Naloxone Spray Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

The Business Research Company’s Naloxone Spray Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON, UK, February 16, 2022 /EINPresswire.com/ -- The increase in product approvals is shaping the global naloxone spray market. Major companies manufacturing naloxone sprays are focused on new product approvals to broaden their product portfolios and expand their naloxone spray business. For instance, in April 2021, the US Food and Drug Administration (FDA) approved Hikma Pharmaceuticals KLOXXADOTM (naloxone hydrochloride) nasal spray 8mg, for the immediate treatment of recognized or suspected opioid overdose, as manifested by respiratory and/or central nervous system depression, in adult and pediatric patients. KLOXXADOTM provides an important new treatment to address the opioid epidemic and contains twice as much naloxone per spray as Narcan Nasal Spray 4mg in a ready-to-use nasal spray to reverse the effects of opioid overdose.

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The global naloxone spray market size is expected to grow from $351.39 million in 2021 to $432.33 million in 2022 at a compound annual growth rate (CAGR) of 23%. The change in the naloxone spray market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The global naloxone spray market share is expected to reach $968.93 million in 2026 at a CAGR of 22.4%.

The increasing prevalence of opioid overdoses is contributing to the growth of the naloxone spray market. Opioids include medicines such as morphine, fentanyl, and tramadol and are used for the treatment of pain. However, due to their pharmacological effects, their non-medical use, prolonged use, misuse, and use without medical supervision can lead to opioid dependence and can cause breathing difficulties, or even lead to death or other health problems. For instance, in 2019, opioids were involved in 49,860 overdose deaths (70.6% of all drug overdose deaths). According to WHO, as of 2020, more than 70% of deaths are related to opioids, and out of these 30% of deaths are caused by overdose. As a part of emergency medical treatment, naloxone nasal spray is used to reverse the life-threatening effects of opiate or opioids overdose. Thus, the increasing prevalence of opioid overdoses will drive the growth of the naloxone spray market.

Major players covered in the global naloxone spray market are Emergent BioSolutions, Pfizer, Teva Pharmaceutical Industries Ltd., Opiant Pharmaceuticals, Hikma Pharmaceuticals, Nasus Pharma, Amphastar Pharmaceuticals, Indivior PLC, Samarth Pharma Pvt. Ltd., Troikaa Pharmaceuticals Ltd., and Neon Laboratories Limited.

TBRC’s global naloxone spray market report is segmented by dosage into 2 mg/actuation, 4 mg/actuation, by distribution channel into hospitals, clinics, retail pharmacies, online pharmacies, others.

Naloxone Spray Global Market Report 2022 – By Dosage (2 mg/Actuation, 4 mg/Actuation), By Distribution Channel (Hospitals, Clinics, Retail Pharmacies, Online Pharmacies)– Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a naloxone spray market overview, forecast naloxone spray market size and growth for the whole market, naloxone spray market segments, geographies, naloxone spray market trends, naloxone spray market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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