Global Drug Overdose Market: Overview
The global drug overdose market is expected to witness decent growth, owing to the rapid rise in taking up of drugs by people in the age group 15-64 years. Drug overdose deaths comprise almost a third and a half of all the drug-related deaths, which are attributable in most cases to opioids. Lifetime prevalence of witnessed overdose among drug users is around 70%.
Drug overdoses can be either accidental or intentional. Such incidents occur when a person takes more dose than what has been medically recommended. However, some people may be more sensitive to particular medications, so the low end of a drug may be dangerous for them; a dose that is still within the range of acceptable medical use could be too much for their bodies to adjust.
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An upcoming report on global drug overdose market, Transparency Market Research (TMR) report elucidates on every aspect critical for growth in the market. The report’s details like key trends, challenges, opportunities, geographical analysis, and competitive dynamics are imortant for both existing and upcoming players who will soon make an entry in the global drug overdose market.
Global Drug Overdose Market: Notable Developments
In terms of notable development, global drug overdose market displays the following developments
- In 2018, Mundipharma has completed an asset purchase agreement with Vital Food Processors Limited, a New Zealand-based agricultural science company, for the global rights extending beyond New Zealand to commercialize Zyactinase™ . It is a clinically-proven gastrointestinal health product. Under this agreement, Mundipharma will initially focus on the commercialization of Zyactinase™ to establish a strong foothold in the US and Canada markets. It will continue to supply existing partners. It will then look to expand its distribution and marketing footprint worldwide.
- In 2017, Mucodel Pharma LLC announced the successful completion of a pilot clinical study that involved intranasal naloxone. It is a Mucodel product under development, which reverses the effects of opioid overdose.
TherapeuticsMD Inc, Allergan Plc., Laboratories Vivacy SAS, GTO Pharmaceutical LLC, Hormos Medical Oy, Danderyds Sjukhus AB, and EndoCeutics Inc are some of the renowned names that adorn the global Drug Overdose market.
Global Drug Overdose Market: Key Trends
The global drug overdose market is likely to be driven by the following factors:
Growing Prevalence of Illicit Drugs Consumption Drives Market Growth
According to a report by United Nations Office on Drugs and Crime (UNODC), two-thirds of global drug deaths now from overdose of opioids. Illicit drugs are generally used to get high. It could be taken in overdose amounts when a person's metabolism is unable to detoxify the drug fast enough to deter unintended side effects. Increased use of illicit drugs expand the global drug overdose market during the forecast period.
As per World Health Organization (WHO), nearly 275 million people worldwide (5.6 per cent of the total global population aged between 15 to 64 years) used drugs at least once during 2016. Amongst them, around 34 million people took opioids and about 19 million used opiates. Nearly 27 million people suffered from opioid use disorders in 2016.
The cause of a drug overdose is either by intentional misuse or by accidental overuse. Accidental overdoses come from an adult either with impaired mental abilities or young child swallowing a medication left within their grasp. Adults, particularly seniors or people who take many medications, can mistakenly take the wrong dose of a medication or ingest the incorrect medication. Purposeful overdoses are for a desired effect, either to harm oneself or get high.
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Global Drug Overdose Market: Geographical Analysis
In terms of region, the global drug overdose market is divided into North America, Europe, Middle East and Africa, Asia Pacific, and Latin America.
Incidences of increased opioid use have been found in North America , Asia, Africa, and Europe. Higher cannabis consumption is quite prevalent in Asia, North America, and Latin America. Such high prevalence of drug consumption is fuelling the global drug overdose market. The manufacture of cocaine is mostly from Latin America and so the region contributes considerably towards the global drug overdose market. Cocaine production in Latin America reached an all-time high in 2017, with an estimated production of 2,000 tons happened in 2017. It was up by a quarter on the previous year.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.