Epinephrine Market Surpass US$ 4,207.88 million by 2027 | Exclusive Research by The Insight Partners

Epinephrine Market expected to grow at a CAGR of 8.3%

NEW YORK, UNITED STATES, February 2, 2022 /EINPresswire.com/ -- According to The Insight Partners market research titled ‘Epinephrine Market to 2027 – Global Analysis and Forecasts by Form, Nutrient Composition and Distribution Channel.’ The global Epinephrine market is anticipated to reach US$ 4,207.88 Mn in 2027 from US$ 2,247.87 Mn in 2019. The market is anticipated to grow with a CAGR of 8.3 % from 2020-2027. The report provides the trends prevailing in the global epinephrine market and the factors driving the market along with those that act as hindrances.

Epinephrine is a medication used along with emergency medical treatment services for the allergic reactions caused by insect bites or stings, foods, drugs, and latex, among others. It works by relaxing the muscles in the airways and tightening the blood vessels. The injection is available as a prefilled automatic injection device that contains the solution and in vials to inject subcutaneously and others. The injection is generally injected as required at the first sign of a severe allergic reaction. The growth of the Epinephrine in healthcare market is attributed to the increasing anaphylaxis cases and introduction of generic version of epinephrine are expected to boost the market growth over the years. However, lack of availability of epinephrine auto injectors and their low-cost alternatives is likely to have a negative impact on the growth of the market in the coming years.

Strategic Insights:

Report Coverage Details
Market Size Value in - US$ 2,247.87 Million in 2018
Market Size Value by - US$ 4,207.88 Million by 2027
Growth rate - CAGR of 8.3% from 2019-2027
Forecast Period - 2019-2027
Base Year - 2019
No. of Pages - 144
No. Tables - 64
No. of Charts & Figures - 73
Historical data available - Yes
Segments covered - Product Type ; Application ; Distribution Channel ; and Geography
Regional scope - North America; Europe; Asia Pacific; Latin America; MEA
Country scope - US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage - Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Growing Applications of Epinephrine in Healthcare to Drive Epinephrine in Healthcare Market Growth

Anaphylaxis is a severe, life threatening allergic reaction characterized by symptoms such as skin redness and itching, swallowing and breathing difficulties, wheezing, rapid breathing rate (tachypnoea), accelerated heart rate (tachycardia), and falling blood pressure. It may involve multiple systems of human body. Anaphylaxis is caused by exposure to an allergen (foods, insect stings, or medicines) that is recognized as a non-self by a human body.

The incidence of anaphylaxis is increasing worldwide; according to the NICE, the UK registers an estimated death count of 20 due to anaphylaxis, every year. Moreover, as per the European Academy of Allergy and Clinical Immunology data, ~150 million Europeans suffer from chronic allergic diseases, every year. Anaphylaxis is a generalized allergic reaction; thus the rising incidence of allergies is also leading to the surge in the number of anaphylaxis cases. A large population suffers from various allergies worldwide. For example, as per Allergy Facts by the American College of Allergy, Asthma & Immunology, more than 50 million Americans experience different types of allergies every year.

Epinephrine is the most effective treatment for anaphylaxis; however, various studies indicate underutilization of this drug due to high cost, lack of availability, unawareness regarding usage procedure and anaphylactic onset, etc. With steep price hike over the past decade, the lack of affordable alternatives have caused trouble for the patient to access this drug. EpiPen is an injection device that dispenses epinephrine, and people with severe allergies have been relying on it in case of life-threatening allergic reactions. Epinephrine alone is a generic drug, but the EpiPen is a drug-device combination product, which makes it difficult to replicate and get FDA approval for competitors. Therefore, there has been a limited number of players in this space. Moreover, the demand for epinephrine has been on the rise with limited product supply. As per the Pew Charitable Trusts, demand for epinephrine auto-injectors has increased in the last few years, and the number of EpiPen prescriptions in the US grew from ~2.5 million in 2011 to 3.5 million in 2015. The growth can be attributed to the high demand from schools.

The COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The COVID-19 crisis has overburdened public health systems in many countries and highlighted the strong need for sustainable investment in health systems. As the COVID-19 pandemic progresses, the healthcare industry is expected to see a drop in growth. The life sciences segment thrives due to increased demand for invitro diagnostic products and rising research and development activities worldwide.

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In terms of product type, the Epinephrine in healthcare market is segmented into prefilled syringes, auto-injectors, ampoules and vials. The auto-injectors segment held the largest share of the market in 2019. The auto-injectors segment is also anticipated to register the highest CAGR of 8.6% in the market during the forecast period.

Based on application, the Epinephrine in healthcare market is segmented into anaphylaxis, superficial bleeding, respiratory disorders, cardiac arrest. The anaphylaxis segment held the largest share of the market in 2019. Anaphylaxis segment is also estimated to register the highest CAGR of 8.9% in the market during the forecast period

The epinephrine market majorly consists of the players such as MYLAN N.V., Abbott, ALK ABELLO, Amneal Pharma, Kaleo, LINCOLN MEDICAL LTD (BioProject), Teva Pharmaceuticals Ltd, Adamis Pharmaceuticals Corporation (Novartis AG), Emirade, and Aurum Pharma (Ethypharm Group Company).

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Sameer Joshi
The Insight Partners
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