Naloxone is a type of medication that is widely used to reverse the excessive effect or overdose of opioid. Opioid is a type of drug that includes heroine. Opioids are also present in synthetic opioids including fentanyl and pain relievers such as codeine, hydrocodone, morphine, and others that are legally prescribed and freely available in the market. Across the pharmaceutical industry, naloxone is widely used as it effectively suppresses the effect of opioids. Opioids are mixed with naloxone to balance drug dose to patients. In order to control and maintain the overdose of opioids naloxone is used significantly. Moreover, various medical research organizations and centers are making constant efforts to find out more properties of naloxone. The aforementioned factors are expected to drive the demand in the naloxone market in the coming years.
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Approval of Candidate Drugs May Pose Strong Growth Opportunities for Naloxone Market
Various regulatory bodies are now approving new naloxone products that are likely to open several new opportunities for the global naloxone market. For instance, Mylan N.V. launched its new naloxone hydrochloride injection USP. This product is medicinally equivalent to the naloxone hydrochloride injection 0.4 mg/mL generated by Hospira Inc. Another example is when in the 2017, FDA approved Adapt Pharma Inc.’s NARCAN Nasal Spray 2 mg formulation to be used in times of emergency treatments for known or suspected opioid overdose. Thus, these growing efforts by various companies and research centers are projected to expand the naloxone market in the coming years.
Growing demand in emerging economies in Aisa Pacific is another driving factor boosting the demand in the global naloxone market. Recurring prescription of various types of drugs for medical and healthcare purposes in the region will benefit the market. On the other hand, North America is likely to hold a dominant position in the market. The presence of renowned research centers and rising availability of novel naloxone products made this region lead the market.
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