Opioid overdose has become a major problem for governments in developing and developed countries, especially in the United States and the United Kingdom. With the surging number of governments legalizing prescription opioids, the risk of opioid abuse too rises.
This has pushed the demand for alexipharmic drugs. The alexipharmic drug market valuation is estimated to be a staggering USD 3.80 billion in 2024 and is slated to reach USD 6.50 billion by the end of 2034, growing at a decent CAGR of 5.40%.
| Attributes | Details |
|---|---|
| Market Value for 2024 | USD 3.80 billion |
| Projected Market Value for 2034 | USD 6.50 billion |
| Value-based CAGR of the Market for 2024 to 2034 | 5.40% |
Exclusive Offer: 30% Off on Regional Reports
Get a free sample report and customize your regions for a 30% discount on your regional report!
Alexipharmic drugs are used for various purposes, such as opioid overdose, alcohol overdose, benzodiazepine overdose, etc. Among these, opioid overdose is in line to hold a majority market share of 39% in 2024.
| Attributes | Details |
|---|---|
| Application | Opioid Overdose |
| Market Share (2024) | 39% |
Increased awareness among the general population about the opioid crisis and the importance of having access to naloxone and other counterpoisons have significantly impacted the market growth.
The effectiveness of counterpoisons like naloxone is also pushing consumers to prefer them for opioid overdose situations. With time and tide, the stigma around the use of counterpoisons has also made consumers more comfortable in using these drugs without being frowned upon.
With the growing demand for counterpoisons in the general public, manufacturers are targeting various distribution channels for the sales of these drugs. Based on this, hospital pharmacies are poised to hold a majority share of 42% in this market in 2024.
| Attributes | Details |
|---|---|
| Distribution Channel | Hospital Pharmacies |
| Market Share (2024) | 42% |
Hospital pharmacies are the number one destination for counterpoisons as they are often the first point of contact for individuals experiencing severe drug overdoses. Apart from this, medical professionals prescribe counterpoisons, which are seldom found outside of hospital pharmacies.
These hospital pharmacies are also generating huge demand for these drugs as they are closely integrated with other clinical services, including emergency departments and intensive care units.
| Countries | CAGR (2024 to 2034) |
|---|---|
| South Korea | 8.00% |
| Japan | 7.10% |
| United Kingdom | 6.70% |
| China | 6.30% |
| United States | 5.70% |
The market in South Korea is slated to grow at a CAGR of 8.00% through 2034. The government has been actively implementing various initiatives to mitigate the rising cases of alcohol and opioid overuse. For this, they have been promoting various counterpoisons such as naloxone.
The government’s support in the form of awareness campaigns, training, and accessibility, has created a conducive environment for the increasing adoption of counterpoisons in the country. The market is also growing in South Korea due to the increasing availability of these drugs across various distribution channels.
The market in Japan is a promising one. It is anticipated to grow at a CAGR of 7.10% through 2034. Japan, in the last few years, has been reporting a substantial rise in opioid prescription rates, thanks to the influence of Western lifestyles on the younger generations in the country. This has created unprecedented demand for these drugs in the country.
The consumption of these drugs has also touched the skies as there has been a shift in public attitudes towards drug addiction. With increasing recognition of the need for harm reduction measures such as naloxone distribution programs, the market is set to benefit.
The market in the United Kingdom is very likely to flourish in the coming years. The market is expected to grow at a CAGR of 6.70% through 2034. According to a survey, the opioid crisis in the United Kingdom has reached its all-time peak as opiate-related drug poisoning deaths have increased by 388% since 1993 in England and Wales.
This has significantly increased the prominence of these drugs in the United Kingdom as more people seek medications and prescriptions during emergencies associated with opioid abuse. Community distribution programs conducted by the public as well as private entities are also benefiting the consumption of these drugs in the country.
The market in China is also among the lucrative ones. It is expected to grow at a CAGR of 6.30% through 2034. The government has made strict rules and regulations regarding the manufacturing, possession, and distribution of counterpoisons in the country.
This has instilled a sense of trust in these medications among the general population in China, which is appreciably increasing the consumption of these drugs in the country. The consumption of these drugs in the Chinese marketplace is observed to be more in the urban and semi-urban settings, as compared to the rural ones.
The United States alexipharmic drug market is a lucrative one. It is estimated to grow at a CAGR of 5.70% through 2034. The country is currently facing the problem of opioid addiction among the general populace.
Each year, more than 15 million people in the United States consume prescription opioids. This automatically generates huge demand for these drugs in the country as the chances of overdose are very high.
Increasing awareness among the people, coupled with rising disposable income, is a key reason for the market’s growth in the country. Modern and sophisticated infrastructure and reduced stigma regarding the use of counterpoisons among individuals are also responsible for the growth of this market in the country.
The alexipharmic drug market is filled with a multitude of companies vying for international dominance in the marketplace. These companies, being in the pharma industry for a prolonged period of time, have extended their market reach beyond international borders.
The advent of online medicine platforms, telemedicine, and last-mile-delivery services in developed and developing countries has also helped the market to flourish in the past few years.
Recent Developments
Check Free Sample Report & Save 40%!
Select your niche segments and personalize your insights for smart savings. Cut costs now!
The market is expected to be worth USD 3.80 billion in 2024.
The market is expected to reach USD 6.50 billion by 2034.
The market is in line to grow at a CAGR of 5.40% from 2024 to 2034.
Alkermes, Inc., B. Braun Melsungen AG, Bausch Health Companies Inc., Emergent BioSolutions, and Ethypharm S. A. are some of the major players in the market.
The valuation for the alexipharmic drug market in 2023 was USD 3.60 billion.
| Market Size (2023) | USD 4,978.1 million |
|---|---|
| Market Projected Size (2033) | USD 6,898.4 million |
| Forecasted Value CAGR (2023 to 2033) | 3.3% |
| Market Value in 2021 | USD 5,504.3 Million |
|---|---|
| Market Value in 2032 | USD 6,579.2 Million |
| Market CAGR (2022 to 2032) | 1.8% |
Explore Therapy Area Insights
View Reports
Alexipharmic Drug Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
