Insights on the Naloxone Global Market to 2030 - Increasing Prevalence of Opioid Overdoses Remains as The Most Impactful Driver
Dublin, Jan. 30, 2023 (GLOBE NEWSWIRE) -- The "Naloxone Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030" report has been added to ResearchAndMarkets.com's offering.
The global naloxone market is expected to grow at a CAGR of 10.1% during the forecast period of 2022-2030.
Naloxone is an opioid antagonist designed to rapidly reverse opioid overdose. Naloxone can restore the normal respiration of a person whose breathing has stopped or slowed down due to opioid or heroin overdose. Currently, opioid abuse is one of the foremost causes of drug overdose and is a leading cause of death globally. However, it is more common in North America and Europe.
The opioid crisis in the U.S. has reached epidemic proportions, leading to serious healthcare costs and losses of resources. The urgent need for better treatment and growth in numbers of people suffering from opioid dependence is resulting in the growth in the U.S. naloxone market. Opioid dependence is a serious concern globally, with more than 25 million people affected. The problem exists in both developed as well as developing countries but is greatest in the United States.
The Increasing Prevalence of Opioid Overdoses Remains as The Most Impactful Driver
The increasing prevalence of opioid overdoses is expected to drive the growth of the naloxone market. An increasing incidence of opioid drug abuse in both the developed and developing worlds remains the key driver for the market growth of the naloxone market.
On average, more than 130 people in America die each day from an opioid overdose. Opioids are a class of drugs that include even prescription drugs such as oxycodone, fentanyl, morphine, and hydrocodone. It also includes illegal drugs such as heroin or drugs sold as heroin. The use of opioids for chronic pain management has increased worldwide. This has further increased the non-medical use of opioids due to their addictive characteristics. This is expected to drive the growth of the naloxone market.
The Parenteral Segment Dominated the Formulation Market
Based on the formulation/route of administration, the naloxone market is categorized as parenteral, intranasal, and sublingual. The parenteral segment contributed highest to the market revenues.
Hospitals still remain the key resort when individuals are overdosed, and parenteral remains the key preferred administration method among healthcare professionals. The sublingual route stands second followed by the parenteral route.
0.4mg/ml Most Preferred Dosage
Based on dosage/strength, the naloxone market is segmented into 0.4mg/ml, 1mg/1ml, 0.4mg/0.4ml and 4 mg/0.1 ml. 0.4mg/ml led the market revenues in 2021. However, there is only a minor difference between 4mg/0.1 ml and the other dosages, which stand second in terms of 2021 revenues. The most recommended injections are dosed as 0.4mg at the start of the treatment.
APAC to Grow Fastest During the Forecast Period
After scrutiny of the naloxone market, regional trends, market sizes, and the overall growth paired with the latest and anticipated events, Asia Pacific is observed to be the most attractive region for the naloxone market owing to a swift growth in the uptake of medicines to prevent surging death rates. The U.S. holds the largest market owing to having the largest number of substance addicts vis a vis awareness for available options to reverse the ill effects of an overdose. Latin America is followed by North America.
Collaborations - Key Strategy among Top Market Players
Indivior remains at the top position with respect to product portfolio and business strength. Currently Indivior hold maximum number of products directly and indirectly related to naloxone, for instance, Suboxone, Sublocade and Subutex. Soboxne patent has expired and hence generic products are being introduced in the market. The key strategies followed by the company includes collaborations to understand the key market segments.
For instance, Virginia Tech and Indivior Announce New Collaboration to Study Long-Term Recovery in People with Opioid Use Disorder. The company also received approval for SUBUTEX prolonged release solution for injection, 100mg and 300mg for substitution treatment of opioid dependence in Sweden. The company is also significantly active in tackling stigma in patients with opioid use disorder.
Historical & Forecast Period
This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.
Key questions answered in this report
What are the key micro and macro environmental factors that are impacting the growth of Naloxone market?
What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
Estimated forecast and market projections up to 2030.
Which segment accounts for the fastest CAGR during the forecast period?
Which market segment holds a larger market share and why?
Are low and middle-income economies investing in the Naloxone market?
Which is the largest regional market for Naloxone market?
What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Which are the key trends driving Naloxone market growth?
Who are the key competitors and what are their key strategies to enhance their market presence in the Naloxone market worldwide?
Key Topics Covered:
2. Executive Summary
3. Naloxone Market: Business Outlook & Market Dynamics
3.2. Global Naloxone Market Value, 2020-2030, (US$ Million)
3.3. Key Trends Analysis
3.4. Market Dynamics
3.4.1. Market Drivers
3.4.2. Market Restraints
3.4.3. Key Challenges
3.4.4. Key Opportunities
3.5. Impact Analysis of Drivers and Restraints
3.6. See-Saw Analysis
3.7. Attractive Investment Proposition
3.8. Porter's Five Force Model
3.9. PESTEL Analysis
3.10. Competitive Landscape
3.10.1. Market Positioning of Key Naloxone Market Vendors
3.10.2. Strategies Adopted by Naloxone Market Vendors
4. Naloxone Market: By Route of Administration, 2020-2030, USD (Million)
4.1. Market Overview
4.2. Growth & Revenue Analysis: 2021 Versus 2030
4.3. Market Segmentation
5. Naloxone Market: By Dosage, 2020-2030, USD (Million)
5.1. Market Overview
5.2. Growth & Revenue Analysis: 2021 Versus 2030
5.3. Market Segmentation
5.3.2. 1mg/1 ml
5.3.3. 0.4 mg/0.4 ml
6. Naloxone Market: By Sales Channel, 2020-2030, USD (Million)
6.1. Market Overview
6.2. Growth & Revenue Analysis: 2021 Versus 2030
6.3. Market Segmentation
6.3.1. Hospitals Pharmacy
6.3.2. Outpatient Retail Pharmacy
6.3.3. Online Pharmacy
7. North America Naloxone Market, 2020-2030, USD (Million)
8. UK and European Union Naloxone Market, 2020-2030, USD (Million)
9. Asia Pacific Naloxone Market, 2020-2030, USD (Million)
10. Latin America Naloxone Market, 2020-2030, USD (Million)
11. Middle East and Africa Naloxone Market, 2020-2030, USD (Million)
12. Company Profile
12.1.1. Company Overview
12.1.2. Financial Performance
12.1.3. Product Portfolio
12.1.4. Strategic Initiatives
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