New Jersey, NJ, July 15, 2019 (GLOBE NEWSWIRE) -- Fior Markets launched a study titled "Naloxone Spray Market by Dosage (2 mg/actuation, 4 mg/actuation), Distribution Channel, Regions, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2019 to 2026". As per the report, the global naloxone spray market is expected to grow from USD 181.16 Million in 2018 to USD 943.62 Million by 2026, at a CAGR of 22.91% during the forecast period 2019-2026. Growing prevalence of opioid overdoses is driving the global naloxone spray market.
Naloxone is a medication which is mainly used to treat the opioid overdose such as morphine and heroine. It is a non-scheduled prescription drug to counteract depression of central nervous system and respiratory during an overdose, normalizing the victim. Naloxone nasal spray is rapidly emerging as an alternative to the intravenous administration due to its ease of use as it can be administrated by anyone in case of emergency. Increasing cases of opioid overdose are projected to increase demand for naloxone products during emergency treatments which in turn will positively drive the global naloxone spray market growth over the forecast period.
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Global Naloxone Spray Market Key Findings:
- Dynamics driving the growth of the market include increasing prevalence of opioid overdose, global rise in the drug epidemic as well as favourable regulatory support for limiting the opioids over dosage. However, the high cost associated with the naloxone spray, stringent regulatory approval process and detrimental side effects of the naloxone are expected to restrain the market growth over the forecast period.
- Nevertheless, potential USFDA approval of an over-the-counter naloxone spray product and favourable reimbursement scenario is expected to open new opportunities for the market growth in the upcoming years.
- The dosage segment is divided into 2 mg/actuation and 4 mg/actuation. Due to the increasing prevalence of opioid drug overdose, the 4 mg/actuation segment emerged as the leader in the global naloxone spray market with value around USD 123.04 million revenue in 2018. The dosage should be given in the limited mg as the over dosage may cause the damage to the central nervous system or even death. The contents of the dosage differ for the adults and pediatric patients. However, in case of the emergency medical assistance the 2 mg/actuation is provided till the actual treatment of the pain is started.
- The distribution channel segment contains hospitals, clinics, retail pharmacies, online pharmacies, and others. The hospitals are the first point of call in case of any drug overdose related emergencies. As a result, the hospital segment is projected to grow at an accelerated CAGR of 25.16% over the forecast period. The hospitals with emergency departments and urgent care centers has increased the use of the naloxone spray due to the ease of availability.
- The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. The North America region held the highest market size around USD 95.58 million revenue in 2018 and is anticipated to maintain its dominance even during the forecast period.
- On account of registering the highest number of opioid overdose incidences as well as presence of well-developed medical emergency response infrastructure and favourable regulatory environment, the North America region dominated the global naloxone spray market in 2018.
- The Europe region accounted for a significant share in global naloxone market owing to the rising prevalence of opioid drug overdose related cases in the region.
- For instance, in 2018, Emergent BioSolutions acquired Adapt Pharma in USD 735 Million. This acquisition added Adapt’s Narcan (Naloxone HCl) Nasal Spray, the only nasal form of naloxone for emergency treatment of known or suspected opioid overdose approved by the U.S. Food and Drug Administration (FDA).
- In January 2017, the U.S. Food and Drug Administration (FDA) approved Adapt Pharma’s first generic naloxone nasal spray product named NARCAN Nasal Spray 2 mg formulation. This product was developed to be used for emergency cure of opioid overdose.
- Key players in the global naloxone spray market are Emergent BioSolutions, Pfizer, and Teva Pharmaceuticals Industries Ltd
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All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment.
This study forecasts revenue and volume growth at global, regional, and country levels from 2016 to 2026. Fior Markets has segmented the global naloxone spray market on the basis of below-mentioned segments:
Global Naloxone Spray Market by Dosage:
- 2 mg/actuation
- 4 mg/actuation
Global Naloxone Spray Market by Distribution Channel:
- Hospitals
- Clinics
- Retail Pharmacies
- Online Pharmacies
- Others
Global Naloxone Spray Market by Region:
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Asia-Pacific
- Japan
- China
- India
- South America
- Brazil
- Middle East and Africa
- UAE
- South Africa
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