Global Methadone Market is expected to register a CAGR of approx. 4% over the period of 2022-2028. The methadone market is rising due to the growing number of people getting addicted to various opioids such as heroin and morphine. For instance, in 2019, an estimated 10.1 million people aged 12 or older misused opioids in the past year. Specifically, 9.7 million people misused prescription pain relievers and 745,000 people used heroin. Owing to these glaring statistics the demand for methadone is anticipated to grow in the forthcoming years as they are long-acting full opioid agonists. It reduces opioid craving and withdrawal and blunts or blocks the effects of opioids. According to UnivDatos Market Insights (UMI)’ research report “global methadone market”, the market is expected to witness a robust growth during the forecast period 2022-2028F. Moreover, the increasing number of patients associated with therapeutics pain treatment and cancer and other chronic disease pain is fueling the demand for the methadone market. Furthermore, the rising number of people seeking help for detoxification is expected to drive the market for methadone market in the coming years.
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Based on the mode of administration, the methadone market is segmented into oral medicine and injections. The oral medicine segment accounted for a significant market share and it is estimated that it will grow rapidly during the projected timeframe. it provides safety, ease of ingestion, pain avoidance, and versatility to accommodate.
Based on the end-users, the market is segmented into hospitals, rehab centers, drug stores, research centers, and others. The hospital segment accounted for a significant market share and it is estimated that it will grow rapidly during the projected timeframe owing to the increase in chronic pain patients as they come to hospitals for their treatment.
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North America to witness extensive growth
For a better understanding of the market adoption of the methadone market, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America constitutes a major market for the methadone industry owing to the growing incidence of drug addiction and the higher adoption rate of opioid analgesics.
According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global methadone market are Qinghai Lake Pharmaceutical Co. Ltd., Hikma Pharmaceuticals PLC, Central Pharma, Mallinckrodt Pharmaceuticals, Aurolife Pharma LLC, Eli Lilly and Company, Sanofi, Johnson Matthey, Tianjin central pharmaceutical co. ltd, VistaPharm Inc Several MA’s along with partnerships have been undertaken by these players to boost their presence in different regions.
“Global Methadone Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.
Market Segmentations:
- By Mode Of Administration (Oral Medicine, Injections)
- By Application (Pain Treatment, Detoxification, Maintenance Therapy, Others)
- By End-Users (Hospitals, Rehab Centers, Drug Stores, Research Centers, Others)
- By Region (North America, Europe, Asia-Pacific, Rest of the World)
- By Company (Qinghai Lake Pharmaceutical Co. Ltd., Hikma Pharmaceuticals PLC, Central Pharma, Mallinckrodt Pharmaceuticals, Aurolife Pharma LLC, Eli Lilly and Company, Sanofi, Johnson Matthey, Tianjin central pharmaceutical co. ltd, VistaPharm Inc.)
Key questions answered in the study:
- What are the current and future trends of the global methadone industry?
- How the industry has been evolving in terms of mode of administration, application, and end-users?
- How the competition has been shaping across the countries followed by their comparative factorial indexing?
- What are the key growth drivers and challenges for the global methadone industry?
- What is the customer orientation, purchase behavior, and expectations from the global methadone suppliers across various region and countries?
