Sales Of Opioids For Pain Expected To Jump To $18.4B Annually in the US By 2020
New Informa Pharma Intelligence “Snapshot of the Opioid Market” Charts Industry’s Journey Into Crisis
NEW YORK – July 11, 2017 – Informa Pharma Intelligence, the leading healthcare and pharmaceutical data and analysis firm, today released its “Snapshot of the Opioid Market.” The report and infographic chart the opioid industry’s journey into an $18.4B annual market1 in the US by 2020 and its attempts to combat the ongoing national crisis around opioid abuse.
Opioids: Past, Present, Future
Opioid prescriptions constitute more than half of the total prescription pain market, with Pfizer leading the industry in terms of R&D involvement in pain therapies.1 However, research shows the industry has been relatively slow to respond to the growing national crisis haunting the industry since OxyContin hit the market in 1995. According to the most recent CDC Data, opioid deaths have been steadily on the rise in the US since 1999.2
“At the same time the opioid market is expanding, deaths from opioid abuse are growing. The CDC estimates that more than 33,000 people died from opioid related causes in the US in 2015 alone. It’s been a fascinating development to see how the FDA and the pharmaceutical industry have reacted to a crisis it unfortunately had a hand in creating.” said Michael Hay, Head of Intelligence Products for Informa Pharma.
Charting the timeline of key drug approvals throughout the opioid crisis:
Late stage clinical trial data reveals that R&D effort in opioids is being directed towards formulations with abuse-deterrent properties. There a currently 15 opioids with abuse-deterrent formulas in late stage development from pharmaceutical companies, including Teva Pharmaceuticals and Elite Pharmaceuticals.1
“Pushing for more ADF drugs has been a critical step towards curbing opioid abuse, while making sure the millions of people in need of pain medication have adequate access to the relief they need. However, how much this impacts the growing crisis remains to be seen as pharmaceutical companies pour more money into clinical trials and new finely tuned formulas over the next few years,” Hay, commented.
Informa Pharma Intelligence’s Biomedtracker and SERMO surveyed 30 US primary care physicians treating patients with chronic pains that prescribe opioids to better understand first-hand how these controversial drugs are perceived. Findings suggest:
If you’d like access to the full report from Informa Pharma or additional information on the growth of ADF opioid offerings, please reach out to InformaPharma@Diffusionpr.com.
About Informa Pharma Intelligence
Informa Pharma Intelligence powers a full suite of analysis products - Datamonitor Healthcare, Sitetrove, Trialtrove, Pharmaprojects, Medtrack, Biomedtracker, Scrip, Pink Sheet and In Vivo – to deliver the data needed by the pharmaceutical and biomedical industry to make decisions and create real-world opportunities for growth.
With more than 500 analysts keeping their fingers on the pulse of the industry, no key disease, clinical trial, drug approval or R&D project isn’t covered through the breadth and depth of data available to customers.
Informa Pharma Intelligence, is part of the wider Informa Business Intelligence brand that provides insight into six core industries - Pharma & Healthcare; Agribusiness & Commodities; Finance; Telecoms, Media & Technology; Maritime & Law; Infrastructure.
For more information visit pharmaintelligence.informa.com.
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