Opioid-Induced Constipation (OIC) treatment is a common treatment given to patients for either cancer or non-cancer related pain and is a common problem in patients on chronic opioid therapy that occurs as a result of adverse effects due to the use of painkillers. Few of the prescribed medications that contain opioids include Methadone, Dilaudid and Fentanyl.
The global opioid induced constipation treatment was USD 1.15 billion in 2018 and is estimated to reach USD 6.81 billion by 2025 at a CAGR of 28.93% during the forecast period
Growth by Region
North America leads the market followed by Europe due to the early adoption of modern medicine. Europe, on the other hand, also holds a significant share due to increased responsiveness towards the availability of a large number of opioid drugs in the market. However, in the Asia-Pacific region, increasing geriatric population and easy availability of improved as well as effective OIC drugs are driving the growth of the market.
Drivers vs Constraints
The market is mainly driven by the raising base of illegal medication users as well as delayed utilization of opioids in the treatment of chronic pain among individuals. However, the market is hindered by lack of awareness among patients in opioid-induced constipation, high costs of novel pharmaceuticals, as well as unfavorable reimbursement guidelines by medical cover organizations
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Industry Trends and Updates
AstraZeneca, a Britain-based multinational and second-biggest drug making company will further invest in its Macclesfield site in Northern England with the main intention to boost its £60 billion life sciences industry. However, these funds will not be used in the expansion of its manufacturing sector rather the funds will be used for technical improvements in the region.
GlaxoSmithKline, a research-based pharmaceutical and healthcare company planned to acquire USD 300 million take-ups in a company named 23andMe Inc., a genetic testing company to revamp its approach to research as the U.K. drugmaker races to catch up with its rival in developing its business.
Covid 19 Impact Analysis@ https://www.trendsmarketresearch.com/report/covid-19-analysis/3943