Opioid overdose treatment involves the use of pharmaceutical products to prevent deaths from opioid overdose situations. Opioids are prescribed medications used to treat pain but carry risks of addiction and overdose. Some common opioids include oxycodone, hydrocodone, codeine, morphine, fentanyl and others. The key products used in opioid overdose treatment include naloxone, buprenorphine and methadone. Naloxone is considered the first line treatment and works by blocking the effects of opioids on the brain to help reverse an overdose. It is available both via injection and nasal spray. Buprenorphine and methadone are used for longer term treatment of opioid use disorder to help manage cravings and come off opioids safely under medical supervision.
The Global Opioid Overdose Treatment Market is estimated to be valued at US$ 45.9 Bn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the Opioid Overdose Treatment are Enalare Therapeutics Inc.,Opiant Pharmaceuticals,Hikma Pharmaceuticals,Emergent BioSolutions,Purdue Pharma. Enalare Therapeutics and Opiant Pharmaceuticals are focused on development of new products and technologies for opioid overdose treatment.
The growing opioid epidemic and rising overdose deaths have increased demand for opioid overdose treatment drugs globally. As per data, opioid overdose deaths rose 30% in the U.S. alone during COVID pandemic. This is driving increased adoption of naloxone based drugs and therapies.
Major players are also expanding their geographies and presence globally especially in developing Asian and Latin American markets to tap the significant market potential. Companies are engaging in partnerships for expanding manufacturing and distribution networks in key untapped markets.
Market key trends
A major trend gaining momentum is the increased availability of naloxone without prescription. Several countries are formulating policies for dispensing naloxone over-the-counter without need for prescription in order to enable more widespread access and availability. This can help reduce overdose deaths. Technologies focused on easy-to-use naloxone delivery like nasal sprays and auto-injectors are further supporting this trend.
Porter's Analysis
Threat of new entrants: The barriers to entry are moderately high due to requirement of regulatory approvals and high R&D investments.
Bargaining power of buyers: Individual buyers have low bargaining power but pharmaceutical companies and government organizations have moderate bargaining power.
Bargaining power of suppliers: The suppliers of raw materials have moderate bargaining power due to specialized nature of raw materials required for opioid overdose treatment.
Threat of new substitutes: The threat of substitutes is low as there are limited treatment options available for opioid overdose currently.
Competitive rivalry: The competitive rivalry is high owing to presence of many global pharmaceutical companies focusing on development of new drug formulations.
Geographical Regions
North America region currently holds the major share of global opioid overdose treatment market in terms of value due to high consumption of prescription opioid drugs and growing fatalities associated with opioid overdose.
Asia Pacific region is expected to witness the fastest growth during the forecast period owing to improving access to treatment options, rising healthcare spending and growing awareness about opioid overdose in major countries like India and China.
What Are The Key Data Covered In This Opioid Overdose Treatment Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Opioid Overdose Treatment 's growth between 2024 and 2031.
:- Accurate calculation of the size of the Opioid Overdose Treatment and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Opioid Overdose Treatment Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Opioid Overdose Treatment vendors
About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it