Global Naltrexone Market: Overview

According to the World Health Organization (WHO), substance abuse is usage of psychoactive substances, including alcohol and illicit drugs. Use of psychoactive substances could escalate to dependence syndrome (combination of behavioral, cognitive, and psychological phenomenon which forces an individual to use alcohol, nicotine, and illicit drugs). According to the WHO, in 2016, around 275 million people had used drugs at least once in their lifetime. According to the National Institute on Alcohol Abuse and Alcoholism, over 6% of the adult population suffered from alcohol use disorder in the U.S. in 2015. Naltrexone, commercialized under several brands such as Revia and Vivitrol, is primarily used to control opioid or alcohol dependence. However, all drugs are not available in all countries. For instance, the brand formulation of “Revia” had been discontinued in the U.S.; however, the generic Revia has been commercialized in the country.

Global Naltrexone Market: Key Trends

The global naltrexone market is driven by rise in alcohol & opioid dependence and high awareness about initiatives by medicine manufacturers and governments. However, strict regulatory constraints such as legal obligations for addiction treatment products in the developed countries is projected to hamper the growth of the global naltrexone market. Nevertheless, increase in research and development expenditure by major players, strategic alliances among key companies, and ongoing research on naltrexone drugs is anticipated to drive the global market during the forecast period.

Global Naltrexone Market: Segmentation

The global naltrexone market can be segmented based on product, dosage form, application, and end-user. In terms of product, the market can be bifurcated into branded and generic. Based on application, the global naltrexone market can be categorized into opioid dependence treatment, alcohol dependence treatment, and other applications such as pain management. In terms of dosage form, the market can be classified into tablet and injection. Based on end-user, the global naltrexone market can be divided into hospital pharmacies, retail pharmacies & drug stores, and online sales.

Global Naltrexone Market: Regional Analysis

Geographically, the global naltrexone market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America captured the largest share of the global market in 2018, owing to rise in opioid & alcohol treatment programs and increase in government initiatives to spread awareness about opioid/alcohol dependence. Europe held the second largest market share in 2018. The market in the region is projected to expand at a high CAGR in the near future. Opioid treatment with naltrexone is supported by government and private bodies in Europe, with a broad and diversified range of interventions. Additionally, the provision of outpatient treatment and support for treatment programs have increased considerably since 2010. Moreover, government initiatives to spread awareness about the increase in usage of opioids & alcohol and negative effects are expected to drive the naltrexone market in Europe during the forecast period.

The naltrexone market in Asia Pacific is expected to grow at a rapid pace in next few years. According to the China National Narcotics Control Commission 2015 report, heroin was the most abused drug in China. Therefore, the Government of China initiated various programs to spread awareness about drug addiction and its ill effects on society and personal life. According to a 2016 WHO report, there has been a substantial increase in treatment for abuse of other prescription drugs in Asia Pacific. These factors are likely to augment the naltrexone market in Asia Pacific during the forecast period. Less awareness about opioid/alcohol dependence treatment and inadequate health care infrastructure are projected to restrain the market in Latin America and Middle East & Africa during the forecast period.

Global Naltrexone Market: Competitive Landscape

Key companies in the global naltrexone market are Alkermes, Sun Pharmaceutical Industries Ltd., LGM Pharma, Mallinckrodt Pharmaceuticals, AdooQ BioScience, Abcam plc, and Intas Pharmaceutical Ltd., among others.

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
  • Europe
  • 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.

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