(I-BusinessNews.Com, August 02, 2021 ) Methadone Market size is estimated to reach $105.3 million by 2026, growing at a CAGR of 4% over 2021-2026. Methadone is a medication that is used to treat chronic pain and is a synthetic narcotic analgesic which is part of a category called opioids. Methadone have a class of drugs known as opioid analgesics which is indicated for the management of pain in patients. Methadone has some affinity for the NMDA ionotropic glutamate receptor and also acts by binding to the µ-opioid receptor where the agonism of the µ-opioid receptors is used for the treatment of pain.
Acute encephalopathy are detected in methadone intoxicated patients where brain MRI is helpful for the detection of methadone-induced encephalopathy. Growing prevalence of chronic diseases among people and rising incidence in opioid misuse are the major factors driving the growth of this market. Furthermore, increasing research and development activities regarding drugs is set to further enhance the overall market demand for Methadone Market for the period 2021-2026.
Methadone Segment Analysis – By Route of Administration
The global Methadone Market based on Route of Administration can be further segmented into Oral, and Injectable. The Oral segment is the major segment generating revenue in 2020. This is owing to the availability of drugs in in various forms and dosage. Moreover, it provides safety, ease of ingestion, pain avoidance and versatility to accommodate. The Injectable segment is estimated to register the fastest CAGR of 0.5% for the period 2021-2026. This is owing to the quick results and action in pain that increases the demand of injectable route of administration leading to the growth of this segment.
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Methadone Segment Analysis – By Therapeutic Area
The global Methadone Market based on Therapeutic Area can be further segmented into, Pain Treatment, Detoxification, and Maintenance Therapy. The pain treatment segment registers for the Methadone highest market share in 2020. This is owing to methadone is an effective narcotic analgesic which is used in the treatment of patients with pain. Moreover, it is inexpensive and relatively safe that increases the demand of methadone in pain treatment and are rising the growth of this segment. The Detoxification segment is estimated to register the fastest CAGR of 1.5% over 2021-2026. This is mainly owing to methadone works as detoxification that improve energy, improve complexion and also reduce acute encephalopathy that increases the demand of methadone and are increasing the growth of this market.
Methadone Segment Analysis – By Geography
North America dominated the Methadone Market with major share of 40% in 2020. This is owing to growing incidence of drug addiction and higher adoption rate of opioid analgesics. According to United Nation Office on Drug and Crime (UNODC) in 2017, more than 47,000 people have deaths owing to opioid overdose that increases the demand of methadone which acts as opioid receptors and are rising the growth of this market. However, Asia Pacific is estimated to outpace all the regions by clocking the highest CAGR of 2% during the forecast period 2021-2026 owing to rising population and increasing development in healthcare.
Methadone Market Drivers
Growing Prevalence of Chronic Disease
Growing number of patients associated with therapeutic pain treatment and other chronic disease increases the growth of the Methadone Market. According to National Health Council, in 2020 about 157 million in U.S. have chronic disease that increasing the use of methadone as it provides ionotropic glutamate receptor and are increasing the growth of the Methadone Market over 2021-2026.
Rising Incidence in Opioid Misuse
Rising number of people addicted with various opioid such as heroin and morphine is driving the growth of this market. Moreover, increase in awareness towards the use of this medication which can be used for pain management also increases the growth of Methadone Market over 2021-2026.
Covid-19 Impact:
COVID-19 pandemic had greatly affected the Methadone Market. Owing to pandemic, there is lockdowns, shutdowns of clinics and many more where people are getting pediatric for their treatment in clinics owing to increasing risk of spreading virus that decreases the demand of methadone and are negatively affected the growth of this market.
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Methadone Market Challenges
Increasing Side Effects
The factors that is set to impede the growth of the Methadone Market are increasing side effects such as constipation, nausea, vomiting etc. Moreover, stringent government approval is set to create hurdles for the Methadone Market.
Methadone Market Landscape
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Methadone Market. Methadone top 10 companies include, Diskets, Methadoes, Aurolife Pharma LLC., Macfarlan Smith, VistaPharm, Qinghai Pharm, CentralPharm, Mallinckrodt, AIMS, and Roxane.
Developments
In October 2019, AIMS (All India Institute of Medical Science) has launched new mobile vans treatment for opioid addicted patients that helps to reduce opioid reduction. So, the Methadone drugs are provided to patients and are increasing the market growth.
Key Takeaways
Geographically, in 2020, North America dominated the Methadone Market owing to growing incidence of drug addiction and higher adoption rate of opioid analgesics.
Growing prevalence of chronic disease and rising incidence in opioid misuse are likely to aid in the market growth of the Methadone.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Methadone Market report.
Increasing side effects is set to create hurdles for the Methadone Market.
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