Epinephrine Market
Number of pages: 100 | Report Format: PDF | Published date: March 17, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 1.66 billion |
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Revenue Forecast in 2031 |
US$ 4.18 billion |
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CAGR |
10.8% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023-2031 |
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Historical Year |
2021 |
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Segments Covered |
Product Type, Application, Distribution Channel, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global epinephrine market was valued at US$ 1.66 billion in 2022 and is expected to register a revenue CAGR of 10.8% to reach US$ 4.18 billion by 2031.
Epinephrine Market Fundamentals
Epinephrine is a hormone (also known as adrenaline) produced in the bloodstream by the adrenal gland in the kidneys. This hormone is largely involved in glycogen production. Epinephrine is also released with intense emotions, such as worry or rage, leading to rising blood pressure, rapid sugar metabolism, and enhanced muscle power. Under stressful conditions, electrical impulses from the brain are sent to the kidneys, releasing adrenalin or epinephrine. In addition to its capacity to provide blood to tissues under stress, adrenaline has become a critical hormone for maintaining circulatory homeostasis. Moreover, the epinephrine hormone assists in treating severe allergic responses, characterized by symptoms such as skin redness, difficulty swallowing and breathing, itching, wheezing, and an increased heart rate (i.e., tachycardia). Epinephrine is quite effective in treating anaphylaxis, a condition developed due to exposure to an allergen (insects, food, stings, or drugs) that the human body recognizes as an antigen. The EpiPen is an injectable device that distributes epinephrine, and patients with severe allergies have relied on it in the event of potentially fatal allergic responses.
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Epinephrine Market Dynamics
The adrenaline hormone aids in treating severe allergic reactions, including skin redness, trouble swallowing and breathing, itching, wheezing, and an elevated heart rate (tachycardia). Epinephrine has been demonstrated to be highly beneficial in the treatment of anaphylaxis. Anaphylaxis is a condition caused by the human body recognizing an allergen (insects, food, stings, or medications) as an antigen. By increasing blood flow to muscles, epinephrine aids in the fight-or-flight response. Additionally, market manufacturers are concentrating on epinephrine administration, which may be administered intravenously by injection into the muscles. Producers are developing medications for multiple delivery methods of epinephrine to boost the efficacy of this hormone, such as inhalation or injection just under the skin. An epinephrine auto-injector is a medical device that individuals use to treat anaphylaxis by injecting adrenalin or epinephrine. Moreover, these portable devices include a needle that administers a predetermined dosage of epinephrine. Increasing demand for epinephrine auto-injectors for rapid emergency response is likely to fuel the epinephrine market’s overall revenue growth. Furthermore, increasing new product approvals and product launches by major players is expected to boost revenue growth to a significant extent.
However, epinephrine is the most effective therapy for anaphylaxis; various research illustrate that it is unutilized due to its high cost, scarcity, and lack of knowledge about the technique and anaphylactic onset, among other factors. With substantial price increases over the last decade, the absence of cost-effective alternatives has made it difficult for patients to obtain this prescription.
Epinephrine Market Ecosystem
The global epinephrine market has been analyzed from four perspectives: product type, application, distribution channel, and region.
Epinephrine Market by Product Type
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Based on product type, the global epinephrine market can be further segmented into auto-injectors, pre-filled syringes, and ampoules & vials.
The auto-injectors segment registered the largest revenue share in the global market. Auto-injectors are one of the most preferred methods for administering epinephrine, as they offer several advantages over traditional methods, such as syringes and vials. Auto-injectors are convenient, even for people who have never administered epinephrine. They typically have a simple, one-step process that involves removing a safety cap and pressing the injector against the skin. Auto-injectors are designed to deliver a precise dose of epinephrine, which is important in treating severe allergic reactions. Unlike syringes and vials, which require careful measurement and mixing, auto-injectors come pre-loaded with a set amount of medication, so there is less risk of dosing errors. Auto-injectors are small and portable, which makes them easy to carry around in a purse, backpack, or pocket. This is particularly important for people with severe allergies who must always have epinephrine with them. Auto-injectors are designed with safety features that help prevent accidental needle sticks and overdoses. For example, many auto-injectors have a retractable needle that automatically withdraws after the injection, reducing the risk of injury. The auto-injector market is highly competitive, which has driven down the cost of these devices and made them more accessible to consumers. With so many options on the market, consumers have more choices and can select the auto-injector that best fits their needs.
Epinephrine Market by Application
Based on the application, the global epinephrine market can be further segmented into anaphylaxis, cardiac arrest, respiratory disorders, and others.
Anaphylaxis is a severe and potentially life-threatening allergic reaction triggered by various allergens, including certain foods, medications, insect stings, and latex. Epinephrine is the first-line treatment for anaphylaxis, and it works by rapidly constricting blood vessels and relaxing the airway muscles to improve breathing and blood pressure. The prevalence of allergies, including severe allergies that can trigger anaphylaxis, is increasing globally. As a result, the demand for epinephrine has also increased, driving the growth of the global epinephrine market. Anaphylaxis is a serious and potentially life-threatening condition that requires immediate treatment. Epinephrine is the only medication that can effectively reverse the symptoms of anaphylaxis. Epinephrine is a highly effective medication for treating anaphylaxis. It acts quickly to improve breathing, raise blood pressure, and reduce swelling, which can be critical in preventing severe and potentially fatal complications of anaphylaxis. There is growing awareness of anaphylaxis and the importance of carrying epinephrine auto-injectors for people at risk of severe allergic reactions. This has led to an increase in the number of prescriptions and sales of epinephrine auto-injectors, further driving the revenue growth of the global epinephrine market.
Epinephrine Market by Distribution Channel
Based on the distribution channel, the global epinephrine market can be further segmented into hospital pharmacies, retail pharmacies, and online pharmacies.
The hospital pharmacies segment accounts for the largest revenue share of the global market and is expected to retain its dominance during the projected period. Epinephrine is commonly used in hospitals to treat anaphylaxis and other serious conditions that require emergency treatment. As a result, hospital pharmacies are responsible for procuring, storing, and dispensing epinephrine to healthcare providers. Hospital pharmacies also play a critical role in producing specialized formulations of epinephrine, such as custom concentrations or diluted solutions, which are often used in critical care settings. Hospital pharmacies are subject to strict regulatory requirements and quality standards, which ensure that the epinephrine they dispense meets the highest safety and efficacy standards. This provides additional confidence to healthcare providers and patients that the epinephrine they receive is safe and effective.
Epinephrine Market by Region
Based on the region, the global epinephrine market can be further segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
In terms of revenue share, the North America epinephrine market topped all other regional markets in the global market in 2022, and this trend is likely to continue during the forecast period. Other key factors contributing to the region’s revenue growth include the increasing number of people suffering from life-threatening food allergies and the rising prevalence of chronic diseases and allergic reactions, the presence of robust healthcare infrastructure and advanced medical facilities, and the rapid launch of advanced epinephrine products and injections.
Throughout the projection period, the Asia Pacific epinephrine market is predicted to develop at a rapid pace. Increasing awareness about the effectiveness of treatment for life-threatening allergies in various countries across the region, rapid developments in the pharmaceutical industry, and a high adoption rate of epinephrine injectors are some of the key factors driving revenue growth in the Asia Pacific epinephrine market. Food allergies, insect stings, and some medicines are causing anaphylaxis in countries such as India, China, and Japan. This is increasing demand for epinephrine therapy, and the trend is projected to continue.
The Europe epinephrine market is expected to increase significantly over the forecast period, owing to an increasing incidence of cardiovascular illnesses and a rising rate of anaphylaxis. Furthermore, the rise in technologically improved goods is expected to drive the epinephrine market revenue growth in the region throughout the forecast time frame.
Epinephrine Market Competitive Landscape
The prominent players operating in the global epinephrine market are:
Epinephrine Market Strategic Developments
The global epinephrine market is expected to grow at a revenue CAGR of 10.8% during the forecast period.
Pfizer Inc., Teva Pharmaceutical Industries Ltd., Viatris Inc., and Kaleo Inc. are among the key players in the global epinephrine market.
The auto-injectors segment dominates the global epinephrine market.
Asia Pacific is expected to observe the highest revenue growth in the market during the forecast period.
The global epinephrine market was US$ 1.66 billion in 2022.
*Insights on financial performance are subject to the availability of information in the public domain