Naloxone Market
Number of pages: 100 | Report Format: PDF | Published date: April 17, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 1.15 billion |
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Market Size Value in 2031 |
US$ 2.75 billion |
|
CAGR |
10.2% |
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Base Year For Estimation |
2022 |
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Forecast Period |
2023 to 2031 |
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Historical Year |
2021 |
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Segments Covered |
Application, Route of Administration, Distribution Channel, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global naloxone market was valued at US$ 1.15 billion in 2022 and is expected to register a revenue CAGR of 10.2% to reach US$ 2.75 billion by 2031.
Naloxone Market Fundamentals
Naloxone is a medication used to reverse the effects of an opioid overdose. The mechanism of action of naloxone is to bind with the same receptors in the brain that opioids bind to, but without producing the same effects. This displacement of opioids from the receptors can quickly reverse the effects of an opioid overdose, including respiratory depression, the primary cause of overdose deaths. Naloxone can be administered in several ways, including injection, nasal spray, and auto-injector. It is a safe and effective medication that anyone can use, even without medical training.
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Naloxone Market Dynamics
Opioid consumption is a major driver of the naloxone market revenue, with the rising number of overdose deaths highlighting the need for effective interventions to reverse opioid overdose. There has been increasing awareness among healthcare providers, policymakers, and the general public about the importance of naloxone in preventing overdose deaths. This has led to increasing efforts to access naloxone through community distribution programs and standing orders that allow pharmacists to dispense naloxone without a prescription. For instance, in March 2023, Heart to Heart First Aid CPR Services Inc. assumed a new function by becoming a training and naloxone distribution center for the Canadian Red Cross’ Opioid Harm Reduction Program. Free naloxone kits and training on handling opioid poisoning will be available to the community through Heart to Heart CPR. Anyone who feels they require the training and naloxone may enroll in the program.
The naloxone industry trend includes developing and approving new dosage formulations of naloxone, such as intranasal naloxone and auto-injector devices. These new formulations offer ease of use and increased accessibility, which may help to increase further the availability of naloxone in communities where opioid use is prevalent. The development of generic versions of naloxone has increased competition and reduced prices, making naloxone more affordable and accessible, thus boosting the naloxone market revenue growth. The development of generic versions of naloxone has increased competition and reduced costs, making naloxone more affordable and accessible. Governments have taken various initiatives to address the opioid epidemic, including funding programs to increase access to naloxone and implementing policies to reduce opioid prescribing.
However, lack of awareness about naloxone, particularly in regions where opioid use is less prevalent, is restricting the naloxone market revenue growth. The stigma surrounding opioid use and addiction can make it difficult for people who use drugs to access naloxone, thus hampering the naloxone market revenue growth.
Naloxone Market Ecosystem
The global naloxone market is analyzed from four perspectives: application, route of administration, distribution channel, and region.
Naloxone Market by Application
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Based on the application, the global naloxone market is segmented into opioid overdose and alcohol overdose.
The opioid overdose segment dominated the naloxone market with the largest revenue share in 2022. Opioid overdose is a significant public health issue worldwide, with a high risk of morbidity and mortality. Opioid consumption has dramatically increased opioid-related deaths, highlighting the need for effective interventions to prevent overdose deaths. Naloxone is the primary treatment for opioid overdose. It is a fast-acting and effective opioid antagonist that can rapidly reverse respiratory depression and other effects of opioids, potentially saving lives and thus propelling segmental revenue growth. Naloxone is generally seen as a vital intervention to stop overdose fatalities. The significance of naloxone in reducing overdose deaths has come to the attention of the general public, governments, and healthcare professionals. As a result, initiatives have been made to enhance naloxone access, such as through standing orders that permit pharmacists to dispense the drug without a prescription and community distribution initiatives.
The alcohol overdose segment is expected to register lucrative revenue growth during the forecast period. Naloxone is an opioid antagonist that can also reverse the effects of alcohol on the brain and central nervous system, which can help to prevent alcohol-related deaths. Alcohol-related deaths, including those from alcohol poisoning, have been increasing in recent years in some regions. This has led to a greater need for interventions, such as naloxone, to prevent these deaths. People using opioids are often also heavy alcohol users, and using both substances can increase the risk of overdose. This may increase demand for naloxone, which can address opioid and alcohol overdoses.
Naloxone Market by Route of Administration
Based on the route of administration, the global naloxone market is segmented into injectable, nasal, and oral.
The nasal route of administrations segment accounted for a significant naloxone market share in 2022. Nasal naloxone is a needle-free formulation that is sprayed into the nostrils. It is a non-invasive method of administration that is easy to use and does not require any specialized training. This makes it a more convenient and less intimidating option for caregivers, first responders, and patients. Nasal naloxone has a rapid onset of action, typically within 2-5 minutes, which is critical in reversing the effects of opioid overdose. This quick onset of action can save lives by rapidly restoring breathing and reversing other opioid-related effects.
Nasal naloxone is safe and effective in reversing opioid overdose, with few reported adverse effects. It is an important tool in harm reduction strategies to prevent overdose deaths. Nasal naloxone has high bioavailability, meaning that a high proportion of the drug reaches the bloodstream and produces the desired effect. This is important in emergencies where a rapid and effective response is necessary. Nasal naloxone is becoming increasingly available, with many states and localities implementing naloxone access programs that include intranasal naloxone. This has helped to increase awareness of the importance of naloxone in preventing overdose deaths and to expand access to this life-saving medication.
The injectable segment accounts for a considerable revenue share of the global naloxone market. Injectable naloxone is commonly used in medical settings, such as hospitals and emergency rooms, where healthcare providers can administer the drug through intravenous, intramuscular, or subcutaneous injection. As the use of naloxone becomes more widespread, particularly in the wake of the opioid epidemic, the demand for injectable naloxone in medical settings is likely to increase. Injectable naloxone is available in higher doses than other formulations of naloxone, which makes it more effective in treating severe cases of opioid overdose. This is particularly important in cases where the individual has a high tolerance to opioids or has taken a large amount of the drug.
Moreover, injectable naloxone has a longer shelf life than other formulations of naloxone, which makes it more convenient for long-term storage and distribution. This is particularly important for healthcare providers who need to keep large quantities of naloxone on hand in case of emergencies. Injectable naloxone can be customized to meet the needs of individual patients, allowing healthcare providers to adjust the dose based on the severity of the overdose and other factors.
Naloxone Market by Distribution Channel
Based on the distribution channel, the global naloxone market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies.
The retail pharmacies segment accounted for a prominent revenue share of the naloxone market. Retail pharmacies are easily accessible and widely available in many countries, making it easy for individuals to obtain naloxone quickly and easily. Many retail pharmacies participate in naloxone access programs, which are designed to increase access to naloxone and reduce the number of opioid overdose deaths. These programs provide free or low-cost naloxone to individuals at risk of opioid overdose, and they often partner with community organizations and healthcare providers to distribute the drug. As the global opioid crisis continues to impact communities, there is an increasing need for naloxone among consumers seeking to safeguard themselves and their families from opioid overdose. To address this demand, retail pharmacies are proactively providing easy access to naloxone for consumers. Retail pharmacies are often staffed by pharmacists trained to provide education and training on the proper use of naloxone.
The online pharmacies segment is expected to register lucrative revenue growth during the forecast period. Online pharmacies offer a more convenient way for people to purchase naloxone, as they can order the medication from their homes. Some traditional brick-and-mortar pharmacies may not carry naloxone or have limited supplies, while online pharmacies offer a wider selection and more consistent availability. Online pharmacies may offer naloxone at lower prices due to reduced overhead costs. For individuals who may feel stigmatized or embarrassed about purchasing naloxone in-person, online pharmacies provide a more discreet option, fueling segmental revenue growth.
Naloxone Market by Region
Based on region, the global naloxone market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounts for the largest naloxone market in terms of revenue. The opioid epidemic in North America has increased demand for naloxone, as it is an effective antidote for opioid overdose. According to the CDC, in 2020, an average of 44 people died daily from prescription opioid overdoses, totaling more than 16,000 deaths. Prescription opioids were involved in nearly 24% of all opioid overdose deaths in 2020, representing a 16% increase from 2019 to 2020. Governments at both the federal and state levels in the United States and Canada have implemented policies and programs to increase access to naloxone, such as standing orders and public funding for naloxone. Public awareness of the opioid epidemic and the importance of naloxone has risen in recent years, leading to greater demand for the medication. Naloxone is becoming more widely available through various channels, including pharmacies, community organizations, and online retailers. Collaboration among stakeholders, including healthcare providers, community organizations, and law enforcement, is helping to increase access to naloxone and improve response to opioid overdoses in the region.
Naloxone Competitive Landscape
The prominent players operating in the global naloxone market with the largest revenue share are:
Naloxone Market Strategic Developments
Naloxone is a medication used to reverse the effects of opioid and alcohol overdose rapidly. Naloxone’s mechanism of action works by binding to the same receptors in the brain that opioids bind to, but without producing the same effects.
The expected size of the global naloxone market in 2031 is US$ 2.75 billion.
The global naloxone market revenue growth is expected at a revenue CAGR of 10.2% during the forecast period.
The prominent players in the global naloxone market are Olympus Viatris Inc., Indivior PLC, Akorn Operating Company LLC, Pfizer, Inc., and Hikma Pharmaceuticals PLC.
North America accounts for a prominent revenue share in the market, and Asia Pacific is likely to grow at the fastest revenue CAGR during the forecast period.
*Insights on financial performance are subject to the availability of information in the public domain