U.S. Naloxone Market, by Drug Type (Branded and Generic), by Route of Administration (Intranasal Administration, Intramuscular Administration, Intravenous Administration, and others), by Distribution Channel (Hospitals Pharmacies, Retail Pharmacies, and Online Pharmacies) is estimated to be valued at US$ 1,390.7 Mn in 2022 and is expected to exhibit a CAGR of 10.2% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
The increasing product approvals from regulatory authorities is expected to drive growth of the U.S. naloxone market over the forecast period. For instance, on August 17, 2020, Emergent BioSolutions Inc., a specialty biopharmaceutical company announced that the U.S. Food and Drug Administration (FDA) has approved NARCAN (naloxone HCl) Nasal Spray's which includes extended shelf life formulation from 24 to 36 months. The U.S. Food and Drug Administration (FDA) and Health Canada approved Narcan Nasal Spray in August 2020, as the first intranasal version of naloxone for the emergency treatment of known or suspected opioid overdose.
U.S. Naloxone Market – Impact of Coronavirus (COVID-19) Pandemic
The coronavirus (COVID-19) pandemic is the most recent outbreak, which was first reported on December 31, 2019 in Wuhan, China. The World Health Organization declared COVID-19 a pandemic on March 11, 2020. According to the Coronavirus Disease (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 2,265,214 cases and 28,945 deaths due to coronavirus disease (COVID-19) were reported up till February 20, 2022 across the U.S.
Furthermore, the increasing incidence of overdose of drug addicted patients in U.S. is expected to drive the U.S. naloxone market. According to recent provisional data published on December 17, 2020 by the Centers for Disease Control and Prevention (CDC) that over 81,000 drug overdose deaths occurred in the U.S. in the till May 2020, the highest number of overdose deaths ever recorded in a 12-month period. . While overdose mortality had been rising in the months leading up to the 2019 new coronavirus disease (COVID-19) pandemic, the current figures imply an increase in overdose patients during the pandemic, which is predicted to increase demand for naloxone to decrease the number of overdose patients.
Browse 39 Market Data Tables and 42 Figures spread through 198 Pages and in-depth TOC on “U.S. Naloxone Market”- Forecast to 2030, U.S. Naloxone Market, by Drug Type (Branded and Generic), by Route of Administration (Intranasal Administration, Intramuscular Administration, Intravenous Administration, and others), by Distribution Channel (Hospitals Pharmacies, Retail Pharmacies, and Online Pharmacies)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/us-naloxone-market-4953
The increasing product approvals by regulatory authorities is expected to drive the U.S. naloxone market over the forecast. For instance, in October 2017, Hikma Pharmaceuticals PLC, a multinational pharmaceutical company, announced the approval of KLOXXADOTM (naloxone hydrochloride) nasal spray 8mg, by the U.S. Food and Drug Administration (FDA) for the emergency treatment of known or suspected opioid overdose, as manifested by respiratory and/or central nervous system depression, for adult and pediatric patients.
Key Takeaways of the U.S. Naloxone Market:
- U.S. naloxone market is expected to exhibit a CAGR of 10.2% during the forecast period, owing to rising awareness by government authorities for preventing drug overdose deaths in the U.S. For instance, on October 27, 2021, the Centers for Disease Control and Prevention (CDC) launched four educational projects aimed towards young adults aged 18 to 34 years old. The campaigns educate people about fentanyl's prevalence and hazards, the perils and repercussions of mixing drugs, the life-saving power of naloxone, and the necessity of decreasing stigma around drug use in order to help people get help and recover. Naloxone is available in all 50 states of the U.S., and it is available at many local pharmacies without a prescription in most states.
- Based on drug type, generic segment is expected to grow with fastest CAGR in the U.S. naloxone market over the forecast period, owing to increasing product launches by the key players. For instance, in March 2020, Dr. Reddy's Laboratories, a pharmaceutical company launched Naloxone Hydrochloride injection USP, 2 mg/2 mL (1 mg/mL) single-dose prefilled syringe after the approval from the U.S. Food and Drug Administration (US FDA).
- Major players operating in the U.S. naloxone market include Mylan N.V., Novartis AG, Indivior Plc., ADAPT Pharma, Inc., Amphastar Pharmaceuticals, Inc., INSYS Therapeutics, Inc., Mundipharma International Limited, Kaleo, Inc., Kern Pharma, S.L., Samarth Life Sciences Pvt. Ltd., Opiant Pharmaceuticals, Pfizer, Sandoz, and Amneal Pharmaceuticals.
