by Naloxone is a medication used to block the effects of opioids, especially in overdose. It reverses an opioid overdose by competing with opioids for opioid receptor sites in the brain and respiratory depression leads to breathing difficulties or collapse and death. Growing usage of opioids for medical purposes and drug abuse has resulted in rising overdose cases. Naloxone is being administered to emergency services, first responders, law enforcement officers, and families and friends of people who take opioids to tackle overdoses in emergency situations.
The global naloxone market is estimated to be valued at US$ 1234.6 million in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
High Adoption from First Responders Provides Market Opportunity
The introduction of Government initiatives and programs to proliferate the use of naloxone among first responders, emergency medical technicians, law enforcement officials and family/friends of opioid users is driving the demand for naloxone. Growing cases of opioid overdoses have necessitated the need to increase public access to naloxone. The “Stop Overdose” campaign by the US Government aims to provide naloxone training as well as kits to groups like first responders who witness opioid overdoses. Such campaigns promote widespread availability and administration of naloxone during emergencies. They act as a major driver for the naloxone market. With opioid abuse continuing to rise, demand for naloxone is expected to increase significantly from first responders and community members trained in naloxone administration. This wide adoption base provides immense opportunity for players in the naloxone market.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the naloxone market requires extensive R&D investments and obtaining regulatory approvals. However, the growing demand for generic naloxone provides opportunities for new companies.
Bargaining power of buyers: The bargaining power of buyers is high as naloxone is a life-saving drug. Buyers can negotiate on price and demand product differentiation. Public agencies are major buyers and buy in bulk.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. Key active pharmaceutical ingredient suppliers possess proprietary know-how but alternate suppliers are available.
Threat of new substitutes: Threat of substitutes is low as naloxone is currently the gold standard for opioid overdose.
Competitive rivalry: Competitive rivalry is high among existing players due to increasing generic competition.
SWOT Analysis
Strengths: Growing addiction epidemic and rising overdose cases drive the market. Naloxone is easy to administer and saves lives.
Weaknesses: Limited long-term treatment. Side effects associated with high doses of naloxone.
Opportunities: Scope for therapeutically differentiated products like long-acting formulations. Emerging markets like Asia-Pacific provide growth opportunities.
Threats: Entry of generic competition further intensifies price erosion. Reimbursement pressures pose challenges.
Key Takeaways
The Global Naloxone Market Demand is expected to witness high growth during the forecast period of 2023-2030 owing to the increasing prevalence of opioid addiction across regions. The global naloxone market is estimated to be valued at US$ 1234.6 Mn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030.
The Asia Pacific region is projected to grow at the fastest pace North America currently dominates the naloxone market owing to early product approvals, favorable reimbursements, and the presence of major players. However, Asia Pacific is estimated to grow at the fastest pace during the forecast period with a CAGR of over 7%. Factors such as large patient population, increasing government support, and growing awareness about opioid overdose treatment are expected to drive the market.
Key players related content: Key players operating in the naloxone market are Beiersdorf AG, 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.
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Source: Coherent Market Insights, Public sources, Desk research
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