Oxycodone Drugs Market Analysis

Oxycodone Drugs Market Analysis

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Based on the drug type, the global market is classified into short-acting oxycodone and long-acting oxycodone. The long-acting oxycodone segment dominated the market with revenue of USD 3.4 billion in 2023.
 

• Long-acting oxycodone formulations provide sustained pain relief over an extended period, typically ranging from 8 to 12 hours. This extended duration of action allows for better pain control, especially in patients with chronic conditions like cancer pain or neuropathic pain, where continuous analgesia is required.
   
• Moreover, the convenience of less frequent dosing with long-acting oxycodone formulations promotes better adherence to the prescribed pain management regimen. Patients are more likely to adhere to treatment plans when they require fewer doses per day, leading to more effective pain control and improved clinical outcomes.
   
• Such  benefits associated with long-acting oxycodone formulation will augment the market growth.
   

Based on the dosage form, the global oxycodone drugs market is classified into tablets, capsules, and injections. The tablets segment dominated the market with market share of 46.3% in 2023.
 

• Several patients prefer tablet dosage form, rather than injection or parenteral owing to various advantages such as accurate dosage, ease of administration, portability, and longer shelf life.
   
• Moreover, the easy availability of various over-the-counter drugs such as immediate-release and extended-release oxycodone formulations is the major factor that contribute to the growth of the market. This variety allows healthcare providers to select the most appropriate formulation based on the patient's pain intensity, duration of action required, and individualized treatment goals.
   

Based on the indication, the global oxycodone drugs market is classified into neuropathic pain, musculoskeletal pain, cancer pain, post-operative pain, and other indications. The neuropathic pain segment dominated the market in 2023 and is expected to reach USD 3.2 billion by end of 2032.
 

• The rise in prevalence of neuropathic pain globally due to various factors such as aging populations, increased survival rates of conditions that cause nerve damage (diabetes, cancer), and improved recognition and diagnosis of neuropathic pain conditions is one of the major factors that propel the growth of the market. As the incidence of neuropathic pain grows, so does the demand for effective pain management medications like oxycodone increases.
   
• Moreover, oxycodone formulations approved for the treatment of moderate to severe pain, including neuropathic pain, are available in many countries. Regulatory approval ensures that oxycodone products meet quality standards and safety requirements, making them readily accessible for patients with neuropathic pain.
   

Based on distribution channel, the oxycodone drugs market is classified into hospital pharmacies, drug stores & retail pharmacies, and online pharmacies. Hospital pharmacies segment is expected to exhibit 5.9% CAGR between 2024 - 2032.
 

• The increase in the number of surgical procedures being conducted in hospitals and availability of patients for various medical conditions, surgeries, and procedures is the major factor that contribute to the demand for oxycodone-based medications within hospital settings.
   
• Moreover, hospitals provide comprehensive cancer care services, including chemotherapy, radiotherapy, and pain management for cancer patients. Oxycodone is commonly used to manage cancer-related pain, contributing to its utilization within hospital pharmacies.
   

In 2023, North America secured a substantial market share of 42.7% in the global oxycodone drugs market and is expected to dominate throughout the forecast period. Further, the market in U.S. is expected to exhibit 5.9% CAGR between 2024 - 2032.
 

• North America witnesses a significant number of surgical procedures performed annually, both elective and non-elective. Therefore, widespread usage of oxycodone to manage postoperative pain, driving demand for the drug in the region.
   
• Moreover, the increase in incidence of cancer, and increase in trend of physician prescribing oxycodone to manage cancer-related pain, particularly in advanced stages of the disease are the major factors that contributes to the increase in demand for oxycodone in the U.S. market.
   
• Further, the rise in the demand for opioid containing drugs to relive pain, and the higher rates of opioid prescribing in U.S. compared to other countries are the major factors that boosts the market growth.
   

Germany to experience the highest growth rate in the market, outstripping other countries in Europe region.
 

• The increase in public awareness and education pertaining to pain management and the role of opioids like oxycodone may impact prescribing practices and patient attitudes towards opioid therapy in Germany. Thus, the increased awareness about the benefits and risks of oxycodone can drive its utilization in the market.
   
• Moreover, high prevalence of chronic pain conditions, including back pain, arthritis, and neuropathic pain, and increase in patient awareness about pain management options and a growing patient demand for effective pain relief drive the utilization of oxycodone in country, thereby supplementing the growth of the market.
   

The India oxycodone drugs market is expected to grow with a significant CAGR during the forecast period.
 

• The rise in the prevalence of chronic disease and rapid increase in geriatric population are the major factors that drive the demand for effective pain management medications like oxycodone, that will boost the market growth.
   
• Moreover, India is experiencing a transition in disease patterns, with a growing burden of non-communicable diseases (NCDs) such as diabetes, cardiovascular diseases, and cancer. These conditions often lead to chronic pain, driving the demand for oxycodone and other opioid analgesics.
   
• Also, pharmaceutical companies invest in marketing and educational initiatives aimed at healthcare providers to raise awareness about oxycodone and its appropriate use in pain management. These initiatives can influence prescribing practices and contribute to market growth.