DUBAI, U.A.E, July 7, 2021
The FMI survey offers a comprehensive survey on the oxycodone market, covering attributes affecting demand and sales across key segments including type, application, and distribution channel. It also offers insights into prominent oxycodone market players and key strategies adopted by them to improve their market share
DUBAI, U.A.E, July 7, 2021 /PRNewswire/ -- As per a study by FMI, the global oxycodone sales are anticipated to rise at a CAGR of 4.8% during the forecast period 2021 to 2031. Owing to the growing demand for effective pain management solutions, the market for oxycodone is expected to surpass a valuation of US$ 4.6 billion through 2021.
Increasing incidence of chronic diseases such as arthritis, lower back pain, fibromyalgia among others coupled with rising availability of prescriptions drugs such as analgesic for cancer medication, post-surgical pain, and HIV are the factors fueling the demand for oxycodone.
According to a study by the American Society of Plastic Surgeons, in 2020 around 2,314,720 cosmetic surgical and over 6,878,486 reconstructive procedures were conducted in the U.S. As the opioid pain-relieving drug plays a significant role in post-surgical pain management, the increasing number of surgeries is expected to skyrocket the demand for oxycodone in the coming years.
North America is dominating the global oxycodone market. Owing to the presence of prominent market players and increasing sales of oxycodone in countries such as the U.S. and Canada, the North American market is projected to reach a valuation of around US$ 1.85 billion through 2021.
"Companies operating the oxycodone market are increasingly investing in R&D activities for launching novel drugs and emphasizing of receiving regulatory product approval to expand their product portfolio to address the increasing demand for pain management medications," says the FMI analyst.
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Key Takeaways from Oxycodone Market Analysis
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The market for oxycodone is highly fragmented owing to the presence of numerous companies. Leading players are investing in developing new products and focusing on receiving product approval from regulatory authorities to enhance their portfolio. Besides this, some of the market players are engaging in strategic collaborations and agreements to expand their market share. For instance,
Key players operating in the oxycodone market profiled by FMI includes:
More Valuable Insights on Oxycodone Market
FMI, in its new report, offers an unbiased analysis of the global oxycodone market, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on in oxycodone market with detailed segmentation:
By Oxycodone Type:
By Distribution Channel:
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