The global oxycodone drug market is estimated to witness considerable growth during the forecast period (2019-2025). Oxycodone is a prescribed opioid medication used for the treatment of moderate to severe pain. It is usually taken by mouth and is available in immediate-release and controlled-release formulations. The major types of oxycodone based on their mechanism of action are long-acting oxycodone and short-acting oxycodone. Oxycodone drugs are highly used by medical professionals to offer relief in the post-operation pain. According to the Centers for Disease Control and Prevention (CDC), in 2019, six in every 10 individuals are suffering from chronic diseases in the US which is a major factor for the recurrently increasing admission of patients in hospitals.
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This steady growth in the prevalence of disease acts as a driver for the more and more surgical procedure for their treatment that creates demand for drugs used for pain management. Furthermore, increasing numbers of Parkinson’s syndrome patients along withthe key growth strategies such as mergers & acquisition, collaboration, partnership, product launch, FDA approval, and geographical expansion among others adopted by the major players of the oxycodone drug market is another major factor which is anticipated to fuel the oxycodone drug market. Purdue Pharma L.P, Janssen Pharmaceuticals, Inc., Daiichi Sankyo Company Ltd., Lupin Pharmaceuticals, West-Ward Pharmaceuticals Corp., Pfizer, Inc., Sanofi-Aventis S.A., Sun Pharmaceutical Industries Ltd., and so on are the key players operating in the oxycodone drug industry.
In September 2019, Daiichi Sankyo Company Ltd. had launched a new generic formulation of oxycodone hydrochloride hydrate extended-release tablets for sustained cancer pain treatment in Japan. Oxycodone Extended-Release Tablets 5 mg, 10 mg, 20 mg and 40 mg NX is the new formulation for the tablets launched by the company. This new formulation of oxycodone hydrochloride is assumed to be a strong opioid analgesic capable of providing relief in case of moderate to severe pain in various types of cancer, contains the narcotic antagonist naloxone in order to prevent abuse. With this launch, the company intends to expand its product portfolio in Japan. In June 2017, Lupin Pharma has received final approval from the US health regulator for its Oxycodone Hydrochloride tablets for use in case of severe pain. The company had received final approval from the USFDA to market its Oxycodone Hydrochloride tablets USP, in the strengths of 5 mg, 10 mg, 15 mg, 20 mg and 30 mg.
Global Oxycodone Drug Market Segmentation
By Application
- Pain Management
- Anesthesia
- Addiction Management
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