Global Fentanyl Market Size, Share And Growth Analysis For 2024-2033

The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033

LONDON, GREATER LONDON , UK, August 2, 2024 /EINPresswire.com/ -- The fentanyl market has experienced robust growth in recent years, expanding from $15.14 billion in 2023 to $16.22 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to pain management needs, medical procedures and surgeries, cancer pain management, opioid analgesic market growth, aging population.

Strong Future Growth Anticipated
The fentanyl market is projected to continue its strong growth, reaching $20.79 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to rise in chronic pain cases, expanding oncology therapies, increasing surgical procedures, public health initiatives, regulatory approval for new indications.

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Growth Driver Of The Fentanyl Market
The increasing prevalence of chronic diseases is expected to propel the growth of the fentanyl market going forward. A chronic disease is a medical condition that persists over a long period, typically for three months or more, and often continues throughout a person's life. Fentanyl is used in chronic diseases primarily to manage severe, persistent pain that other medications or interventions do not effectively control.

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Fentanyl Market Major Players And Market Trends
Key players in the fentanyl market include Pfizer Inc., Johnson & Johnson, Sinopharm Group, Merck & Co. Inc., Bayer AG, Novartis AG, Kyowa Kirin Co. Ltd., Fresenius Kabi Oncology Ltd.

Major companies operating in the fentanyl market are developing innovative products such as Opvee and getting approvals to meet larger customer bases, more sales, and increased revenue. Opvee (nalmefene) is a potent opioid receptor blocker used to treat known or suspected opioid overdose induced by natural or synthetic opioids like fentanyl.

Fentanyl Market Segments:
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

Geographical Insights: North America Leading The Market
North America was the largest region in the fentanyl market in 2023. 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

Fentanyl Market Definition
Fentanyl refers to a synthetic opioid that is highly potent and used for pain relief and anesthesia purposes. It is used by doctors to alleviate extreme pain, particularly after surgery and in advanced-stage cancer. It is offered as transdermal patches or lozenges.

Fentanyl Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Fentanyl Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on fentanyl market size, fentanyl market drivers and trends, fentanyl market major players, fentanyl competitors' revenues, fentanyl market positioning, and fentanyl market growth across geographies. The fentanyl market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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