Methadone Market to Witness Growth at a Moderate CAGR during 2022 - 2030

New York, United States, Mar 16, 2022, 12:58 /Comserve / -- The global methadone market is estimated to grow at a moderate CAGR over the forecast period, i.e., 2022 - 2030.

Research Nester published a report titled 'Methadone Market : Global Demand Analysis & Opportunity Outlook 2030'which delivers detailed overview of the global methadone market in terms of market segmentation by form, application, end-user, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global methadone market is estimated to grow at a moderate CAGR over the forecast period, i.e., 2022 - 2030. The market is segmented on the basis of application, into pain treatment, detoxification, maintenance therapy, addiction rehabilitation, and others. Out of these, the addiction rehabilitation segment is anticipated to hold a notable share over the forecast period owing to the increasing cases of heroin abuse across the globe, along with the rising demand for methadone to help addicts quit heroin without facing withdrawal symptoms.

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The global methadone market is anticipated to grow on the back of rising demand for methadone for rehabilitation of heroin addicts, and as pain killers for long-term illnesses. Additionally, the growing prevalence of long-term illness, such as, arthritis, asthma, epilepsy, angina, heart failure, and hypertension, is estimated to boost the demand for methadone, as it is comparatively safer for daily consumption owing to its low abuse potential. According to the data by the World Health Organization (WHO), asthma caused 461000 deaths and 17.9 million people died from cardiovascular diseases in 2019. Further, over 50 million people worldwide presently suffer from epilepsy. Moreover, the growing investment in research activities in the healthcare sector are estimated to boost the market growth.

On the basis of geographical analysis, the global methadone market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is anticipated to gain the largest market share, throughout the forecast period. This can be attributed to the high demand for methadone in rehabilitation centers, along with presence of large number of drug rehab centers in countries, such as, U.S. and Canada. Moreover, the increasing cases of drug addiction in the region are estimated to boost the market growth. According to the Centre for Disease Control and Prevalence (CDC) in 2019, 70,630 deaths were caused by drug overdose in the United States.

The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players' competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

Increasing Prevalence of Drug Abuse to Boost the Market Growth

Methadone is extensively used in rehab centers to treat heroin addicts, which is estimated to boost the market growth. Moreover, increasing cases of heroin abuse, and other drug addictions across the globe, backed by increased circulation of such drugs, is anticipated to encourage the market growth. Along with this, the rising awareness regarding drug rehabilitation and detoxification is further predicted to fuel the growth of the market.

However, circulation of generic methadone, is expected to operate as key restraint to the growth of global methadone market over the forecast period.

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This report also provides the existing competitive scenario of some of the key players of the global methadone market which includes company profiling of Eli Lilly and Company, Sanofi S.A., Hikma Labs Inc., Mallinckrodt Pharmaceuticals, Siegfried Holding AG, Johnson Matthey, Gilead Sciences, Inc., Novartis AG, BioControl Medical, and Tianjin Central Pharmaceutical Industry Co., Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global methadone market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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