The global Naloxone Spray Market is expected to reach USD 1.41 Billion by 2028, according to a new report by Reports and Data. Naloxone Nasal Spray is used for treating an opioid emergency or a likely opioid overdose with symptoms such as breathing problems and severe sleepiness or inability to respond.
Naloxone Nasal Spray is used to reverse the effects of opioid medicines for a temporary period. The medicine in this nasal Spray does not affect people who are not exposed to opioid medications. It is necessary to provide emergency medical help to the patient after giving the first dose of the nasal spray. According to the Centers for Disease Control and Prevention, approximately 400,000 people died as a result of an opioid overdose in the period 1999 to 2017. Also, on average, over 130 people in America die every day owing to overdoses involving opioids, a class of drugs that comprise prescription medications like oxycodone, fentanyl, morphine, and hydrocodone, along with illegal drugs including heroin or drugs sold as heroin.
Increase in launches and approval of new naloxone spray products is anticipated to be a significant driver boosting the growth of the market in the upcoming years. For instance, in April 2019, Pfizer, a major pharmaceutical company, launched a generic nasal spray of naloxone which is expected to significantly fuel market demand.
Additionally, with an increase in the prevalence of opioid overdoses, several of efforts are being taken to make this emergency overdose reversal medication more readily available and accessible to the people who may require it. The FDA has also taken the unprecedented step of assisting manufacturers to pursue approval of an over-the-counter naloxone spray product and is exploring other ways to increase the availability of naloxone products intended for use in the community. As naloxone is a fairly new product, the high cost associated with this product coupled with the serious side-effects may create hindrances in the market growth.
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The report provides a panoramic view of the market and insights that will help formulate better business decisions. In addition to that, the study helps well-established companies and players gain a deeper understanding of the market and make informed decisions. The report also discusses in detail about the key factors influencing the market growth.
Key companies operating in the market include:
Emergent BioSolutions, Pfizer, and Teva Pharmaceuticals Industries Ltd.
The report covers an extensive analysis of the key market players in the market along with their business overview, expansion plans, and strategies. The report also focuses on recent strategic alliances in the market including mergers and acquisitions, joint ventures, partnerships, agreements, corporate and government deals, product launches, and brand promotions, among others.
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On basis of product types and application offered by the Naloxone Spray industry, the market is segmented into:
Dosage Outlook (Revenue, USD Million; 2020-2028)
- 2 mg/actuation
- 4 mg/actuation
Distribution Channel Outlook (Revenue, USD Million; 2020-2028)
- Retail Pharmacies
- Online Pharmacies
The report aims to provide a better understanding of the market dynamics and the workings of the industry on a global level. To gain a deeper understanding of the industry, the global Naloxone Spray market is further segmented on the basis of key geographical regions such as North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. The report also offers a country-wise analysis to provide crucial insights into market size, market growth, market revenue growth, and economic growth in each region.
The regional analysis covers:
* North America
o Rest of Europe
* Asia Pacific
o South Korea
o Rest of APAC
* Latin America
o Rest of LATAM
* Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of MEA
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Key Features of the Global Naloxone Spray Market Report:
* Comprehensive analysis of the key players operating in the market along with their SWOT analysis, their business profiles, business overview, market share, global position, and market value
* Identification and analysis of significant trends and factors driving revenue growth of the market
* Analysis of the competitive landscape along with strategic mergers, expansions, agreements, partnerships, joint ventures, acquisitions, and product launches
* Assessment of each market segment along with their growth trends and market revenue contribution
* Study of the key regions to pinpoint growth potential and study opportunities, threats, limitations, and risks
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