April 18, 2024

Naloxone Market Is Witnessing Steady Growth Driven By Rising Opioid Overdoses

The naloxone market has been witnessing steady expansion over the past few years mainly driven by the growing incidence of opioid overdoses across countries. Naloxone is an essential medication for preventing opioid overdose deaths which is the major factors driving its demand. Naloxone is an opioid antagonist used for the complete or partial reversal of opioid depression. It competitively binds to opioid receptors and reverses respiratory depression caused by other opioids. The growing abuse of prescription opioids and rise in synthetic opioid overdoses have increased the need for efficient opioid overdose reversal medications like naloxone.

The global naloxone market is estimated to be valued at US$ 1422.26 Mn in 2024 and is expected to exhibit a CAGR of 4.7% over the forecast period 2024 to 2031.

Key Takeaways

Key players – Key players operating in the naloxone market are Beiersdorf AG, L’OrĂ©al SA, Procter & Gamble, Unilever, Bioderma Laboratories, Clarins Group, Dermalume Skincare, Johnson & Johnson Inc., Estee Lauder Inc., Miranda Kerr Pty Ltd (Kora Organics), Jurlique International Pty Ltd, and Natio. These players are focusing on new product development and launches to strengthen their market position.

Growing demand – There is growing demand for naloxone across both developed and developing countries due to rising awareness about opioid overdose. Various government initiatives for expanding access to naloxone are also supporting the market growth.

Global expansion – Major players in the market are expanding their business globally by entering into strategic collaborations with regional companies. They are also focusing on capacity expansion activities to meet the global demand for naloxone products.

Market key trends

One of the key trends gaining traction in the naloxone market size is the increasing production of generic and affordable nasal spray formulations of naloxone. Various pharmaceutical companies are focusing on developing affordable nasal spray devices for administering intranasal naloxone to cater to developing regions with limited resources. These player-friendly nasal spray devices are helping enable laypeople and family members to respond to opioid overdoses. This is expected to significantly drive the adoption of intranasal naloxone globally over the forecast period.

Porter’s Analysis

Threat of new entrants: New entrants face high capital requirements for R&D and manufacturing.

Bargaining power of buyers: Large buyers have more bargaining power compared to smaller ones due to bulk purchasing.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitute raw materials.

Threat of new substitutes: Low threat as Naloxone has few drug substitutes approved for opioid overdose.

Competitive rivalry: Intense competition exists between major players to capture more market share.

The United States accounts for the major share in terms of value as Naloxone has seen increased adoption for reversing opioid overdose. The emergency medical services and hospitals are majorly stocking Naloxone for addressing the opioid crisis in the country.

China is expected to witness the highest growth during the forecast period. Increasing economic standards and growing access to healthcare are contributing to the market growth. Initiatives by government and non-profit organizations to spread awareness about overdose prevention measures including wider availability of Naloxone are boosting the market in China.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it