Suboxone Market

Global Suboxone Market Size (2023 to 2028)

The size of the global suboxone market is estimated to be worth USD 7.83 billion by 2028 from USD 6.47 billion in 2023, growing at a CAGR of 3.88% from 2023 to 2028.

Global Suboxone Market Share Insights:

• Based on type, the generics segment had the major share of the global market in 2022.
• Based on formulation, the tablets segment accounted for the leading share of the global market in 2022.
• Based on region, North America held the largest share of the global market in 2022.

Impact of COVID-19 on the global suboxone market:

The COVID-19 outbreak has had a substantial influence on the global market for suboxone. The COVID-19 pandemic has contributed to the growth of the suboxone market. As previously mentioned, the pandemic has exacerbated tension, mental health issues, and social isolation, which can lead to an increase in substance misuse and addiction. During these difficult times, the demand for accessible and effective treatment options like suboxone has increased. The pandemic has raised people's stress, fear, and mental health issues, which can exacerbate problems with drug use, particularly opioid addiction. The upheaval of daily routines, social isolation, and economic uncertainty have created a tough environment for people battling addiction. As a result, the demand for Suboxone went high. The use of drugs like suboxone, which can be administered and monitored remotely, has grown because of the transition to remote treatment options. Overdoses from opioids have been a recurring public health emergency, and the COVID-19 epidemic has increased the dangers of opioid usage even more. The pandemic's focus on harm reduction strategies has boosted knowledge of and use of drugs like suboxone as part of all-encompassing addiction therapy. Overall, the COVID-19 pandemic has accelerated the demand for suboxone and similar medications in the global market.

MARKET DRIVERS:

The rising incidence of opioid addiction and the need for efficient treatment alternatives majorly drive the growth of the suboxone market. Opioid addiction has become a major public health issue around the globe as more people struggle with opioid dependency. According to the World Drug Report 2020 by the UN Office on Drugs and Crime, 53 million persons worldwide were thought to have opioid use disorders in 2018. Traditional treatment approaches often emphasised abstinence-based models, while medication-assisted therapy (MAT) is increasingly becoming popular for its efficacy in treating opioid addiction. To provide a holistic approach to treatment, MAT combines medicine, such as suboxone, with counselling and behavioural therapy. Due to a better success rate in avoiding relapse and enhancing treatment results, this strategy has garnered favour from healthcare professionals.

The growing number of initiatives and policy shifts from the governments of various countries contributes to the growth of the suboxone market. Many countries have implemented measures to combat the opioid crisis, such as expanding access to medication-assisted treatment (MAT) services, promoting harm reduction strategies, and reducing the stigma associated with addiction. In the United States, for instance, the Comprehensive Addiction and Recovery Act (CARA) and the SUPPORT for Patients and Communities Act have sought to increase access to MAT, such as suboxone, and enhance the overall response to the opioid epidemic.

The growing awareness among people regarding suboxone drives the market growth. The information on the effectiveness and safety of suboxone in treating opioid addiction has been made more widely available via education campaigns, advocacy initiatives, and healthcare professional training programmes. Consequently, more people and medical professionals are realising suboxone's importance as a key instrument in the therapeutic landscape.

MARKET RESTRAINTS:

The stringent regulatory framework surrounding the prescription and distribution of suboxone is one of the key factors hampering market growth. Due to its classification as a controlled substance, suboxone is subject to strict regulations and prescribing guidelines to prevent misuse, diversion, and illicit distribution. This can limit the accessibility and availability of suboxone treatment for some individuals in need. The stigma attached to opioid addiction and medication-assisted therapy (MAT), which discourages people from seeking help further impedes market growth. The high cost of suboxone treatment can also act as a barrier, particularly for patients with financial constraints and inadequate insurance coverage. As a result, the high cost of treatment may limit the widespread adoption of suboxone.

REPORT COVERAGE: 

This research report on global suboxone market has been segmented and sub-segmented based on the following categories.

Global Suboxone Market – By Type:

• Branded
• Generics

Based on type, the generics segment is expected to witness the highest 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, launched authorised generic suboxone (buprenorphine and naloxone) sublingual film (CIII) in all four dosage strengths in the U.S. Buprenorphine-naloxone sublingual film treats opioid dependency. The growing demand for affordable medication options in regions with limited healthcare budgets or high out-of-pocket expenses, growing market competition and patent expirations that drive the entry of generic manufacturers and rising acceptance and trust in generic medications among healthcare providers and patients propel the growth of the generics segment in the global market. Generic Suboxone is cheaper than branded Suboxone, making it more affordable to many patients. Additionally, competition from multiple generic Suboxone manufacturers may lower prices and boost availability.

Global Suboxone Market – By Formulation:

• Tablets
• Films

Based on formulation, the tablets segment is expected to occupy the major share of the global market in the coming years.  Long-standing use and acceptance of Suboxone tablets as an effective treatment option for opioid dependence majorly drive the growth of the tablets segment. Physician prescribing habits and familiarity with tablet formulations and the availability of generic tablet formulations that offer cost-effective alternatives to branded Suboxone tablets further propel the growth of the tablets segment in the global market.

The films segment is predicted to capture a substantial share of the global market during the forecast period. Patient preference for the film formulation due to its user-friendly administration and improved taste compared to tablets is one of the major factors propelling the growth of the films segment in the global market. The growing acceptance of sublingual film formulations among healthcare providers as a preferred option for medication-assisted treatment and improved availability and promotion of Suboxone films by pharmaceutical companies further fuel the growth rate of the films segment in the worldwide market.

Global Suboxone Market – By Distribution Channel:

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

The online pharmacies segment is picking up the pace and is estimated to hold a substantial share of the global market during the forecast period. The growing trend of online shopping and e-commerce in the healthcare sector, including pharmaceuticals, patient preference for online purchasing due to privacy concerns or limited accessibility to physical pharmacies primarily drive the growth of the online pharmacies segment.

Global Suboxone Market – By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

North America led the suboxone market in 2022 and the lead of the North American region is estimated to continue throughout the forecast period. The growing patient population suffering from opioid addiction and the need for effective treatment options drives the growth of the North American market. As per the information published by the National Survey on Drug Use and Health, an estimated 10.1 million people aged 12 or older in the United States misused opioids in 2020. Supportive regulatory environment and initiatives to expand access to medication-assisted treatment and strong presence of key pharmaceutical companies offering Suboxone products primarily drive the growth of the suboxone market in the North American region. The U.S. is expected to hold the largest share of the North American market during the forecast period owing to the high prevalence of opioid addiction and the well-established healthcare infrastructure.

The Asia-Pacific suboxone market is predicted to grow at the fastest CAGR among all the regions in the global market during the forecast period. The growing prevalence of opioid addiction and the need for effective medication-assisted treatment options in the region and increasing number of initiatives from the governments of APAC countries to address the opioid crisis drive the growth of the suboxone market in the Asia-Pacific region. The growing number of collaborations between pharmaceutical companies and healthcare providers to expand market presence and increase awareness further propel the regional market growth.

Europe is a notable regional market for suboxone worldwide and is expected to witness a prominent CAGR during the forecast period. The growing number of initiatives and funding from the governments of European countries for addiction treatment programs that includes the availability of Suboxone, increasing number of improvements in the healthcare infrastructure, improved access to substance abuse treatment centers drive the growth of the European market majorly. The growing acceptance of medication-assisted treatment and integration of Suboxone into comprehensive addiction management programs further boosts the growth rate of the European market.              

KEY MARKET PLAYERS:

Indivior PLC, Mundipharma, Mallinckrodt Pharmaceuticals, Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd., Hikma Pharmaceuticals PLC, Mylan N.V., Alvogen, Dr. Reddy's Laboratories Ltd. and Sandoz International GmbH are some of the major companies in the global suboxone market.

RECENT HAPPENINGS IN THE MARKET:

• In June 2023, the British Columbia (BC) province claims to be the first in Canada to provide universal coverage for medications used to treat opioid-use disorders. Opioid agonist treatment (OAT), which employs medications such as methadone or Suboxone to manage opioid withdrawal symptoms and aid in recovery, will be universally covered for all British Columbia residents with an active medical services plan (MSP) as of June 6, 2023.
• In June 2023, Indivior Plc revealed that it would pay a total of USD 102.5 million to resolve a legal dispute brought on by several states in the United States that accuse the company of unethically suppressing generic competition for its opioid addiction therapy Suboxone.