by 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 Overview:
Naloxone is an opioid antagonist used for the complete or partial reversal of opioid overdose, including respiratory depression. It works by overcoming the effects of opioids and restoring normal breathing. Opioid addiction is a major issue globally with increased prescription of opioid pain medicines. Naloxone is used intramuscularly or intravenously to treat opioid overdose emergencies. It comes in various forms such as injection, nasal spray, and auto-injectors. The ease of use and availability has boosted popularity of naloxone products.
Market key trends:
The global Naloxone Market Size is witnessing increasing acceptance of biosimilars. Biosimilars offer significant cost savings compared to branded drugs without compromising on quality and safety. Major pharmaceutical companies are focused on development of naloxone biosimilars which is expected to increase treatment accessibility and affordability. For instance, in 2021, Viatris Inc. launched a biosimilar of branded naloxone injection to expand treatment access. Another key trend is increased availability of over-the-counter naloxone products without prescription. This enables faster access to treatment during emergencies and reduces dependency on healthcare infrastructure. Peer-based training programs have further promoted distribution of naloxone within communities at risk of opioid overdose.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate due to the high manufacturing and distribution costs involved in the naloxone market. However, easy availability of raw materials and emergence of many small players in the market pose a threat.
Bargaining power of buyers: The bargaining power of buyers is moderate as the market has the presence of many buyers. However, demand for naloxone drugs is inelastic.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many suppliers of active pharmaceutical ingredients and excipients present in the market.
Threat of new substitutes: There is no significant threat from substitutes owing to lack of substitutes for naloxone in opioid overdose management.
Competitive rivalry: The naloxone market has the presence of many global as well as regional players giving high competitive rivalry.
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.
Regional analysis
North America is currently dominating the naloxone market owing to increasing cases of opioid abuse and high adoption of naloxone. The Asia Pacific region is projected to witness the fastest growth due to growing awareness and improvement in healthcare infrastructure.
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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
