December 7, 2024
Buprenorphine Market

Buprenorphine Market Key Trend: Growing Adoption of Buprenorphine for Opioid Addiction

The global buprenorphine market is estimated to be valued at US$ 3,681.9 million in 2022 and is expected to exhibit a CAGR of 14.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Buprenorphine is a partial opioid agonist used to treat opioid addiction and chronic pain. It is commonly used as a maintenance medication for opioid use disorder (OUD) and carries a lower risk of overdose than methadone. As an analgesic, buprenorphine is used to manage moderate to severe pain. It provides advantages over traditional opioid analgesics such as oxycodone in having a lower risk of overdose, abuse, and respiratory depression. The growing incidence of opioid addiction and chronic pain indications are driving the need for safer and effective therapeutic options such as buprenorphine.

Market key trends:

One of the key trends in the buprenorphine market is the growing adoption of buprenorphine-based medications for the treatment of opioid use disorder. Opioid addiction has risen into a public health crisis with increasing overdose deaths in recent years. Buprenorphine-based therapies such as Suboxone film and tablets, Sublocade extended-release injection, and Bunavail buccal film offer safer and effective alternatives to methadone for medication-assisted treatment (MAT) of opioid addiction. Their availability in generic and branded versions along with increasing awareness about opioid abuse is supporting the uptake of buprenorphine medications. This rising demand for buprenorphine to address the opioid crisis will significantly drive the market growth over the forecast period.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate. While developing a new product requires heavy capital investments and regulatory approvals, the market size is large enough to attract new players.

Bargaining power of buyers: The bargaining power of buyers is moderate to high. Buyers can negotiate on price as there are many established manufacturers for buprenorphine. Substitute products also impose pressure on prices.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitute raw materials from different suppliers. However, suppliers may charge higher prices for key active ingredients.

Threat of new substitutes: The threat of substitutes is moderate. Though a few alternative treatments exist, no direct substitute for buprenorphine is available for pain management and opioid dependence disorders.

Competitive rivalry: The buprenorphine market is highly competitive with major global and regional players offering generic and branded drugs.

Key Takeaways

The Global Buprenorphine Market Size is expected to witness high growth, exhibiting CAGR of 14.5% over the forecast period, due to increasing prevalence of chronic pain, cancer pain and opioid dependence disorders. In 2020, the market was valued at US$ 3,681.9 million and is anticipated to reach US$ 11,279.3 million by 2030.

The US dominates the market and is expected to maintain its leading position owing to growing abuse of prescription opioids. On the other hand, China and India are fastest growing markets in Asia Pacific due to availability of generic drugs at lower costs and improving healthcare infrastructure.

Key players operating in the 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. Major players are focused on new product development and regional expansion through acquisitions and collaborations to strengthen their market position.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

Money Singh
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. 

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. 

View all posts by Money Singh →