Fentanyl Market Size & Share, by Route of Administration (Sublingual Tablet, Buccal Tablet, Oral Film); End-user (Hospital, Oncology Centers, Surgical Centers) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 3762
  • Published Date: Mar 31, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2035

Fentanyl Market size is projected to surpass USD 28 billion by the end of 2035, growing at a CAGR of 6% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of fentanyl was over USD 15 billion. The market growth is attributed to the increasing prevalence of cancer across the world. According to the World Health Organization (WHO), in the year 2018 it went from 9.6 million to the year 2020, when the number of the people died of cancer more than 10 million. Added to this is the expected increase in cancer awareness, the development of new treatments, and increased investment in medical research. Cancer is the leading cause of premature death worldwide, which is why government agencies around the world are investing in initiatives and programs to reduce cancer mortality. For instance, in the year 2013 the World Health Assembly recommended cancer prevention in the context of an integrated approach aimed at achieving certain goals of the Global Plan of Action to Prevent and Control Non-Communicable Diseases (NCDs).

Moreover, increasing global healthcare spending is estimated to boost the growth of the global fentanyl market. According to the data by The World Bank, in the year 2018, USD 1,111,082 per capita was spent on global healthcare, up from USD 999,104 in the year 2015. In addition to this, increasing awareness campaigns on the therapeutic effects of fentanyl are expected to increase the potential for market expansion during the forecast period. Fentanyl is prescribed to patients experiencing sudden episodes of extreme pain for cancer. It is not administered as a regular medication and should only be taken when an episode occurs.


Fentanyl Market
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Fentanyl Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~6%

Base Year Market Size (2022)

~ USD 15 Billion

Forecast Year Market Size (2035)

~ USD 28 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)
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Fentanyl Sector: Growth Drivers and Challenges

Market-Growth-Drivers

Growth Drivers

  • Growing Geriatric Population – The geriatric population is prone to cancer diseases and it is estimated that the geriatric population growth across the globe is driving the market growth. From the year 2015 to the year 2050, the proportion of the world's population over 60 is estimated to almost double from 12% to 22 per cent. In the year 2020, there will be more people over the age of 60 than children under the age of 5, and by 2050 it is projected that 80% of the world's older people will live in lower and middle income countries.
  • Worldwide Prevalence of Cancer – Cancer incidence is expressed as the number of people living without being diagnosed with cancer. It is defined by how common cancers develop (incidence) and how long they live after diagnosis (survival). Therefore, the most common cancers with the longest survival rates have the highest prevalence. For instance, the prevalence of breast cancer in women and prostate cancer in men is high, estimated at 42% and 43% in the year 2019. Fentanyl is widely used in cancer treatment. Hence, it is estimated to be a major growth driver.
  • Rising healthcare Spending – According to the latest spending data, global healthcare spending has increased over the past two decades, effectively doubling from 8.5% in 2000 to USD 8.5 trillion in the year 2019, increasing GDP reached 9.8%. The boom will continue during the forecast period.
  • Growing Oncology Expenditure – Global oncology spending in the year 2021 was found to be around USD 185 billion. For comparison, six years ago oncology spending was about USD 85 billion. This is also estimated to strengthen the oncology information system.
  • Rise in Research Spending – Growth in the global market during the forecast period can be further attributed to increased investment in research and development activities to continuously find more viable solutions for medical procedures. Research reports show that global R&D spending has more than tripled in real terms since 2000, rising from about USD 680 billion to more than USD 2.5 trillion in 2019.

Challenges

  • Side Effects of Cancer Medications – Increasing personal concern about side effects associated with the use of IBS medications is one of the major factors expected to slow down the market growth.
  • Low awareness of these drugs among people in low and middle-income countries
  • Lack of reimbursement policies for treatment of cancer in some countries


Fentanyl Segmentation

End-user (Hospital, Oncology Centers, Surgical Centers)

The global fentanyl market is segmented and analyzed for demand and supply by end user into hospital, oncology centers, surgical centers, and others. Out of the four types of end users, the oncology centers segment is estimated to gain the largest market share of about ~35% in the year 2035. The growth of the segment can be accredited to the fact that oncology centers specifically offer cancer treatments. An increasing pool of cancer patients is also estimated to boost the growth of the segment. In addition, the growth of the hospital segment can be accredited to the large number of patients requiring treatment for cancer conditions. The hospitals are also growing rapidly in number, which is estimated to positively influence the segmental growth. For instance, by the year 2022 there was noted to be approximately 6,100 hospitals in the United States. Hospitals provide a wide range of medical care. Physicians, called hospital doctors, typically specialize in internal medicine, pediatrics, or general practice. They have the knowledge to solve common problems and the resources to solve more complex medical problems. Hospitals may also offer specialized care, such as neurology, obstetrics and gynecology, and oncology.

Route of Administration (Sublingual Tablet, Buccal Tablet, Oral Film)

The global fentanyl market is also segmented and analyzed for demand and supply by route of administration into sublingual tablet, buccal tablet, oral film, and others. Amongst these four segments, the oral film segment is expected to garner a significant share of around ~30% in the year 2035. The growth of the segment can be accredited to the fact that fentanyl retains half of its analgesic properties when taken orally, hence the safer effects of fentanyl when taken orally. Across the world, it has been noted that aged people are more prone to cancer and for them oral route of administration is much more easier than other methods. Overall cancer incidence increases steadily with age, from less than 25 cases per 100,000 under 20 years to more than 1000 cases per 100,000 people for aged 60 years and over. Hence, this is estimated to add to the segmental growth notably.

Our in-depth analysis of the global market includes the following segments:

            By End User

  • Hospital
  • Oncology Centers
  • Surgical Centers
  • Others

 

   

      By Route of Administration

  • Sublingual Tablet
  • Buccal Tablet
  • Oral Film
  • Others 

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Fentanyl Industry - Regional Synopsis

North American Market Forecast

The North American fentanyl market, amongst the market in all the other regions, is projected to hold the largest market share of about ~35% by the end of 2035. The regional growth can majorly be attributed to the growing population and research activity; health insurance covering various cancer diagnoses. Rising economic status and affordability of advanced treatments for patients suffering from cancer are estimated to boost the growth of the market in the region during the forecast period. According to the U.S. Bureau of Economic Analysis, personal income in the U.S. in August 2022 grew at a rate of 0.3% to reach USD 71.6 billion, while personal spending was observed to grow at a rate of 0.4% to reach USD 6.75 billion. In the United States, 1,752,735 new cancer cases were reported in 2019 and 599,589 people died from cancer. For every 100,000 people, 439 new cancer cases were reported and 146 people died of cancer. Moreover, the insurance companies in North America offer efficient reimbursement policies to the patients going through cancer treatment, which encourages the patients to opt for advanced treatment methods. Hence, this is also estimated to add to the regional market growth significantly.

APAC Market Statistics

The fentanyl market in the Asia Pacific region market, amongst the market in all the other regions, is projected to hold the second largest share of about ~24% during the forecast period. The growth of the market in this region can primarily be attributed to the constantly growing aged population throughout the region. The elderly people are more prone to cancer diseases that require fentanyl for their treatment. Asia Pacific's population is aging faster than any other region in the world. Among the total aged population of the world, Asia Pacific accounts for 60 per cent, or 630 million, that are 60 years of age or older. The geriatric population in the region is projected to reach 1.3 billion by the year 2050.  Additionally, the government's role in raising awareness regarding the cancer and its medications is expected to boost the market growth in the region. Moreover, increasing number of cancer patients and deaths, increased funding for medical infrastructure are expected to affect the growth of the market in the region.

Europe Market Forecast

Further, the fentanyl market in the Europe, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growth of the market can be attributed majorly to the increased drug activity in Europe, including the synthetic opioid fentanyl. There is now a recent European Union-funded initiative initiated by the Trimbos Institute to prepare for the synthetic opioid (SO) threat, called SO-PREP. According to their website, the SO-PREP project was established to gain better insight and understanding of the current use and trends of SO, and related health needs, in order to strengthen the SO readiness of European health systems. Their goal is to develop an evidence-based toolkit with implementation guides outlining monitoring and response best practices. According to a drug report last year by the European Center for the Surveillance of Drugs and Addiction, 1 in 5 of those who started drug treatment for opioid-related problems, it cited synthetic opioids, not heroin, as the main problem drug.

Research Nester
Fentanyl Market Size
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Companies Dominating the Fentanyl Landscape

top-features-companies
    • Thermo Fisher Scientific Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Boehringer Ingelheim GmbH
    • Bayer AG
    • Novartis AG
    • Sanofi-aventis Groupe
    • Abbott Laboratories
    • Merck & Co., Inc.
    • Validus Pharmaceuticals LLC
    • Teva Pharmaceutical Industries Ltd.
    • Siemens Healthcare GmbH

In-the-news

In The News

  • The Drug Enforcement Administration (DEA) has issued a safety alert about a surge in counterfeit prescription drugs containing alarming levels of fentanyl and stimulants.

  • The Washington State Department of Health and Human Services has warned that fentanyl overdoses are on the rise in the United States. These tablets contain large amounts of illicit fentanyl of varying purity and potency. Overdose mortality increased significantly in 2021. 

 

 


Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 3762
  • Published Date: Mar 31, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Growing incidences of cancer and the growing oncology spending are the major factors driving the growth of the fentanyl market.

The market is anticipated to attain a CAGR of 6% over the forecast period, i.e., 2023-2035.

The side effects of narcotics are the challenges affecting the market growth.

The market in North America is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are Bayer AG, Novartis AG, Sanofi-aventis Groupe, Abbott Laboratories, Merck & Co., Inc., Validus Pharmaceuticals LLC, Teva Pharmaceutical Industries Ltd., Siemens Healthcare GmbH, and others.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by route of administration, end-user, and by region.

The oncology centers segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Fentanyl Market Report Scope
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