US Opioid market to hit $17.7 bn by 2021

The US market for opioids, which accounts for 70% of the global arena, will grow from $11 billion in 2014 to $17.7 billion by 2021, at a compound annual growth rate of 7%, according to business intelligence provider GBI Research

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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.

Ms Deekshita Allavarapu, Analyst for GBI Research, explains: "Approximately 116 million Americans experienced chronic pain in 2014, which is higher than the incidence of diabetes, heart disorders and cancer combined, and as many as 25 million people experienced moderate to severe pain with significant pain-related activity limitations and diminished quality of life.

"For many sufferers, therefore, the prescription and use of opioids such as hydrocodone, oxycodone, fentanyl, or morphine, provides a welcome solution, but brings with it problems associated with substance abuse and dependence, as explored in GBI Research's recent report, ‘Substance Abuse Deterrents and Treatments'."

The US consumes 80% of the world's legal and illegal opioids.

They are highly addictive and the country's most abused prescription drug.

 

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