The global oxycodone hydrochloride market size was evaluated at $401.63 million in 2022 and is slated to hit $578.94 million by the end of 2030 with a CAGR of nearly 4.66% between 2023 and 2030.
The opium alkaloid oxycodone is processed into a white, odorless, crystalline powder called oxycodone hydrochloride. Oxycodone hydrochloride is produced by reacting oxycodone with hydrochloric acid, as reported by NCBI. In case you were wondering, it’s an opioid analgesic used to treat moderate to severe pain. In addition, oxycodone hydrochloride can be used to treat coughs and relieve pain. Furthermore, oxycodone hydrochloride is suggested for people who do not react to other pain medications or for whom other non-opioid pain medicines have proven ineffectual in treating and reducing pain.
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???? Major Takeaways
• Our research analyst has revealed that the global market for oxycodone hydrochloride is expected to increase at a CAGR of 4.66 percent from 2023 to 2030.
• The global oxycodone hydrochloride market was worth roughly $401.63 million in 2022 and is projected to reach $578.94 million by 2030, according to a research report.
• Rising surgical volumes are driving up demand for oxycodone hydrochloride as an analgesic opioid, which in turn is expected to propel the worldwide oxycodone hydrochloride market to new heights throughout the forecast period.
➤ An increase in surgical procedures around the world could drive economic growth
As the number of surgical procedures performed annually rises, so does the need for the analgesic opioid oxycodone hydrochloride. The global market for oxycodone hydrochloride will grow as a result of this. The growing prevalence of chronic pain in the elderly population will drive worldwide demand to new heights. Healthcare facilities all over the world, including hospitals, ambulatory surgery centers, and specialized clinics, have a pressing need to enhance patient management activities and a strong desire for pain-alleviating medications. This will drive worldwide market trends. Launching new products is a common tactic used by corporations to increase their bottom lines. Such shifts are also projected to be the primary driver of the global market’s explosive expansion.
For instance, in July 2022, SEGLENTIS®, an opioid agonist & anti-inflammatory drug used to treat patients with acute pain, was released by Kowa Pharmaceuticals America, Inc., a prominent U.S.-based corporation specializing on developing anti-inflammatory medicines.
➤ Drugs’ analgesic properties might cause depression, which can slow the growth of the sector worldwide
The substance has a depressant impact on the medulla and has been linked to a variety of negative side effects, including sedation, constipation, euphoria, respiratory problems, anxiety reduction, and miosis. The growth of the worldwide market for oxycodone hydrochloride may be hampered in the long run by the aforementioned concerns.
➤ Rising product demand for chronic disease management may open up fresh markets around the world
The global oxycodone hydrochloride market will expand into new opportunities as the number of prescriptions written by doctors to treat patients’ pain increases. Market expansion will also be influenced by the rising need for medicines to treat acute pain in patients following surgical procedures.
➤ Global industry growth may be threatened by strict government rules regarding the use of pharmaceuticals in the European Union and North American countries
The worldwide oxycodone hydrochloride market is expected to face significant growth barriers in the future years as a result of strict government regulations pertaining to the prescription and use of the drug for reducing pain in patients. The potential for a wide range of unwanted effects from taking these medications is another threat to the industry’s global expansion in the coming years.
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The Global Oxycodone Hydrochloride Market is segmented based on product, application and region
Global Oxycodone Hydrochloride Market: Product Segment Analysis
● Controlled-Release
● Immediate-Release
Global Oxycodone Hydrochloride Market: Application Segment Analysis
● Hospitals
● Retail Pharmacies
The global oxycodone hydrochloride market profiles key players such as:
● Eli Lilly and Co
● Gilead Sciences Inc
● Manus Aktteva Biopharma LLP
● Arevipharma
● Saneca Pharma
● Cipla Ltd
● Noramco
● Macfarian Smith
● Teva Pharmaceutical Industries Ltd
● Taj Pharma
● Chattem Chemicals Inc
● Mayne Pharma Group Limited
● Dr. Reddy’s Laboratories Ltd
● Siegfried
● Rhodes Pharmaceuticals
● Mallinckrodt Plc
● Johnson & Johnson
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➤ North America is likely to establish a numero uno position in the global market over 2023-2030
North America, which accounted for half of the global oxycodone hydrochloride market share in 2022, will be the leading region during the assessment period. Moreover, the growth of the regional market over the anticipated timeline can be subject to a rise in the prescription of the drug for treating moderate & severe pain resulting from arthritis, bursitis, cancer, and neuralgia in countries such as the U.S. Reportedly, the U.S. FDA has approved the drug for effectively managing pain. Additionally, the presence of key pharmaceutical firms such as Merck & Co Inc., Pfizer, Inc., Amgen Inc., and EVERSANA in the U.S. will contribute majorly towards the regional market trends.
The Asia-Pacific oxycodone hydrochloride industry is set to register the highest CAGR over the forecast timeframe owing to the presence of a large patient population pool suffering from chronic ailments and in need of reducing pain. Apart from this, liberal laws in the emerging economies of the region towards the use of the drug for treating moderate to severe pain will further enlarge the scope of the demand for oxycodone hydrochloride in the sub-continent. Furthermore, countries such as China and India are slated to be the key regional revenue pockets in the upcoming years.
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