Market Overview:
Buprenorphine is a partial opioid agonist primarily used to treat opioid dependence or help with opiate withdrawal. It works by binding to and activating the same opioid receptors as other opiates, but inducing only a partial agonist effect. When used properly, it reduces withdrawal symptoms and opioid cravings without producing strong psychoactive effects or a high. Buprenorphine is available as tablets, films, and implants that deliver consistent medication over several months. Its effectiveness, along with the availability of long-acting formulations, make it a preferred treatment option for opioid addiction.
Market key trends:
One of the key trends in The Buprenorphine Market Demand is the rising prevalence of opioid addiction disorders globally. The easy availability of opioid drugs and lack of awareness about their adverse effects have led to an increase in substance abuse disorders. As per the UNODC, around 34-36 million people suffer from an opioid use disorder worldwide. Buprenorphine is an effective medication-assisted treatment for opioid addiction and is recommended as the standard treatment by health organizations. Its adoption rates are expected to grow further with intensifying efforts to curb the misuse of opioids through treatment programs.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate due to the regulatory requirements and manufacturing infrastructure required for production.
Bargaining power of buyers: The bargaining power of buyers is high due to the availability of generic versions and presence of substitutes in the market.
Bargaining power of suppliers: The bargaining power of suppliers is low due to availability of substitutes and less differentiation in products.
Threat of new substitutes: The threat of new substitutes is high as there are many pharmaceuticals available for treatment of pain management and substance abuse disorders.
Competitive rivalry: High due to presence of many global and local players competing for larger market share.
Key Takeaways
The global buprenorphine market is expected to witness high growth, exhibiting CAGR of 14% over the forecast period, due to increasing prevalence of opioid addiction disorders. The market size for 2023 is estimated to be US$ 5526.99 Mn.
Regional analysis: North America dominates the global buprenorphine market and is expected to continue its dominance over the forecast period. This is attributed to high prevalence of opioid use disorder and growing government support for addiction treatment in the US. Europe is also expected to grow at a significant rate owing to increasing prescription of buprenorphine for pain management.
Key players: 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. These players are focusing on expanding their manufacturing facilities and sales network to strengthen market position.
Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
