by The U.S. Naloxone Market is estimated to be valued at US$ 1532.55 Mn in 2023 and is expected to exhibit a CAGR of 10 % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Naloxone is an opioid antagonist used for reversing the effects of opioid overdoses such as respiratory depression, sedation, and hypotension. It comes in injectable and nasal spray forms. Naloxone works by competing for the same opioid receptors in the brain without activating them, which can rapidly reverse an overdose. As opioid overdose and abuse rates continue to rise in the U.S., demand for naloxone has increased significantly.
Market key trends:
The U.S. Naloxone Market is driven by the increasing rates of opioid overdose and abuse. According to the CDC, over 93,000 people died from drug overdoses in 2020 alone, with majority being due to synthetic opioids like fentanyl. The rising accessibility and availability of cheap synthetic opioids has worsened the crisis. In response, many states have enacted Good Samaritan laws that provide legal protection for reporting overdoses and standing orders for naloxone access without prescription. This has normalized the use of naloxone among opioid users and their friends/family. Additionally, several state and local programs provide free naloxone kits to prevent overdose deaths. Efforts to raise awareness and educate first responders/community members in use of naloxone have also boosted market demand.
Porter’s Analysis
Threat of new entrants: Low barrier to entry in the market as manufacturing Naloxone does not require high level of technical expertise. However, established presence of large players make market penetration difficult for new entrants.
Bargaining power of buyers: Moderate bargaining power due to presence of several product alternatives. However, increasing awareness about opioid overdose treatment elevates buyer importance.
Bargaining power of suppliers: Suppliers have moderate power due to differentiated ingredients and technical know-how required. However, availability of substitutes maintains price competition.
Threat of new substitutes: Low risk as alternative emergency treatments for opioid overdose are limited. Naloxone nasal spray is considered gold standard for quick reversal of opioid overdose.
Competitive rivalry: High due to presence of large global players and frequent new product launches. Companies compete on pricing, delivery formats and marketing initiatives to gain market share.
SWOT Analysis
Strength: High demand for opioid overdose treatment due to rise in prescription drug abuse. Intranasal naloxone spray ensures easy, non-invasive administration during emergency.
Weakness: Limited patient acceptability of intramuscular naloxone injection format. Heavy pricing pressure and commercialization challenges for biosimilars.
Opportunity: Growing government support through CDC programs to expand public access. Increased scope in developing countries with illicit drug usage.
Threats: Patent expirations of branded products allowable generic competition. Rising healthcare cost concerns may prioritize cheaper alternatives.
Key Takeaways
Global U.S. Naloxone Market Size is expected to witness high growth at a CAGR of 10% over the forecast period due to increasing opioid prescription abuse and rising overdose deaths in the country. The availability of patented naloxone auto-injector and user-friendly nasal spray formats are further supporting the market growth.
Regionally, North America dominates the U.S. naloxone market owing to large technological advancements and abundance of abuse treatments. The region holds over 90% of the total market share led by the U.S.. However, Asia Pacific is expected to be the fastest growing market due to increasing availability of affordable generics in countries like India, China, and Australia with focus on prevention programs.
Key players operating in the U.S. naloxone market are Mylan N.V., Novartis AG, Indivior Plc., ADAPT Pharma, Inc., Amphastar Pharmaceuticals, Inc., INSYS Therapeutics, Inc., Mundipharma International Limited, Kaleo, Inc., Â Kern Pharma, S.L., Samarth Life Sciences Pvt. Ltd., Opiant Pharmaceuticals, Pfizer, Sandoz, and Amneal Pharmaceuticals
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
