The escalating opioid crisis has intensified the need for effective alexipharmic drugs, leading to significant growth in the global market. Valued at an impressive USD 3.80 billion in 2024, the global alexipharmic drug market is projected to reach USD 6.50 billion by 2034, expanding at a compound annual growth rate (CAGR) of 5.40%.
The legalization of prescription opioids has unfortunately resulted in a surge in opioid abuse worldwide. According to recent reports, this increase in abuse has directly influenced the rising demand for alexipharmic drugs, which are crucial in counteracting the effects of opioid overdoses and poisonings.
Get Market Intelligence: Checkout Now to Access
Governments worldwide have started taking positive steps to combat the opioid crisis. For instance, the United Kingdom government has launched a comprehensive strategy to tackle the opioid epidemic and reduce the stigma associated with drug addiction. These steps will help to shape the future of the alexipharmic drug market, making it more accessible to those in need.
“Key players in the alexipharmic drug market are collaborating with government and non-government organizations to spread awareness regarding the use of these drugs in case of opioid over abuse. This has not only increased brand awareness but also highlighted the importance of responsible medication usage ”, opines an FMI analyst.
Key Takeaways from the Market Study:
- The opioid overdose segment dominates the alexipharmic drug market with an expected share of 39% in 2024.
- Based on the distribution channels, the hospital pharmacies segment leads the alexipharmic drug market with an anticipated share of 42% in 2024.
- The market in South Korea is anticipated to grow at a CAGR of 8.00% through 2034.
- The market in Japan is estimated to rise at a 7.10% CAGR through 2034.
- The market in the United Kingdom has the potential to increase at a 6.70% CAGR through 2034.
- The market in China is predicted to rise at a 6.30% CAGR through 2034.
- The market in the United States is in line to grow at a CAGR of 5.70% through 2034.
Competitive Landscape:
The alexipharmic drugs industry has numerous companies competing for global market dominance.
- These companies have been operating in the pharmaceutical industry for a long time and have expanded their market reach beyond national borders.
- The market has benefited from the growth of online medicine platforms, telemedicine, and last-mile delivery services in developed and developing countries.
- Prominent companies in the market include Alkermes, Inc., B. Braun Melsungen AG, Bausch Health Companies Inc., Emergent BioSolutions, and Ethypharm S. A.
Recent Developments:
- Novo Nordisk acquired Alkermes’s Irish plant in Athlone for $92.5m on December 14, 2023.
- Rockwell Medical announced a 3-year co-promotional collaboration with B. Braun Medical on June 29, 2023.
- Emergent BioSolutions expanded access to OTC naloxone on March 28, 2024, distributing 22 million doses.
- Ethypharm acquired Altan Pharma on June 18, 2021, expanding into the Spanish market.
- Emergent BioSolutions extended the shelf life of naloxone nasal spray on January 23, 2024, approved by FDA for OTC use in spring 2023.
Access the Full Report – Take Your Business Strategy to the Next Level
Key Companies:
- Alkermes, Inc.
- B. Braun Melsungen AG
- Bausch Health Companies Inc.
- Emergent BioSolutions
- Ethypharm S.A.
Key Segments of the Alexipharmic Drug Industry:
By Application:
- Alcoholic Overdose
- Opioid Overdose
- Benzodiazepine Overdose
- Others
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube