Global Buprenorphine Market, by Application (Analgesic, Opioid Antagonist), by Route of Administration (Injectables, Sublingual, Transdermal) by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 5.52 Billion in 2023 and is expected to exhibit a CAGR of 14.9% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Regulatory authorities are approving buprenorphine products for the treatment of opioid dependence, and it is expected to drive market’s growth over the forecast period. For instance, in May 2021, Camurus AB, a pharmaceutical company, announced the Therapeutic Goods Administration, an Australian regulatory body, had approved key label updates to Buvidal Weekly and Buvidal Monthly (buprenorphine) modified-release solutions for injection. The approval includes
- A new higher Buvidal Monthly 160 mg dose
- Direct initiation onto Buvidal Weekly, removing the requirement to be stabilized on sublingual buprenorphine prior to commencing treatment with Buvidal
- Changing the contraindications in pregnancy and lactation to precautions.
Global Buprenorphine Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others, faced problems with regard to the transportation of drugs from one place to another. These factors caused COVID-19 to have a negative impact on the global buprenorphine market.
Global Buprenorphine Market: Key Developments
Increasing product launches by key market players are expected to drive the growth of the global buprenorphine market over the forecast period. For instance, in February 2018, Indivior PLC, a pharmaceutical company, has announced that an authorized generic form of Suboxone (buprenorphine and naloxone) Sublingual Film (CIII) has been made available in the U.S. Sandoz International GmbH, a biopharmaceutical company, is marketing and distributing the approved generic on Indivior's behalf.
Browse 35 Market Data Tables and 34 Figures spread through 170 Pages and in-depth TOC on “Global Buprenorphine Market”- Forecast to 2030, Global Buprenorphine Market, by Application (Analgesic, Opioid Antagonist), by Route of Administration (Injectables, Sublingual, Transdermal) by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/buprenorphine-market-4237
Key Takeaways of the Global Buprenorphine Market:
- The global buprenorphine market is expected to exhibit a CAGR of 14.9% during the forecast period as key market players are re-launching their products in the market. For instance, in February 2019, Dr. Reddy’s Laboratories Ltd., a pharmaceutical industry, launched its generic version of the British drugmaker's opioid dependence treatment medicine Suboxone in the U.S. a day after the U.S. Supreme Court denied Indivior PLC’s, a pharmaceutical industry’s, request for a stay. The re-launch was announced by Dr. Reddy's in response to the District Court's preliminary injunction preventing Discipline Review Letter from selling the generic being overturned by the Court of Appeals for the Federal Circuit.
- Among application, the analgesic segment is estimated to hold a dominant position in the global buprenorphine market, owing to the increasing prevalence of neuropathic pain over the forecast period. For instance, according to the data published in October 2022 by Hindawi, a publisher, globally, 7%–10% of people suffer from neuropathic pain, with 20–30% of those cases being chronic. Neuropathic pain is pain that is caused by injured nerves. It differs from pain signals, which are sent by damaged tissue to healthy nerves. Numerous medications, including buprenorphine, are frequently used to treat neuropathic pain.
- Among region, North America is expected to be the dominant region in the global buprenorphine market, as buprenorphine is U.S. FDA-approved for treatment of chronic pain; the increasing prevalence of chronic pain in the U.S. is expected to drive the buprenorphine market in the region. For instance, according to the article published on April 14, 2023, by the Centers for Disease Control and Prevention, in the U.S., there were an estimated 51.6 million adults who had chronic pain in 2021, and 17.1 million of those people had high-impact chronic pain.
- Major players operating in the global buprenorphine market include Mallinckrodt, Noramco, Unichem Laboratories Ltd., Sanofi, Johnson Matthey, Arevipharma Gmbh, Resonance Laboratories Pvt. Ltd., Sun Pharmaceutical Industries Limited, Rusan Pharma Ltd. Micro Orgo Chem, Faran Shimi Pharmaceutical, Indivior PLC, Titan Pharmaceuticals, Inc., Hikma Pharmaceuticals PLC.
