The naloxone spray market is projected to grow at a rate of 22.8% in terms of value, from 2020 to reach USD 1.41 Billion by 2030. 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 2020, Pfizer, a major pharmaceutical company, launched a generic nasal spray of naloxone which is expected to significantly fuel market demand.
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Additionally, with an increase in the prevalence of opioid overdoses, several 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.
Key Coverage of the Report
- Region and country wise statistics of naloxone spray from the period 2022-2030. While 2016 & 2017 has been utilized as historical data, 2020 is considered the base year. 2020-2030 have been derived as forecasts.
- Estimation of market size along with historic and forecasted trend analysis.
- Various dosages of the nasal spray have been analyzed. Statistical analysis has been conducted on obtaining the individual share of these segments.
- Healthcare Regulatory framework of each region.
- Regional up-coming opioid overdose outlook.
- Status of on-going clinical trials and developments.
- Regional prevalence of naloxone spray has been mapped.
- Regional Competitors Pricing Strategy
- Demand and Supply GAP Analysis
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments.
Salient Trends of the Naloxone Spray Market
- Naloxone spray market is expected to grow at a rate of 22.8% in terms of value and reach USD 1.41 Billion in 2030.
- Narcan nasal spray of naloxone got the FDA approval in November 2015. In 17 of the 50 US states, the spray may be availed without the need for a prescription.
- In January 2017, the U.S. Food and Drug Administration (FDA) gave their approval to NARCAN Nasal Spray 2 mg formulation by Adapt Pharma Inc. for emergency treatment of opioid overdose.
- Since 2015, the nasal spray is available at a discounted price of USD 37.50 per dose for government agencies, non-profits organizations, school districts, and institutes of higher education through the US Communities Cooperative Purchasing Program.
- According to a report by the U.S. Department of Health and Human Services in 2016, approximately 11.5 million people misused prescription drugs, and about 948,000 people used heroin.
- The U.S. opioid overdose occurrences increased by about 30% from July 2016 to September 2017 in 52 areas in 45 states.
- In 2020, Emergent BioSolutions bought Adapt Pharma by paying USD 635.0 million upfront and up to USD 100.0 million for potential sales-based milestones through 2022.
Companies considered and profiled in this market study
Emergent BioSolutions, Pfizer, and Teva Pharmaceuticals Industries Ltd.
- The valuation for Naloxone Spray market was USD 273.2 Million in 2020, and it is expected to reach USD 1.41 Billion by 2030.
- After hospitals, clinics are estimated to dominate the market and would witness a growth rate of 22.7% in the forecast period.
- The Asia Pacific market for naloxone spray is estimated to grow at the highest rate of 25.2% in the forecast period.
- The naloxone spray market in Europe is likely to experience significant growth in the forecast period due to increasing approvals of new products in the region. It is expected that there are around 1.3 million high-risk opioid users in Europe. In February 2017, Adapt Pharma filed a marketing application for its product Naloxone Hydrochloride (HCl) nasal spray in Europe.
- The U.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. Furthermore, the country is experiencing a state of epidemic owing to an increase in the number of deaths by 21% in 2016. The U.S. Federal Government has classified this opioid crisis as Public Health Emergency in 2017 which is expected to propel the market growth in the future.
- In April 2020, 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.
- 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.
Segments covered in the report:
This report forecasts revenue growth at a global, regional & country level, and provides an analysis on the industry trends in each of the sub-segments from 2022 to 2030. For the purpose of this study, Reports and Data have segmented the global Naloxone Spray market on the basis of dosage, distribution channel, and region:
Dosage Outlook (Revenue, USD Million; 2022-2030)
- 2 mg/actuation
- 4 mg/actuation
Distribution Channel Outlook (Revenue, USD Million; 2022-2030)
- Retail Pharmacies
- Online Pharmacies
Regional Outlook (Revenue, USD Million; 2022-2030)
- North America
- Asia Pacific
- Latin America
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