Methadone hydrochloride exerts its therapeutic efficacy by working on the mu receptor present in the central nervous system, which is used in multiple formulations and concentrations of 5mg/5ml, 10mg/ml for oral administration, and 10mg/ml solution for parenteral administration. The rising prevalence of narcotic drug abuse and increasing demand for methadone hydrochloride for managing chronic pain in cancer and musculoskeletal disorders accentuates its market growth.
Opioid addiction treatment is spearheading the clinical application segment for the methadone hydrochloride market. Addiction is a psychological disorder resulting in a craving for opioid analgesics most often causing Opioid misuse means the narcotic drugs are taken without medical supervision and doctor’s prescription. As per the statistics brought forward by the World Health Organization (WHO) annually approximately 15 million worldwide are reported for opioid addiction.
Oral administration of methadone hydrochloride of 5 mg or 10 mg for a few weeks is helpful is prescribed for opioid addiction treatment. Pain management therapy is significantly gaining solid grounds owing to the rising prevalence of cancer patients worldwide suffering from chronic pain. Different combinations of methadone hydrochloride and NSAIDS are used for managing chronic pain in medical conditions such as joint disorders, back pain, surgery, arthritis, etc.
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Hospital pharmacy is holding the largest market share in the distribution channel segment for the methadone hydrochloride market. Adjustment of a precise dose of methadone hydrochloride is essential for treating opioid addiction patients which are done in the hospital pharmacy on the developed regions. Retail pharmacy is gaining tremendous traction in the developing region owing to the rising prevalence of occupational hazards causing musculoskeletal disorders, hence increases the demand for a cheap generic version of methadone hydrochloride.
North America is presently dominating the geography segment for the methadone hydrochloride market. The rising prevalence of opioid drug abuse chiefly determines its market growth. The National Institute of Health (NIH), provides vital information that annually approximately 2 million Americans are suffering from narcotic drug addiction. Affordable reimbursement scenario for the use of methadone hydrochloride as a medicinal agent in the pain management therapy further propels the market growth in the region.
The market growth in Europe is primarily driven by the rising prevalence of the geriatric population suffering from chronic pain associated with musculoskeletal disorders such as osteoarthritis, rheumatoid arthritis, joint disorders, etc. Asia Pacific is going to register steady market growth during the forecast period owing to the rising prevalence of cancer patients suffering from chronic pain and the presence of a well-established generic drug market.
Pharmaceutical companies actively engaged in providing medicines for the treatment of methadone hydrochloride are Eli Lilly & Company, Sanofi S.A., Mallinckrodt Pharmaceuticals, Siegfried AG, Roxane Laboratories, Inc., Aurolife Pharma, LLC., Elite Pharmaceuticals, Inc., Teva Pharmaceutical Industries Ltd., Sandoz, Inc., and Rosemont Pharmaceuticals Ltd.
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Market Key Takeaways:
- Significant rise in the number of cancer patients suffering from chronic pain worldwide
- Rising prevalence of opioid drug addiction and drug abuse among the young population throughout the globe
- Affordable reimbursement scenario for the methadone formulations employed in pain management therapy
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