Global Methylphenidate Drug Market 2023 Outlook By Product, Trends and Forecast To 2024-2032

Methylphenidate Drug Market Size And Forecast

Methylphenidate Drug Market size is growing at a faster pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period, growing at a CAGR of 7.17% from 2021 to 2028.

Product launches across the globe, approval of new drugs, and increased research and development activities are likely to drive the market. The rising number of people suffering from a host of mental health disorders, including attention-deficit/hyperactivity disorder, has caught the attention of governments around the world is likely to drive the market. The Global Methylphenidate Drug Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Methylphenidate Drug Market Definition

Methylphenidate is in a class of medications called central nervous system (CNS) stimulants. It works by changing the amounts of certain natural substances in the brain. Methylphenidate belongs to a class of drugs known as stimulants. It can help increase your ability to pay attention, stay focused on an activity, and control behavior problems. It may also help you to organize your tasks and improve your listening skills. Methylphenidate may cause new or worsening psychosis (unusual thoughts or behavior), especially if you have a history of depression, mental illness, or bipolar disorder. Methylphenidate increases extracellular dopamine (DA) levels in the brain by blocking the DA transporters in the synapse.

It may be offered to teenagers and children over the age of 5 with ADHD if at least 6 weeks of treatment with methylphenidate has not helped. Adults may be offered lisdexamfetamine as the first-choice medicine instead of methylphenidate. Biochemically, methylphenidate enhances the release and blocks the reuptake of dopamine (DA) and norepinephrine (NE) in the mammalian brain. Pharmacologically, methylphenidate is most closely related to cocaine. In human subjects, methylphenidate binds to the same receptor sites as cocaine in the brain and produces effects that are indistinguishable from cocaine.

Global Methylphenidate Drug Market Overview

The growing prevalence of ADHD disorder and increasing preference for cheaper and effective generic ADHD drugs are expected to boost the Methylphenidate Drug Market over the coming years. An increase in awareness about mental health among the general population and governments is expected to propel the Methylphenidate Drug market. The rising number of people suffering from a host of mental health disorders, including attention-deficit/hyperactivity disorder, has caught the attention of governments around the world, forcing them to take the necessary steps to address this condition. In 2016, the U.S. Department of Health & Human Services awarded up to USD 54 million to the Substance Abuse and Mental Health Services Administration (SAMHSA) for the next four years to address the needs of individuals with serious mental illnesses.

Similarly, NHS England set up a five-year plan for mental health in 2016. The government committed to implementing this plan by 2020–2021, investing USD 1.27 billion into the project. Therefore, government support, along with growing awareness among various parties, is anticipated to boost the market. Furthermore, an increasing number of market players have been investing in the development of non-stimulant drugs for attention-deficit/hyperactivity disorder, which is driving the segment.

However, factors such as side effects of the drug are expected to restrain the market growth across the globe over the forecast period. Common side effects of methylphenidate include difficulty sleeping, decreased appetite, anxiety, and weight loss. More serious side effects may include psychosis, allergic reactions, prolonged erections, substance abuse, and heart problems.

Global Methylphenidate Drug Market: Segmentation Analysis

The Global Methylphenidate Drug Market is segmented on the basis of Product, Application, and Geography.

Methylphenidate Drug Market, By Product

• Tablet• Capsule

Based on Product, the market is bifurcated into Tablet and Capsule. The tablet segment dominates the major market share. Methylphenidate oral tablet is used to treat attention deficit hyperactivity disorder (ADHD) and narcolepsy. It may help to increase attention and decrease impulsiveness and hyperactivity if you have ADHD.

Methylphenidate Drug Market, By Application

• Children(6-17 years)• Adults

Based on the Application, the market is bifurcated into Children(6-17 years), and adults. The adult segment held the largest share in the market in 2018 and this can be attributed to a large patient population. According to ADD Health and Wellness Centers, Inc., attention-deficit/hyperactivity disorder affects more than 4.0% of the adult population in the U.S.

Methylphenidate Drug Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

On the basis of regional analysis, the Global Methylphenidate Drug Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America dominated the global market and accounted for more than 68.0% of the total market in 2018. This can be attributed to the large volume of drug prescriptions every year, increasing product launches, and the rise in collaboration among players to enhance market penetration and product development.

Key Players

The “Global Methylphenidate Drug Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players are Janssen Pharmaceuticals, NEOS Therapeutics, Rhodes Pharmaceuticals, Noven Therapeutics, Ironshore Pharmaceuticals, Lannett Company, Novartis, Teva, Tris Pharma, Amneal, Impax Laboratories, Mylan, Trigen Laboratories, Sun Pharmaceutical, Oxford Pharm, Novel Laboratories, Breckenridge Pharmaceutical.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

Partnerships, Collaborations and Agreements

• On January 2019, MeiraGTx Holdings plc, a vertically integrated, clinical-stage gene therapy company, announced that it has entered into a broad strategic collaboration with Janssen Pharmaceuticals, Inc., one of the Janssen Pharmaceutical Companies of Johnson & Johnson, to develop and commercialize gene therapies for the treatment of inherited retinal diseases.

• On December 2020, CHO Plus, an early-stage innovation company developing technology to vastly increase the productivity of cells used to manufacture therapeutic proteins, announced that it has entered into a research collaboration agreement with Janssen Biotech, Inc., one of the Pharmaceutical Companies of Johnson & Johnson. This agreement will allow CHO Plus to demonstrate the commercial feasibility of its technology while also developing several custom projects for Janssen.

• On February 2021, Nektar Therapeutics, a clinical-stage biopharmaceutical company, focused on developing and commercializing novel therapies for cancer and auto-immune disease. Announced a financing and co-development collaboration with SFJ Pharmaceuticals to support the development of Bempegaldesleukin, an investigational CD122-preferential IL-2–pathway agonist. SFJ Pharmaceuticals is a global drug development company backed by Abingworth and Blackstone Life Sciences.

Mergers and Acquisitions

• On December 2020, Aytu BioScience, Inc., a specialty pharmaceutical company focused on commercializing novel products that address significant patient needs, entered into a definitive merger agreement with Neos Therapeutics, Inc., a developing commercial-stage pharmaceutical company manufacturing central nervous system-focused products.

Product Launches and Product Expansions

• On October 2019, Bayer AG and RIKEN Innovation Co., Ltd. entered into a strategic collaboration agreement to jointly explore novel drug discovery opportunities across indications. The collaboration aims to identify potential joint research projects combining RIKEN Innovation’s expertise in fundamental academic research with Bayer’s global experience in drug discovery and development.

• On November 2019, Verix, a global leader in advanced data & analytic solutions for Commercial Operations in the Life Sciences industry, announced that Ironshore Pharmaceuticals Inc. had selected its analytical platform to support the commercialization of Ironshore’s prescription medication, launched in the summer of 2019 in the U.S. market. The easy access to such depth and breadth of analysis is essential for a company launching a new medication.

Report Scope

Top Trending Reports:

<p class=”-report-title” style=”display: no