Fentanyl Market size was over USD 17.02 billion in 2024 and is poised to exceed USD 37.54 billion by the end of 2037, witnessing over 6.4% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of fentanyl is evaluated at USD 17.88 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.
Growth Drivers
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
6.4% |
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Base Year Market Size (2024) |
USD 17.02 billion |
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Forecast Year Market Size (2037) |
USD 37.54 billion |
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Regional Scope |
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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 2037. 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 2037. 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:
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By End User |
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By Route of Administration |
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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 2037. 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 2037. 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.
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 Pawar
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