The Buprenorphine Market Is Estimated To Witness High Growth Owing To Increasing Prevalence Of Opioid Abuse Disorders

The Buprenorphine Market Is Estimated To Witness High Growth Owing To Increasing Prevalence Of Opioid Abuse Disorders

Market Overview:
Buprenorphine is a partial opioid agonist primarily used for the treatment of opioid addiction and pain management. It acts as an opioid receptor agonist and stabilizes opioid receptors to reduce opioid craving. Several buprenorphine formulations available in the market including sublingual film, tablets, implants, injections and transdermal patches. The sublingual films are gaining popularity as preferred formulation owing to its convenience of quick dissolution under tongue and controlled drug delivery.

Market Dynamics:
The Buprenorphine Market Demand is majorly driven by increasing prevalence of opioid abuse disorders worldwide. According to World Health Organization (WHO), opioid use disorders affected around 35 million people globally in 2020 and accounted for over 100,000 drug overdose deaths in the United States alone in 2021. The growing cases opioid addiction, high treatment cost of illicit opioids, and increased awareness regarding advantages of buprenorphine therapy over conventional opioid maintenance therapy are some other key factors propelling the market growth. Additionally, introduction of generic versions and new formulations are expected to further boost the market growth over the forecast period. However, drug abuse and misuse of buprenorphine for non-medical purposes may hamper the market growth to some extent.

SWOT Analysis

Strength: Buprenorphine has a proven track record of reducing withdrawal and craving symptoms for opioid addiction. It is also long-acting and requires dosing only 2-3 times per week. This improves patient compliance compared to daily dosing. Furthermore, it has a safer side effect profile than methadone.

Weakness: Buprenorphine requires specific prescription and facilities for medical supervision due to risk of abuse and diversion. This increases regulatory barriers and costs of treatment. There is also a limited number of healthcare providers with required waiver to prescribe buprenorphine.

Opportunity: The opioid epidemic in North America and growing awareness about opioid addiction treatment presents significant market potential for buprenorphine-based drugs. New long-acting injectable and implant formulations can further improve patient compliance and treatment outcomes.

Threats: Cost pressures in the healthcare industry may limit broader insurance coverage and access to buprenorphine treatment. Rise of new generics and alternative non-opioid treatments also poses competitive threats. Strict regulations around diversion and misuse have the potential to negatively impact the revenue growth.

Key Takeaways

The global buprenorphine market is expected to witness high growth, exhibiting a CAGR of 14% over the forecast period, due to increasing prevalence of opioid addiction disorders worldwide. easy availability of heroin also driving the market growth.

Regional analysis: North America currently dominates the global buprenorphine market due to growing opioid crisis in the US. The US accounts for over 60% of the global market share supported by favorable reimbursement policies and regulatory approvals of new formulations. Europe is the second largest market attributed to increasing government focus on addiction treatment.

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. They are focused on developing new drug delivery technologies and formulations to improve patient outcomes.

Read More:

https://www.marketwebjournal.com/buprenorphine-market-growth-share-and-demand/