Introduction to Meperidine (Demerol)
Meperidine, commonly known by its brand name Demerol, is a synthetic opioid analgesic used to treat moderate to severe pain. It is particularly effective in post-operative pain management and is often used in various surgical procedures.
Global Market Size and Forecast
The global meperidine (Demerol) market is valued at US$ 493.4 million in 2023 and is projected to grow at a Compound Annual Growth Rate (CAGR) of 1.5% from 2023 to 2030, reaching an estimated value of US$ 549.4 million by 2030[1].
Key Drivers of Market Growth
Several factors are driving the growth of the meperidine market:
Increasing Number of Surgical Procedures
The rising number of surgeries, including caesarean sections and knee replacement therapies, is a significant driver. For instance, caesarean section procedures account for more than one in five (21%) of all childbirths globally, and meperidine is commonly used as a painkiller in these procedures[1].
Growing Geriatric Population
The increasing geriatric population is fueling the need for surgical procedures related to chronic diseases, such as knee replacements. In the U.S., almost 8,000,000 knee replacements are performed annually, with 90% lasting for 10 years, which may require resurgery and subsequent use of meperidine[1].
Hysterectomy Procedures
The prevalence of hysterectomy procedures, particularly in the U.S., also contributes to the demand for meperidine. According to the CDC, there is an increasing trend in hysterectomy prevalence by age and directional differences by race and ethnicity[1].
Market Segmentation
The global meperidine market is segmented by form, application, and geography.
Form
The market share by form includes various formulations such as tablets, injections, and oral solutions. Each form has its specific use cases and patient preferences, contributing to the overall market dynamics[1].
Application
Meperidine is used in various medical applications, including post-operative pain management, cancer pain, and chronic pain management. The increasing prevalence of diseases like cancer further boosts the demand for meperidine[1].
Geography
North America is expected to hold the dominant position in the global meperidine market due to the high number of surgical procedures, including hysterectomies and knee replacements, in the region[1].
Impact of COVID-19 Pandemic
The COVID-19 pandemic had a mixed impact on the meperidine market. While there was an initial disruption in supply chains and healthcare services, the ongoing need for pain management in various medical procedures ensured a relatively stable demand for meperidine[1].
Key Players and Market Strategies
Major players in the meperidine market include Pfizer, Inc., Hikma Pharmaceuticals USA Inc., Epic Pharma, Inc., Vintage Pharmaceuticals, Inc., Sanofi, Janssen Pharmaceuticals, Boehringer Ingelheim, Sun Pharmaceutical, Egalet Corporation, and Mallinckrodt Pharmaceuticals.
Geographical Expansion
Companies are focusing on geographical expansion to increase their market share. For example, Pfizer Inc. announced a US$ 750 million investment to expand its facility in Michigan, U.S., aiming to establish it as one of the most technologically advanced facilities globally[1].
Innovation and Awareness
Reducing the side effects associated with meperidine and increasing awareness about these developments are crucial strategies. Companies are working on improving formulations and educating healthcare providers and patients about the benefits and risks of meperidine[1].
Financial Performance and Projections
The financial performance of the meperidine market is closely tied to the overall healthcare and pharmaceutical industry trends.
Revenue Projections
The market is expected to grow from US$ 493.4 million in 2023 to US$ 549.4 million by 2030, with a CAGR of 1.5% during the forecast period[1].
Operating Expenses and Profitability
Companies operating in this market need to manage their operating expenses, including research and development, cost of goods sold, and selling, general, and administrative expenses. Efficient management of these costs can lead to better profitability, as seen in the case of companies like Pfizer, which is investing heavily in technological advancements and facility expansions[1].
Challenges and Restraints
Despite the growth drivers, the meperidine market faces several challenges:
Side Effects and Regulatory Scrutiny
Meperidine is associated with side effects such as nausea, vomiting, and respiratory depression, which can limit its use. Regulatory scrutiny and the need for safer alternatives also pose challenges to market growth[1].
Competition from Alternative Pain Management Options
The rise of alternative pain management options, including transdermal drug delivery systems and other opioid alternatives, can compete with meperidine for market share. For instance, transdermal drug delivery systems are gaining popularity due to their ease of use and reduced side effects[3].
Key Takeaways
- The global meperidine market is valued at US$ 493.4 million in 2023 and is expected to grow at a CAGR of 1.5% until 2030.
- Increasing surgical procedures, a growing geriatric population, and the prevalence of diseases like cancer are key drivers of market growth.
- North America dominates the market due to high surgical procedure rates.
- Major players are focusing on geographical expansion and innovation to reduce side effects.
- The market faces challenges from side effects, regulatory scrutiny, and competition from alternative pain management options.
FAQs
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What is the current market size of the global meperidine (Demerol) market?
- The global meperidine (Demerol) market is estimated to be valued at US$ 493.4 million in 2023[1].
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What is the projected CAGR for the global meperidine (Demerol) market from 2023 to 2030?
- The market is expected to exhibit a CAGR of 1.5% during the forecast period from 2023 to 2030[1].
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Which region is expected to dominate the global meperidine (Demerol) market?
- North America is estimated to hold the dominant position in the global meperidine (Demerol) market over the forecast period[1].
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What are the key drivers of the global meperidine (Demerol) market growth?
- The rising number of injuries and surgeries, increasing prevalence of diseases like cancer, and the growing geriatric population are key drivers of market growth[1].
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Who are the major players operating in the global meperidine (Demerol) market?
- Major players include Pfizer, Inc., Hikma Pharmaceuticals USA Inc., Epic Pharma, Inc., Vintage Pharmaceuticals, Inc., Sanofi, Janssen Pharmaceuticals, Boehringer Ingelheim, Sun Pharmaceutical, Egalet Corporation, and Mallinckrodt Pharmaceuticals[1].
Cited Sources:
- Coherent Market Insights: Meperidine (Demerol) Market Size, Trends and Forecast to 2030.
- Biospace: Journey Medical Corporation Reports Third Quarter 2024 Financial Results and Recent Corporate Highlights.
- Maximize Market Research: Transdermal Drug Delivery Systems Market- Industry Analysis 2029.
- GlobeNewswire: Neuroendocrine Tumors Market to Showcase Rapid Growth During the Study Period (2020–2034).
- 4D Molecular Therapeutics: 4DMT Reports First Quarter 2024 Financial Results and Operational Highlights.
