February 25, 2024
Naloxone Market

Rising Cases Of Opioid Overdose Is Projected To Boost Growth Of The Global Naloxone Market

Market Overview:

Naloxone is an opioid antagonist used for the complete or partial reversal of opioid overdose, including respiratory depression. It works by blocking the effects of opioids by binding to the opioid receptors without activating them, thereby reversing the opioid effects like sedation, hypotension and respiratory depression which can cause death in overdose. Naloxone is commonly used with opioid analgesics as an overdose antidote. Growing concern over overdose deaths caused by opioids and rising cases of opioid overdose are expected to drive the demand for naloxone for effective treatment and intervention.

The global Naloxone Market is estimated to be valued at US$ 1234.6 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 key trends:

One of the key trends in the Global Naloxone Market Size is the availability of easy-to-use naloxone formulations such as nasal sprays and auto injectors. For instance, in 2021, FDA approved KloxxadoTM (naloxone hydrochloride) Nasal Spray – an opioid overdose reversal agent which comes in a ready-to-use spray, making it easy to use with no assembly required. These easy-to-use naloxone formulations are designed to simplify the administration during emergency situations. This is expected to increase acceptance and adoption rate of naloxone for treatment of opioid overdose.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate due to required high capital and R&D investment for developing new products. However, ease of getting regulatory approvals can encourage new players to enter into this market.

Bargaining power of buyers: The bargaining power of buyers is moderate as there are many established players providing naloxone products for overdose reversal. Buyers can negotiate on the pricing factor but alternative treatment options are limited.

Bargaining power of suppliers: The bargaining power of suppliers is low due to availability of large number of suppliers providing raw materials required for manufacturing naloxone. This eases raw material sourcing.

Threat of new substitutes: There is low threat of new substitutes as naloxone is the only approved opioid antagonist for emergency treatment of known or suspected opioid overdose.

Competitive rivalry: The naloxone market experiences high competitive rivalry due to presence of many national and international established brands offering generic and branded variants of naloxone products.

Key Takeaways

The global naloxone market is expected to witness high growth, exhibiting CAGR of 10% over the forecast period, due to increasing prevalence of opioid overdose cases. The market size for 2023 is estimated to be US$ 1234.6 Mn.

Regional analysis: North America dominates the global naloxone market owing to rising opioid addiction rates and subsequent deaths due to overdose in the US. Availability of generic naloxone variants also aids market growth in the region. Asia Pacific exhibits fastest growth owing to improving access to naloxone and large patient pool suffering from opioid dependence in countries like China and India.

Key players: Key players operating in the 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, and Kaleo, Inc. Viatris Inc. dominates the generic naloxone market with wide product portfolio

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it