Key Trends Reshaping the Fentanyl Market: Increasing Focus On Product Approvals To Gain The Revenues Industry Transformation

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Fentanyl Market Size Growth Forecast: What to Expect by 2025?
Over the past few years, the fentanyl market has experienced robust growth. It is projected to increase from $16.22 billion in 2024 to $17.15 billion in 2025, with a compound annual growth rate (CAGR) of 5.7%. The historic growth is largely credited to the demand for pain management, medical operations and procedures, management of cancer-related pain, the growth of the opioid analgesic market, as well as an aging population.

How Will the Fentanyl Market Size Evolve and Grow by 2029?
The fentanyl market is projected to experience robust growth in the foroming years, with a forecast size of "$22.03 billion by 2029," reflecting a compound annual growth rate (CAGR) of 6.5%. This anticipated growth during the forecast period can be ascribed to an increase in cases of chronic pain, the expansion of oncology treatments, a surge in surgical procedures, public health efforts, and regulatory assent for new indications. Upcoming trends during the forecast period comprise advancements in drug formulation technology, innovations in detection technology, strategies for public health and harm reduction, growth in pharmaceutical applications, and international cooperation and data exchange.

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What Drivers Are Propelling the Growth of Fentanyl Market Forward?
The continued rise in chronic diseases is predicted to catalyze the expansion of the fentanyl market. Chronic diseases are medical conditions that usually endure for three months or more, often remaining throughout an individual's lifetime. Fentanyl is primarily utilized in the management of severe, continuous pain that other treatments or interventions fail to effectively alleviate in chronic diseases. For example, the Heart Disease Facts published by the US public health agency, the Centers for Disease Control and Prevention (CDC), stated in October 2024 that coronary heart disease (CHD) led to 371,506 fatalities in 2022, part of the total 702,880 heart disease deaths, which accounted for approximately 1 in every 5 deaths. Consequently, this surge in chronic diseases is propelling the fentanyl market's growth.

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What Are the Key Trends Driving Fentanyl Market Growth?
Key players in the fentanyl industry, such as Indivior PLC, are focusing on creating innovative products like Opvee in an effort to reach a broader consumer base, increase sales, and boost revenue. Opvee (nalmefene), a powerful opioid receptor antagonist, is used in the treatment of confirmed or suspected opioid overdoses involving natural or synthetic opioids including fentanyl. In May 2023, Indivior, a pharmaceutical firm based in the US, obtained approval from the U.S. Food and Drug Administration for their Opvee nasal spray. The drug works by counteracting the effect of opioids on the brain, potentially assisting patients who have suffered recent overdoses in returning their respiration and blood pressure to normal levels. Because Opvee is available as a nasal spray, it's simple to use during emergency situations. Its inclusion in the roster of drugs used to handle opioid overdoses makes it crucial in preserving lives.

What Are the Key Segments in the Fentanyl Market?
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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Who Are the Key Players Shaping the Fentanyl Market's Competitive 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.

What Geographic Markets Are Powering 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

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