North America Synthetic Opioids Market to Deliver Greater Revenues during the Forecast Period Until 2027

SEATTLE, May 04, 2021, (PHARMIWEB) —

Pain relief is provided by synthetic opioids. Synthetic opioids have a similar effect on the body as other opioids. Opioid receptor agonists function mainly on the brain and spinal cord in these drugs. Synthetic opioids have a greater effectiveness over most pain relievers, such as nonsteroidal anti-inflammatory medications.

North America synthetic opioids market is expected to account around US$ 97.6 Bn in terms of value by the end of 2027.

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North America Synthetic Opioids Market: Drivers  

Growing use of synthetic opioids for the cancer pain treatment expected to drive growth of North America synthetic opioids market during the forecast period. For instance, in medication, fentanyl is the most commonly used synthetic opioid. For cancer pain, fentanyl patches have been added to the World Health Organization’s List of Essential Medicines.

North America Synthetic Opioids Market: Opportunities    

Improved company operations are expected to pose attractive growth opportunities for market participants. Strategic investments, licensing deals, and acquisitions will help market players grow their businesses. Branded players will be able to improve their R&D initiatives and introduce new products with improved formulations, while generic producers will be able to diversify their portfolio.

North America Synthetic Opioids Market: Restraints   

Stringent regulations and laws to curb the use of synthetic opioids are expected to hamper growth of the North America synthetic opioids market. For instance, in April 2019, China has declared a ban on all fentanyl varieties. China is a major source of fentanyl, which has resulted in many deaths in the United States.

Market Trends

The use of fentanyl analogues is prohibited in the United States. The Drug Enforcement Administration (DEA) imposed a “class-wide” ban on all fentanyl analogues in February 2018.

Researchers are concentrating their efforts on creating methods to increase the protection of opioids. For instance, in August 2019, Scripps Research Institute researchers revealed the discovery of a biological mechanism that controls cells’ reaction to opioid drug exposure.

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Food and Drug Administration (FDA)

• The mission of U.S. FDA’s Center for Drug Evaluation and Research (CDER) is to ensure that drugs marketed in U.S. are safe and effective
• It has responsibility for both prescription and nonprescription or over-the-counter (OTC) drugs
• In response to the current opioid crisis, the FDA has established a far-reaching action plan to reassess the agency’s approach to opioid medications. The plan focuses on policies aimed at reversing the epidemic, while still providing patients access to effective therapies for pain management.
• In March 2016, the U.S. FDA issued a draft guidance titled “General Principles for Evaluating the Abuse Deterrence of Generic Solid Oral Opioid Drug Products.” This guidance recommends studies a generic applicant should conduct so FDA can evaluate the abuse deterrence of certain generic opioid drug products and help ensure that generic versions of approved opioids with abuse-deterrent formulations (ADFs) are no less abuse-deterrent over the brand named drug.

North America Synthetic Opioids Market: Competitive Landscape

Key players are dominating in North America synthetic opioids market such as, Pfizer Inc., Purdue Pharma LP, Teva Pharmaceuticals, Janssen Pharmaceuticals, Inc., West-Ward Pharmaceuticals, Endo International plc, Mallinckrodt Pharmaceuticals plc, Impax Laboratories, Inc., Mylan N.V., and Indivior Plc.

North America Synthetic Opioids Market: Key Developments

September 2019: Purdue Pharma L.P. has reported that it has reached an agreement in principle on a mechanism for resolving the opioid litigation in the United States.

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Segmentation

Scope of the report

• Synthetic Opioids Market, By Product Type :
  • Synthetic Opioids
    • Methadone
    • Fentanyl
    • Meperidine
  • Semi Synthetic Opioids
    • Hydrocodone
    • Oxymorphone
    • Oxycodone
    • Hydromorphone
    • Buprenorphine
  • Synthetic Opioids Market, By Application:
    • Pain Management
    • De-Addiction
  • Synthetic Opioids Market, By Distribution Channel:
    • Retail Outlets
    • Hospitals

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