Press release
Combatting Opioid Crisis: Insights into Naloxone Spray Market - Trends, Opportunities, and Strategies for Health Solutions
Naloxone Spray Global Market Report
The Business Research Company offers in-depth market insights through Naloxone Spray Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The naloxone spray market size has grown exponentially in recent years. It will grow from $540.68 billion in 2023 to $668.6 billion in 2024 at a compound annual growth rate (CAGR) of 23.7%. The growth in the historic period can be attributed to increased prevalence of opioid overdose, rising cases of opioid drug abuse in developed countries, advancements in drug development, increasing awareness about the importance of naloxone spray, growing healthcare expenditure.
The naloxone spray market size is expected to see exponential growth in the next few years. It will grow to $1592.93 billion in 2028 at a compound annual growth rate (CAGR) of 24.2%. The growth in the forecast period can be attributed to supportive government initiatives for naloxone distribution, expansion of naloxone accessibility programs, rising prescription rates for opioid analgesics, ongoing concerns and efforts to combat opioid crisis. Major trends in the forecast period include adoption of intranasal naloxone formulations, development of user-friendly naloxone devices, integration of naloxone education in opioid prescribing practices, inclusion of naloxone in community-based harm reduction programs.
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Market Segmentation:
The naloxone spray market covered in this report is segmented -
1) By Dosage: 2 mg/Actuation, 4 mg/Actuation
2) By Distribution Channel: Hospitals, Clinics, Retail Pharmacies, Online Pharmacies, Other distribution channels
Major Driver - Rising Opioid Overdose Epidemic Propels Naloxone Spray Market Expansion
The increase in the prevalence of opioid overdoses is contributing to the growth of the naloxone spray market. Opioids include medicines such as morphine, fentanyl, and and are used for the treatment of pain. However, due to their pharmacological effects, their non-medical use, prolonged use, misuse, and use without medical supervision can lead to opioid dependence, cause breathing difficulties, or even lead to death or other health problems. For instance, in February 2021, according to a report published by the Centers for Disease Control and Prevention (CDC), opioids were involved in 49,860 overdose deaths (or 70.6% of all drug overdose deaths). As a part of emergency medical treatment, naloxone nasal spray is used to reverse the life-threatening effects of an or opioid overdose. Therefore, the increasing prevalence of opioid overdoses drives the growth of the naloxone spray market.
Competitive Landscape:
Major companies operating in the naloxone spray market report are Emergent BioSolutions Inc., Amphastar Pharmaceuticals Inc., Hikma Pharmaceuticals plc, Indivior plc, Nasus Pharma LLC, Neon Laboratories Limited, Opiant Pharmaceuticals Inc., Pfizer Inc., Samarth Pharma Pvt. Ltd., Teva Pharmaceutical Industries Ltd., Troikaa Pharmaceuticals Ltd., Adapt Pharma Inc., AmerisourceBergen Corporation, Cardinal Health Inc., CVS Health Corporation, Express Scripts Holding Company, Harm Reduction Coalition Inc., Kaleo Inc., McKesson Corporation, Mundipharma International Limited, Mylan N. V., NextDistro Inc., Rite Aid Corporation, Novartis International AG, Sandoz International GmbH, Fresenius Kabi USA LLC, Hospira Inc., West-Ward Pharmaceuticals Corp., Walgreens Boots Alliance Inc., Lupin Ltd.
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Top Trend - Product Approvals Driving Expansion In The Naloxone Spray Market
The increase in product approvals is shaping the naloxone spray market. Major companies manufacturing naloxone sprays are focused on new product approvals to broaden their product portfolios and expand their naloxone spray business. For instance, in April 2021, the US Food and Drug Administration (FDA) approved Hikma Pharmaceuticals KLOXXADOTM (naloxone hydrochloride) nasal spray 8mg, for the immediate treatment of recognized or suspected opioid overdose, as manifested by respiratory and/or central nervous system depression, in adult and pediatric patients. KLOXXADOTM provides an important new treatment to address the opioid epidemic and contains twice as much naloxone per spray as Narcan Nasal Spray 4mg in a ready-to-use nasal spray to reverse the effects of opioid overdose.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Naloxone Spray Market Characteristics
3. Naloxone Spray Market Trends And Strategies
4. Naloxone Spray Market - Macro Economic Scenario
5. Naloxone Spray Market Size And Growth
…..
27. Naloxone Spray Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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