Newark, New Castle, USA, June 21, 2023 (GLOBE NEWSWIRE) -- In accordance with the most recent analysis by Growth Plus Reports, the global market for naloxone was estimated to be worth US$ 1.15 billion in 2022 and expected a revenue CAGR of 10.2% to reach US$ 2.75 billion by 2031.
The global market for naloxone was analyzed and is expected to rise significantly in terms of revenue during the forecast period. Naloxone is a medicine that is used to treat opioid overdoses. Naloxone's mode of action involves attaching to the same brain receptors that opioids do, but without having the same effects.
Key Takeaways:
- The rising consumption of opioids is driving the market revenue share.
- The increased awareness among the population in preventing overdose death due to opioids is raising the demand for naloxone.
- These novel formulations provide ease of use and enhanced accessibility, which may assist in increasing naloxone availability even further.
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Naloxone Market Scope
| Report Attribute | Details |
| Market Size Value in 2022 | US$ 1.15 billion |
| Market Size Value in 2031 | US$ 2.75 billion |
| Growth Rate | CAGR of 10.2% from 2023 to 2031 |
| Base Year for Estimation | 2022 |
| Forecast Period | 2023 to 2031 |
| Historical Year | 2021 |
| Segments Covered | Application, Route of Administration, Distribution Channel, and Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Recent Development in the Global Naloxone Market:
- In March 2023, The FDA granted BioSolutions over-the-counter status for NARCAN Naloxone HCl Nasal Spray 4 mg for opioid overdose emergency therapy.
- In January 2023, Hikma introduced a 2mg/2ml naloxone hydrochloride injection in a prefilled syringe. Hikma has released its third PFS product.
Competitive Landscape
A list of the top market players operating in the global market for naloxone:
- Pfizer, Inc.
- Hikma Pharmaceuticals PLC
- Novartis AG
- Viatris Inc.
- Indivior PLC
Market Drivers and Restraints:
The global naloxone market revenue is driven by the increasing prevalence of opioid abuse and overdose, rising awareness about naloxone, and government initiatives to promote the use of naloxone. Furthermore, efforts to increase access to the medication and availability of different formulations of naloxone contribute to market revenue growth.
However, a lack of awareness about using naloxone is expected to restrain the revenue growth of the global naloxone market.
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Market Segmentation:
Segmentation By Applications
Based on applications, the global naloxone market is segmented into opioid overdose and alcohol overdose. Due to the high cases of morbidity and mortality, the opioid overdose segment accounts for the largest market revenue share. Naloxone is the primary treatment and a fast-acting and effective opioid antagonist.
Segmentation By Route of Administration
Based on the route of administration, the global naloxone market is segmented into injectable, nasal, and oral. The nasal route of the administration's segment accounts for the largest revenue share due to easy use, non-invasiveness, and high convenience.
Segmentation By Distribution Channel
Based on the distribution channel, the global naloxone market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. The retail pharmacies segment accounts for the largest revenue share due to the ease of availability of required drugs and proactively providing naloxone.
Regional Growth Dynamics
Based on the region, the global naloxone market is segmented into North America, Asia Pacific, Latin America, Europe, and the Middle East & Africa. Due to rising public awareness, sophisticated healthcare infrastructure, and greater demand for medications due to overdose of opioids, North America accounts for the largest revenue share in the global market.
Report Coverage
Growth Plus Reports studied the global market for naloxone in-depth. Basic market features, important investment sectors, analyses of regional growth, revenue projections, rival market participants, and mergers and acquisitions were all examined.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2021
- Base Year – 2022
- Forecast Years – 2023 to 2031
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2022)
- Regulatory Landscape
- MARKET DYNAMICS
- Drivers
- Restraints/Challenges
- Opportunities
- GLOBAL NALOXONE MARKET - ANALYSIS & FORECAST, BY APPLICATION
- Opioid Overdose
- Alcohol Overdose
- GLOBAL NALOXONE MARKET - ANALYSIS & FORECAST, BY ROUTE OF ADMINISTRATION
- Injectable
- Nasal
- Oral
- GLOBAL NALOXONE MARKET - ANALYSIS & FORECAST, BY DISTRIBUTION CHANNEL
- Hospitals Pharmacies
- Retail Pharmacies
- Online Pharmacies
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VALUE PROPOSITIONS RELATED TO THE REPORT:
- Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on 'Strategic Developments' registered by leading players of the market.
CUSTOMIZATION OPTIONS:
- Distributor Landscape Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- 'Business Profile' of Key Players
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