Epinephrine Market is Anticipated to Witness High Growth Owing to Increasing Cases of Anaphylaxis

Epinephrine, also known as adrenaline, is a hormone and medication that is commonly used to treat allergic reactions, including anaphylaxis. It works directly on α and β adrenergic receptors. As a medication for medical use, it is most commonly used for treatment of anaphylaxis including that due to food, medications, insect bites and other allergies. It is also used for cardiac arrest and some types of nasal decongestion. The epinephrine market consists of autoinjectors and prefilled syringes. Autoinjectors are easy to administer and deliver a pre-measured dose of epinephrine for quick relief during an allergic emergency. Prefilled syringes provide epinephrine for administration by medical professionals in the hospital setting.

The Global Epinephrine Market is estimated to be valued at US$ 2.25 Mn in 2024 and is expected to exhibit a CAGR of 17% over the forecast period of 2024 to 2030.

The growing prevalence of food and drug allergies as well as increasing awareness about anaphylaxis and availability of autoinjectors are expected to be major growth drivers for the epinephrine market.

Key Takeaways
Key players operating in the epinephrine market are PVS Chemicals, BASF SE, Akzo Nobel N.V., DowDuPont Inc. Key players are focused on developing generic versions of branded epinephrine products to cater to a wider population base.

There is a rise in healthcare expenditure globally which is creating opportunities for companies to expand their epinephrine product portfolios including autoinjectors and prefilled syringes. Major players are focusing on developing devices with extended shelf life, lower cost, and ease of use.

The Global Epinephrine Market leaders are expanding their manufacturing footprints and distribution networks across developing regions of Asia Pacific and Latin America to tap into higher growth opportunities. These regions are witnessing rising incidences of anaphylaxis due to growing food intake variations and adoption of Western lifestyle.

Market Drivers
Increasing cases of anaphylaxis due to rising food allergies and prevalence of asthma is a major market driver. As per Asthma and Allergy Foundation of America, over 50 million Americans suffer from allergies annually. Availability of epinephrine autoinjectors over-the-counter coupled with growing awareness about their use during medical emergencies is fueling market revenues.

Market Restrain
Stringent regulations for approval of generic epinephrine products is a major challenge for biosimilar manufacturers. High costs associated with R&D and clinical trials limits market entry for small players. Expensive branded epinephrine devices also act as a pricing barrier in developing nations. Storage requirements and shorter shelf life necessitate frequent supply replenishments, increasing overheads.

Segment Analysis
This market is segmented based on dosage form and distribution channels. The autoinjector segment dominates the market as epinephrine autoinjectors are easy-to-use and provide quick relief in case of severe allergic reactions or anaphylaxis. With increasing awareness about anaphylaxis treatment, demand for epinephrine autoinjectors is increasing in developing regions as well. The retail pharmacy distribution channel is the major revenue generating segment in the epinephrine market as autoinjectors are easily available over the counter at retail pharmacies.

Global Analysis
On the basis of region, North America governs the overall epinephrine market and is projected to witness highest growth during the forecast period. This is attributed to rise in incidence of food allergies, increasing awareness about anaphylaxis treatment and presence of key players in the region. The market in North America is set to witness a steady surge due to growing demand for epinephrine products in the US and Canada. The Asia Pacific market is anticipated to be the fastest growing market over the forecast period owing to growing healthcare expenditure, large population base suffering from asthma and increasing presence of key players in countries such as India and China.

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