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Buprenorphine Market Segmented By Partial Agonist and Antagonist mode of action in Sublingual, Transdermal and Buccal route of administration
Buprenorphine is a type of opioid, which is widely used in the treatment of opioid addiction, chronic and acute pains. Buprenorphine drugs belong to the mixed opioid agonist-antagonists drug class and are used for preventing withdrawal symptoms caused due to discontinuation of other opioids.
According to the report published by National Institute on Drug Abuse in January 2019, more than 130 people die because of overdose of opioids every day in US. Buprenorphine is highly in demand due to its various therapeutic applications. Furthermore market players are trying to expand the therapeutic application of buprenorphine thus creating more opportunity and scope for the growth of the buprenorphine market in the near future.
Rising population of opioid addicted patients is the major factors driving growth of the buprenorphine market. The increasing application of buprenorphine for the treatment of acute and chronic pain is further expected to surge the growth of the buprenorphine market. Increasing FDA approval of buprenorphine drugs for medicinal use is further expected to aid in the growth of the buprenorphine market.
Intensive research and development activities to expand the therapeutic applications of buprenorphine drugs is further anticipated to support the growth of the buprenorphine market in the near future. The presence of huge number of Buprenorphine manufacturers is further boosting the growth of the buprenorphine market. However there are several adverse effects associated with the buprenorphine such as dizziness, memory loss etc. which in turn hamper the growth of the buprenorphine market.
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The North America is accounted for significant market share in terms of revenue and is expected to dominate the buprenorphine market over the forecast period. This is attributed to the rising population of opioid addicted patients. Also, intensive research and development activities is further aiding in the growth of the buprenorphine market.
Furthermore FDA approval of buprenorphine are further assisting the growth of the buprenorphine market. Europe is accounted for second most lucrative region due to higher adoption of buprenorphine for pain management. Also improved healthcare facilities and FDA approval of several Buprenorphine medicines in the region is further expected to drive the growth of the buprenorphine market in the region.
The Asia Pacific is expected to register prominent growth in the near future, owing to the increasing patients suffering from pain and rising awareness of people towards benefits of buprenorphine. The higher disposable income of the people and increasing healthcare per capita is also contributing to the buprenorphine market growth.
The Middle East and Africa is projected to witness the least growth in the buprenorphine market, owing to the lack of awareness and least availability of the buprenorphine in the region.
The major key players operating in the buprenorphine market are Purdue Pharma Lp, Bedford Laboratories (ben venue laboratories Inc), Pharmaforce Inc. (Luitpold Pharmaceuticals, Inc.), Hikma Pharmaceuticals PLC, Barr laboratories Inc, Teva Pharmaceutical Industries Ltd., Reckitt benckiser pharmaceuticals inc (Indivior PLC), Neon Laboratories Ltd., Unichem Laboratories and Sun Pharmaceutical Industries Ltd.