Research Nester published a report titled “Hydrocodone Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global hydrocodone market in terms of market segmentation by application, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global hydrocodone market is estimated to attain a moderate CAGR over the forecast period, i.e., 2022 – 2030. The market is segmented on the basis of application into pain relief, cough treatment, and others, out of which, the pain relief segment is anticipated to hold the notable share over the forecast period. This can be attributed to the analgesic effects of opium present in hydrocodone on brain and spinal cord, which changes the way brain reacts to pain. Moreover, the application of hydrocodone varies from moderate to severe pain, which is estimated to further boost the market growth.
The global hydrocodone market is anticipated to grow on the back of increasing demand for pain relieving medications for patients of cancer, arthritis, and others. The growing prevalence of cancer is projected to encourage the market growth. Moreover, the growing research activities for the development of novel drugs, is further anticipated to boost the market growth. Additionally, the increasing R&D expenditure worldwide, is projected to boost the market growth. According to the World Bank data, 2.204% of the global GDP was spent for R&D activities in 2018. Moreover, hydrocodone is also largely used in cough syrups to suppress cough, which is foreseen to boost its demand over the forecast period.
On the basis of geographical analysis, the global hydrocodone market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is anticipated to gain the largest market share throughout the forecast period on account of the growing medical research and development activities, along with the rising cases of arthritis, cancer, and other diseases, which requires pain killer drugs. According to the data by the Center for Disease Control and Prevention (CDC), about 58.5 million people in the United States, have doctor-diagnosed arthritis.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growing Incidences of Diseases, Such as, Cancer and Arthritis to Fuel the Market Growth
According to the data by the World Health Organization (WHO), cancer caused over 10 million deaths, in 2020.
Cancer, arthritis, ulcers, and surgeries are some of the major medical conditions that cause extreme pain, and require severe pain killer medications. Hydrocodone is a strong analgesic, which is estimated to boost its demand over the years. The growing incidences of these diseases is further expected to boost the demand for hydrocodone.
However, stringent regulations on medical research with narcotics is expected to operate as key restraint to the growth of global hydrocodone market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global hydrocodone market which includes company profiling of Teva Pharmaceuticals Industries Ltd., Gilead Sciences, Inc., Novartis AG, Sanofi-aventis Groupe, Abbott Laboratories, Merck & Co., Inc., Siemens Healthcare GmbH, Pfizer Inc., Eli Lilly and Company, and BioControl Medical. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global hydrocodone market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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