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Global Fentanyl Market to Reach $22.31 Billion by 2029, Growing at 6.5% CAGR
Fentanyl Market Size
The rising occurrence of chronic illnesses is set to spur the growth of the fentanyl market. Chronic diseases, which are conditions that persist for an extended period, typically three months or more, and often persist through someone's lifetime, often require treatments like fentanyl to handle the severe, persistent pain, which other medications or treatments fail to mitigate effectively. As an example, Heart Disease Facts, published by the US-based public health agency, Centers for Disease Control and Prevention (CDC), confirmed in October 2024 that in the United States, coronary heart disease (CHD) caused 371,506 deaths in 2022, which resulted in the total number of heart disease deaths, which nearly equated to 1 in every 5 deaths. Thus, the fentanyl market is seeing growth due to the rising occurrence of chronic diseases. Driving Force of Fentanyl Market: Growing Need for Pain Management Fuels Fentanyl Market Expansion
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How will the growth rate of the fentanyl market shape industry trends by 2034?
The fentanyl market has experienced robust growth in the last few years. The market, projected to escalate from $16.22 billion in 2024 to $17.31 billion in 2025, will have a compound annual growth rate (CAGR) of 6.7%. This significant increase in the historic period is as a result of various factors such as the need for pain management, medical operations and procedures, supervision of cancer pain, the development of the opioid analgesic market, and an aging population.
There is predicted to be a robust increase in the size of the fentanyl market in the coming years. It is projected to escalate to $22.31 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 6.5%. Factors contributing to this surge during the projected period include a hike in chronic pain incidences, the expansion of cancer treatments, rise in surgical operations, public health programs, and the approval of regulations for novel indications. Key trends for the projected period cover advancements in drug concoctions technology, innovative methods in the detection sector, strategies for public health and harm reduction, a surge in pharmaceutical applications, and international cooperation along with information exchange.
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How are the latest trends influencing the growth of the fentanyl market?
Leading businesses in the fentanyl market, such as Indivior PLC, are inventing new products like Opvee for expanding their customer reach, elevating sales, and boosting revenue. Opvee (nalmefene), an effective opioid receptor antagonist, is utilized in treating known or suspected opioid overdoses caused by either naturally derived or synthetic opioids like fentanyl. For example, in May 2023, Indivior PLC, a pharmaceutical corporation based in the US, achieved U.S. Food and Drug Administration approval for their Opvee nasal spray. The spray works by inhibiting the impact of opioids on the brain, aiding recently overdosed patients to regain normal respiration and blood pressure. Administered via nasal spray, Opvee is straightforward to use in emergency situations and plays a crucial role in the array of treatments utilized to prevent opioid overdoses and preserve lives.
Which primary segments of the fentanyl market are driving growth and industry transformations?
The fentanyl market covered in this report is segmented -
1) By Type: Fentanyl Injections, Fentanyl TTS (Transdermal Therapeutic System)
2) By Application: Inducting Anesthesia, Maintain Anesthesia, General Analgesic, Postoperative Analgesia, Breakthrough Cancer Pain
3) By End User: Hospitals, Clinics, Ambulatory Surgical Centers, Other End Users
Subsegments:
1) By Fentanyl Injections: Injectable Solutions, Premixed Injection Formulations
2) By Fentanyl TTS (Transdermal Therapeutic System): Patch Formulations, Matrix Patch Systems
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Which geographical regions are pioneering growth in the fentanyl market?
North America was the largest region in the fentanyl market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fentanyl market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the influential players reshaping the fentanyl market landscape?
Major companies operating in the fentanyl market report are Pfizer Inc., Johnson & Johnson, Sinopharm Group, Merck & Co. Inc., Bayer AG, Novartis AG, Kyowa Kirin Co. Ltd., Fresenius Kabi Oncology Ltd., Abbott Laboratories, Sanofi S.A, Boehringer Ingelheim GmbH, Viatris Inc., Baxter International Inc., Teva Pharmaceutical Industries Limited, Jiangsu Nhwa Pharmaceutical Co. Ltd., Cephalon LLC, AstraZeneca PLC, Apotex Inc., Hisamitsu Pharmaceutical Co. Inc., Alvogen, Luye Pharma Group, Henan Lingrui Pharmaceutical Ltd., Insys Therapeutics Inc., Exela Pharma Sciences LLC, Paladin Labs Inc., Bryant Ranch Prepack Inc., Galena Biopharma Inc., Validus Pharmaceuticals LLC, Quality Care Products LLC, Dispensing Solutions Inc.
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What Is Covered In The Fentanyl Global Market Report?
• Market Size Forecast: Examine the fentanyl market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the fentanyl market for a structured understanding.
• Key Players Overview: Analyze major players in the fentanyl market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the fentanyl market.
• Segment Contributions: Evaluate how different segments drive overall growth in the fentanyl market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the fentanyl market.
• Industry Challenges: Identify potential risks and obstacles affecting the fentanyl market.
• Competitive Landscape: Review strategic developments in the fentanyl market, including expansions, agreements, and new product launches.
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