Market Size of Oxycodone Drugs Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.60 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Oxycodone Drugs Market Analysis
The oxycodone drugs market is expected to witness growth at a CAGR of 5.6% during the forecast period.
The COVID-19 pandemic impacted the studied market significantly. Owing to the disruption in the supply chain around the world, the pandemic invariably affected the availability of a wide range of drugs and medical supplies, which adversely impacted the market growth during the initial phases of the pandemic. However, the use of oxycodone drugs for pain management during the COVID-19 pandemic increased due to its pain-relieving properties. For instance, an article published in NCBI in December 2021 indicated that oxycodone was used as an analgesic due to the minimal immunosuppressive characteristics of the drug, and the use of the drug substantially increased in the United States and Canada during the pandemic. Thus, such widespread use of oxycodone drugs significantly added to the growth of the market during the COVID-19 pandemic. Therefore, the studied market was impacted significantly by the pandemic considerably and it is expected to continue its strong hold over the forecast period.
The major factors attributing to the growth of the market are a rise in the incidence of chronic pain diseases, such as rheumatoid arthritis (RA), cancer, lower back pain, and fibromyalgia.
There is a burden of RA across countries, globally. For instance, according to the 2022 update of the National Rheumatoid Arthritis Society (NRAS), nearly more than 400,000 people in the United Kingdom had RA in 2021 and it is 2 to 3 times more common in women than in men. This burden of RA is creating demand for opioids such as Oxycodone/acetaminophen. These opioids are prescribed to patients at low dosages for the treatment of chronic pain due to RA. These drugs act as a better alternative to non-steroidal anti-inflammatory drugs (NSAIDs). Thus, this prevalence of several diseases and increasing demand for oxycodone drugs for treatment purposes is expected to contribute to the overall, market growth
Moreover, there has been an increase in investments in research on oxycodone drugs and a rise in the number of clinical trials focusing on oxycodone. For instance, in August 2022, the Third People's Hospital of Chengdu initiated a clinical trial in which the use of oxycodone for pain treatment after bariatric surgery was studied. Such clinical trials focusing on oxycodone drugs are expected to boost the growth of the studied market.
Therefore, due to the rising adoption of the oxycodon drugs for pain management and growing product developemnt, the studied market is anticipated to witness growth during the forecast period. However, the risk of complications associated with the drugs and stringent regulations on drug approval is anticipated to hinder the market growth over the forecast period.
