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What is the Expected Growth Rate of the Fentanyl Market from 2024 to 2033?

The fentanyl market has experienced strong growth in recent years. It is projected to grow from $15.14 billion in 2023 to $16.22 billion in 2024, at a CAGR of 7.2%. Growth is driven by pain management needs, medical procedures and surgeries, cancer pain management, and the aging population.

The fentanyl market is expected to grow to $20.79 billion by 2028, at a CAGR of 6.4%. This growth is driven by increasing chronic pain cases, oncology therapies, surgical procedures, public health initiatives, and new drug approvals. Major trends include drug formulation advancements, detection innovations, public health strategies, and pharmaceutical growth.

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What Key Factors Are Fueling the Growth of the Fentanyl Market?

The rising prevalence of chronic diseases is expected to drive the fentanyl market. Fentanyl is primarily used to manage severe pain in chronic disease patients. In September 2022, the World Health Organization reported that non-communicable diseases (NCDs) were responsible for 74% of global deaths, with 41 million fatalities annually. Additionally, in August 2023, the British Heart Foundation reported an increase in deaths from coronary heart disease in the UK, from 64,170 in 2020 to 65,579 in 2021. Thus, the growing burden of chronic diseases is propelling the fentanyl market’s growth.

What Are the Major Segments of the Fentanyl Market?

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

What New Trends Are Transforming the Fentanyl Market?

In the fentanyl market, companies are developing products like Opvee to cater to larger customer bases and improve sales. Opvee, a nasal spray, received FDA approval in May 2023 by Indivior PLC to treat opioid overdoses, including those caused by fentanyl. The spray works by preventing the effects of opioids on the brain, aiding in restoring respiration and blood pressure during emergencies.

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Which Regions Are Driving Growth in the Fentanyl 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

The Fentanyl Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the fentanyl market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Fentanyl Market Include

1. Fentanyl Market Executive Summary

2. Fentanyl Market Segments

3. Fentanyl Market Size And Template Market Growth Rate

4. Key Fentanyl Market Trends

5. Major Fentanyl Market Drivers

……

25. Key Mergers And Acquisitions In The Fentanyl Market

26. Top Fentanyl Companies

27. Fentanyl Market Opportunities And Strategies

28. Fentanyl Market, Conclusions And Recommendations

29. Appendix

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