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What Factors Are Driving the Anticipated Growth Rate of the Fentanyl Market Through 2034?

The market size of fentanyl has seen substantial growth in the past few years. It is projected to expand from $16.22 billion in 2024 to $17.31 billion in 2025, growing at a compound annual growth rate (CAGR) of 6.7%. The past growth can be credited to aspects such as the need for pain management, medical procedures, surgeries, cancer pain control, the growth of the opioid analgesic market, and an aging population.

The market size for fentanyl is projected to experience significant growth in the coming years. With a compound annual growth rate (CAGR) of 6.5%, it’s expected to reach a value of $22.31 billion in 2029. The strong growth in the forecast period is primarily driven by an increase in cases of chronic pain, growing oncology therapies, rise in surgical procedures, advances in public health initiatives, and regulatory clearance for new indications. Key trends during the forecast period encompass progress in drug formulation technologies, breakthroughs in detection technologies, enhanced public health and harm reduction strategies, growth in pharmaceutical applications, as well as intensified international cooperation and information exchange.

Which Drivers Are Expected to Have the Greatest Impact on the fentanyl Market’s Growth?

The growth of the fentanyl market is likely to be driven by the rising prevalence of chronic diseases. Chronic diseases, a type of medical condition that lasts for a prolonged period, usually over three months and sometimes spanning a person’s lifetime, utilize fentanyl mainly to manage severe, constant pain that is not effectively diminshed by other treatments or interventions. For instance, the Heart Disease Facts, published by the US-based public health agency, Centers for Disease Control and Prevention (CDC), stated that in October 2024, coronary heart disease (CHD) led to 371,506 deaths in 2022 in the United States. This stat accounted for about one-fifth of the total 702,880 heart disease deaths. Thus, the rise in chronic diseases is contributing to an increased demand for fentanyl in the market.

Fentanyl Market Driver: Ascending Fentanyl Market Growth Led by Increased Need for Pain Management

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Who Are the Major Industry Leaders Accelerating Growth in the Fentanyl Market?

Major companies operating in the fentanyl market report are:

• Pfizer Inc._x000D_

• Johnson & Johnson_x000D_

• Sinopharm Group_x000D_

• Merck & Co. Inc._x000D_

• Bayer AG_x000D_

Which Current Trends Are Having the Most Impact on the Fentanyl Market?

Leading corporations in the fentanyl market are innovating and creating products like Opvee, gaining necessary approvals with the objectives of expanding their customer reach, enhancing sales and boosting revenues. Opvee (nalmefene), a powerful opioid receptor antagonist, is utilized in the treatment of confirmed or suspected overdose cases caused by natural or synthetic opioids, including fentanyl. For example, in May 2023, the American pharmaceutical firm, Indivior PLC, achieved U.S. Food and Drug Administration approval for their Opvee nasal spray. This spray works by blocking the impact of opioids on the brain, thereby assisting patients who have recently overdosed to restore their respiration and blood pressure to normal. Opvee is dispensed through a nasal spray, making it convenient to use during emergencies. It holds a crucial spot in the arsenal of medicines used to fight opioid overdoses and preserve lives.

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What Major Market Segments Define the Scope and Growth of 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

Which Regions Are Key Players in the Growth of 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

What Key Elements Shape the Definition of the Fentanyl Market?

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.

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