Narcotic Drugs Market Insights 2025-2034: Growth Dynamics, Trends, and Strategic Opportunities
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What key factors are powering the surge in the Narcotic Drugs market right now?
The market size of narcotic drugs has been experiencing consistent growth over the recent years. It is expected to rise from $14.26 billion in 2024 to $14.85 billion in 2025, at a compound annual growth rate (CAGR) of 4.1%. Factors contributing to this growth during the historic period include escalating medical requirements, growing public health apprehensions, enhanced access to healthcare, increasing instances of chronic pain, and impactful government measures to better pain management.
How fast Is the narcotic drugs market expected to grow, and what’s its future value?
In the coming years, the size of the narcotic drugs market is anticipated to grow steadily. An increase to $17.79 billion by 2029 is predicted, with a compound annual growth rate (CAGR) of 4.6%. This escalation during the forecast period can be credited to a rising demand for generic narcotic drugs, expansion of the pharmaceutical sector, the proliferation of minimally invasive surgeries, and an increase in the utilization of narcotic drugs in palliative care. Further, primary trends projected during this period embrace pharmaceutical advancements, the evolution of telemedicine and remote monitoring, the introduction of alternatives to non-opioid drugs, and the implementation of artificial intelligence (AI) in drug discovery and development.
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What are the leading drivers of growth in the narcotic drugs market?
The surge in chronic diseases is predicted to stimulate the expansion of the narcotic drug market. Chronic diseases, which can worsen over time, are health conditions that persist for three months or more. Narcotic drugs serve a crucial role in managing these diseases by providing relief from conditions like cancer, chronic pain syndrome, terminal illness, and severe arthritis. For example, the National Health Service, a government department in the UK, reported that in 2023, an additional 549,000 individuals in England were found to be at risk of type 2 diabetes, pushing the total count of individuals with non-diabetic hyperglycemia or pre-diabetes registered with a GP to 3,615,330 as of June 2024. This demonstrates a notable boost from the 3,065,825 count in 2022, marking an increase of almost 20%. As such, the escalating prevalence of chronic diseases fuels the growth of the narcotic drug market. Growing use of opioids as prescribed medication is anticipated to enhance the growth rate of the narcotic drug market over time. Opioids are a group of substances that include both listed medications and illicit drugs, known for inducing feelings of euphoria, calm, and sedation. The heightened use of opioids as a prescribed drug is factoring into the consumption of narcotic drugs, largely due to the opioids’ strong analgesic and tranquilizing properties which are particularly effective when alternative pain management strategies don’t suffice. For instance, in May 2024, information from the Australian Institute of Health and Welfare revealed that on a particular day in 2023, there were 53,272 people receiving pharmacotherapy for opioid dependence in Australia (excluding Western Australia), which equates to a rate of 22 clients per 10,000 people. Thus, the rising use of opioids as prescribed medicine contributes to the expansion of the narcotic drugs market.
What are the key segments defining the narcotic drugs market?
The narcotic drugs market covered in this report is segmented –
1) By Drug: Opium, Heroin, Codeine, Oxycodone, Other Drugs
2) By Source: Natural, Semi-Synthetic, Synthetic
3) By Indication: Pain Management, Cough, Diarrhea, Dysentery, Asthma, Other Indications
4) By Distribution Channel: Hospital Pharmacy, Online Pharmacy, Retail Pharmacy
5) By End User: Hospitals, Homecare, Specialty Clinics, Other End Users
Subsegments:
1) By Opium: Raw Opium, Opium Extracts, Opium Derivatives
2) By Heroin: Diacetylmorphine, Heroin Hydrochloride, Heroin Acetate
3) By Codeine: Codeine Phosphate, Codeine Sulfate
4) By Oxycodone: Oxycodone Hydrochloride, Oxycodone Acetaminophen, Controlled-Release Oxycodone
5) By Other Drugs: Fentanyl, Morphine, Hydromorphone, Methadone, Buprenorphine
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Who are the key players steering the development of the narcotic drugs market?
Major companies operating in the narcotic drugs market are Pfizer Inc., Johnson and Johnson Limited, AbbVie Inc., Novartis AG, AstraZeneca PLC, Sanofi S.A., Takeda Pharmaceutical Company Limited, Boehringer Ingelheim International GmbH, Viatris Inc., Teva Pharmaceutical Industries Ltd., Daiichi Sankyo Company Limited, Sun Pharmaceutical Industries Ltd., Purdue Pharma LP, Hikma Pharmaceuticals PLC, Endo Pharmaceuticals Inc., Amneal Pharmaceuticals LLC, Lupin Ltd., Mallinckrodt Pharmaceuticals, Alvogen Inc., Indivior Inc., Impax Laboratories Inc., Collegium Pharmaceutical Inc., Lannett Co Inc., Par Pharmaceutical Inc., West-Ward Pharmaceuticals Corp.
What emerging trends are influencing the growth of the narcotic drugs market?
Prominent companies in the narcotic drug market are intensifying their efforts on product development and innovation to deliver trustworthy products to their clients and fortify their market stance. An example of this is from May 2023 when Indivior PLC, a pharmaceutical firm based in the US, unveiled OPVEE (nalmefene) nasal spray. This nasal spray serves as a lifesaving medicine for opioid overdose from natural and synthetic opioids like fentanyl. The guidance is to instantaneously administer it for confirmed or potential opioid overdoses from natural or synthetic opioids in adults and children aged 12 and older, determined by central nervous system and respiratory depression.
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Which regions are most influential in expanding the narcotic drugs market?
Asia-Pacific was the largest region in the narcotic drugs market in 2024. The regions covered in the narcotic drug market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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