Global Methadone Market is expected to foresee significant growth. North America to lead the growth!
Global Methadone market is expected to register a CAGR of approx. 4% over the period of 2022-2028. Methadone, a synthetic narcotic analgesic, belongs to a category called opioids. This opioid has pharmacological effects that are qualitatively similar to morphine. Methadone is commonly used as an analgesic and as part of drug addiction detoxification and maintenance therapy. This drug helps reduce cravings and withdrawal symptoms in opioid addicts. Additionally, it helps block high levels in parts of the brain and spinal cord caused by opiate use. Methadone helps manage supplements for patients who are dependent on heroin, morphine, or prescription pain relievers. The global 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. 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 to 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 application, the market is fragmented into pain treatment, detoxification, maintenance therapy, and others. the pain treatment segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period Because methadone is a powerful narcotic analgesic used to treat pain patients.
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For a better understanding of the market adoption of 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.
Some of the major players operating in the market include 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.
Global Methadone Market Segmentation
Market Insight, by Mode Of Administration
Market Insight, by Application
- Pain Treatment
- Maintenance Therapy
Market Insight, by End Users
- Rehab Centers
- Drugs Stores
- Research Centers
Market Insight, by Region
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- Qinghai Lake Pharmaceutical Co.,Ltd.
- Hikma Pharmaceuticals PLC
- Central Pharma
- Mallinckrodt Pharmaceuticals
- Aurolife Pharma LLC
- Eli Lilly and Company
- Johnson Matthey
- tianjin central pharmaceutical co. ltd
- VistaPharm Inc.