WASHINGTON, March 02, 2022 (GLOBE NEWSWIRE) -- Increasing prevalence of opioids overdose is expected to fuel the growth of Naloxone Spray Market. Rising cases of opioid drug abuse in the developed as well as developing nations is another factor driving the growth of Naloxone Spray Market. These are some of the advantages that generating demand for the Naloxone Spray Market, states Vantage Market Research, in a report, titled “Naloxone Spray Market by Dosage (2 mg/actuation, 4 mg/actuation, Others), by Distribution Channel (Hospitals, Clinics, Retail Pharmacies, Online Pharmacies), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
The market size stood at USD 0.32 Billion in 2021. The Global Naloxone Spray Market size is expected to reach USD 1.94 Billion by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 20.1% during the forecast period.
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The report on Naloxone Spray Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Value Chain Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Porter’s Five Forces Analysis
- Global and Regional Dynamics
Market Overview:
Recent Approvals by FDA for Using Naloxone Spray
Recently launch and approval of novel naloxone products by various regulatory bodies is expected to be a major factor aiding in growth of the market over the forecast period. Naloxone is a medicine that can be administered by individuals with or without medical training to help reduce opioid overdose deaths. If naloxone is administered quickly, it can counter the opioid overdose effects, usually within minutes. A higher dose of naloxone provides an additional option in the treatment of opioid overdoses. For instance, in January 2017, the U.S. Food and Drug Administration (FDA) approved Adapt Pharma Inc.’s NARCAN Nasal Spray 2 mg formulation for emergency treatment of known or suspected opioid overdose. In 2016, Mylan N.V. launched its naloxone hydrochloride injection USP, 0.4 mg/mL packaged in 1 mL single-dose vials. It is therapeutically equivalent to the naloxone hydrochloride injection 0.4 mg/mL, of Hospira Inc.
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Major Side Effects of Naloxone Spray Might Hinder
Use of Naloxone Spray has certain side effects which are likely to hinder the market to some extent. These include body aches, a fever, sweating, runny nose, sneezing, goose bumps, yawning, weakness, shivering or trembling, nervousness, restlessness or irritability, diarrhoea, nausea or vomiting, stomach cramps, fast heartbeat, and increased blood pressure. This medicine should be given immediately upon when a suspected or known overdose of an opioid has occurred. This will help prevent serious breathing problems and severe sleepiness that can lead to death.
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. The Naloxone Spray Market also had a huge impact. Governments across the world took severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop the swift spread of COVID-19. These actions led to a severe impact on the global economy impairing various industries. Moreover, reduced manufacturing activities further affected the demand for Naloxone Spray manufacturing across the globe. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data- points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Region 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
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Regional Analysis:
Increasing Growth of Naloxone Spray Market in North America
North America accounted for the largest share of the Naloxone Spray Market in 2021. The large share of this region in the global Naloxone Spray Market can be attributed to the factors such as the rising prevalence breathing problems across globe. Countries such as India and China are highly polluted are prone to respiratory diseases. In coming years, the use of Naloxone Spray is expected to show positive result in this region.
The Asia Pacific is expected to grow at the fastest rate during the forecast period, owing to the prevalence for increase in number of well-established Naloxone Spray companies and research institutes in the US and Canada. Also large number of on-going research studies and growth of the overall healthcare sector on a global scale are among the few factors expected to contribute to the growth of this market. For instance, in September 2017, Mundipharma International Limited received approval from European Medicines Agency (EMA) for its product (intranasal naloxone 1.8 mg) to use in emergency reversal of opioid overdose. Key players funding major Research and Development (R&D) facilities which are also one of the factors that are booming the development of Naloxone Spray Market in this region.
Browse market data Tables and Figures spread through 133 Pages and in-depth TOC on "Naloxone Spray Market by Dosage (2 mg/actuation, 4 mg/actuation, Others), by Distribution Channel (Hospitals, Clinics, Retail Pharmacies, Online Pharmacies), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here - https://www.vantagemarketresearch.com/press-release/naloxone-spray-market-687484
List of Prominent Players in the Naloxone Spray Market:
- Emergent BioSolutions (US)
- Pfizer (US)
- Teva Pharmaceutical Industries Ltd. (Israel)
- Opiant Pharmaceuticals (US)
- Hikma Pharmaceuticals (UK)
- Nasus Pharma (Israel)
- Amphastar Pharmaceuticals (US)
- Indivior PLC (US)
- Samarth Pharma Pvt. Ltd. (India)
- Troikaa Pharmaceuticals Ltd. (India)
- Neon Laboratories Limited (India)
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Naloxone Spray Market?
- How will the Naloxone Spray Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Naloxone Spray Market?
- What is the Naloxone Spray market drivers and restrictions?
- What will be the CAGR and size of the Naloxone Spray Market throughout the forecast period?
This market titled “Naloxone Spray Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Report Attribute | Details |
| Market Size in 2021 | USD 0.32 Billion |
| Projected Market Size in 2028 | USD 1.94 Billion |
| CAGR Growth Rate | CAGR of 20.1% From 2022 – 2028 |
| Base Year | 2021 |
| Historic Years | 2016 - 2020 |
| Forecast Years | 2022 - 2028 |
| Segments Covered | Dosage
|
| Quantitative Data - Units | Revenue in USD Million/Billion and CAGR from 2021 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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