Thebaine Market Size, Trends, Industry Analysis, Overview, Share And Forecast 2023 To 2030

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Market Overview:

Thebaine is an opiate alkaloid found in plants of the genus Papaver and is an important precursor for the semi-synthesis of many narcotic and medicinal opioids such as hydrocodone and oxycodone. It possesses important pain-relieving properties. With growing demand for opioids for pain management, the demand for thebaine is also increasing significantly.

The global Thebaine Market is estimated to be valued at US$ 1,403.07Mn or Bn in 2023 and is expected to exhibit a CAGR of 1.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. 

Market key trends:

One of the key trends in the global Thebaine market is the rising consumption of opioid-based pain medications globally. According to a report by WHO, around 1.5 billion people suffer from chronic pain worldwide. The inadequate management of pain has emerged as a major public health concern. Moreover, the aging population which is more prone to chronic diseases and pain is further fueling the sales of pain medications. This is positively impacting the demand for thebaine in the global market.

Get more insights on this topic: https://www.coherentmarketinsights.com/market-insight/thebaine-market-1908

Segment Analysis

Thebaine Market is segmented into natural and synthetic. The natural segment currently dominates the market due to increasing demand for herbal products and safety concerns regarding synthetic opioids. The natural segment is further divided into poppy straw concentrates, poppy seed concentrates, and others. Poppy straw concentrates hold the highest market share under the natural segment as they are the major commercial source of natural thebaine.

Key Takeaways

The global Thebaine Market is expected to witness high growth, exhibiting a CAGR of 1.5% over the forecast period, due to increasing demand for opioid pain medications and rising consumption of non-medical opioids. 

The market size for Thebaine is expected to reach US$ 1,403.07Mn by 2023. North America presently dominates the global market due to growing pharmaceutical industry and increasing investments in new drug development in the region. Europe is projected to be the fastest growing market during the forecast period.

Key players operating in the Thebaine Market are API Labs Inc., Alcaliber S.A., Sanofi S.A., Faran Shimi pharmaceutical Co., Mallinckrodt Pharmaceuticals, Noramco Inc., and Tasmania Alkaloids Pvt. Ltd. API Labs Inc. holds the highest market share as it is one of the largest producer and distributor of Thebaine globally. 

The key players are focusing on new product launches, expansions, agreements and joint ventures to gain a competitive advantage in the market. For instance, in 2021 API Labs Inc. expanded its production capacity for Thebaine to meet the increasing demand for opioid medicines across North America and Europe.

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