Naloxone Market share forecast to witness considerable growth to 2030 | Viatris Inc., Opiant Pharmaceuticals, Pfizer, Inc

The Naloxone Market is estimated for 2023 for the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Naloxone is an opioid antagonist used to block the effects of opioids, especially in overdose. It reverses opioid overdoses by competing with opioids for receptor sites in the brain and blocking their action. Naloxone is commonly used by first responders and emergency departments to counteract life-threatening depression of central nervous system and respiratory function resulting from opioid overdose.

Market Dynamics:

The global naloxone market is expected to witness significant growth over the forecast period owing to rising number of opioid overdoses and deaths. According to the National Institute on Drug Abuse, around 47,600 people died in 2018 from opioids and around 7.1% Americans had used opioids for nonmedical purposes. Additionally, increasing initiatives of governments and regulatory agencies to make naloxone available over-the-counter without a prescription is another factor fueling the market growth. For instance, the U.S. FDA approved naloxone nasal spray in 2015 for use as home-administered first aid to address the national opioid overdose crisis.

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** Note - This Report Sample Includes:

‣ Brief Overview to the research study.

‣ Table of Contents The scope of the study's coverage

‣ Leading market participants

‣ Structure of the report's research framework

‣ Coherent Market Insights' research approach

Major companies in Naloxone Market are:

✤ Viatris Inc.
✤ Opiant Pharmaceuticals
✤ Akorn Operating Company LLC
✤ Pfizer Inc.
✤ Novartis AG
✤ Indivior Plc.
✤ Emergent BioSolutions Inc.
✤ Amphastar Pharmaceuticals Inc.
✤ Kern Pharma S.L.
✤ Hikma Pharmaceuticals PLC
✤ Mundipharma International Limited
✤ Kaleo Inc.

Note: Major Players are sorted in no particular order.

Rising incidence of opioid overdose is a major market driver for Naloxone Market

The growing rate of opioid overdose deaths across the world is fueling the demand for naloxone and driving the naloxone market forward. opioid overdose has become a leading cause of accidental death globally. Easy availability of illicit fentanyl and widespread opioid prescription have contributed significantly to the epidemic. According to CDC, over 93,000 people died from drug overdoses in United States alone in 2020, out of which majority were related to synthetic opioids including illicitly manufactured fentanyl. Growing awareness about opioid overdose emergencies and initiatives by authorities worldwide to make naloxone available without prescription are further propelling the naloxone market growth.

Increasing adoption of non-injectable formulations is another key market driver

Concerns over needlestick injuries and difficulties associated with administration of naloxone injections have boosted the demand for alternative delivery methods such as intranasal sprays and auto-injectors. These user-friendly formulations allow for self or buddy administration without requiring medical training and are highly portable. Manufacturers are continuously striving to develop advanced non-injectable naloxone products with improved stability, effectiveness and convenience. For instance, in 2021, FDA approved KLOXXADO, an intranasal naloxone spray having features like visual confirmation of dose delivery and no assembly required. Rising preference for non-injectable naloxone products is a major factor stimulating growth of naloxone market.

High treatment & manufacturing costs pose significant market restraint

Production of naloxone involves complex technical procedures and stringent quality standards which inflate the manufacturing costs. Similarly, high costs associated with emergency medical care for overdose victims during or post naloxone administration limits widespread adoption. This is a major concern especially in low and middle-income countries where healthcare budgets are limited and affordability is a major issue. Limited insurance coverage or lack of it further restricts access in some regions. High costs associated with naloxone treatment and manufacturing pose a significant challenge for market growth.

Increasing overdose rates among new population segments present a lucrative market opportunity

While historically opioid overdose was more prevalent among certain demographics, its incidence is rising at an alarming rate among new population groups including teenagers, the elderly and pregnant women. This widening of the at-risk population presents scope for growth of naloxone market. Companies opportunities to develop age, gender and special population-specific formulations and co-packaged products. For e.g. availability of mini naloxone doses suitable for pediatric patients. Focus on increasing access for vulnerable groups and non-traditional user segments through appropriate partnerships represents an opportunistic area.

Rise of digital therapeutics is a notable trend in Naloxone market

Growing reliance on digital technologies for healthcare management is also influencing naloxone delivery. Companies are investing in digital therapeutic solutions to improve naloxone accessibility and outcomes. Notable examples include mobile apps allowing emergency responders to direct bystanders to administrate naloxone kits during overdoses. Other innovations involve online and phone prescribing of naloxone, real-time OD monitoring devices etc. Integration of digital technologies helps address barriers like lack of availability in rural areas. The trend of digital therapeutics combined with naloxone products is gaining momentum and will likely continue shaping the future landscape of this market.

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Highlights of the global Naloxone Market report:

→ This analysis provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2023-2030), using 2021 as the base year. It also covers the global Naloxone Market in-depth.

→ It offers enticing investment proposition matrices for this sector and explains the likely future growth of key revenue streams.

→ Additionally, this study offers crucial insights into market forces, limitations, opportunities, new product introductions or approvals, market trends, regional perspective, and competitive tactics used by top rivals.

→ Based on the following factors: company highlights, product portfolio, significant highlights, financial performance, and strategies, it covers key players in the global Naloxone Market.

→ Marketers and company leaders will be able to make wise decisions about next product launches, type updates, market expansion, and marketing strategies thanks to the insights from this research.

→ A wide spectrum of industry stakeholders are covered by the global Naloxone Market research, including investors, vendors, product producers, distributors, new entrants, and financial analysts.

→ The many strategy matrices used in researching the global Naloxone Market will aid stakeholders in making decisions.

The research was developed through the synthesis, analysis, and interpretation of data gathered from multiple sources on the parent market. Additionally, analysis has been done of the economic circumstances and other economic indicators and factors to evaluate their respective impact on the Naloxone Market, along with the present impact, so as to develop strategic and informed projections about the scenarios in the market. This is mostly due to the developing countries' unmet potential in terms of product pricing and revenue collection.

Key Questions Answered In The Report:

• Which regional market will experience the greatest and most rapid growth?

• Who are the top five Naloxone Market players?

• How will the Naloxone Market evolve over the next six years?

• What application and product will dominate the Naloxone Market?

• What are the market drivers and constraints for Naloxone Market?

• What will be the Naloxone Market's CAGR and size during the forecast period?

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About Coherent Market Insights

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

This release was published on openPR.