by The United States of America Suboxone market comprises drugs containing a combination of buprenorphine and naloxone used for the treatment of opioid addiction. Suboxone is increasingly being used as a safer alternative to methadone for medication-assisted treatment of opioid dependence. The drugs help in alleviating withdrawal symptoms caused due to discontinuation of opioid substances and reduce cravings for opioids. The flexible dosing and lower potential for misuse and abuse compared to methadone have resulted in increasing preference for Suboxone among medical practitioners and patients in the country.
The United States of America Suboxone Market is estimated to be valued at US$ 2,285.5 Mn in 2024 and is expected to exhibit a CAGR of 4.1% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the United States of America Suboxone market are Indivior PLC., Dr. Reddy’s Laboratories Ltd., Amneal Pharmaceuticals LLC., Mylan N.V., Novartis AG, Teva Pharmaceutical Industries Ltd., Mallinckrodt, Lannett Co Inc., Sun Pharmaceutical Industries Ltd., and Alkem Labs. Indivior PLC. currently dominates the market with its blockbuster drug Suboxone film.
The market offers high growth opportunities for generics players as Indivior’s patents on Suboxone film are set to expire during 2023-2024. Players are focusing on developing cheaper generic versions to gain market share.
The increasing number of opioid addiction cases across the United States represents an opportunity for market players to expand in high prevalence states through partnerships with treatment centers. Players are also exploring emerging markets in Asia Pacific and Latin America with growing opioid crises.
Market Drivers
The major market driver is the rising cases of substance and opioid abuse disorders in the United States. According to the National Survey on Drug Use and Health, over 2 million people suffered from substance use disorders related to prescription opioid pain relievers and 652,000 had a heroin use disorder in 2020. This is expected to drive increased demand for safer medication-assisted treatments like Suboxone over the forecast period.
PEST Analysis
Political: The US suboxone market is regulated by laws and acts passed by the US government related to drug abuse and addiction treatment, which impacts availability and reimbursement for suboxone products.
Economic: Economic growth and healthcare spending impacts demand for addiction treatment drugs like suboxone. Recession may negatively impact the market.
Social: Increased social acceptance and understanding of addiction as a disease drives demand for evidence-based treatment options like suboxone. Stigma still remains a challenge.
Technological: New drug delivery methods and formulations allow for safer, easier administration and improve patient compliance. Telemedicine expanded access during the pandemic and may continue to shape the market.
The United States represents a major share of the global Suboxone market in terms of value currently, due to the large patient population needing opioid addiction treatment in the country. Within the US, regions with higher rates of opioid abuse like West, Midwest and Northeast generate the highest demand currently.
The Suboxone market in Canada is projected to experience the fastest growth during the forecast period. Factors like growing awareness, reducing stigma around medication-assisted treatment and policy-level priority on the opioid crisis are expected to drive stronger growth in the Canada compared to other regions. No new entrants are expected, while existing players are likely to focus on expanding geographic reach and access to drive the market growth through the period.
What Are The Key Data Covered In This United States Of America Suboxone Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the United States Of America Suboxone ‘s growth between 2024 and 2031.
:- Accurate calculation of the size of the United States Of America Suboxone and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- United States Of America Suboxone Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of United States Of America Suboxone vendors
FAQ’s
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About Author - Vaagisha Singh
Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups. LinkedIn
