by Epinephrine, also known as adrenaline, is a hormone and medication that is used to treat a number of conditions including anaphylaxis, asthma, cardiac arrest, and superficial bleeding. Epinephrine auto-injectors provide hands-free injection of epinephrine which is convenient for self or assisted administration during emergencies like allergic reactions.
The global Epinephrine Market is estimated to be valued at US$ 1.95 Bn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the epinephrine market is the increasing demand for pre-filled epinephrine auto-injectors. Pre-filled auto-injectors are easier and more convenient to administer during emergencies as they do not require assembly and are ready to use. Companies are focused on developing affordable generics and authorized generics of pre-filled auto-injectors in order to cater to a wider customer base. For instance, in 2020, Mylan launched its authorized generic of EpiPen auto-injector at half the price to increase accessibility. The convenience of use and affordable alternatives are expected to drive the growth of pre-filled auto-injectors over the forecast period.
SWOT Analysis
Strength: Epinephrine or adrenaline is the most important and effective medication used in the treatment of life threatening allergic reactions like anaphylaxis. It works fast to relax muscles in the airways and prevent swelling.
Weakness: Epinephrine injections have to be administered correctly to be effective. Errors in dosage or injection technique can compromises its effectiveness. High doses of epinephrine can also cause side effects like increased heart rate.
Opportunity: Growing prevalence of allergies driven by changing lifestyle and environmental factors is increasing the demand for epinephrine auto-injectors globally. Launch of generic versions provide an opportunity to cater to cost-sensitive markets.
Threats: Stringent regulatory environment and product recalls due to manufacturing issues pose challenges. Alternate treatment approaches also threaten epinephrine’s dominant position.
Key Takeaways
The global Epinephrine Market Share is expected to witness high growth, exhibiting CAGR of 11% over the forecast period, due to increasing prevalence of anaphylaxis and allergies globally. As per estimates, allergies affect over 50 million Americans currently.
Regional analysis: North America currently dominates the epinephrine market due to high disease awareness, developed healthcare infrastructure and favorable reimbursement policies. However, Asia Pacific region is expected to grow at the fastest pace due to rising healthcare expenditure in countries like China and India and high untreated population.
Key players operating in the Epinephrine market are Mylan N.V., Pfizer, Inc., Teva Pharmaceuticals Industries Ltd., Impax Laboratories, Inc., Kaleo, Inc., Adamis Pharmaceuticals Corporation, Bausch Health Companies, and ALK- Abello A/S. Market players are focused on product approvals, launches and supply agreements to strengthen their regional presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
