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Naloxone is an opioid antagonist used to counter the effects of opioid overdose. It rapidly reverses the effects of opioids including slowed breathing. This helps reduce risks of death during an overdose involving opioids like heroin, prescription painkillers, and fentanyl. It has gained popularity as a medication that can help prevent opioid overdose deaths. Naloxone is available in injectable and intranasal forms. The rising concerns regarding opioid overdose incidences have increased the importance of naloxone at both individual and community level in the U.S.
The global U.S. Naloxone Market is estimated to be valued at US$ 1,390.7 Mn in 2023 and is expected to exhibit a CAGR of 10.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends in the U.S. naloxone market is the initiatives by public health departments and non-profit organizations to make naloxone more widely available in communities. Many states have enacted laws that enable pharmacists to dispense naloxone without a prescription. There is also a growing trend of co-prescribing naloxone with prescription opioids. This helps prevent accidental overdoses and reduce fatalities. Additionally, higher efforts towards educating the public and first responders about opioid overdose and the use of naloxone have supported market growth.
Porter’s Five Forces Analysis
Threat of new entrants: The threat of new entrants is moderate as Naloxone market requires high capital investment and long approval period for manufacturing facilities and product approvals. However, presence of many regional and local players provide low threat.
Bargaining power of buyers: The bargaining power of buyers is moderate as the demand for naloxone drugs is high. However, presence of many manufacturers provide options to buyers.
Bargaining power of suppliers: The bargaining power of suppliers is low as raw materials used in manufacturing naloxone drugs are widely available.
Threat of new substitutes: Currently, there are no cost-effective drug substitutes for naloxone in the market. Development of new substitutes poses low threat.
Competitive rivalry: The competitive rivalry is high due to presence of many regional and international players offering naloxone drugs. Players compete on basis of pricing, product portfolios and marketing.
Key Takeaways
The global U.S. Naloxone market is expected to witness high growth, exhibiting CAGR of 10% over the forecast period, due to increasing opioid overdose cases in the U.S. The market size for 2023 is estimated to be US$ 1,390.7 Mn.
Regional analysis
The North Central region accounts for the largest share in the U.S. Naloxone market due to high prevalence of opioid abuse cases. states like Ohio, Illinois, Michigan, and Indiana contribute significantly to the region’s large market share.
Key players
Key players operating in the U.S. Naloxone market are 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.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
