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MARKET OUTLOOK

According to Triton Market Research, the North American opioid drugs market is anticipated to rise with a CAGR of 2.36% in the estimated years 2019-2028. The United States and Canada together shape the market in this region.

Opioids or narcotics are the medications that doctors prescribe for treating severe or persistent pain. These are prescribed for use by people suffering from chronic lower back pain because of sedentary lifestyles, patients recovering surgery, and those experiencing cancer-associated pain. These are also used by those who have had bone injuries due to reduced bone density. There is a large market for opioid drugs market in the United States.

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However, 2018’s statistics by the Drug Base Government show that, every day, 128 people in the country died due to an overdose of opioids. The abuse of and addiction to these substances, and the morbidity and mortality resulting due to these behaviors, is a serious national crisis. The US’ Department of Health and Human Services (HHS) has been dedicated in its efforts to tackle this crisis. With the help of the National Institutes of Health (NIH), it has been discovering new and better ways for the prevention of opioid misuse, treatment of disorders due to opioid abuse, and management of pain.

COMPETITIVE OUTLOOK

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Triton's report on the opioid drugs market in the Middle East and Africa states that the industry will grow with a CAGR of 2.60% in the forecast period 2019-2028. Saudi Arabia, Turkey, South Africa, the UAE, and Rest of MEA together shape the market in this region.

Similar to most developing nations, Turkey has been witnessing an alarming rise in the incidence of cancer and cancer deaths. This rise is attributable to the improvement in the registry system and better access to diagnostic services. Over the last few years, the concept of palliative care has emerged in the country, with the development of pain control units in the majority of the healthcare centers. However, the rate of morphine consumption per capita is low, and the substance is not widely available either. This presents major growth opportunities for opioid drug manufacturers to capitalize on this unexplored market.

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In Saudi Arabia, the number of people affected with cancer is rising significantly, and the mortality rate due to the disease is also very high. Most of these cases are detected at the later stages. It thererefore becomes imperative to treat the patients with opioid drugs to alleviate their pain. This has generated demand for these drugs in the country. However, most people in the country, though being extremely concerned about having the condition, lack knowledge about the use of opioids for pain management or are misinformed. This acts as a hurdle in the path of market growth.

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The market for opioid drugs in Latin America has been projected to depict growth in terms of revenue and expand with a CAGR of 2.79% during the forecast years 2019-2028, according to a report by Triton Market Research. Brazil, Mexico, and Rest of Latin America together form the market in this region.

In 2017, the International Narcotics Control Board (INCB) stated that, in Mexico, the percentage of legally prescribed opioid drugs is meager in comparison with the US. However, as per a 2019 research article, Mexico might transition from being a low opioid using country to a high opioid using one. Each year, around 30 million cases of people suffering from chronic pain are reported in the country.

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This opens up multiple avenues for growth for players operating in the opioid drugs market. A few years back, Purdue Pharma entered the Mexican market, to tap onto its unrealized potential. This factor is helping the growth of Mexico’s opioid drugs market. However, in the coming years, the drug trafficking scenario in the country is expected to take a turn for the worse. Also, stringent guidelines with respect to opioid trade from the US and other established markets across the globe are expected to decelerate the market growth in the coming years.

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Triton, in its research report, estimates the global opioids drug market to proliferate with a compound annual growth rate of 2.56% in the forecast years 2019-2028.

The primary driving force behind the growth of this market is the rise in the number of medical cases and the growing prevalence of cancer. Opioids are narcotic drugs prescribed for the management of moderate to severe pain. The American Cancer Society expounds that they play a crucial role in alleviating pain due to this disease and treating cancer patients. With the increase in the prevalence of cancer around the world, the demand for prescription opioid drugs is also expected to spike.

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Furthermore, the increase in the use of abuse-deterrent formulations to curb the rising opioid dependence and the demand for palliative therapy also fuel the market growth. Also, the growing commercial success and the market share of opioid drugs, along with the growth in investments for research on pharmaceutical uses of opioids, are presenting numerous avenues for growth.

However, the spread of the opioid epidemic and the rising death rate due to opioid overdose are major hurdles being faced by the studied market. Owing to the spread of the opioid epidemic and enhanced consumer awareness regarding the effect of opioids, a number of companies are being hit with lawsuits for contributing to the opioid crisis. Most of these companies have been hit with lawsuits for not providing information on the addiction caused due to the drug use.

On the other hand, the other ones have been called out for marketing their products aggressively and also for bribing various medical professionals to recommend a certain kind of brand of opioids to their patients. This increase in the number of lawsuits against the opiod drug manufacturers is acting as a major restraining factor hindering the market growth. Moreover, stringent government rules & regulations and the usage of opioids for non-medical purposes are also impeding the growth of the opioid drugs market.

REGIONAL OUTLOOK

The market for opioids drug spans across the Asia-pacific, the Middle East and Africa, Europe, North America, and Latin America.

Asia-Pacific is likely to become the fastest-growing region in the global market over the forecasting period. The demand for opioid drugs in the APAC is escalating due to the rising prevalence of chronic pain among people. As a person ages, the incidences of chronic pain also increase, especially after 65 years of age. The aging populace is widely affected by bone & joint disorders, arthritis, cancer, and other chronic diseases linked to pain. Thus, the demand for opioid drugs in this population group is extremely high. In addition, the surge in the consumption of these drugs is attributed to the growing initiatives by the government to improve the healthcare infrastructure, along with a supportive regulatory framework.

COMPETITIVE OUTLOOK

The competitive players in this market are Mylan NV, Allergan (Acquired By Abbvie), Sanofi-Aventis SA, Purdue Pharma LP, Collegium Pharmaceutical Inc, Lupin Ltd, Biodelivery Sciences International Inc, Cipher Pharmaceuticals Inc, Sun Pharmaceutical Industries Ltd, Acura Pharmaceuticals, Indivior Inc, Lannett Co Inc, Daiichi Sankyo, Hikma Pharmaceuticals Plc, Janssen Pharmaceuticals Inc, Pfizer Inc, Johnson Johnson, and Teva Pharmaceutical Industries Ltd.

MARKET OUTLOOK

Triton's report has determined the opioid drugs market in Europe to proliferate at a compound annual growth rate of 2.53% during the forecast period 2019-2028. Russia, Spain, Germany, Italy, France, the UK, and Rest of Europe together shape the market in this region.

A 2018 study published in the British Journal of General Practice states that, in the United Kingdom, there has been an increase in long-term opioid prescription. In Russia, the pain experienced in people having an advanced stage of cancer is one of the frequently encountered types of chronic pain. Thus, strong opioids, such as morphine and fentanyl, are prescribed to them, in accordance with the three-step protocol by the World Health Organization.

Further, in 2017, the NIH reported that, the prevalence of general chronic pain among adult patients in the Netherlands was around 18%. And, the rate of prevalence of cancer pain among the patients, in the preceding year, was almost 55%. Opioids play a vital role in alleviating the pain of patients suffering from such conditions. All the above-mentioned factors indicate an increase in the demand for opioid drugs in Europe. This, in turn, is helping the growth of the opioid drugs market in the region over the coming period. However, it must be noted that, in 2016, 1,333 people lost their lives to opioid drug overdose in Germany. This is a matter of grave concern, needing increased efforts by the national governments in the region, to spread awareness about substance abuse.

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Research by Triton shows that the Asia-Pacific opioid drugs market will be fast progressing at a CAGR of 3.05% in terms of revenue over the forecast period of 2019-2028. China, Japan, India, South Korea, ASEAN countries, Australia & New Zealand, and Rest of APAC together form the market in this region.

India is among the top opium producers in the world for the legal medical market. It has been placed at the fourth position by The International Narcotics Control Board (INCB). In fact, it is the only country in the world that legally produces opium gum—this substance consists of several indispensable alkaloids like codeine, thebaine, and morphine. Morphine is considered one of the best analgesics, as it helps provide relief when one experiences extreme and excruciating pain. Opium cultivation is permitted in certain areas in the country, such as in the states of Rajasthan, Uttar Pradesh, and Madhya Pradesh. These factors indicate an enhanced adoption of opioid drugs in India. This is helping the growth of the Indian opioid drugs market over the forecast period.

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In South Korea, opiate consumption has increased exponentially. This is due to enhanced awareness among patients as well as the realization among medical professionals of the need for pain control. The country ranks third in terms of opioid consumption in Asia. With the rise in the number of oncology patients and growth in awareness, this trend is expected to continue over the forthcoming years. All these factors are aiding the growth of the South Korean market for opioid drugs.

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According to Triton Market Research, the North American mass notification systems market is anticipated to rise with a CAGR of 14.99% in the estimated years 2019-2028. The United States and Canada together shape the market in this region.

As a result of large-scale economic growth, Canada needs to establish a robust public safety and security system. This will help the country maintain its rate of growth, while avoiding any undesirable incidents. The implementation of a robust system for public safety and security can be made possible with the deployment of a strong emergency alert system. This includes mass notification systems, which have an immediate response mechanism. The commercial and private sectors are the prominent areas for the application of MNS.

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Alert Ready is an emergency alerting system used widely in Canada. It delivers emergency alerts to residents via TV, radio, as well as LTE-connected and compatible wireless devices. This system was developed under the guidance of many parties— Pelmorex, wireless service providers, the broadcasting industry, and Environment and Climate Change Canada, along with federal, provincial, and territorial-level emergency management officials. In July 2020, 93 emergency alert messages were disseminated by the Canadian government through Alert Ready. These developments indicate a promising market for mass notification systems in the country over the forecast period.

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Triton's report on the mass notification systems market in the Middle East and Africa states that the market is expected to grow with a CAGR of 17.06% in the forecast period 2019-2028. Saudi Arabia, Turkey, South Africa, the UAE, and Rest of MEA together form the market in this region.

Saudi Arabia has a high proneness to different types of natural hazards. The northwestern area of the country is highly prone to volcanic eruptions and earthquakes. Whereas, its central and western parts are witness numerous floods, especially at the time of heavy rainfall. In the southwest, which is a mountainous region, landslides are a common phenomenon. And in Central and Eastern KSA, dust storms and shifting sand dunes are serious natural hazards faced by cities.

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Statistics indicate that, between 1980 and 2010, 14 disasters due to natural hazards have taken place in the country, claiming 484 lives. This has caused Saudi Arabia an economic damage of over $1 billion. Therefore, there is a high demand for mass notification systems in the nation, to effectively manage crises and emergency situations.

In March 2018, Dammam, the capital of the country's eastern province, deployed a warning system by Telegrafia. Prior to this, in 2017, the American Signal Corporation (ASC), which manufactures disaster warning, mass notification, and emergency notification systems, deployed a large-scale, multi-channel, multi-threat early warning system in the country. Thus, it can be said that there is a high adoption of mass notification systems in the KSA.

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The mass notification systems market in Latin America has been projected to depict growth in terms of revenue and expand with a CAGR of 15.84% during the forecast years 2019-2028, according to a report by Triton Market Research. Brazil, Mexico, and Rest of Latin America together form the market in this region.

Since 2015, Argentina has been making use of the Argentina Federal Emergency System (SIFEM) to detect terror-related activities and natural disasters at an early stage. Regional and national-level emergency-related agencies have been formed to support emergency management responses for natural disasters and terror attacks. Thus, there is a large-scale adoption of mass notification systems in the country.

In Chile, the Emergency Alert System (SAE) is used to notify people in times of crises, such as tsunamis, high-intensity earthquakes, forest fires, and volcanic eruptions, via alert messages to mobile phone numbers. Since March 2017, the use of the SAE has been made mandatory in the country. These factors are aiding the growth of the mass notification systems market in Rest of Latin America over the forecast period.

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In Mexico, the National Center for Disaster Prevention (CENAPRED) looks after the work of disaster prevention. It supports the technical requirements of the National Civil Protection System (SINAPROC). It also coordinates dissemination activities in case of any natural and anthropogenic phenomena, which can be potentially disastrous. Therefore, ther is a high need for MS systems in Mexico. This factor will stimulate the growth of the country’s mass notification systems market over the forecast period.

REGIONAL OUTLOOK

MARKET OUTLOOK

Triton, in its research report, estimates the global mass notification systems market to proliferate with a compound annual growth rate of 15.98% in the forecast years 2019-2028.

The rising need for public safety and security is the key growth driver of this market. Further, governments around the world are realizing the importance of evacuation needs. And hence, they have implemented strong regulations and have been taking initiatives to manage emergency situations and incidence management. This is another crucial factor driving market growth. Mass notification systems have found an increased adoption in the healthcare sector. It largely deploys intelligent alerting systems. Besides, the adoption of MNS in the education sector is also continuously increasing. These factors present numerous opportunities for market growth.

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However, mass notification systems require additional components, and hence, are very complex. This adds to the system cost and also enhances the overall cost of the safety system. Thus, the high costs associated with MNS are restricting the growth of the studied market. Clear communication is very crucial in relaying emergency information. Therefore, technological limitations encountered in the process of disseminating information to people in times of emergency are a major challenge to market growth.

REGIONAL OUTLOOK

The global market for mass notification systems covers the regions of North America, Europe, Latin America, the Middle East and Africa, and the Asia-Pacific.

Among all regional markets, North America is estimated to emerge as the predominant one in the global market, over the forecast period. This is attributable to the rise in investments for public safety and security. Increased investment in emergency preparedness, coupled with advancements in infrastructure technologies, is expected to fuel the growth of this market during the forecasting period. In addition, North America is home to several industry leaders like IBM Corporation and Honeywell International, among others. This has further augmented the MNS market growth in the region.

COMPETITIVE OUTLOOK

Major players engaged in this market are International Business Machines Corporation (IBM), Desktop Alert Inc, Johnson Controls, OnSolve, Honeywell International Inc, Blackboard Inc, Blackberry AtHoc, Rave Mobile Safety, xMatters Inc, Siemens, Alertus Technologies LLC, Eaton, Singlewire Software LLC, Motorola Solutions Inc, and Everbridge.

MARKET OUTLOOK

Triton's report has determined the mass notification systems market in Europe to proliferate at a compound annual growth rate of 15.49% during the forecast period 2019-2028. Russia, Germany, Italy, France, Spain, the UK, and Rest of Europe together shape the market in this region.

The increasing number of measures to enhance the level of public safety and security in France is attributable to the increased government spending with respect to the country's security infrastructure. Paris has been under terrorist attacks in the past, which compelled the French government to raise the budget for security machinery so as to combat potential threats. Therefore, the country is witnessing a growing demand for mass notification systems.

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However, it is not only such incidents, which pose a threat to public security, that call for the adoption of MN systems. Forest fires are a common occurrence during summers in the southern part of the country. Besides, several areas are prone to flooding, and certain mountainous areas are at a high risk of witnessing avalanches. In such times of crisis, it becomes extremrly crucial to issue notifications to the public, so that they are well prepared to deal with the situation. This opens up numerous opportunities for the growth of the mass notification systems market in France over the forecast period.

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Research by Triton shows that the Asia-Pacific mass notification system market will be fast progressing at a CAGR of 17.54% in terms of revenue over the forecast period of 2019-2028. India, China, South Korea, Japan, ASEAN countries, Australia & New Zealand, and Rest of APAC together form the market in this region.

The Indian government recently increased its security budget by more than 40%. This has proved beneficial for India’s mass notification systems market. After the tragic incidents of terror attacks that shook the country, such as the train bombings of July 2006 and the 26/11 attacks, the government was forced to adopt advanced security solutions, such as MNS.

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Further, cyclones and other meteorological disturbances in the Arabian Sea, the Bay of Bengal, and the Indian Ocean claim thousands of lives each year, and also cause large-scale material losses. In 2015, the National Cyclone Risk Mitigation Project (NCRMP) was launched by the National Disaster Management Authority of India (NDMA). Ina first, a multi-channel Early Warning Dissemination System (EWDS) was commissioned as part of this project. This was used to send location-based SMS alerts to warn residents. These instances show that there is a high demand for MNS in the country. This is helping the growth of India’s mass notification system market.

Meanwhile, in South Korea, the government has been sending emergency texts to its citizens about three to five times a day, amid the Coronavirus outbreak. These texts include details of the exact locations and movements of those who have tested positive for COVID-19. This indicates that mass notification systems are increasingly being adopted in the country.

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Triton Market Research has concluded that the North America hyperphosphatemia drugs market is projected to grow at a CAGR of 15.66% in the estimated years 2019-2027.

Canada and the United States together form the hyperphosphatemia drugs market in the North America region.

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The growing elderly population is a major driving factor for the growth of the hyperphosphatemia drugs market in Canada. The number of elderly citizens in the general population is progressively growing in the country. As the elderly population in Canada increases, the number of diseases such as hypertension, osteoporosis, etc., in them will also increase. Chronic kidney disease (CKD) is a significant public health issue. CKD is a crucial risk multiplier in patients with heart disease, diabetes, stroke and hypertension. Subsequently, the prevalence of CKD is quite high in elder citizens in Canada. Kidney disease can be described as a variety of diseases and disorders that affect the kidneys. Most of the diseases related to kidney affect the nephrons, which are the kidneys’ filtering units—and retard their ability of eliminating excess fluids and wastes. In the case of chronic kidney disease, an increase in the blood’s phosphorus levels occur due to improper excretions leading to hyperphosphatemia. Increasing cases for hyperphosphatemia in the elderly population is one of the most significant reasons contributing to the growth of the country’s hyperphosphatemia drugs market.

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As per Triton's research report, the Middle East and African hyperphosphatemia drugs market is anticipated to upsurge with a CAGR of 18.96% in the forecasting years of 2019-2027.

Turkey, the UAE, Saudi Arabia, South Africa and countries in rest of the Middle East & Africa together form the hyperphosphatemia drugs market in the MEA region.

The growth of the Africa hyperphosphatemia drugs market is primarily driven by the rising awareness of the condition among the government and the public in the region. The global health standards being set by the World Health Organization (WHO) also forces the African government to implement safe and secure delivery procedures in hospitals with impetus given to complete healthcare. Hence, the African government is increasingly spending huge amounts of money on improving healthcare facilities in the region. In addition to this, the rising literacy rate in Africa is further enabling people to pursue clean and healthy daily living practices. Additional care is being given to pregnant women to successfully deliver a healthy child while maintaining the mother’s health. This would further enable the people in the region to have access to the hyperphosphatemia treatment procedures and thereby, grow the demand for hyperphosphatemia drugs.

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According to Triton, the hyperphosphatemia drugs market in Latin America is expected to proliferate with a CAGR of 17.20% in the forecast period of 2019-2027.

Brazil, Mexico and countries in rest of Latin America together constitute the hyperphosphatemia drugs market in the Latin American region.

Hyperphosphatemia is a condition that raises the phosphate levels in the blood. This condition can be caused because of the movement of phosphate from intracellular to extracellular space, unreasonable phosphate admission and diminishing in the discharge of phosphate. The elevated amounts of phosphate in the blood can be controlled by dietary limitations and with the utilization of phosphate binders. Hyperphosphatemia is an essential driver of bleakness and mortality in patients with persistent kidney illness. Hyperphosphatemia and expanded danger of death from cardiovascular sickness/vascular calcification are emphatically connected. This has expanded the danger of cardiovascular infection among the patients that have been reported to be suffering from hyperphosphatemia.

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The rising prevalence of chronic diseases, increase in public awareness and the rise in the aging population are factors boosting the hyperphosphatemia drugs market. Furthermore, the growth of the market is propelled by the rising cases of osteoporosis and the changing dietary routine. However, non-adherence to treatment regiments, limited availability of drugs and use of advanced dialysis techniques are the key challenges faced by the market.

COMPETITIVE OUTLOOK

MARKET OUTLOOK

After a detailed analysis, Triton Market Research has concluded that the global hyperphosphatemia drugs market is expected to display an upward trend and is estimated to grow at a CAGR of 16.61% in terms of revenue over the forecast period of 2019 to 2027.

Hyperphosphatemia normally affects individuals in the late stages of kidney disease. Diabetes and hypertension are major causes of renal dysfunction. A rise in the prevalence of these conditions increases the number of people with CKD that are on dialysis. Phosphate binders are used to treat hyperphosphatemia, but the drugs have some adverse effects. This leads to the increased need for effective treatment options, compelling vendors to extensively invest in the R&D of new drugs. The prevalence of chronic kidney diseases in the elderly population is very high, with more than 35% of patients over 70 years of age suffering from stage 3 chronic kidney disease. This has increased the use of phosphate binding drugs in the market. Phosphorus is essential for normal physiological functions such as bone construction, nerve function, and muscle contraction. Most of the phosphorus is stored in the bones and different tissues of the body.

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The rapidly growing chronic disorders, rising public awareness and the growth in the elderly population are the key driving factors of the hyperphosphatemia drugs market. Factors such as the strict FDA regulations and the side-effects caused due to the consumption of hyperphosphatemia drugs are obstructing the growth of this industry. The growing aging populace is a key opportunity that can be leveraged by this market in order to supplement further growth. However, the option of choosing alternative dialysis techniques as well as non-adherence to treatment regimes and limited access to drugs are the challenges being faced by the hyperphosphatemia drugs market at this moment.

REGIONAL OUTLOOK

The main regions included in the hyperphosphatemia drugs market are North America, Europe, Latin America, APAC and the Middle East and Africa.

North America is the clear leader in the global hyperphosphatemia drugs market in terms of revenue. The hyperphosphatemia drugs market in North America is driven by the increasing rate of a number of chronic kidney disorders and increasing prevalence of diabetes & osteoporosis across the region. Asia-Pacific is the fastest-growing region in the hyperphosphatemia drugs market. China is expected to be the largest healthcare drugs and equipment market in Asia-Pacific region both by revenue and size. The rapidly expanding healthcare infrastructure throughout the country, driven solid growth efforts being undertaken by the country’s central government is projected to fuel demand for hyperphosphatemia drugs across China.

COMPETITIVE OUTLOOK

Sanofi, Pfizer, Inc., Zeria Pharmaceutical, Bio-Tech Pharmacal, Roche Diagnostics Corporation, Ultragenyx Pharmaceutical, Inc., Fresenius Medical Care, Shire, Keryx Biopharmaceuticals, Inc., Royal DSM N.V., Fermenta Biotech, Ltd., Cipla, Bruno Farmaceutici S.p.A., Johnson and Johnson, Sun Pharmaceutical Industries, Ltd. and AMAG Pharmaceuticals are the companies leading the hyperphosphatemia drugs market.

MARKET OUTLOOK

Triton Market Research has estimated the Europe hyperphosphatemia drugs market to show an upward trend in terms of revenue and grow rapidly with a CAGR of 16.11% in the forecasting years 2019-2027.

France, Italy, the United Kingdom, Germany, Russia, Spain and countries in rest of Europe together form the market for hyperphosphatemia drugs in the European region.

The growing aging population and increasing osteoporosis cases in the UK are the major driving factors strengthening the demand for the hyperphosphatemia drugs market in the country. In the UK, around 3 million people are expected to be suffering from osteoporosis. Additionally, more than 230,000 fracture cases are recorded every year due to osteoporosis. A low level of estrogen in women or other hormone might significantly increase the risk of weakening the bones.

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The increasing aging population in Spain is considered as the major driving factor to strengthen the demand of the hyperphosphatemia drugs market in the country. Spain accounts for a significant proportion of elderly population within Europe. By 2050, one-fourth of Spain’s population is estimated to be over 100 years. The aging population can be considered as the most crucial reason for the rising prevalence of hyperphosphatemia disorders that is driving the growth of the Spain market. In cases of chronic kidney diseases and elderly people, the loss of phosphorus homeostasis due to phosphorus excretion failure causes hyperphosphatemia. And this is growing the demand for the hyperphosphatemia drugs market in the country.

COMPETITIVE OUTLOOK