Prescription narcotics are drugs that relieve body pain and binds itself to receptors to lessen and block the pain signals. Growing inefficiency of existing medicines coupled with rising cases of chronic pain is driving the growth of the market. The rising demand for opioids to treat chronic pain conditions is stimulating market growth. Opioids are effective in severe treat management. Opioids like fentanyl and tramadol are used in vast numbers to treat severe and moderate level of pain. According to figures of CDC, approximately 11% of the adult population in the US is experiencing some form of chronic pain. In addition, changing regulatory conditions to encourage the utilization of narcotics has led to the potential growth of the market.
The market is segmented by indication, sales channel, and region. Based on indication, analgesics segment is expected to drive market growth. Analgesics are strong and provide relief without the person losing consciousness. Analgesics can be used for diagnostics of migraines, gallbladder disease, headaches, osteoarthritis, menstruation, fibromyalgia, and rheumatoid arthritis. Such advantages offered by analgesics is set to bolster the demand of the market.
Based on the sales channel, retail pharmacies are expected to dictate the growth of the market. The rapid expansion of the healthcare industry has resulted in an escalation of the retail pharmacy. The rise in chronic diseases and increase involvement of government to provide effective medicines is driving the demand for retail pharmacies.
According to the United States National Institute of Healthcare (NIH) , 2 million among the US population and 15 million across the globe have been affected by opioid dependency. In 2016, more than 35,000 deaths were caused by misuse of opioids. According to the National Institute on Drug Abuse, nearly 2.3 million people in the U.S. were addicted to prescription opioids. 47,000 people died of opioid overdose. Such incidents have hindered the growth of the market. This has led US government to announce addiction of opioid as public health emergency which has restricted the growth of the market.
In terms of region, North America is the global leader of the market. The increasing number of manufacturers coupled with the rising geriatric population is driving the growth of the market in the region. Moreover, government laws and regulations are fueling market growth in the region. Stringent scrutiny from the FDA to inspect the prescribed drugs is boosting market expansion further. The Risk Evaluation and Mitigation Strategy (REMS) program focus on educating and creating awareness among doctors regarding pain management and patient awareness for safe usage of drugs are propelling the market as well.
Asia-Pacific region is expected to witness notable growth owing to the rise in disposable income and increasing adoption of opioids in clinical practices. Furthermore, higher incidents of chronic pain are stimulating market growth in the region. Additionally, government regulations are boosting the market presence in the region. The Pharmaceuticals and Medical Devices Agency (PMDA) of Japenese government monitors prescription drug promotion and advertising. Such regulations have bolstered the market in the region.
Additional Insights:
· In order to combat the addiction of opioids, Medicare in 2019 imposed new guidelines for prescribing opioids. The guidelines state that Medicare patients cannot be prescribe with a daily dosage of opoid
· The FDA's Office of Prescription Drug Promotion (OPDP) reviews prescribed drug advertising to make sure the information displayed isn't misleading or false. Such impositions have reduced the opioid addiction and further strengthened the market in the North America region
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Prescription Narcotics Market Segmentation:
By Indication
· Cancer Pain
· Trauma
· Analgesics
· Others

By Sales Channel
· Retail Pharmacies
· Institutional Distribution
By Region:
· North America
· Latin America
· Europe
· Asia Pacific
· Rest of the World

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Competitive Landscape:
· Tier 1 players- established companies in the market with a major market share
· Tier 2 players
· Emerging players which are growing rapidly
· New Entrants
FutureWise Key Takeaways
• Growth prospects
• SWOT analysis
• Key trends
• Key data-points affecting market growth
Objectives of the Study:
• To provide with an exhaustive analysis on the global prescription narcotics market by indications, sales channel, and by region
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and rest of the world
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financials and core competencies

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