Codeine is a drug of class known as opioids, widely used in the treatment and management of mild to moderate pain, severe pain, dry irritating cough, diarrhea, and cold and flu (when combined with antihistamines and decongestants). Opioids interact with opioid receptors in the brain and induce effects such as pain relief, relaxation, pleasure, and contentment. Codeine is usually swallowed and comes in different forms, including tablets, capsules, and solutions/syrups.

Codeine Market Drivers

Codeine is widely used in the treatment and management of pain and cough. High prevalence of pain due to increasing ageing population in key regions such as North America, and Asia- Pacific is expected to significantly increase demand for codeine formulation and drive global codeine market growth over the forecast period.

For instance, according to the data published by National Health Interview Survey (NHIS) in 2016, it was estimated that around 20.4% (50.0 million) of the adults in the U.S. are suffering from chronic pain and around 8.0% of adults in the U.S. (19.6 million) had high impact chronic pain.

According to a study published by the National Centre for Biotechnology Information (NCBI) in 2015, around 19.6% of the individuals aged between 20 to 60 years were suffering from low back pain worldwide.

Codeine Market Regional Analysis

North America codeine market is expected to hold a dominant position in the global codeine market and to account for largest market share over the forecast period, owing to high presence of key players in the region and approval and launch of novel products by them in the region.

For instance, in 2015, Tris Pharma, Inc. received U.S. Food and Drug Administration approval and launched its Tuzistra XR (codeine polistirex and chlorpheniramine polistirex), extended-release oral suspension, CIII (DEA Schedule III) in the U.S. market. Tuzistra XR is indicated for the treatment and relief of cough and symptoms associated with upper respiratory allergies or a common cold in adults aged 18 years and older.

Codeine Market Restraint

Stringent regulations in key regions for codeine formulation is expected to be a major factor restraining growth of the codeine market in the near future. For instance, in February 2018, The Therapeutic Goods Administration reclassified codeine as prescription only medicine in Australia, which was previously available as over-the-counter medication. The fact behind this reclassification was that regular use of medicines containing codeine may lead to its addiction.

Similarly, Health Canada also proposed to ban non-prescription codeine sales in 2017. Reclassification of codeine to prescription drugs is expected to hinder its sales and adoption and is expected to restrain the global codeine market growth over the forecast period

Codeine Market Key Players

Key players operating in global codeine market include: Nexgen Pharma, Inc., Teva Pharmaceutical Industries Ltd., Wraser Pharmaceuticals LLC, Larken Laboratories, Inc., Aurobindo Pharma Limited, Sun Pharmaceutical Industries Limited, Tris Pharma Inc., and Johnson & Johnson.

Codeine Market Taxonomy:

The global codeine market is segmented on the basis of indication, age group, dosage form, distribution channel, and region

By Indication-

  • Pain Management
  • Cough Management

By Age Group

  • Pediatric
  • Adults

By Dosage Form-

  • Tablet
  • Capsule
  • Solution/Syrup

By Distribution Channel-

  • Hospitals Pharmacies
  • Retail Pharmacies
  • Online pharmacies

By Region-

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East
  • Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users