Global Fentanyl Market Size To Worth USD 28.84 Billion By 2033 | CAGR of 6.61%
Category: HealthcareGlobal Fentanyl Market Size To Worth USD 28.84 Billion by 2033
According to a research report published by Spherical Insights & Consulting, the Global Fentanyl Market Size is expected to grow from USD 15.20 Billion in 2023 to USD 28.84 Billion by 2033, at a CAGR of 6.61% during the forecast period 2023-2033.
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Browse key industry insights spread across 250 pages with 120 Market data tables and figures & charts from the report on The "Global Fentanyl Market Size, Share, and COVID-19 Impact Analysis, By Route of Administration (Buccal Tablet, Oral Film, and Sublingual Tablet), By End-User (Oncology Centers, Surgical Centers, and Hospitals), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/fentanyl-market
The fentanyl market is a pharmaceutical sector that develops, produces, and commercializes fentanyl medications for pain management during surgeries and other ailments. Fentanyl is a strong synthetic opioid that produces stronger analgesia than morphine and is 75-100 times stronger than morphine. It stimulates mu-opioid receptors in the central nervous system, altering the body's pain response and neurotransmitter release. It can cause profound CNS and respiratory depression, leading to anesthesia. Fentanyl is marketed as Duragesic, Sublimaze, and Actiq. The increasing number of surgical procedures is driving the demand for fentanyl medications, with the need varying across regions and subcategories of disease. The aging population and growing awareness of the need for effective opioid analgesics are driving growth in the fentanyl industry. Developments in drug delivery methods, such as transdermal patches, sublingual pills, and nasal sprays, have improved fentanyl's bioavailability and convenience. However, stringent regulations may impede the market growth.
The oral film segment held the largest share in 2023 and is predicted to grow at a significant CAGR during the predicted period.
Based on the route of administration, the global fentanyl market is categorized as buccal tablet, oral film, and sublingual tablet. Among these, the oral film segment held the largest share in 2023 and is predicted to grow at a significant CAGR during the predicted period. The growth of the oral film segment is attributed to factors such as patient compliance, rapid action onset, faster dissolution rate, increased API efficacy, ease of administration, and greater stability.
The oncology centers segment accounted for the highest market share in 2023 and is expected to grow at a significant CAGR throughout the projected timeframe.
Based on the end-user, the global fentanyl market is categorized as oncology centers, surgical centers, and hospitals. Among these, the oncology centers segment accounted for the highest market share in 2023 and is expected to grow at a significant CAGR throughout the projected timeframe. This is driven by rising cancer cases, palliative care needs, patient-centric care, new medication administration methods, and rising healthcare costs.
North America is expected to hold the greatest share of the global fentanyl market over the forecast period.
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North America is expected to hold the greatest share of the global fentanyl market over the forecast period. The North American fentanyl market, primarily driven by illegal and medical usage, is a significant portion of the global opioid market. It is used in medicine to treat pain, particularly in cancer patients and post-surgery recovery.
Asia Pacific is predicted to grow at the fastest throughout the estimated period. The Asia-Pacific fentanyl market is growing due to factors such as growing healthcare infrastructure, chronic pain, new drug delivery methods, aging populations, and government programs supporting fentanyl-based products and healthcare, driving increased fentanyl use and demand for effective pain treatment solutions.
Europe is anticipated to hold a substantial share of the global fentanyl market throughout the predicted period. The fentanyl market in Europe is driven by factors such as the aging population, healthcare infrastructure, medicinal applications, advanced drug delivery methods, and pain management, with the market expanding due to increased patient and healthcare provider awareness.
Major key players in the global fentanyl market are Teva Pharmaceutical Industries Limited, Bayer AG, Sanofi S.A., Cephalon LLC, AstraZeneca plc, Bryant Ranch Prepack Inc., Dispensing Solution Inc., Viatris Inc., Baxter International Inc., Paladin Labs Inc., Kyowa Kirin Co. Ltd., Galena Biopharma Inc., and others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at the global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global fentanyl market based on the below-mentioned segments:
Global Fentanyl Market, By Route of Administration
- Buccal Tablet
- Oral Film
- Sublingual Tablet
Global Fentanyl Market, By End-User
- Oncology Centers
- Surgical Centers
- Hospitals
Global Fentanyl Market, By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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