Buprenorphine plays a major role in advanced healthcare as it is used in acute pain management, chronic pain management and in treatment of opioid addiction. It is synthetic phenanthrene with narcotic analgesic activity.
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).
The increasing prevalence of chronic pain is expected to propel growth of the global buprenorphine market
Buprenorphine is an opioid which is used in treatment of acute pain management and chronic pain management in patients undergoing treatment of cancer, multiple sclerosis or other life threatening diseases. Moreover, high prevalence of cancer is expected to propel demand for cancer therapies which is expected to drive the market growth. According to Cancer Research UK, factsheet around 17 million people were diagnosed with cancer in 2018.
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Moreover, the increasing incidence of multiple sclerosis is expected to propel growth of the global buprenorphine market during the forecast period. According to the Multiple Sclerosis Trust, 2018, an estimated 2,500,000 cases of multiple sclerosis are diagnosed globally.
However, side effects such as opioid withdrawal symptoms such as diarrhea and risk of fatal overdose from respiratory failure and drug dependency are expected to hamper the market growth. Also, buprenorphine is available in sublingual/buccal tablets and film formulations which is less convenient than oral route of administration, and supervised treatment can be part of patients care, e.g. for patients who receive treatment in methadone clinics, which is particularly common in Europe region, thus limiting patients' access and hindering the market growth.
Increasing opioid abuse in North America is expected to boost the market growth.
North America holds dominant position in the global buprenorphine market owing to high prevalence of opioid and heroin abuse. According to the Substance Abuse and Mental Health Services Administration (SAMSHA) under the U.S. Department of Health and Human Services, an estimated 11.4 million people misused opioids prescription in 2016. Moreover, an estimated 13,219 heroin deaths occurred in 2016 was increased to 15,594 in 2017.
Moreover, an increase in the geriatric population is expected to propel demand for osteoarthritis cases, which is expected to drive the market growth during the forecast period. According to the Rheumatoid Arthritis. Org Facts, in October 2018, around 1.3 million Americans and around 1% of the world population is affected by rheumatoid arthritis, which is a third major form of osteoarthritis and gout.
Global Buprenorphine Market – Impact of Coronavirus (COVID-19) Pandemic
The coronavirus (COVID-19) pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses in all sectors. The private healthcare is one such sector which has been impacted significantly by the COVID-19 pandemic.
The lockdown in various countries due to the pandemic has placed an economic burden on the healthcare sector.
Moreover, the coronavirus pandemic has hampered the development, production, and supply of drugs and other healthcare products and affected growth of healthcare businesses of various companies across the globe.
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Key Players
Major players operating in the global buprenorphine market are Siegfried, Sanofi, Johnson Matthey, Mallinckrodt, Noramco, Unichem Laboratories, Arevipharma GmbH, Resonance-labs, Sun Pharmaceutical Industries Ltd., Rusan Pharma, Micro Orgo Chem, and Faran Shimi Pharmaceutical Co.
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