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| Global Buprenorphine Market Size |
The buprenorphine market has been
witnessing significant growth due to the growing adoption of buprenorphine for
pain management and opioid addiction treatment. Buprenorphine is a partial
opioid agonist prescription medication primarily used to treat opioid addiction
and relieve moderate to severe pain. It acts on the opioid receptors in the
brain to produce analgesic and addiction- relieving effects. Growing prevalence
of chronic pain and rising opioid addiction cases worldwide have boosted the
demand for buprenorphine. Wide acceptance of buprenorphine-based drugs like
Suboxone and Subutex for medication-assisted treatment of opioid use disorder
is a key driver.
The Global buprenorphine market is estimated to be valued at US$ 6367.1 Mn in 2024 and is expected
to exhibit a CAGR of 3.9% over the
forecast period 2024 to 2030.
Key Takeaways
Key players operating in the buprenorphine market are Hyundai Heavy Industries,
Daewoo Shipbuilding & Marine Engineering, China State Shipbuilding
Corporation, Mitsubishi Heavy Industries, Samsung Heavy Industries, Imabari
Shipbuilding Co., Ltd., Tsuneishi Group, China Shipbuilding Industry
Corporation, General Dynamics Corporation, Fincantieri S.p.A., Meyer Werft GmbH
& Co. KG, Navantia, Damen Shipyards Group, STX Offshore & Shipbuilding
Co., Ltd., Kawasaki Heavy Industries.
The Global
Buprenorphine Market Size provides ample opportunities for
manufacturers due to the rising preference for generic buprenorphine drugs
owing to their cost-effectiveness. Developing new drug formulations, expanding
geographical reach, and strategic collaborations are some approaches undertaken
by key players to capitalize on market opportunities.
Global expansion of leading players through mergers and acquisitions, joint
ventures, expansions, and partnerships enables market penetration across
regions. For instance, Indivior expanded its global footprint by acquiring
licensed rights to commercialize Suboxone film in Canada and Latin American
countries.
Market Drivers
Growing prevalence of chronic pain disorders such as cancer pain, arthritis,
and neuropathic pain is a key driver as buprenorphine is widely used to manage
moderate to severe chronic pain. According to the estimates of WHO, over 1.5
billion people suffer from chronic pain worldwide.
Increasing government focus on medication-assisted treatment (MAT) of opioid
addiction disorders by approving buprenorphine-based drugs as first-line
treatment boosts market growth. For instance, in 2020, the FDA approved
Sublocade, an extended-release buprenorphine injection for MAT.
Market Restraints
Stringent regulations regarding opioid prescriptions and dispensing in
countries may hamper market potential to some extent.
Risks of misuse, abuse and dependency associated with buprenorphine-based
treatments limit their widespread adoption. Developing abuse-deterrent
formulations remains a challenge.
Segment Analysis
The buprenorphine market is dominated by the chronic pain segment. This segment
holds the major share of the overall market as buprenorphine is primarily used
in treating chronic pain conditions like back pain, arthritis pain, cancer
pain, etc. The chronic pain segment experiences high demand for buprenorphine
due to increasing prevalence of chronic pain disorders among the geriatric
population. As per estimates, over 40% of people aged above 60 suffer from
chronic pain annually. Buprenorphine is highly preferable for chronic pain
management as it provides effective relief and has a low risk of dependency.
Global Analysis
On the regional front, North America dominates the global buprenorphine market
and is expected to continue its dominance in the forecast period. High prevalence
of chronic pain disorders, availability of advanced treatment options, and
presence of key players in the region drives the growth of the North American
market. Europe holds the second largest share due to increasing research focus
on novel pain management therapies. However, Asia Pacific is projected to
witness the fastest growth rate fueled by growing awareness about pain
management in emerging nations like China and India. Japan, South Korea, and
other Asia Pacific countries also contribute to the regional market growth.
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