rise. Since the prevalence of chronic pain increases with age, particularly among adults 65 years and older, the growing elderly population is expected to increase demand for opioids in pain management.

However, concerns related to drug misuse and addiction may restrain market growth. According to the WHO, around 0.5 million people died from drug misuse in 2021. Additionally, the Millennium Health’s Signals Report (2020) highlighted a sharp increase in non-prescribed drug use during March–May 2020, with fentanyl rising by 32.0%, methamphetamine by 20.0%, and cocaine by 10.0%. Consequently, stricter regulations on opioid usage are expected to limit market expansion during the forecast period.

Key Market Trends & Insights

• North America dominated the market with the largest revenue share of 63.7% in 2022.
• By product: The ER/long-acting opioids segment accounted for the largest revenue share of 54.2% in 2022.
• By application: The pain relief segment led the market with a 66.4% revenue share in 2022.
• By route of administration: The injectable segment held the largest revenue share of 54.1% in 2022.
• By distribution channel: The retail pharmacy segment accounted for the largest revenue share of 57.0% in 2022.

Download a free sample PDF of the Opioid Market Intelligence Study, published by Grand View Research.

Market Performance

• 2022 Market Size: USD 22.8 Billion
• 2030 Projected Market Size: USD 25.3 Billion
• CAGR (2023–2030): 1.4%
• North America: Largest market in 2022
• Asia Pacific: Fastest-growing market

Prominent Companies & Market Dynamics

Leading players are pursuing mergers, acquisitions, and regional expansion strategies to strengthen their portfolios.

• August 2022: Adalvo acquired Onsolis, a branded opioid product indicated for managing chronic cancer pain, from a U.S.-based pharmacy company. This acquisition enhanced Adalvo’s opioid portfolio and provided growth opportunities.
• January 2022: Trevena, Inc. announced that China’s National Medical Products Administration (NMPA) accepted the New Drug Application for oliceridine injection, already FDA-approved in the U.S. for severe chronic pain requiring intravenous opioid analgesics.
• August 2022: Adalvo reaffirmed the acquisition of Onsolis, strengthening its cancer pain management portfolio and expanding its market presence.

Key Companies

• Purdue Pharma L.P.
• Johnson & Johnson Services, Inc.
• Hikma Pharmaceuticals PLC
• Pfizer, Inc.
• AbbVie Inc.
• Sanofi
• Sun Pharmaceutical Industries Ltd.
• Grünenthal

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Conclusion

The global opioid market is expected to witness modest growth, supported by the launch of new drugs and the rising geriatric population requiring chronic pain management. However, regulatory challenges and risks associated with misuse may limit expansion, prompting companies to balance innovation with strict compliance and safety measures.