Acumen Research and Consulting recently published report titled “Naloxone Market Forecast, 2023 – 2032”
LOS ANGELES, Sept. 27, 2023 (GLOBE NEWSWIRE) — The Naloxone Market is spearheading efforts to combat the opioid epidemic by providing advanced solutions for reversing opioid overdoses.
The Naloxone Market is a pivotal component of the pharmaceutical Market, concentrating on the creation, manufacturing, and supply of naloxone, a drug formulated to promptly counteract opioid overdose. This Market is undergoing considerable expansion owing to the escalating occurrences of opioid overdoses, enhancements in naloxone compositions, and increased consciousness and availability of this vital remedy. The future of the Market appears optimistic with ongoing advancements in naloxone compositions and the rising awareness and acceptance of this crucial medication. The prevailing movements towards local distribution, damage reduction, and addiction recovery are poised to influence Market dynamics, providing abundant opportunities for progression and innovation in the forthcoming years.
Naloxone Market Principal Highlights and Crucial Data:
In 2022, the naloxone market in North America was valued at around USD 665.1 million.The naloxone market in Asia-Pacific is anticipated to experience substantial growth, with a projected CAGR of over 11% from 2023 to 2032.In terms of strengths, the sub-segments 2.0 mg/0.1 ml and 4.0 mg/ml contributed to revenue exceeding USD 574 million in 2022.Regarding distribution channels, the hospital pharmacies sub-segment held a significant share, surpassing 40% in 2022.
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Naloxone Market Report Coverage:
MarketNaloxone MarketNaloxone Market Size 2022USD 1,127.3 MillionNaloxone Market Forecast 2032USD 3,036.8 MillionNaloxone Market CAGR During 2023 – 203210.5% Analysis Period2020 – 2032Base Year2022 Forecast Data2023 – 2032Segments CoveredBy Strength, By Route of Administration, By Distribution Channel, And By GeographyNaloxone Market Regional ScopeNorth America, Europe, Asia Pacific, Latin America, and Middle East & AfricaKey Companies ProfiledAkorn Operating Company LLC, Amphastar Pharmaceuticals, Inc., Emergent BioSolutions Inc., Hikma Pharmaceuticals PLC, Indivior Plc., Kaleo, Inc., Kern Pharma, S.L., Mundipharma International Limited, Novartis AG, Opiant Pharmaceuticals, Pfizer, Inc., and Viatris Inc.Report Coverage
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis
Naloxone Market Synopsis and Scrutiny:
The Naloxone Market is distinguished by its commitment to crafting dependable and effective solutions for reversing opioid overdoses. Continuous innovations are being made to improve the affordability, accessibility, and user-friendliness of naloxone remedies. Nonetheless, obstacles like pricing disputes, regulatory impediments, and the stigma linked to naloxone utilization may hinder Market progression.
Recent Market Trends and Breakthroughs:
Formulation of intranasal naloxone for swift and non-intrusive delivery.Establishment of local naloxone distribution initiatives to augment availability.Launch of naloxone auto-injector devices for uncomplicated and rapid administration.Enhancements in campaigns to raise public awareness regarding the significance of naloxone in opioid overdose scenarios.Ongoing studies focusing on refining naloxone dosages and delivery for optimal life-saving capabilities.
Primary Growth Propellants of the Naloxone Market:
Surge in opioid overdoses and the continuing opioid crisis.Elevated recognition and acknowledgment of naloxone as an essential life-preserving remedy.Technological progress leading to the formulation of innovative and user-friendly naloxone remedies.Increasing governmental and organizational endeavors to tackle the opioid crisis and boost naloxone availability.Broadening of damage control strategies and intensified emphasis on addiction therapy and recuperation.
Main Obstacles Encountered by the Naloxone Market:
Costly pricing and accessibility concerns pertaining to naloxone remedies.Prejudice and misunderstandings about naloxone utilization and opioid dependency.Regulatory intricacies and sanctioning procedures for naloxone formulations and supply.Expansion of extensive naloxone supply chains and assurance of availability in high-risk regions.Guaranteeing the reliability, safety, and effectiveness of naloxone remedies in varied environments.
Naloxone Market Segmentation Insights:
As per Naloxone Strengths
0.4 mg/ml1 mg/ml2.0 mg/0.1 ml and 4.0 mg/mlOther
As per Route of Administrations
Intramuscular/SubcutaneousIntranasalIntravenous
As per Distribution Channels
Retail Pharmacy channelsClinics Pharmacy channelsHospitals Pharmacy channelsOther
Geographical Synopsis of the Naloxone Market:
North America, grappling with an acute opioid crisis, emerges as a major market for naloxone. Europe is also a significant market, attributed to the growing awareness and utilization of naloxone for reversing opioid overdoses. The Asia-Pacific region is anticipated to experience considerable growth due to the rising instances of opioid abuse and increasing awareness of naloxone in developing nations.
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Roster of Leading Entities in the Naloxone Market:
Kaleo, Inc., Pfizer Inc., ADAPT Pharma, Inc., Amphastar Pharmaceuticals, Inc., UCB S.A., Hikma Pharmaceuticals PLC, Mylan N.V., Emergent BioSolutions Inc., Sandoz Inc. (Novartis AG), Indivior PLC, Dr. Reddy’s Laboratories Ltd., Sanofi S.A., Mundipharma International Limited, Opiant Pharmaceuticals, Inc. and Teva Pharmaceutical Industries Ltd.
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