Naloxone Spray Global Market Report 2021: COVID-19 Implications And Growth – Yahoo Finance

Major players in the naloxone spray market are Emergent BioSolutions, Pfizer, Teva Pharmaceutical Industries Ltd. , Opiant Pharmaceuticals, Hikma Pharmaceuticals, Nasus Pharma, Amphastar Pharmaceuticals, Indivior PLC, Samarth Pharma Pvt.
New York, Oct. 25, 2021 (GLOBE NEWSWIRE) — announces the release of the report "Naloxone Spray Global Market Report 2021: COVID-19 Implications And Growth" –
Ltd., Troikaa Pharmaceuticals Ltd., and Neon Laboratories Limited.

The global naloxone spray market is expected to grow from $285.09 million in 2020 to $351.39 million in 2021 at a compound annual growth rate (CAGR) of 23.3%. The change in 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 market is expected to reach $785.35 million in 2025 at a CAGR of 22.3%.

The naloxone spray market consists of sales of naloxone spray by entities (organizations, sole traders, and partnerships) which is prefilled with naloxone a needle-free device that is sprayed into one nostril, and requires no assembly.It is used for treating an opioid emergency with symptoms such as problems with breathing and severe sleepiness or inability to respond.

Naloxone is a non-scheduled prescription drug, belongs to the class of medications called opiate antagonists, and is used to reverse or prevent the effects of opioid narcotic overdose for drugs such as codeine, fentanyl, morphine, and oxycodone. Naloxone comes as a solution (liquid) to spray into the nose and each naloxone nasal spray contains a single dose of naloxone and should be used only once.

The main types of dosages involved in the naloxone spray include 2 mg/actuation and 4 mg actuation. 2 mg/actuation sprays naloxone is equivalent to 1.8 mg naloxone and is used for emergency medication of known or suspected opioid overdose, as demonstrated by respiratory and/or central nervous system depression. The 2mg dose is licensed for use in opioid-dependent individuals who are at risk of severe opioid withdrawal and who live in an environment with a low risk of accidental or purposeful opioid exposure by household contacts. Naloxone sprays are available in various distribution channels such as hospitals, clinics, retail pharmacies, online pharmacies, others.

North America was the largest region in the naloxone spray market in 2020. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The increase in product approvals is shaping the 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.

In August 2019, Hikma Pharmaceuticals PLC, a UK-based pharmaceutical company acquired Insys Therapeutics Inc’s naloxone, epinephrine nasal sprays for an undisclosed amount.The acquisition enhances Hikma Pharmaceuticals PLC’s nasal spray capabilities, resulting in a comprehensive platform that can be used for both internal and external programs.

Insys Therapeutics Inc is a US-based company that manufactures naloxone, epinephrine nasal sprays.

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. Therefore, the increasing prevalence of opioid overdoses drives the growth of the naloxone spray market.

The countries covered in the naloxone spray market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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