SEATTLE, April 25, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global suboxone market is estimated to be valued at US$ 6,163.9 million in 2022 and is expected to exhibit a CAGR of 4.0% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Suboxone Market:
Major players operating in the market are focusing on adopting inorganic growth strategies such as agreements, which is expected to drive the global suboxone market growth over the forecast period. For instance, in February 2019, Indivior PLC, a global pharmaceutical company, announced that it entered into a definitive agreement to divest its rights to sale for suboxone sublingual tablets in China to Zhejiang Pukang Biotechnology Co., Ltd., a company that produces and sells vaccine products.
Key Market Takeaways:
The global suboxone market is expected to exhibit a CAGR of 4.0% during the forecast period, due to the increasing launches of generic suboxone drugs. For instance, in June 2021, Alkem Labs, a global generic and specialty pharmaceutical company, got the U.S. Food and Drug Administration approval for Buprenorphine hydrochloride and Naloxone hydrochloride sublingual tablets, the generic version of Suboxone used to treat opioid addiction.
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Among type, the generics segment is expected to dominate the segment growth over the forecast period, owing to increasing generic suboxone drug launches. For instance, in February 2019, Sandoz, a Novartis division for generic pharmaceuticals and biosimilars, announced the launch of authorized generic of suboxone (buprenorphine and naloxone) sublingual film (CIII), brand by Indivior Inc., a specialty pharmaceutical company, in all four dosage strengths (2mg/0.5mg, 4mg/1mg, 8mg/2mg and 12mg/3mg) in the U.S. Buprenorphine and naloxone sublingual film is indicated for the treatment of opioid dependence.
Among regions, North America is estimated to account for largest share in the global suboxone market over the forecast period. This is mainly attributed to the increasing adoption of inorganic strategies by key players such as acquisitions. For instance, in December 2020, BayMark Health Services, a provider of health care services, acquired Choices of Louisiana, an opioid treatment company consisting of three Opioid Treatment Programs (OTPs), one in Alexandria and two in the New Orleans, LA market. The programs provide medication-assisted treatment (MAT) for opioid addiction supported by substance use counseling. The company provides services under the BayMark brand BAART Programs, which currently operates in Breaux Bridge, Louisiana.
Competitive Landscape:
Key players operating in the global suboxone market include Indivior PLC, Dr. Reddy’s Laboratories Ltd., Amneal Pharmaceuticals LLC., Mylan N.V., Novartis AG, Teva Pharmaceutical Industries Ltd., Mallinckrodt, Lannett Co Inc., Rhodes Pharmaceuticals L.P., Alvogen, Sun Pharmaceutical Industries Ltd., Alkem Labs, and Hikma Pharmaceuticals PLC.
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Market Segmentation:
- Global Suboxone Market, By Type:
- Branded
- Generics
- Global Suboxone Market, By Formulation:
- Tablets
- Films
- Global Suboxone Market, By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Global Suboxone Market, By Region:
- North America
- By Country
- U.S.
- Canada
- By Country
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Region/Country
- South Africa
- Central Africa
- North Africa
- By Region/Country
- North America
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