The global U.S. Naloxone Market is estimated to be valued at US$ 1532.55 Mn or 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 Overview:
Naloxone is an opioid antagonist drug that is primarily used for the complete or partial reversal of opioid overdose, for example due to heroin, morphine or other opioid analgesics. It works by blocking or reversing the effects of opioids on the central nervous system and respiratory system. The rising rates of opioid abuse, misuse and overdose incidents in the U.S. has led to a growing demand for naloxone. Easy availability in both prescription and over-the-counter form is further expected to aid the market growth.
Market key trends:
One of the key trends in the U.S. Naloxone Market is the growing consumer and public awareness regarding opioid overdose and wider availability of naloxone products. Several initiatives undertaken by government and non-profit organizations aim to disseminate knowledge about naloxone and its ability to reverse opioid overdose. Similarly, liberalization of naloxone access through standing orders and collaborative practice agreements have made it easier for consumers and families of drug users to procure naloxone without prescription.
Rising investment in innovation is another major trend, with companies focusing on developing easy-to-use naloxone formulations such as nasal sprays, prefilled auto-injectors and Evzio (the first naloxone auto-injector approved by the U.S. FDA). These user-friendly products counter the complexities and time constraints associated with conventional intramuscular injections during opioid emergencies.
Porter’s Analysis
Threat of new entrants: High costs associated with manufacturing and distribution networks act as entry barriers in the U.S. naloxone market.
Bargaining power of buyers: Increasing availability of generic formulations intensifies competition among existing players and reduces buyers' bargaining power.
Bargaining power of suppliers: The key raw material for the manufacture of naloxone is easily available which reduces suppliers' bargaining power.
Threat of new substitutes: Naloxone has limited threat from new substitutes due to its high efficacy in reversing opioid overdose.
Competitive rivalry: Intense competition exists among key players to gain high market share.
Key Takeaways
Global U.S. Naloxone Market Size is expected to witness high growth, exhibiting CAGR of 10% over the forecast period, due to increasing opioid overdose cases. The market size for 2023 is estimated to reach US$ 1532.55 Mn.
Regional analysis
The North America region currently dominates the U.S. naloxone market owing to a higher prevalence of opioid addiction and overdose cases in the U.S. Moreover, government support and initiatives aimed at curbing opioid crisis also contributes to market growth.
Read More- https://www.trendingwebwire.com/u-s-naloxone-market-share-outlook-and-growth/
Global Morphine Market: By Dosage Form (Injection, Oral), By Application (Pain Management, Diarrhea Suppressant, Cold Suppressant), By End User (Hospitals& Clinics, Ambulatory Surgical Centers), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and Region (North America, Europe, Asia-Pacific, Rest of the World)—Forecast to 2027Medical Morphine Market-OverviewThe alarming rise in pain-related discomfort cases triggered by the onset of serious ailments is likely to spur the medical morphine market in 2020.
Also, the development of effective drug combinations is estimated to prompt the development of the medical morphine market size in the approaching period.Request Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/10643 Segmental Analysis The segmental scrutiny of the medical morphine market has been conducted on the basis of application, route of administration, end-user, distribution channel, and region.
On the basis of end-user, the medical morphine market is segmented into home care, ambulatory surgical centers, and hospitals & clinics.
On the basis of application, the medical morphine market is segmented into myocardial infarction, arthritis, kidney stones, cancer, diarrhea, and others.
The Americas region held the principal share of the medical morphine market in 2017.
The European region is the next largest market and is anticipated will have a strong part in the medical morphine market in the forecast period.
