Global Methadone Hydrochloride Market, by Formulation (Tablet, Solution, and Others), by Application (Opiate Withdrawal, Chronic Pain, and Others), by Route of Administration (Oral and Intravenous), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), 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), as highlighted in a new report published by Coherent Market Insights.
Key companies are focusing on investing in facility expansions, which is expected to drive the global methadone hydrochloride market. For instance, in April 2016, Rusan Pharma Ltd. build R & D center and a specialized manufacturing unit at the Kandla special economic zone (SEZ), Gujarat, in order to develop novel pharmaceutical products.
Global Methadone Hydrochloride Market – Impact of Coronavirus (COVID-19)
- The COVID-19 pandemic has drastically impacted each and every market across the world and it is also expected to impact methadone hydrochloride market
- COVID-19 can affect the global methadone hydrochloride market in three main ways; by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, UAE, Egypt, and others are facing problems with regards to transportation of drugs from one place to another.
- Furthermore, players operating in the global methadone hydrochloride market are facing major challenges on various fronts due to the COVID-19 pandemic. The major challenges include supply of raw materials required for manufacturing drug formulations due to irregularities in transportation facility. Moreover, distributors of pharmaceutical products are experiencing irregular demand for pharmaceutical products from the retailers due to increasing number of patients suffering from COVID-19 and other life threatening disorders.
Browse 44 Market Data Tables and 34 Figures spread through 180 Pages and in-depth TOC on “Global Methadone Hydrochloride Market, by Formulation (Tablet, Solution, and Others), by Application (Opiate Withdrawal, Chronic Pain, and Others), by Route of Administration (Oral and Intravenous), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa),
To know the latest trends and insights prevalent in the global methadone hydrochloride market, click the link below:
https://www.coherentmarketinsights.com/market-insight/methadone-hydrochloride-market-4343
The global methadone hydrochloride market is expected to witness significant growth during the forecast period, owing to key players focusing on inorganic strategies such as mergers and acquisitions. For instance, in September 2020, Siegfried Holding AG signed binding agreements with Novartis about the acquisition of two Novartis pharmaceutical manufacturing sites in Spain. With this acquisition, Siegfried will significantly enhance its global production network of pharmaceutical products in terms of capacity and technological capabilities.
Key Takeaways of the Global Methadone Hydrochloride Market:
- The global methadone hydrochloride market is expected to exhibit a CAGR of 4.0% during the forecast period, owing to rising incidence of methadone hydrochloride drug abuse globally. For instance, According to the National Institutes of Health (NIH) 2015 data, there was a 2.8 fold increase in deaths in the U.S. due to overdose of opioid during period of 2002–2014. The death incidence due to overdose of methadone hydrochloride was raised around 33,000 in 2015 from 23,000 in 2012 in the U.S.
- Among formulation type, tablet segment is estimated to hold major market share in the global methadone hydrochloride market during the forecast period, owing to key players focusing on strategies such as sales and distribution of its products to strengthen their positioning in the market. For instance, ELI LILLY AND COMPANY has three wholesale distributors in the U.S., namely McKesson Corporation, AmerisourceBergen Corporation, and Cardinal Health, Inc. Moreover, the company promotes its products through medical representatives to physicians and other healthcare professionals in the U.S.
- Among application, chronic pain segment is estimated to hold major market share in the global methadone hydrochloride market during the forecast period, owing to rising prevalence of pain associated with therapeutic and post-surgical treatment in cancer and other disease treatment therapy. According to the article published in American Society of Anesthesiologists, in 2014, chronic pain affects at least 10% of the world's population which is approximately 60 million people in the world and one in 10 people develop chronic pain every year, worldwide.
- Among route of administration, oral segment is estimated to hold major market share in the global methadone hydrochloride market during the forecast period, owing to advantages offered by oral route of administration include patient safety, good patient compliance, ease of ingestion, pain avoidance, and versatility to accommodate various types of drugs
- Key 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
