Naltrexone HCL is one of the opiate antagonists, which is mainly used to prevent opiate effects such as pain relief and feelings of wellbeing. Naltrexone HCL is primarily prescribed to people who are addicted to certain drugs and need to refrain them from taking the same. Naltrexone HCL is sometime also used in treatment of alcohol addicts. Naltrexone HCL decreases the desire to intake drugs or alcohol when treated in support with complete treatment program including changes in lifestyle coupled with counselling from experts. Global Naltrexone HCL Market was valued at around USD 20 million in 2019 and expected to grow at a CAGR of over 8.06% to reach over USD 29.3 million in 2027.
By type, global Naltrexone HCL market is segmented into Medical Grade and Other. Medical grade product segment dominated the global Naltrexone HCL market with over 55% share in 2019. It is also expected to exhibit fastest CAGR during the forecast period. Medical grade Naltrexone HCL is driving growth of this industry owing to increasing usage of Naltrexone HCL in treatment of alcohol and opioid dependents. Moreover, Naltrexone HCL is also used in treatment of dissociative disorders. However, some of the behavioral disorders and side effects of Naltrexone HCL is likely affect growth of this industry.
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By application, global Naltrexone HCL market is segmented into Opioid Independence, Alcohol Independence and Other. Opioid Independence segment dominated the global Naltrexone HCL market with over 45% share in 2019. Demand for Naltrexone HCL is also expected to exhibit the fastest CAGR over the forecast period. Alcohol independence segment holds significant market share and poised to play important role in growth of Naltrexone HCL industry in the years to come. It has been proved to be modestly effective in treating alcohol dependency as it significantly reduces the desire to consume alcohol.
Global Naltrexone HCL market is dominated by the Europe. Europe accounted for over 35% share in 2019. Increasing number of opioid addicts in the region and increasing awareness among end users to tackle opioid dependance is driving the demand for Naltrexone HCL market in the region. Easy availability of Naltrexone HCL and deep-rooted penetration of manufacturers is leading the growth in demand for Naltrexone HCL. North America is also witnessing significant growth in opioid addicts in the recent past. This has been resulted into growing demand for treatments that can reduce opioid or alcohol dependence. In Asia Pacific, India is leading the Naltrexone HCL market with highest share in 2019. Naltrexone HCL is mainly used in reducing alcohol dependance in India as against Europe and North America.
Major companies analyzed in the report include but not limited to Teva, Ascent Scientific, Adooq Bioscience, Mallinckrodt Pharmaceuticals, Sun Pharma and Others. Global Naltrexone HCL market is moderately fragmented with few handfuls of large companies. Top five companies accounted for one third share in total revenue generated by this industry.
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Naltrexone HCL Market by Product, 2015 – 2027 Revenue (USD Million)
• Medical Grade
Naltrexone HCL Market by Application, 2015 – 2027 Revenue (USD Million)
• Opioid Independence
• Alcohol Independence
Naltrexone HCL Market by Region, 2015 – 2027 Revenue (USD Million)
• North America
o United States
• Asia Pacific
o South Korea
o Southeast Asia
• Latin America
• Middle East
o South Africa
Naltrexone HCL Market by Company, 2018 – 2019 Revenue (USD Million)
• Ascent Scientific
• Adooq Bioscience
• Mallinckrodt Pharmaceuticals
• Sun Pharma
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