July 12, 2024
Naloxone Market

U.S. Naloxone Market Estimated to Witness High Growth Owing to Increasing Preference for Opioid Reversal Agents

The U.S. Naloxone Market is estimated to be valued at US$ 1532.55 Mn or 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 Overview:
Naloxone is an opioid antagonist used to counter the effects of opioid overdose. It works by competitively binding to opioid receptors and reversing the effects of other opioids. Naloxone is available in injection and nasal spray formulations. The rising prevalence of opioid overdoses in the U.S. has increased the demand and use of naloxone products for emergency treatment.

Market Dynamics:
The growth of the U.S. naloxone market is majorly driven by the increasing prevalence of opioid overdose cases as well as the availability of public funding for naloxone purchase and administration training programs. According to the Centers for Disease Control and Prevention (CDC), more than 67,000 drug overdose deaths occurred in the U.S. in 2020, out of which 75% were related to opioids. Naloxone is now considered as the first-line treatment for reversing opioid overdose. Additionally, various government initiatives such as state naloxone standing order laws and increased Medicaid coverage for naloxone are further fueling the adoption of naloxone products in the U.S.

SWOT Analysis
Strength
The U.S. Naloxone market is driven by the growing opioid overdose cases in the country. The increasing awareness about opioid antagonists and easy availability of naloxone are contributing to the market growth. The support from federal and state governments in the form of naloxone distribution programs is helping expand access to naloxone.

Weakness:
Lack of awareness about naloxone among individuals with high risk of overdose can limit the market growth. Limited guidance on optimal naloxone formulation, dosage, and administration continues to pose challenges.

Opportunity:
Growing research and development activity for long-acting naloxone formulations provides new opportunities. Increasing collaborations between life sciences companies and public health organizations to enhance naloxone access presents multiple untapped opportunities.

Threats:

Strong competition from generics once naloxone patents expire can threaten revenue streams of manufacturers. Regulatory challenges pertaining to REMS requirements can limit broader adoption and market expanse.

Key Takeaways

Global U.S. Naloxone Market Size is expected to witness high growth, exhibiting CAGR of 10% over the forecast period, due to increasing prevalence of opioid overdoses in the country. Initiatives to expand access to naloxone and support community distribution have encouraged wider adoption.

Regional analysis related content comprises
The Northeast region currently dominates the U.S. Naloxone market owing to the high burden of opioid crisis in states like New York and Massachusetts. States in Western and Midwestern regions are also progressively adopting naloxone scale-up plans led by agencies like health departments.

Key players related content comprises
Key players operating in the U.S. Naloxone market 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:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it