Naloxone Spray Market Growth, Industry Analysis Global and Regional Market Forecast to 2028
Increasing prevalence of opioid overdose is the most significant factor estimated to stimulate market demand.
The global Naloxone Spray Market is expected to reach USD 1.41 Billion by 2028, according to a new report by Reports and Data. Naloxone Nasal Spray is used for treating an opioid emergency or a likely opioid overdose with symptoms such as breathing problems and severe sleepiness or inability to respond.
Naloxone Nasal Spray is used to reverse the effects of opioid medicines for a temporary period. The medicine in this nasal Spray does not affect people who are not exposed to opioid medications. It is necessary to provide emergency medical help to the patient after giving the first dose of the nasal spray. According to the Centers for Disease Control and Prevention, approximately 400,000 people died as a result of an opioid overdose in the period 1999 to 2017. Also, on average, over 130 people in America die every day owing to overdoses involving opioids, a class of drugs that comprise prescription medications like oxycodone, fentanyl, morphine, and hydrocodone, along with illegal drugs including heroin or drugs sold as heroin.
Increase in launches and approval of new naloxone spray products is anticipated to be a significant driver boosting the growth of the market in the upcoming years. For instance, in April 2019, Pfizer, a major pharmaceutical company, launched a generic nasal spray of naloxone which is expected to significantly fuel market demand.
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The report provides comprehensive assessment of the market covering key elements such as revenue estimations, cost analysis, import/export, production and consumption trends, CAGR, gross margin, and supply & demand patterns. It also sheds light on recent technological developments, product advancements, and research and development activities in the region.
The report examines the key players operating in the market along with their market position, market share, revenue, gross margin, and business strategies. SWOT analysis and Porter’s Five Forces Analysis are used to examine and assess the market and its players. It also covers recent mergers and acquisitions, joint ventures, collaborations, agreements, partnerships, and product launches and brand promotions.
Key companies profiled in the report include:
Emergent BioSolutions, Pfizer, and Teva Pharmaceuticals Industries Ltd.
Market Segmentation by Types:
Dosage Outlook (Revenue, USD Million; 2020-2028)
- 2 mg/actuation
- 4 mg/actuation
Distribution Channel Outlook (Revenue, USD Million; 2020-2028)
- Retail Pharmacies
- Online Pharmacies
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Regional analysis covers in-depth analysis of analysis of the revenue, market share, and growth rate of the global Naloxone Spray market in each region for the forecast period of 2021-2028. The report covers production and consumption rate, current and emerging trends, import/export, supply and demand, and presence of key players in each region.
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
Further key findings from the report suggest
- On the basis of dosage, the 4 mg/actuation is expected to witness significant growth rate in the forecast period.
- Hospitals dominated the market in 2020 and are estimated to grow at a rate of 22.5% in the forecast period.
- In terms of geography, North America held the largest share in the global naloxone market owing to growing opioid crises in the region. The S. is the dominant market in North America with high incidences of opioid overdose and increasing prevalence of victims with dependency on opioid and morphine.
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