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 928.1 Million by 2026, 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.
Additionally, with an increase in the prevalence of opioid overdoses, several of efforts are being taken to make this emergency overdose reversal medication more readily available and accessible to the people who may require it. The FDA has also taken the unprecedented step of assisting manufacturers to pursue approval of an over-the-counter naloxone spray product and is exploring other ways to increase the availability of naloxone products intended for use in the community. As naloxone is a fairly new product, the high cost associated with this product coupled with the serious side-effects may create hindrances in the market growth.
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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 2018 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.
- Key participants include Emergent BioSolutions, Pfizer, and Teva Pharmaceuticals Industries Ltd.
- In April 2019, the U.S. Food and Drug Administration on Friday said it gave approval to Teva Pharmaceutical Industries Ltd. to market generic naloxone nasal spray to treat opioid overdoses.
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For the purpose of this report, Reports and Data have segmented global Naloxone Spray market on the basis of dosage, distribution channel, and region:
Dosage Outlook (Revenue, USD Million; 2016-2026)
- 2 mg/actuation
- 4 mg/actuation
Distribution Channel Outlook (Revenue, USD Million; 2016-2026)
- Retail Pharmacies
- Online Pharmacies
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Regional Outlook (Revenue, USD Million; 2016-2026)
- North America
- Asia Pacific
- Latin America
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