The global oxycodone drugs market size was estimated to be USD 5.41 billion in 2023 and is expected to reach USD 9.92 billion by 2034 with a CAGR of 5.67% during the forecast period 2024-2034. The rising geriatric population, increasing surgical procedures, growing awareness of pain management, development of new formulations, and limited alternative pain medications will drive the market growth.
Globally, there will likely be more surgeries performed as healthcare becomes more widely available and medical technology develops. One popular medication for managing pain following surgery is oxycodone. Patients are increasingly inclined to seek treatment for chronic pain, and there is a rising recognition of the significance of pain management. This has led to an increasing demand for prescription opioids like oxycodone. For instance, Mallinckrodt's abuse-deterrent oxycodone pill, Oxaydo, got FDA clearance in 2023, which might increase the company's market share.
By product type, the long-acting oxycodone segment accounted for the highest revenue-grossing segment in the global oxycodone drugs market in 2023 and is predicted to grow at the fastest CAGR during the forecast period owing to the increasing demand for sustained pain relief among patients with chronic conditions, advancements in pharmaceutical technology leading to the development of more effective and abuse-deterrent extended-release formulations, and a rising aging population worldwide experiencing a higher incidence of chronic pain-related disorders. For instance, Endo expanded its line of painkillers, which included oxycodone, in 2022 when it purchased the generics business Paratek Pharmaceuticals.
By application, the chronic pain management segment accounted for the highest revenue-grossing segment in the global oxycodone drugs market in 2023 owing to the rising prevalence of chronic pain conditions across diverse demographics, increased awareness and diagnosis of such ailments, the growing aging population, and a surge in surgical procedures globally. For instance, J&J consented to pay $230 million in May 2022 to resolve claims that it contributed to the opioid crisis by downplaying the dangers of addiction related to their drug OxyContin. Additionally, the post-surgical pain management segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing number of surgical procedures globally, heightened awareness of the importance of effective postoperative pain management, advancements in medical technology facilitating more surgical interventions, and a growing emphasis on patient-centric care.
By distribution channel, the hospital pharmacies segment accounted for the highest revenue-grossing segment in the global oxycodone drugs market in 2023 owing to the consistent demand for oxycodone drugs in acute care settings, the prevalence of hospital-based pain management practices, and the convenience of on-site dispensing for patients undergoing various medical treatments. For instance, Amneal introduced a generic version of chewable oxycodone hydrochloride tablets in December 2022. Additionally, the online pharmacies segment is predicted to grow at the fastest CAGR during the forecast period owing to the growing preference for digital healthcare solutions, increasing adoption of online platforms for medication procurement, and the convenience offered to consumers in accessing prescription medications from the comfort of their homes.
North American region is anticipated to have the highest revenue share during the forecast period owing to the persistent prevalence of chronic pain conditions, a well-established healthcare infrastructure, and a high rate of surgical interventions. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the rising healthcare expenditure, expanding patient awareness about pain management, and an increasing number of surgical procedures across the region. For instance, Sun Pharma's generic oxycodone immediate-release tablet was approved by the US Food and Drug Administration (FDA) in June 2023.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Globally, there will likely be more surgeries performed as healthcare becomes more widely available and medical technology develops. One popular medication for managing pain following surgery is oxycodone. Patients are increasingly inclined to seek treatment for chronic pain, and there is a rising recognition of the significance of pain management. This has led to an increasing demand for prescription opioids like oxycodone. For instance, Mallinckrodt's abuse-deterrent oxycodone pill, Oxaydo, got FDA clearance in 2023, which might increase the company's market share.
By product type, the long-acting oxycodone segment accounted for the highest revenue-grossing segment in the global oxycodone drugs market in 2023 and is predicted to grow at the fastest CAGR during the forecast period owing to the increasing demand for sustained pain relief among patients with chronic conditions, advancements in pharmaceutical technology leading to the development of more effective and abuse-deterrent extended-release formulations, and a rising aging population worldwide experiencing a higher incidence of chronic pain-related disorders. For instance, Endo expanded its line of painkillers, which included oxycodone, in 2022 when it purchased the generics business Paratek Pharmaceuticals.
By application, the chronic pain management segment accounted for the highest revenue-grossing segment in the global oxycodone drugs market in 2023 owing to the rising prevalence of chronic pain conditions across diverse demographics, increased awareness and diagnosis of such ailments, the growing aging population, and a surge in surgical procedures globally. For instance, J&J consented to pay $230 million in May 2022 to resolve claims that it contributed to the opioid crisis by downplaying the dangers of addiction related to their drug OxyContin. Additionally, the post-surgical pain management segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing number of surgical procedures globally, heightened awareness of the importance of effective postoperative pain management, advancements in medical technology facilitating more surgical interventions, and a growing emphasis on patient-centric care.
By distribution channel, the hospital pharmacies segment accounted for the highest revenue-grossing segment in the global oxycodone drugs market in 2023 owing to the consistent demand for oxycodone drugs in acute care settings, the prevalence of hospital-based pain management practices, and the convenience of on-site dispensing for patients undergoing various medical treatments. For instance, Amneal introduced a generic version of chewable oxycodone hydrochloride tablets in December 2022. Additionally, the online pharmacies segment is predicted to grow at the fastest CAGR during the forecast period owing to the growing preference for digital healthcare solutions, increasing adoption of online platforms for medication procurement, and the convenience offered to consumers in accessing prescription medications from the comfort of their homes.
North American region is anticipated to have the highest revenue share during the forecast period owing to the persistent prevalence of chronic pain conditions, a well-established healthcare infrastructure, and a high rate of surgical interventions. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the rising healthcare expenditure, expanding patient awareness about pain management, and an increasing number of surgical procedures across the region. For instance, Sun Pharma's generic oxycodone immediate-release tablet was approved by the US Food and Drug Administration (FDA) in June 2023.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Product Type, Application, and Distribution Channel
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Major Market Players
- 20% Free Customization Available to Meet Your Exact Requirement.
Segmentation: Oxycodone Drugs Market Report 2023 - 2034
Oxycodone Drugs Market Analysis & Forecast by Product Type 2023 - 2034 (Revenue USD Bn)
- Short-acting
- Long-acting
Oxycodone Drugs Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Pain Management
- Post-Surgery
Oxycodone Drugs Market Analysis & Forecast by Distribution Channel 2023 - 2034 (Revenue USD Bn)
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Oxycodone Drugs Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Oxycodone Drugs Market: Product Type Estimates & Trend Analysis
8. Oxycodone Drugs Market: Application Estimates & Trend Analysis
9. Oxycodone Drugs Market: Distribution Channel Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Oxycodone Drugs Market
12. Europe Global Oxycodone Drugs Market
13. Asia Pacific Global Oxycodone Drugs Market
14. Latin America Global Oxycodone Drugs Market
15. MEA Global Oxycodone Drugs Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Purdue Pharma L.P.
- Mallinckrodt Pharmaceuticals
- Endo Pharmaceuticals Inc.
- Johnson & Johnson
- Teva Pharmaceutical Industries Ltd.
- Pfizer Inc.
- Amneal Pharmaceuticals LLC
- Sun Pharmaceutical Industries Ltd.
- Hikma Pharmaceuticals PLC
- Lannett Company Inc.
- Rhodes Pharmaceuticals L.P.
- Mylan N.V.
- KVK Tech Inc.
- SpecGx LLC
- Zydus Cadila
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | March 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 5.41 Billion |
| Forecasted Market Value ( USD | $ 9.92 Billion |
| Compound Annual Growth Rate | 5.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
