Methadone Market Report

Market Insights

The Global Methadone Market is projected to grow from USD xx million in 2020 to USD xx million by 2026 at a CAGR of over xx % during the forecast period.

Figure: Global Methadone Market Size, 2020-2026 (USD Million)

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What is Methadone?

Pain is one of the most widely recognized ailments and about 85% of individuals are accounted to suffer from pain worldwide at some point in their life. Methadone is a synthetic narcotic analgesic, which is a part of a category known as opioids. This opioid drug has pharmacologic actions qualitatively similar to that of morphine. It is mainly used as a pain reliever and as a part of maintenance therapy and drug addiction detoxification.

Key Players

Key players operating in the global methadone market are-

• Eli Lilly and Company (The U.S),
• Sanofi (France),
• Roxane Laboratories (The U.S),
• Mallinckrodt (UK),
• Siegfried AG (Switzerland),
• Johnson Matthey (UK),
• Tianjin Central Pharma (China),
• Macfarlan Smith (UK), and
• Vistapharm (The U.S).

Market Dynamics

The growing prevalence of pain associated with post-surgical and therapeutic treatment of cancer and other chronic diseases is expected to be the prime factor driving the need for methadone.

• Moreover, rising incidents of opioid abuse and an increasing number of heroin and other drug accustomed people and their treatment that involves short-term administration of methadone hydrochloride further add to the substantial market growth.
• However, the high risks associated with the usage of methadone over patients suffering from breathing problems and severe asthma is expected to hamper the market expansion.

Segment Analysis

Route of Administration Trends

By route of administration, the global methadone market has been bifurcated into oral and injectable.

• The oral segment is further segmented into tablets and oral solutions.
• Under these, the oral segment witnessed the largest market share in 2020 and is likely to register a moderate CAGR in the coming years.
• This is mainly attributed to the high-performance efficiency and easy availability of the drug in various forms and dosages.

Regional Trends

By region, the North American market garnered the largest market share in 2020 and is likely to register a healthy CAGR during the review period.

• This is mainly attributed to the higher predominance of the agony and rising incidents of drug addiction, further boosting the regional growth.
• Moreover, high distress with rising occurrences of people utilization of methadone for chronic post-surgery pains.

COVID-19 Impact on Global Methadone Market

The outbreak of the COVID-19 virus has been challenging to the healthcare sector. Due to stringent lockdown measures and restricted movement on the streets, there has been a surge in drug overdosage in most parts of the world. Drug overdose deaths have substantially increased.

The US states are reporting a surge in drug fatalities in 2020 as the coronavirus pandemic has created new obstacles resulting in high opioid usage, risk, and abuse of relapse for those in recovery.

The people who are battling addiction, social distancing, and quarantine have led to disruption in treatment and recovery services as well as poor access to mental health services and peer support, thus affecting the methadone market growth.

Critical Questions Answered in the Report

• What are the key trends in the global methadone market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
• What is the impact of the COVID-19 on the global methadone market?
• What are the key strategies adopted by the major vendors to lead in the global methadone market?
• What is the market share of the top vendors?

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Target Audience

Here is the list of the group of customers that the Methadone market hopes to have the greatest opportunity to convert-

• Methadone companies
• Methadone vendors
• Opioid organizations
• Drug addiction organizations
• Hospitals

Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].