Fentanyl, whose abuse has become a public health crisis in the United States and an excuse for that country’s aggressive trade and foreign policies, also has a legal market that reaches $17.31 billion (344.96 billion pesos) globally and is dominated by US pharmaceutical companies.
The size of the fentanyl market has grown considerably in recent years, according to a report by The Business Research Company. This growth is attributed to the needs of pain management (especially among cancer patients), medical and surgical procedures, the growth of the opioid analgesic market, and the aging of the population, it details.
Data from The Business Research Company forecasts 6.7 percent growth in the fentanyl market this year, a trend that will continue for the rest of the decade, reaching $22.31 billion by 2029, driven primarily by the need to alleviate pain associated with cancer.
The largest market for legal fentanyl is the United States. Between 40 and 50 percent of prescription revenue for this drug comes from that country, and this is expected to continue for at least a decade.
The consulting firm Research Nester projects that North America (not segmented by country) will account for 35 percent of the market by the end of 2037, due to population growth and the high incidence of cancer.
But just as it is the largest market for legal fentanyl, the United States also has the largest number of pharmaceutical companies, five of which supply the opioid, whether in patches, lozenges, nasal sprays, sublingual sprays, and tablets.
