Dublin, March 12, 2024 (GLOBE NEWSWIRE) -- The "Global Alexipharmic Drugs Market by Application, by Route of Administration, by End-Users, and By Region" report has been added to ResearchAndMarkets.com's offering.
The global alexipharmic drugs market size was estimated to be USD 3.70 billion in 2023 and is expected to reach USD 6.45 billion by 2034 with a CAGR of 5.17% during the forecast period 2024-2034. Increasing incidence of poisoning, advancements in medical research, increasing technological innovations, awareness and education programs, government regulations and initiatives, and drug repurposing strategies will drive the market growth. 
The market for antiepileptic medications is significantly influenced by the rise in accidental and purposeful poisoning cases that occur worldwide. An increased risk of exposure to toxins may be caused by variables such as changes in lifestyle, industrial accidents, and environmental pollution.
By application, the opioid overdose segment accounted for the highest revenue-grossing segment in the global alexipharmic drugs market in 2023 owing to the increasing prevalence of opioid abuse and addiction, heightened awareness of the opioid crisis, and the urgent need for effective and rapid-acting antidotes to counteract opioid overdoses. For instance, Novartis International AG received FDA clearance in December 2022 for RLV-003, a new formulation of intranasal naloxone that may be used at home. Additionally, the benzodiazepine overdose segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising incidence of benzodiazepine overdoses, increased prescription rates for benzodiazepines, a growing awareness of the potential risks associated with their misuse, and the pressing need for efficient antidotes to manage and reverse benzodiazepine toxicity.
By route of administration, the parenteral segment accounted for the highest revenue-grossing segment in the global alexipharmic drugs market in 2023 owing to the growing preference for immediate and reliable drug administration, especially in emergencies where swift action is critical. For instance, in October 2023, GlaxoSmithKline plc and the University of California, San Diego collaborated to create an antidote for the harmful and increasingly common narcotic Xylazine. Additionally, the oral segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing emphasis on patient convenience, advancements in oral drug delivery technologies, and the development of novel formulations that enhance the bioavailability and efficacy of alexipharmic drugs when administered orally.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Application, Route of Administration, and End-User
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Major Market Players
Segmentation: Alexipharmic Drugs Market Report 2023 - 2034
Alexipharmic Drugs Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Opioid Overdose
- Alcoholic Overdose
- Benzodiazepine Overdose
- Cyanide Poisoning
- Others
Alexipharmic Drugs Market Analysis & Forecast by Route of Administration 2023 - 2034 (Revenue USD Bn)
- Oral
- Parenteral
- Others
Alexipharmic Drugs Market Analysis & Forecast by End-User 2023 - 2034 (Revenue USD Bn)
- Hospitals
- Homecare
- Specialty Clinics
- Others
Companies Mentioned
- Pfizer Inc.
- Novartis International AG
- GlaxoSmithKline plc
- Johnson & Johnson
- Sanofi S.A.
- Merck & Co. Inc.
- Eli Lilly and Company
- AstraZeneca plc
- Bayer AG
- Teva Pharmaceutical Industries Ltd.
- Mylan N.V.
- Bristol Myers Squibb Company
- Boehringer Ingelheim International GmbH
- Roche Holding AG
- AbbVie Inc.
For more information about this report visit https://www.researchandmarkets.com/r/s1ww6m
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