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Naloxone is an opioid antagonist used for the complete or partial reversal of opioid overdose. It works by blocking the effects of opioids like heroin, morphine, and oxycodone. Naloxone is marketed under various brand names including Narcan. Common usage of naloxone includes emergency medical treatment of known or suspected opioid overdose via injection or nasal spray. The global naloxone market is driven by the alarming rise in opioid addiction and overdose deaths in the US. Naloxone products are used by first responders, medical professionals, and community members trained to administer naloxone for patients at risk for overdose.
The global U.S. naloxone market is estimated to be valued at US$ 1,390.7 Mn in 2023 and is expected to exhibit a CAGR of 10.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The rising cases of opioid overdose present a key driver for the growth of the U.S. naloxone market over the forecast period. According to the Centers for Disease Control and Prevention (CDC), there were over 71,000 drug overdose deaths in the United States in 2019, with opioids involved in about 75% of those deaths. The increasing availability of naloxone products for community use without a prescription further supports the market. For instance, most states allow for 3rd party prescriptions that enable individuals other than patients to acquire naloxone from a pharmacy. Additionally, public health programs focused on expanding access to naloxone aim to prevent opioid overdose deaths by equipping community members and first responders with naloxone. Large scale educational initiatives educate the masses about opioid overdose risks and naloxone usage, driving the demand for naloxone products. Overall, the heightened awareness regarding opioid abuse and rising incidence of opioid overdoses in the U.S. creates conducive environment for growth of the naloxone market.
Segment Analysis
The U.S. naloxone market is dominated by the nasal spray sub segment which holds around 60% market share. Nasal spray naloxone is easy to administer and requires minimal training, which has made it the preferred mode of administration for first responders and laypeople. The intramuscular injection sub segment is the second largest due to its widespread use in emergency medical settings.
PEST Analysis
Political: Federal and state governments promote the greater access and utilization of naloxone to curb opioid overdose deaths. Favorable laws have been passed to allow for community distribution programs.
Economic: Rising demand due to the opioid crisis has been a major driver of market growth. However, price control measures could threaten revenues of pharmaceutical companies.
Social: Growing societal acceptance of naloxone and initiatives aimed at training non-medical individuals in its use are expanding the potential patient base. However, social stigma around opioid addiction remains a challenge.
Technological: No new technologies have been introduced in naloxone delivery systems recently. Pharmaceutical players are exploring next-gen nasal sprays and formulations with even faster onset of action.
Key Takeaways
The global U.S. naloxone market is expected to witness high growth supported by the ongoing opioid epidemic, rising awareness of overdose reversal medicines, and policy changes easing public access.
Regional analysis: The Midwest region accounts for the highest share due to states like Ohio and West Virginia being among those severely impacted by the crisis.
Key players are Mylan N.V., Novartis AG, Indivior Plc., ADAPT Pharma, Inc., Amphastar Pharmaceuticals, Inc., INSYS Therapeutics, Inc., Mundipharma International Limited, Kaleo, Inc., Kern Pharma, S.L., Samarth Life Sciences Pvt. Ltd., Opiant Pharmaceuticals, Pfizer, Sandoz, and Amneal Pharmaceuticals.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
