The United States of America Suboxone Market comprises medication primarily used for treating opioid addiction and dependence. Suboxone contains buprenorphine and naloxone and works by binding to opiate receptors in the brain, reducing cravings and withdrawal symptoms without producing the euphoric effects experienced with opioids. The growing rate of opioid addiction, increasing awareness about medication-assisted treatment for opioid use disorder, and favorable government policies are propelling the demand for Suboxone in the nation.
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 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. The market is dominated by Indivior PLC due to its brand Suboxone film.
The demand for Suboxone is growing rapidly owing to the continuously rising drug overdose deaths and increasing prevalence of opioid use disorder in the country. According to the National Institute on Drug Abuse, over 14 million people aged 12 and older misused opioids in 2019.
Suboxone manufacturers are expanding their business globally by acquiring other companies and developing new formulations to capitalize on the lucrative opportunities available worldwide. For instance, in 2021, Indivior acquired Opiant Pharmaceuticals expanding its portfolio of opioid overdose and addiction treatments.
Market Key Trends
Sublingual film formulations gaining prominence over tablets due to convenience of administration. The sublingual films have high bioavailability and gets absorbed quickly under the tongue without water. This trend has benefited major players like Indivior who owns the brand Suboxone films. Other companies are also launching generic versions of sublingual films to gain market share.
Porter’s Analysis
Threat of new entrants: New companies will face high costs of manufacturing, distribution, marketing and getting physician prescription for suboxone. Also established players have strong brand recognition.
Bargaining power of buyers: Buyers have moderate bargaining power as there are few substitutes available and switching costs are high.
Bargaining power of suppliers: Suppliers have low bargaining power as raw materials for suboxone are commonly available.
Threat of new substitutes: Substitutes like methadone and naltrexone pose low threat as suboxone is more effective with lesser side effects.
Competitive rivalry: Industry players compete on the basis of pricing, marketing strategies and gaining more physicians to prescribe suboxone.
In terms of value, the North America region will continue to dominate the United States of America Suboxone market. Factors like high awareness, easy availability and physician prescription are driving the market growth in this region.
The fastest growing region for United States of America Suboxone market will be Asia Pacific due to increasing awareness, growing opioid addiction and advancement in healthcare facilities. Countries like China and India are expected to significantly contribute to the market value owing to their large population and improving economic conditions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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
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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