United States Suboxone Market Poised for Growth Due to Increasing Opioid Abuse Cases

United States Suboxone Market Poised for Growth Due to Increasing Opioid Abuse Cases

Suboxone, comprising buprenorphine and naloxone, is a medication used for treatment of opioid dependence. It helps reduce withdrawal symptoms and cravings when discontinuing opioid use. The need for medication-assisted treatment of opioid use disorders has been increasing in the US due to growing incidence of opioid abuse. Persistent addiction and continuous relapses have boosted the demand for long-term treatment options like Suboxone.

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.

Availability of America Suboxone films and strips in different doses and ease of ingestion have further augmented market growth. It provides a safer treatment alternative to methadone for outpatient detoxification and maintenance programs.

Key Takeaways

Key players operating in the United States 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 leads the market with its patented SUBLOCADE injection and Suboxone films.

The market offers opportunities for biosimilars and generic versions as Indivior'sSuboxone film patents start expiring in 2023. This will intensify price competition and make treatment affordable for more patients. Major players are exploring emerging economies in Asia Pacific and Latin America for sustaining global market share.

Adoption of telemedicine and digital health solutions during the pandemic has further boosted access and continuity of opioid addiction treatment. Online prescribing and delivery of Suboxone reduces stigma and makes therapy convenient. This trend is likely to continue post-Covid as well.

Market Drivers

Increasing rate of opioid abuse disorders due to easy availability of prescription painkillers and heroin. According to National Institute of Drug Abuse, around 2 million Americans suffer from prescription opioid and heroin use disorders.

Soaring healthcare costs of untreated opioid addiction estimated to be over $78 billion annually in medical care, lost work productivity, addiction treatment, and criminal justice involvement. This makes medication-assisted treatment financially viable in the long-run.

Market Restrain

Stringent regulations for dispensing buprenorphine-based drugs like Suboxone limit their use only to certified treatment centers and healthcare professionals. This poses challenges in increasing access in rural areas.

Risk of diversion, misuse or overdose of Suboxone if not taken and stored properly. It may lead to regulatory crackdowns or interrupt supply like the shortages faced during the initial Covid months.

Potential side-effects with long-term use including headache, constipation, nausea, increased sweating, insomnia etc. This can discourage complete adherence to therapy.

Segment Analysis

The United States of America Suboxone market is segmented into strips/films and tablets. The strips/films segment accounted for the largest market share in 2021 owing to its ease of administration and convenience. The strips dissolve easily under the tongue allowing for sublingual absorption as opposed to swallowing tablets whole. This sub segment is expected to continue dominating the market over the forecast period.

Global Analysis 

Regionally, the South dominated the United States of America Suboxone market in 2021. High prevalence of opioid addiction and broad acceptance of medication-assisted treatment in the region have contributed to its leading position. Furthermore, the presence of numerous treatment facilities offering suboxone as part of de-addiction programs boost the market. The West is projected to witness the highest growth during the forecast period owing to rising awareness about opioid dependence and expanded Medicaid coverage for medication-assisted treatment in several states of the region.

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

Q.1 What are the main factors influencing the United States of America Suboxone?

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Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top United States of America Suboxone companies compare in terms of sales, revenue, and prices?

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Author Bio:

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)