Opioid Induced Constipation Treatment Market Shares, Strategies, and Forecasts Analysis
The global opioid induced constipation treatment market is highly consolidated with the presence of few companies. The top three companies, namely Takeda Pharmaceutical Company Ltd, Valeant Pharmaceuticals International Ltd, and Boehringer Ingelheim, dominate the global opioid induced constipation treatment market.
These three companies collectively accounted for 91.8% of the total market share in the recent past. However, Takeda Pharmaceuticals Company Ltd clearly enjoys market dominance due to the popularity of its FDA approved drug Amitiza.
Opioids contain substances such as methadone, oxycodone, codeine, and morphine. These substances slow down central nervous system to relieve one from pain. Central nervous system is responsible for the body’s response to pain. However, central nervous system also control movements of the body, including the involuntary movements that make digestion possible. As such, usage of opioid can cause constipation.
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Several drugs are available in their trial stage to treat opioid induced constipation. Many of these drugs are likely to boost the global opioid induced constipation treatment market. However, there are not enough stable choices available in the medical sector for the treatment of opioid induced constipation.
Transparency Market Research forecasts that the global opioid induced constipation treatment marketis likely to rise at a whopping 31.2% CAGRduring forecast tenure.In terms of revenue, the market is likely to reach a market value of US$4.8 billion by 2023 from US$731.2 mn over the timeframe of forecast.
Growing Usage of Illegal Medication Fuels Market
A number of factors drive the global opioid induced constipation treatment market. Growing prevalence of chronic diseases such as migraine, back pain, and arthritis, rise in incidents of opioid induced constipation amongst the elderly people are likely to offer substantial growth opportunities to developers of opioid-induced constipation treatments.
The global opioid induced constipation treatment market owes much of its growth to the expansion in the base ofillegal medication users. Additionally, procrastinated usage of opioids in chronic pain treatmentis playing an essential role inproviding impetus to the progress of the opioid induced constipation treatment market.
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Increased Awareness amongst Patients and Doctors Encourage Growth
Increasedcaution amongstdoctors and patients for using non-purgative medicine options to treat opioid induced constipation is likely to promote the growth of globalopioid induced constipation treatment market. Furthermore, it has been gauged that the unexplored market for beneficial, successful, and safe medication treatment in opioid induced constipation drug is developing and is quite broad.
However, due to high costs of novel pharmaceuticals and lack ofknowledge about opioid-induced constipation and forthcoming treatment innovation among patients the market might suffer a setback.
Nevertheless, increasing rate of approval of pipeline drugs act as a beacon of hope for the global opioid induced constipation treatment market.
Large Pool of Patients with Chronic Diseases Propels North American Market
North America has always accounted for a large chunk of the global opioid induced constipation treatment market, thanks to its large consumption of opioid induced constipation treatment drugs. In terms of growth rate, North America alsooccupies the leading position. A large percentage of such patients who suffer from pain are resorting to opioids to get some relief. Ahugepart of population that takes opioid drugs also suffers from opioid induced constipation.
In addition to that, the penetration of opioid induced constipation treatments is quite low in other parts of the world as compared to North America. This likely is the reason for the high disparity of consumption rates that exists between the regions.