Telehealth is fastest growing segment fueling the growth of naloxone market

The global naloxone market is estimated to be valued at US$ 1234.6 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period from 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Naloxone is an opioid antagonist used to reverse opioid overdoses. It works by blocking opioid receptors in the brain to reverse and prevent fatal effects of opioid overdose such as extreme drowsiness, slowed breathing, or loss of consciousness. Naloxone’s high safety profile and ease of administration makes it an important tool in combating the opioid overdose crisis.

Market key trends:

One of the major market trends is the increasing availability of naloxone via telehealth services. Telehealth enables remote diagnosis, treatment, and consultations through virtual means like video and mobile health applications. With the COVID-19 pandemic increasing demand for telemedicine across various therapeutic areas including harm reduction services such as naloxone distribution, key players in the naloxone market are focusing on providing naloxone prescription and delivery via telehealth platforms. This allows easier access to naloxone, especially in underserved areas, thereby supporting overdose prevention efforts. Partnerships between naloxone manufacturers and telehealth service providers are expected to drive the demand for naloxone kits and bolster market growth over the forecast period.

Segment Analysis

The global Naloxone Market Size is segmented based on type, route of administration, distribution channel, and geography. By type, the market is bifurcated into branded naloxone and generic naloxone. The generic naloxone segment currently dominates the market due to lower prices compared to branded drugs. By route of administration, the market is categorized into intramuscular, intravenous, nasal spray, and auto-injectors. The nasal spray segment holds the largest market share due to ease of self-administration as compared to other routes of administration. By distribution channel, the market is divided into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment is predicted to grow the fastest during the forecast period due to increasing cases of opioid overdose treated in hospitals.

Key Takeaways

The global naloxone market is expected to witness high growth, exhibiting a CAGR of 10% over the forecast period, due to increasing prevalence of opioid overdose globally.

Regional analysis – North America currently dominates the global naloxone market due to high incidence of opioid abuse cases in the US. However, Asia Pacific region is expected to grow at the fastest pace due to rising healthcare spending and growing awareness regarding opioid overdose in developing countries of the region.

Key players – Key players operating in the naloxone market are Viatris Inc., Opiant Pharmaceuticals, Akorn Operating Company LLC, Pfizer, Inc., Novartis AG, Indivior Plc., Emergent BioSolutions Inc., Amphastar Pharmaceuticals, Inc., Kern Pharma, S.L., Hikma Pharmaceuticals PLC, Mundipharma International Limited, and Kaleo, Inc. Viatris Inc., Pfizer Inc. and Emergent BioSolutions hold a significant share in the global market.

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