Global Buprenorphine Market to Surpass US$ 10,898.8 Million by 2027, Says Coherent Market Insights (CMI)

SEATTLE--(BUSINESS WIRE)--According to Coherent Market Insights, the global buprenorphine market is estimated to be valued at US$ 3,681.9 million in 2020 and is expected to exhibit a CAGR of 14.5% during the forecast period (2020-2027).

Key Trends and Analysis:

Key trends in the buprenorphine market are the increasing prevalence of osteoarthritis, rheumatoid arthritis, opioid abuse, and the rising demand for chronic and acute pain management, and incidence of chronic pain associated with cancer therapy and multiple sclerosis.

Market players are actively launching generic versions of buprenorphine for cost effective and quality treatment. Moreover, the players are committed to offer new and improved products to address the critical unmet needs of patients. For instance, in February 2019, Mylan N.V. announced the launch of Buprenorphine and Naloxone sublingual film, a generic version of Indivior’s Suboxone sublingual film used for treatment of opioid dependence.

Moreover, government initiatives and funding against opioid crisis is expected to facilitate the market growth. For instance, in 2016, U.S. government passed the Comprehensive Addiction and Recovery Act (CARA), authorized US$ 181 million to combat opioid crisis in areas of prevention, treatment, recovery, law enforcement, and criminal justice reform and overdose reversal in all 50 states through grants decided by authorities.

However, opioid withdrawal symptoms such as diarrhea and drug dependency are expected to hinder the market growth. According to the National Institute of Health’s revised article of January 2019, an estimated 1.7 million people in the U.S. suffered from substance use disorder associated with prescription opioids pain relievers in 2017.

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Key Market Takeaways:

The global buprenorphine market is expected to exhibit a CAGR of 14.5% during the forecast period owing to the increasing incidence of trauma injuries, osteoporosis and osteoarthritis-related pain, and increasing opioid abuse. According to the International Osteoporosis Foundation (IOF) fact sheet, an estimated 8.9 million fractures are caused annually due to osteoporosis worldwide and it affects around 200 million women worldwide.

Key players in the market are focused on collaborations and acquisitions to enhance their product portfolio which is expected to propel the market growth during the forecast period. For instance, in March 2018, Noramco, Inc., collaborated with AMPAC Fine Chemicals (AFC), for the production of certain U.S. Drug Enforcement Administration (DEA) controlled substances indicated in treatment of addiction, abuse prevention and others. Noramco will utilize AFC as the contract manufacturer to supplement existing Noramco capacity.

Competitive Landscape:

Key players operating in the global buprenorphine market are Siegfried, Sanofi, Johnson Matthey, Mallinckrodt, Noramco, Inc., Unichem Laboratories, Arevipharma GmbH, Resonance-labs, Sun Pharmaceutical Industries Ltd., Rusan Pharma, Micro Orgo Chem, and Faran Shimi Pharmaceutical Co.

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Market Segmentation:

• Global Buprenorphine Market, By Application:
  • Analgesic
  • Opioid Antagonist
• Global Buprenorphine Market, By Route of Administration:
  • Injectables
  • Sublingual
  • Transdermal Patches
• Global Buprenorphine Market, By Distribution Channel:
  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies
• Global Buprenorphine Market, By Region:
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • Central Africa
    • North Africa

Related Market Intelligence Report:

North America Synthetic Opioids Market, By Product Type (Synthetic Opioids (Methadone, Fentanyl, Meperidine), Semi Synthetic Opioids (Hydrocodone, Oxymorphone, Oxycodone, Hydromorphone, Buprenorphine)), By Application (Pain Management, De-Addiction), By Distribution Channel (Retail Outlets, Hospitals), and By Region (U.S., Canada) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027.

Read more: https://www.coherentmarketinsights.com/market-insight/north-america-synthetic-opioids-market-3660

About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.