NALOXONE MARKET ANALYSIS

Naloxone Market Size and Trends

The naloxone market is estimated to be valued at USD 1,341.5 Mn in 2024 and is expected to reach USD 2,683.9 Mn by 2031, growing at a compound annual growth rate (CAGR) of 10.4% from 2024 to 2031.

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The demand for naloxone is expected to rise significantly during the forecast period owing to the increasing prevalence of opioid overdose cases across the world. With rising opioid misuse worldwide due to increased opioid prescriptions for chronic pain management, the cases of opioid overdoses have surged. Naloxone acts as an antidote to reverse opioid overdose and save lives. Favorable government policies and programs aimed at increasing public awareness and availability of naloxone are also expected to boost the market growth during the analysis period.

Increasing dependency on drugs and opioids overdose

For instance, according to the data published by the World Health Organization (WHO) in August 2021, around 0.5 million deaths are caused by drug use, with more than 30% of these deaths attributed to overdose and more than 70% of these deaths caused due to opioids worldwide. Moreover, according to the data published by the Centers for Disease Control and Prevention, in 2021, around 100,306 drug overdose deaths were reported in U.S. during 12-month period ending in April 2021.

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Various naloxone manufacturers, private organizations, and government organizations are focusing on initiatives to reduce the death rate related to opioids overdose by increasing access to products such as naloxone for the population. For instance, on March 3, 2022, the Delaware Department of Health and Social Services’ Division of Substance Abuse and Mental Health (DSAMH) announced about hosting free monthly naloxone access training for all members of the Delaware state, U.S. This training will include learning about recognizing and responding to an opioid overdose.