Naloxone
is a pure opioid antagonist used for the complete or partial reversal of opioid
depression, including respiratory depression induced by opioids like heroin,
morphine, and oxycodone. It works by binding to opioid receptors and blocking
or reversing the effects of other opioids without exerting any agonist effects
itself at recommended dosages. The product has several formulations, including
nasal sprays, vials for injections, and auto-injectors designed for use by
friends and family to help reverse potential overdoses. It has become a key
component of emergency medical service responses and public health programs
aiming to decrease opioid overdose deaths. With rising rates of opioid
addiction and overdoses in various countries, the accessibility of naloxone has
been increased over-the-counter in pharmacies to allow for wider availability
in case of emergencies.
The
global naloxone market is estimated to be valued at US$ 1234.6 million in 2024
and is expected to exhibit a CAGR of 4.7% over the forecast period 2024 to
2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Increased Opioid Overdose Cases and Legalization of Naloxone Access are Driving
the Growth of the Market. As referred from the heading, one of the key drivers
fueling the naloxone market growth is the rising incidence of opioid overdose
cases across the globe. According to data by the Centers for Disease Control
and Prevention (CDC), nearly 81,000 people died of drug overdoses in the United
States in the 12 months leading up to May 2020 which was the highest number of
overdoses ever recorded in a year as the opioid epidemic worsened due to the
COVID-19 pandemic. Additionally, several countries are now permitting expanded
access to naloxone to help reduce overdose deaths. For example, many states in
the US have passed "Good Samaritan" laws that provide legal
protection to those seeking medical help during an overdose. Some countries
have also made naloxone available over-the-counter without a prescription. This
wider accessibility and legalization are helping increase public awareness and
adoption of naloxone for emergency use.
Segment Analysis
The global Naloxone market is dominated by the intranasal sub-segment, which
holds around 55% of the market share. Naloxone is majorly administered through
injection and intranasal spray formulations to treat opioid overdose in
emergency situations. The intranasal sub-segment is dominating due to its
non-invasive route of administration. Intranasal formulations provide a fast
onset of action of naloxone within minutes without requiring medical expertise
to administer.
PEST Analysis
Political: Government bodies are undertaking initiatives to spread awareness
about opioid overdose and the importance of naloxone availability. Laws have
been passed to widen access to naloxone without prescription.
Economic: Rising healthcare costs of opioid dependence treatment and fatal
overdoses are driving demand for low-cost naloxone formulations. Growing
expenditure on substance abuse treatment also supports market growth.
Social: Increasing social acceptance and support for naloxone access is
encouraging its adoption. Heightened awareness about reversing opioid overdose
is positively impacting the market.
Technological: Players are engaged in developing advanced drug delivery
technologies like auto-injectors and microneedle patches for naloxone to
provide fast, easy and reliable administration in emergency situations.
Key Takeaways
The Global
Naloxone Market Demand is expected to witness high growth over the
forecast period of 2023 to 2030. The global naloxone market is estimated to be
valued at US$ 1234.6 million in 2024 and is expected to exhibit a CAGR of 4.7%
over the forecast period 2024 to 2031.
Regional analysis comprises
North America has continued to witness tremendous growth in prescribing and
dispensing of naloxone over the past few years. Countries like the US have
enacted laws permitting community members and first responders unrestricted
naloxone access and administration without prescription. This has significantly
expanded access to opioid overdose reversal therapy in this region.
Key players related content comprises
Key players operating in the Naloxone market are Beiersdorf AG, Procter &
Gamble, Unilever, Bioderma Laboratories, Clarins Group, Dermalume Skincare,
Johnson & Johnson Inc., Estee Lauder Inc., Miranda Kerr Pty Ltd (Kora
Organics), Jurlique International Pty Ltd, and Narcan.
For more insights, Read- https://www.ukwebwire.com/naloxone-market-growth-demand-and-overview/
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