Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Methadone hydrochloride is the hydrochloride salt of methadone, a synthetic opioid with analgesic activity. Methadone hydrochloride is similar to morphine and other morphine-like agents, and exhibit therapeutics actions against analgesia, euphoria, sedation, respiratory depression, miosis, bradycardia, and physical dependence. Methadone hydrochloride has prolonged half-life compared to other morphine-like agents such as heroin, the onset of opiate withdrawal symptoms is slower, the duration of opiate withdrawal is prolonged, and opiate withdrawal symptoms are less severe.
The global methadone hydrochloride market is estimated to be valued at US$ 105.3 million in 2020 and is expected to exhibit a CAGR of 4.0% during the forecast period (2020-2027).
Figure 1. Global Methadone Hydrochloride Market Value (US$ Mn), 2016-2027
The global methadone hydrochloride market is primarily driven by increasing prevalence of pain associated with therapeutic and post-surgical treatment, which in turn increases demand for methadone hydrochloride. For instance, according to the report published by the U.S. Department of Health & Human Services in September 2018, in 2016, an estimated 20.4% of the U.S. adults had chronic pain and 8.0% of the U.S. adults had high-impact chronic pain. Both chronic pain and high impact chronic pain were more prevalent among adults living under poverty.
Furthermore, development and launches of novel methadone hydrochloride products by key companies is expected to drive the market growth over the forecast period. For instance, in November 2018, Elite Pharmaceuticals, Inc., a specialty pharmaceutical company developing abuse-deterrent opioids and niche generic products, announced the commercial launch of generic methadone hydrochloride 5 mg and 10 mg tablets by Glenmark Pharmaceuticals, Inc., U.S., (Glenmark), Elite’s marketing alliance partner. Through this alliance, Glenmark will sell and distribute certain generic products of Elite, including methadone, for which Elite will receive manufacturing and license fees.
Methadone Hydrochloride Market Report Coverage
||Market Size in 2020:
||US$ 105.3 Mn
|Historical Data for:
||2016 to 2019
||2020 to 2027
|Forecast Period 2020 to 2027 CAGR:
||2027 Value Projection:
||US$ 138.8 Mn
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East: GCC, Israel, and Rest of the Middle East
- Africa: South Africa, North Africa, and Central Africa
- By Formulation: Tablet, Solution, Others.
- By Application: Opiate Withdrawal, Chronic Pain, Others.
- By Route of Administration: Oral, Intravenous.
- By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies.
Eli Lilly and Company, Sanofi S.A, Hikma Pharmaceuticals PLC, Mallinckrodt Pharmaceuticals, Siegfried Holding AG, Johnson Matthey, Tianjin Central Pharmaceutical Co., Ltd, Temad Co, Embio LTD, Harman Finochem Ltd, and Rusan Pharma Ltd
- Increasing prevalence of pain associated with therapeutic and post-surgical treatment
- Increasing drug abuse globally
|Restraints & Challenges:
- Side effects such as constipation, nausea, sleepiness, vomiting, tiredness, headache, dizziness, and stomach pain and also, patients might get addicted to methadone hydrochloride are associated with use of methadone hydrochloride
Global Methadone Hydrochloride Market – Impact of Coronavirus (COVID-19)
Following the outbreak of COVID-19 in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization declared it a public health emergency. According to the World Health Organization’s report, manifestation of coronavirus (COVID-19) has resulted in more than 69.9 million infected individuals worldwide as of December 11, 2020.
Moreover, COVID-19 has impacted each and every market around the world, and is expected to affect the global methadone hydrochloride market. Therefore, governments of various countries are taking various initiatives to combat COVID-19. For instance, in May 2020, the Centers for Disease Control and Prevention started working with government agencies and research institutes to increase testing capacity, improve case detection, and contact tracing across all states in the U.S. and re-open the country.
Furthermore, In response to a reduction in the accessibility of COVID-19 treatment service provision during the lockdown, some countries have increased low-threshold services and reduced barriers for obtaining opiate-substitution medication; for instance, allowing pharmacies to dispense methadone such as in the U.K. In order to increase accessibility to opioid-substitution therapy, the U.K. is planning to dispense methadone without new prescriptions to those who already use it, although the measure has triggered concerns by the Advisory Council on the Misuse of Drugs that it may lead to an increase in drug misuse and diversion.
Figure 2. Global Methadone Hydrochloride Market Share (%), By Region, 2020
North America is expected to hold dominant position in the global methadone hydrochloride market, owing to higher prevalence of chronic pain related to cancer and post-surgical pain. According to the report published by the Centers for Disease Control and Prevention (CDC) in 2018, over 1 in 5 adults in the U.S. experienced chronic pain in 2018
Major players operating in the global methadone hydrochloride market include Eli Lilly and Company, Sanofi S.A, Hikma Pharmaceuticals PLC, Mallinckrodt Pharmaceuticals, Siegfried Holding AG, Johnson Matthey, Tianjin Central Pharmaceutical Co., Ltd, Temad Co, Embio LTD, Harman Finochem Ltd, and Rusan Pharma Ltd.