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

Global Fentanyl Market Size Forecasts to 2033

• The Global Fentanyl Market Size was estimated at USD 15.20 Billion in 2023
• The Market Size is Expected to Grow at a CAGR of around 6.61% from 2023 to 2033
• The Worldwide Fentanyl Market Size is expected to reach USD 28.84 Billion by 2033
• Asia Pacific is predicted to Grow at the fastest CAGR throughout the projection period

The Global Fentanyl Market Size is predicted to exceed USD 28.84 Billion by 2033, Growing at a CAGR of 6.61% from 2023 to 2033.

Market Overview

The fentanyl market is categorised under the pharmaceutical sector, which involves the development, production, and commercialisation of fentanyl medications that are used in pain management during surgeries and various ailments. Fentanyl is a strong synthetic opioid that produces stronger analgesia than morphine. It is frequently used in anaesthetic therapy due to its rapid onset and offset of action, and it is 75–100 times stronger than morphine. Fentanyl, an opioid, 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, which leads to anesthesia, and is administered via IV, epidural, and intrathecally. The marketed products of fentanyl are Duragesic, Sublimaze, and Actiq.

The increasing number of surgical procedures escalates the need for fentanyl medications, which results in the market expansion. For instance, the data provided by the Lancet Journal states that surgery is crucial for healthcare systems, with an estimated 3212.5 million procedures needed to address the burden of disease for a global population of 6-9 billion. The need varies across regions and subcategories of disease, with rates ranging from 3383 operations per 100,000 in central Latin America to 6495 operations per 100,000 in western sub-Saharan Africa.

Report Coverage

This research report categorises the global fentanyl market based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global fentanyl market. Recent market developments and competitive strategies such as expansion, product launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global fentanyl market.

Driving Factors:

The aging population is predicted to increase the prevalence of chronic pain diseases, such as rheumatoid arthritis and cancer, which is driving growth in the fentanyl market. Growing awareness of the need for effective opioid analgesics and chronic pain treatment is additionally driving the demand for strong analgesics like fentanyl. Fentanyl's bioavailability and convenience of administration have been enhanced by developments in drug delivery methods, such as transdermal patches, sublingual pills, and nasal sprays, which have increased its use. Since fentanyl is frequently used in surgical operations and to treat severe pain in cancer patients, the market is further driven by the need for efficient pain management solutions, notably in palliative care and anesthesia.

Restraining Factors

The fentanyl market faces challenges such as regulatory scrutiny, the ongoing opioid crisis, stringent regulations, and the availability of alternative medications for pain management and anesthetics.

Market Segmentation

The global fentanyl market share is classified into route of administration and end-user.

• The oral film segment dominated the global fentanyl market in 2023 and is anticipated to grow at a significant CAGR throughout the forecast period.

Based on the route of administration, the global fentanyl market is categorized into buccal tablet, oral film, and sublingual tablet. Among these, the oral film segment dominated the global fentanyl market in 2023 and is anticipated to grow at a significant CAGR throughout the forecast period. The segment's growth is attributed to the patient compliance, rapid onset of action, faster dissolution rate, increased efficacy of the API, ease of administration, and greater stability.

• The oncology centers segment accounted for the largest market 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 categorised into oncology centers, surgical centers, and hospitals Among these, the oncology centers segment accounted for the largest market in 2023 and is expected to grow at a significant CAGR throughout the projected timeframe. Rising cancer cases, palliative care requirements, patient-centric care, new medication administration methods including oral films and transdermal patches, and rising healthcare costs all have an impact on the fentanyl market expansion.

Regional Segment Analysis of the Global Fentanyl Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the global fentanyl market over the predicted timeframe.

North America is anticipated to hold the largest share of the global fentanyl market over the predicted timeframe. This is driven by both illegal and medical usage, the North American fentanyl market accounts for a sizeable portion of the global opioid market. It is used in medicine to treat excruciating pain, especially in cancer patients and in the recovery after surgery. The need for fentanyl-based drugs is rising as chronic pain and surgical procedures become more common. Government efforts to prevent misuse include more stringent laws, public education programs, and expenditures on cutting-edge detection systems.

Asia Pacific is anticipated to grow at the fastest CAGR throughout the projected timeframe. Growing healthcare infrastructure, rising rates of chronic pain, new drug delivery methods like oral films and transdermal patches, an aging population in nations like China and Japan, and government programs supporting fentanyl-based products and healthcare are all contributing factors to the growth of the Asia-Pacific fentanyl market. Fentanyl use in the area is increasing as a result of these circumstances, which are also driving demand for efficient pain treatment solutions.

Europe is predicted to hold a significant share of the global fentanyl market throughout the estimated period. The aging population, established healthcare infrastructure, medicinal applications, cutting-edge drug delivery methods, and a focus on pain management are the main factors propelling the fentanyl market in Europe. Fentanyl is used extensively in palliative care, post-operative rehabilitation, and cancer treatment; its effectiveness is increased by developments in oral films and transdermal patches. Growing patient and healthcare provider awareness of efficient pain management techniques fuels market expansion.

Competitive Analysis:

The report offers the appropriate analysis of the key organisations/companies involved within the global fentanyl market, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborate analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• 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.
• 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 following segments:

Global Fentanyl Market, By Route of Administration

• Buccal Tablet
• Oral Film
• Sublingual Tablet

Global Fentanyl Market, By End-User

• Oncology Centres
• Surgical Centres
• 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