Codeine Market Upcoming Trends, Demand and Analysis Till 2026

08/mar/2019 10:26:41 Coherent Market Insights Contatta l'autore

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Codeine is a drug of class known as opioids, widely used in the treatment and management of mild to moderate pain, severe pain, dry irritating cough, diarrhea, and cold and flu (when combined with antihistamines and decongestants). Opioids interact with opioid receptors in the brain and induce effects such as pain relief, relaxation, pleasure, and contentment. Codeine is usually swallowed and comes in different forms, including tablets, capsules, and solutions/syrups. Click To Read More On Codeine Market.

Market Drivers

Codeine is widely used in the treatment and management of pain and cough. High prevalence of pain due to increasing ageing population in key regions such as North America, and Asia- Pacific is expected to significantly increase demand for codeine formulation and drive global codeine market growth over the forecast period.

For instance, according to the data published by National Health Interview Survey (NHIS) in 2016, it was estimated that around 20.4% (50.0 million) of the adults in the U.S. are suffering from chronic pain and around 8.0% of adults in the U.S. (19.6 million) had high impact chronic pain.

According to a study published by the National Centre for Biotechnology Information (NCBI) in 2015, around 19.6% of the individuals aged between 20 to 60 years were suffering from low back pain worldwide.

Codeine Market Regional Analysis

North America codeine market is expected to hold a dominant position in the global codeine market and to account for largest market share over the forecast period, owing to high presence of key players in the region and approval and launch of novel products by them in the region.

For instance, in 2015, Tris Pharma, Inc. received U.S. Food and Drug Administration approval and launched its Tuzistra XR (codeine polistirex and chlorpheniramine polistirex), extended-release oral suspension, CIII (DEA Schedule III) in the U.S. market. Tuzistra XR is indicated for the treatment and relief of cough and symptoms associated with upper respiratory allergies or a common cold in adults aged 18 years and older.

Codeine Market Restraint

Stringent regulations in key regions for codeine formulation is expected to be a major factor restraining growth of the codeine market in the near future. For instance, in February 2018, The Therapeutic Goods Administration reclassified codeine as prescription only medicine in Australia, which was previously available as over-the-counter medication. The fact behind this reclassification was that regular use of medicines containing codeine may lead to its addiction.

Similarly, Health Canada also proposed to ban non-prescription codeine sales in 2017. Reclassification of codeine to prescription drugs is expected to hinder its sales and adoption and is expected to restrain the global codeine market growth over the forecast period.

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Codeine Market Key Players

Key players operating in global codeine market include: Nexgen Pharma, Inc., Teva Pharmaceutical Industries Ltd., Wraser Pharmaceuticals LLC, Larken Laboratories, Inc., Aurobindo Pharma Limited, Sun Pharmaceutical Industries Limited, Tris Pharma Inc., and Johnson & Johnson.

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