Naloxone Market Predicted to Witness Steady Growth During the Forecast Period 2023-2030 | Viatris Inc., Opiant Pharmaceuticals, Pfizer, Inc

Market Overview:

Naloxone is an opioid antagonist used for the complete or partial reversal of opioid overdose such as accidental or intentional overdoses of prescription or illicit opioids. Naloxone works by blocking the effects of opioids and restoring normal breathing. It comes in both injectable and nasal spray forms.

Market Dynamics:

The growth of the naloxone market is driven by the rising cases of opioid overdoses across the globe. According to the National Institute on Drug Abuse, an estimated 70,237 people died of drug overdoses in 2020 in the United States alone. This was an increase of 44% from the previous year. The majority of these deaths involved opioid misuse. The increasing prevalence of opioid abuse is expected to boost the demand for naloxone for emergency treatment of opioid overdose during the forecast period.

Another driver for the market growth is various government initiatives aimed at expanding access to naloxone. Regulatory approvals for over-the-counter distribution of naloxone nasal spray without prescription is encouraging its adoption. This is increasing availability of naloxone in pharmacies and enabling bystanders to seek emergency treatment without delay in case of an opioid overdose.

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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.

- Additionally, this research discusses the basic factors influencing market growth as well as the chances, difficulties, and risks that the leading rivals and the sector as a whole confront. It also examines important new trends and their effects on present and future growth.

- The comprehensive research evaluation of the global Naloxone Market gives granular analysis of the industry's new upgrades, extreme trends, current market pilots, obstacles, standards, and technical domain.

Growing demand for opioid treatment

The growing demand for opioid overdose treatment is a key driver of the naloxone market. Overdose deaths involving opioids, including prescription opioids have quadrupled since 1999 in the United States according to the CDC. The misuse of and addiction to opioids-including prescription pain relievers, and synthetic opioids such as fentanyl-is a serious national crisis that affects public health as well as social and economic welfare. This epidemic has led to increased screening and awareness about opioid overdose and wider availability of naloxone to reverse opioid overdose. As long as the rates of opioid misuse and overdose remains high, the need and demand for naloxone kits will continue to grow significantly.

Expanding access and availability of naloxone

Another key driver propelling the naloxone market growth is the expanding access to and availability of naloxone. Many organizations and government bodies are working to make naloxone more accessible to reduce opioid overdose deaths. For example, all 50 U.S. states along with Washington D.C. have now adopted legislation expanding naloxone access. Some states allow naloxone to be dispensed without a prescription while others have implemented wider prescription and non-prescription distribution programs. Many police and fire departments also now carry naloxone. Increased ease of access to naloxone for families and caregivers of opioid users as well as for first responders is translating to greater demand and adoption of naloxone products.

Cost constraints of generic naloxone

One major restrain hampering the naloxone market potential is the lower costs and wider availability of generic naloxone. The FDA approved naloxone hydrochloride injection has been available as a generic for a long time. Several basic naloxone injections and nasal sprays are now accessible as unbranded generics at relatively lower prices compared to branded innovator products. While generic naloxone has helped make this life-saving drug more affordable and accessible to communities and first responders, it poses pricing pressure on new branded naloxone products entering the market. The cost-sensitivity and demand for low-cost generic drugs could hold back revenue growth at least in the short-term even as the overall market volume climbs.

Addressing needle-phobia and ease of use

The development of needle-free and easier to administer naloxone products presents a major commercial opportunity in this market. Although nasal spray and auto-injector formulations have improved convenience over vials and syringes, some opioid users or bystanders seeking to reverse an overdose may still fear or hesitate to use equipment involving needles or sprays. This issue of needle-phobia and lack of confidence in using the available devices correctly under stress can reduce the willingness to keep or carry naloxone. Innovation of new naloxone delivery approaches that appeal to more people through complete elimination of needles as well as simplest self-administration mechanism can help address an important unmet need. Products harnessing innovative formats such as oral tablets, patches or breath strips could unlock greater demand and uptake especially among those hesitant to use current naloxone delivery options.

Transition to rescue medication

A key trend observed in the naloxone market is the shift from viewing naloxone solely as an emergency treatment to a rescue medication that can be proactively used to prevent overdose deaths. The focus is transitioning from just expanding distribution of naloxone kits to first responders to strategies enabling broader public access at community locations and homes of those at risk. There is growing recognition that easy availability of naloxone at sites frequented by opioid users such as syringe exchanges, peer recovery homes, public bathrooms etc. could help curtail overdose casualties. Public health officials are calling for naloxone to become as ubiquitous as epinephrine for treating allergic reactions. This change in perception and focus on proactive rescue supply complements harm reduction approaches to enhance naloxone access where and when it is most needed.

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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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