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Global Opioid-Induced Constipation (OIC) drug market is estimated to grow at a CAGR of 7.08% during the forecast period of 2017 - 2025. The major drivers responsible for the market growth include the growing use of opioid, rising geriatric population, growing opioid prescription in North America and Europe, detection of safety threats and the easy availability of improved and effective OIC drugs. Some of the commonly prescribed opioids are Percocet, Vicodin, and codeine.
The global Opioid-Induced Constipation (OIC) drug market segments include drug type and prescription type. The drug types are further classified into Methyl naltrexone Bromide, Naloxegol, and Lubiprostone. The prescription types are further classified into prescribed and over the counter. Of these, the Over the counter segment is dominating the market as a doctor's prescription is not required to buy the drugs which make its access much easier.
Geographically, the global opioid-induced constipation (OIC) market encompasses regions like the North America, Asia Pacific, Europe and Rest of World. Of these, the North American market is expected to dominate the global OIC drugs market during the forecast period on account of the fact that approximately 50% of the population is suffering from OIC. The countries in this region also have the most developed healthcare systems and medical devices industry in the world. The Federal agencies and private firms are equally supporting the market by providing access to the best medical facilities to the consumers. Growing lifestyle oriented diseases, increase in healthcare spending and technological advancement in cardiology are the factors responsible for the growth of this market.
Product launch is the key strategy adopted by the various market players of global opioid-Induced Constipation (OIC) drug market. The players are also engaging in partnerships, mergers, and acquisitions to withhold their stand in the market. For example, Ironwood Pharmaceuticals Inc entered into an agreement with Bionomics Limited in the year 2016 to fund their drug discovery processes. In April 2017, Finch Therapeutics and Takeda Pharmaceutical Company Limited signed a collaboration to develop FIN-524, a live biotherapeutic product which is currently at the preclinical research stage. Some of the other pioneering companies for this market include Daiichi Sankyo Co Ltd, Pfizer, Progenics Pharmaceuticals Inc, Shionogi & Co Ltd, Allergan Plc, Nektar Therapeutics, Purdue Pharma L.P, S.L.A. Pharma Ag, Mundipharma International Limited, Ono Pharmaceutical Co., Ltd, Takeda Pharmaceutical Company Limited, Theravance Biopharma Inc, Valeant Pharmaceuticals International, Cosmo Pharmaceuticals Sa, Daewoong Pharmaceutical Co., Ltd and C.B. Fleet Company Inc.