Fior Markets launched a study titled “Naloxone Spray Market by Dosage (2 mg/actuation,4 mg/actuation ), Distribution Channel, Regions”, and Global Forecast 2019-2026.
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. Rising incidences of opioid overdose cases along with the growth in regulatory approval for nasal naloxone spray and global rise in the drug epidemic are the dynamics driving the demand of the global naloxone spray market over the forecast period.
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The 4 mg/actuation segment had a market value of USD 123.04 million in 2018
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 hospital segment is anticipated to grow at a CAGR of 25.16% in 2019-2026
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 thenaloxone spray due to the ease of availability.
Regional Segmentation Analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. The North America has registered the largest number of opioid drug overdose related emergencies. Furthermore, medical reimbursement provided by the government in the North America is also one of the major factor for the increasing consumption of the naloxone spray even though they are costlier. The presence of key leading players in this region is also adding the positive strength for the market. Therefore, 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. The Europe region also held a healthy share of the global naloxone market in 2018.
Increasing product launches and approval of new advance naloxone sprays has driven the global naloxone spray market. Even though the factors such as rising prevalence of opioid overdose, global rise in the drug epidemic as well as favorable regulatory scenario are driving the global naloxone spray market, 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.
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Major players in the global naloxone spray market are Emergent BioSolutions, Pfizer, and Teva Pharmaceuticals Industries Ltd.In order to enhance market position, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership. In January 2017, the U.S. Food and Drug Administration (FDA) approved Adapt Pharma’sfirst 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.
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