OR WAIT 15 SECS
March 31, 2016.
Despite substance abuse concerns, the US market for opioids, which accounts for 70% of the global arena, is set to grow from $11 billion in 2014 to $17.7 billion by 2021, according to GBI Research.
The company’s CBR Pharma report states that this increase will primarily be down to a rising prevalence of chronic pain among the US population, owing to an aging population and an increasing incidence of diabetes, obesity, cardiovascular disorders, arthritis and cancer.
The US consumes 80% of the world’s legal and illegal opioids; they are the country’s most abused prescription drug. Trends also indicate that the use of weak opioids is declining, while the use of strong, more easily abused opioids is increasing.
GBI analust Deekshita Allavarapu commented: “The FDA has raised concerns over the high use, and the potential for misuse, of opioids. This could lead to the enforcement of regulatory checks that affect the opioid treatment market and its potential growth. The result of these possible market restrictions, however, is that opportunities may open up for the development of abuse-deterrent opioids and of products that treat or prevent overdoses."