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Naloxone Spray Global Market Report 2023
Major players in the naloxone spray market are Emergent BioSolutions, Pfizer, Teva Pharmaceutical Industries Ltd., Opiant Pharmaceuticals, Hikma Pharmaceuticals, Nasus Pharma, Amphastar Pharmaceuticals, Indivior PLC, Samarth Pharma Pvt.
New York, March 31, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Naloxone Spray Global Market Report 2023" - https://www.reportlinker.com/p06241914/?utm_source=GNW
Ltd., Troikaa Pharmaceuticals Ltd., and Neon Laboratories Limited.
The global naloxone spray market grew from $433.66 million in 2022 to $531.58 million in 2023 at a compound annual growth rate (CAGR) of 22.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The naloxone spray market is expected to grow to $1221.6 million in 2027 at a CAGR of 23.1%.
The naloxone spray market consists of sales of injectable and prepackaged nasal spray.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Naloxone spray refers to a substance that binds to opioid receptors and inhibits or reverses the actions of other opioids.Giving naloxone quickly undoes the effects of opioid medications, returning breathing to normal.
It may be given intravenously or through nasal spray. Naloxone comes as a solution (liquid) to spray into the nose and each naloxone nasal spray contains a single dose of naloxone and should be used only once.
North America was the largest region in the naloxone spray market in 2022. The regions covered in the naloxone spray report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of dosages involved in the naloxone spray include 2 mg/actuation and 4 mg actuation. 2 mg/actuation sprays naloxone is equivalent to 1.8 mg naloxone and is used for emergency medication of known or suspected opioid overdose, as demonstrated by respiratory and/or central nervous system depression. The 2mg dose is licensed for use in opioid-dependent individuals who are at risk of severe opioid withdrawal and who live in an environment with a low risk of accidental or purposeful opioid exposure by household contacts. Naloxone sprays are available in various distribution channels such as hospitals, clinics, retail pharmacies, online pharmacies, others.
The increasing prevalence of opioid overdoses is contributing to the growth of the naloxone spray market.Opioids include medicines such as morphine, fentanyl, and tramadol and are used for the treatment of pain.
However, due to their pharmacological effects, their non-medical use, prolonged use, misuse, and use without medical supervision can lead to opioid dependence, cause breathing difficulties, or even lead to death or other health problems. For instance, in February 2021, according to a report published by the Centers for Disease Control and Prevention (CDC), opioids were involved in 49,860 overdose deaths (or 70.6% of all drug overdose deaths). According to the WHO, as of 2020, more than 70% of deaths are related to opioids, and of these, 30% of deaths are caused by overdose. As a part of emergency medical treatment, naloxone nasal spray is used to reverse the life-threatening effects of an opiate or opioid overdose. Therefore, the increasing prevalence of opioid overdoses drives the growth of the naloxone spray market.
The increase in product approvals is shaping the naloxone spray market.Major companies manufacturing naloxone sprays are focused on new product approvals to broaden their product portfolios and expand their naloxone spray business.
For instance, in April 2021, the US Food and Drug Administration (FDA) approved Hikma Pharmaceuticals KLOXXADOTM (naloxone hydrochloride) nasal spray 8mg, for the immediate treatment of recognized or suspected opioid overdose, as manifested by respiratory and/or central nervous system depression, in adult and pediatric patients. KLOXXADOTM provides an important new treatment to address the opioid epidemic and contains twice as much naloxone per spray as Narcan Nasal Spray 4mg in a ready-to-use nasal spray to reverse the effects of opioid overdose.
In March 2021, Aptar Pharma, a US-based pharmaceutical company, announced a collaboration with DNE Pharma, a Norway based pharmaceutical company, to develop addiction medicines. Through this collaboration with Ford Pharma’s Ventizolve® nasal naloxone, both businesses are offering training programs and their knowledge of nasal drug delivery treatment for an overdose of opioids to increase patient access and address the opioid epidemic.
The countries covered in the naloxone spray market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The naloxone spray market research report is one of a series of new reports that provides naloxone spray market statistics, including naloxone spray industry global market size, regional shares, competitors with a naloxone spray market share, detailed naloxone spray market segments, market trends and opportunities, and any further data you may need to thrive in the naloxone spray industry. This naloxone spray market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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