Market Overview
Epinephrine
Market is projected to achieve a value of USD 2,103 Million in 2023, with a
linear behavior in the market growth it is forecasted to achieve a value of USD
4,712 Million by 2033 with a CAGR of 9.20% during the forecast period
2023-2033.
Epinephrine is a
widely common medication and hormone frequently used in diverse scenarios,
including the urgent management of type 1 hypersensitivity responses, like
anaphylaxis. The primary triggers of anaphylactic reactions often involve food,
insect stings, medications, and allergy immunotherapy injections. Epinephrine
can be administered through various routes, including intramuscular, subcutaneous,
intravenous, and inhalation.
Positive
reimbursement policies for auto-injectors, the proliferation of technologically
advanced products entering the market, and the rising incidence of various
medical conditions like anaphylaxis and cardiovascular diseases, particularly
among children on a global scale, are key factors contributing to growth of the
market. For instance, according to the analysis by Pubmed Central, it is
estimated that 5% of the U.S. populace has suffered anaphylaxis
Epinephrine
utilization is rapidly expanding across a range of medical contexts owing to
its numerous benefits. These advantages encompass the capability to provide
advanced cardiovascular life support to patients, enhance neurological
outcomes, prompt absorption, cardiac stimulation, improved respiratory
function, stabilization of blood pressure, reduction of facial swelling, and
its role as the primary treatment for life-threatening allergic reactions.
Moreover, adrenaline helps mitigate the body's response to allergens, slowing
down the allergic reaction process.
COVID 19 pandemic was impacted negatively in the growth of Epinephrine market due to world wild lockdown condition. Disturb in supply chain, reduction in number of patient seeking treatment, closing of clinics, decrease in medicine production staggered the growth of market. For instance, the rate of prescriptions for the EpiPen- auto-injector in the United States saw a decline during the COVID-19 pandemic. In 2020, Mylan, the manufacturer of the generic EpiPen, observed a notable decrease of 33.7% in the total number of prescriptions filled for this product.
Market Scope
Report Attributes |
Description |
Market Size in 2022 |
USD 1,655 Million |
Market Forecast in 2033 |
USD 4,712 Million |
CAGR % 2023-2033 |
9.20% |
Base Year |
2022 |
Historic Data |
2016-2022 |
Forecast Period |
2023-2033 |
Report USP |
Production,
Consumption, company share, company heatmap, company production capacity,
growth factors and more |
Growth Drivers |
Rising Cases of Anaphylaxi Expanding Awareness and
Education Advancements in Auto-Injector
Technology |
Segments Covered |
By Product
Type, By Application, By Distribution Channel |
Regional Scope |
North America, Europe, APAC,
South America and Middle East and Africa |
Country Scope |
U.S.; Canada;
U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia;
China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico;
Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies |
Viatris Inc., kaleo, Inc.,
Amneal Pharmaceuticals LLC., USWM, LLC., BIOPROJET, ALK-Abelló A/S, Teva
Pharmaceutical Industries Ltd., Bausch Health Companies Inc. |
Market Dynamics
The forecasted
period is expected to witness a substantial Compound Annual Growth Rate in the
global epinephrine market. This growth is likely to be driven by several
factors, including the expansion of the pharmaceutical industry, a growing
population susceptible to various allergies, advancements in production
techniques, and an increased prevalence of various chronic diseases. All of
these elements are poised to contribute to the expansion of the market.
As more
individuals develop allergies to sources such as dust, insect bites, venom, and
food additives, the market is expected to experience further growth. Ongoing
innovations and enhancements within the pharmaceutical sector are playing a
significant role in shaping the epinephrine market. The medulla of the adrenal
gland is responsible for releasing Epinephrine, which is commonly known as
adrenaline.
As a
fast-growing demand for auto-injectors injections in developed nations like the
U.S. and European countries, companies are placing a strong emphasis on
introducing new products into the market. Additionally, there is an improving
trend in reimbursement policies for these auto-injectors, which is particularly
significant given their high and often unaffordable costs for many patients.
The increasing
need for effective treatment options for severe allergic reactions, notably
anaphylaxis, is driving a rapid rise in the demand for these injections.
Additionally, it's important to note that the high cost associated with auto-injectors
is expected to act as a limiting factor for market growth throughout the
forecast period. For instance, in mid-August 2016, the price of a two-pack of
EpiPen manufactured by Mylan reached USD 600, representing an increase of more
than 500% compared to previous years. This significant price hike led to a
series of lawsuits against the company and had a notable impact on its market
position.
Overall, with
the help of existing and combination treatment therapy the Epinephrine Market is
expected to witness significant growth in the coming years, driven by the
introduction of new therapies and an increasing demand for effective
treatments. Additionally, there is a need for advance and effective research
and development to address the unmet needs of Epinephrine and to develop safe
and effective therapies with lower side effects.
Market Product Type Analysis
By Product Type,
the Epinephrine Market is Categories into Auto-injectors, Pre-filled Syringes, Ampoules
& Vials. The Auto-injectors segment accounts for the largest share of
around 69% in 2022.
The Auto-injectors
segment dominates the market due to more acceptance than the other products.
Moreover, auto-injectors are valuable for the emergency treatment of acute
anaphylaxis, with the convenience of intramuscular administration. They are
user-friendly, readily accessible, and easily portable, which drives demand for
these products in the market.
The pre-filled
syringes segment is anticipated to experience substantial growth throughout the
forecast period. This growth is attributed to its rapid response capability for
emergency allergic reactions and the rising demand from hospitals and clinics
for the treatment of various illnesses.
Market Application Analysis
By Application,
the Epinephrine Market is Categories into Anaphylaxis, Cardiac Arrest, Respiratory
Disorders and Others. The Anaphylaxis segment accounts for the largest share of
around 59% in 2022.
The Anaphylaxis segment
dominates the market because the growing prevalence of anaphylaxis globally.
The growth of this segment is being propelled by key players introducing
technologically advanced products for the treatment of anaphylaxis.
The respiratory
disorders segment is expected to exhibit a noteworthy Compound Annual Growth
Rate (CAGR) in the forecast period. This growth is driven by factors such as
increased awareness about available treatment options for respiratory disorders
and a rising rate of diagnosis and treatment for respiratory conditions.
Market Distribution Channel Analysis
By Distribution
Channel, the Epinephrine Market is Categories into Hospital Pharmacy, Retail
& Online Pharmacy. The Retail & Online Pharmacy segment accounts for
the largest share of around 61% in 2022.
The retail and
online pharmacy segment has established dominance in the market, holding a
significant share of the epinephrine market. This growth can be attributed to
factors such as the increasing number of retail and online pharmacies, the
ready availability of auto-injectors, and the easy accessibility of these
products through online platforms offered by the companies.
The growth of
the hospital pharmacy segment is driven by the rising number of emergency
hospital visits prompted by severe allergic reactions, cardiac arrests, and
respiratory conditions, necessitating immediate treatment.
Market Regional Analysis
North America
dominate the Epinephrine Market with the highest revenue generating market with
share of more than 51%. The North America dominate this market due to the rising
prevalence of Anaphylaxis, easy availability of medications, new products
launch. Additionally, strong presence of market player, well developed infra
structure, higher number of research favor growth of region.
Europe having
the second-largest market share in Epinephrine Market due to the rising demand
for targeted medication, focus on research and development found in Europe. Moreover,
favorable government policies in the region significantly contribute to expand
the market.
Asia-Pacific is
estimated the fastest growing CAGR in Epinephrine Market in forecasted period. This
is due to increasing in healthcare expenditure and the rise in research and
development activities in the pharmaceutical sector.
Competitive Analysis
The Epinephrine
Market is dominated by a few large companies, such as Viatris Inc., kaleo,
Inc., Amneal Pharmaceuticals LLC., USWM, LLC., BIOPROJET, ALK-Abelló A/S, Teva
Pharmaceutical Industries Ltd., Bausch Health Companies Inc.
There are some
of the recent developments of the Epinephrine Market:
November 2021,
Marathon Asset Management acquired kaleo, Inc. with the aim of expediting the
development, manufacturing, and commercialization of kaleo's medical products.
November 2020,
Mylan N.V. and Upjohn, Pfizer Inc.'s division, joined forces to establish a
global pharmaceutical company known as Viatris Inc. This partnership was formed
with the goal of developing products in therapeutic areas encompassing central
nervous system and anesthesia, infectious diseases, and cardiovascular
diseases, catering to a worldwide market.
In August 2018,
the FDA granted approval for the first generic versions of EpiPen and EpiPen
Jr, which are used to treat allergic reactions in both adults and children
weighing more than 33 pounds. This development was made possible by Teva
Pharmaceuticals.
By Product Type
·
Auto-injectors
·
Pre-filled Syringes
·
Ampoules & Vials
By Application Type
·
Anaphylaxis
·
Cardiac Arrest
·
Respiratory Disorders
·
Others
By Distribution Channel
·
Hospital Pharmacy
·
Retail & Online Pharmacy
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Epinephrine Market was valued at USD 1,655 million in 2022 and is estimated to grow at a CAGR of 9.20%.
Viatris Inc., kaleo, Inc., Amneal Pharmaceuticals LLC., USWM, LLC., BIOPROJET, ALK-Abelló A/S, Teva Pharmaceutical Industries Ltd., Bausch Health Companies Inc.
North America dominates the market with an active share of 51%, while North America is estimated to grow at a higher CAGR of 3.2%.
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