Buprenorphine Market Is Estimated To Witness High Growth Owing To Increasing Approval Of New Products

Buprenorphine Market


 Market Overview:

The buprenorphine market includes drugs used for the treatment of opioid addiction and pain management. Buprenorphine is a partial opioid agonist that helps reducing withdrawal symptoms in patients suffering from opioid dependency. It provides an effective treatment option due to its high affinity for opioid receptors and relatively low intrinsic efficacy.

Market key trends:
One of the major trends in The Buprenorphine Market Demand is increasing approval of new products. In April 2023, Braeburn received FDA approval for weekly buprenorphine depot injection (CAM2038) for the treatment of moderate to severe opioid use disorder. The drug delivers continuous plasma levels of buprenorphine over a week with a single subcutaneous injection. Such new product approvals are expected to fuel the market growth during the forecast period by providing improved treatment options.

Porter’s Analysis
Threat of new entrants: Low barrier for new players to enter the market due to moderate capital requirements. However, established brands, patents and economies of scale advantage enjoyed by existing players pose entry barriers.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and differentiated products offered by suppliers.
Bargaining power of suppliers: Suppliers have low-to-moderate bargaining power due to availability of substitute raw materials and inputs. However, compliance with stringent regulations provides some bargaining power.
Threat of new substitutes: Threat of substitutes is moderate as alternative drug therapies are available.
Competitive rivalry: Intense competition due to large number of branded and generic manufacturers.

SWOT Analysis
Strength: wide applications in treating opioid dependence and chronic pain. growing awareness and demand.
Weakness: strict regulations for production and distribution. risk of abuse and addiction.
Opportunity: growing geriatric population prone to chronic diseases. scope in emerging markets.
Threats: entry of alternative drug therapies. pricing pressure due to low-cost generic competitors.

Key Takeaways
The global buprenorphine market is expected to witness high growth at a CAGR of 14% over the forecast period, due to increasing prevalence of opioid use disorders and chronic pain conditions.
Regionally, North America dominated the global market and is expected to maintain its lead, owing to rising healthcare spending and growing adoption of buprenorphine therapy. Asia Pacific is anticipated to exhibit fastest growth owing to rising geriatric population, growing awareness and improving healthcare infrastructure in major countries like India and China.
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. Major players are focusing on expanding their manufacturing facilities and product portfolios through acquisitions and collaborations to strengthen their market position.

Read More:

https://www.dailyprbulletin.com/rising-addiction-rates-to-drive-the-growth-of-buprenorphine-market/

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