Increasing Developments by Key Players Are Boosting the Growth of the Global Epinephrine Market

 

Epinephrine Market 

Epinephrine Market - Global Forecast to 2026, by Product Type (Auto-injector, Prefilled Syringes, and Ampoules and Vials), by Application (Anaphylaxis, Cardiac Arrest, Superficial Bleeding, Respiratory Disorders, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2018-2026.

Market Overview:

Epinephrine, also known as adrenaline, is a hormone and medication that plays a critical role in the body's stress response and emergency situations. It belongs to a class of compounds called catecholamines and is produced naturally by the adrenal glands, which are located on top of the kidneys. Epinephrine acts as a neurotransmitter and a hormone, exerting various physiological effects throughout the body.

Competitive Landscape:

Major players operating in the global Epinephrine Market include ALK-Abelló A/S, BIOPROJET, USWM, LLC., Amneal Pharmaceuticals LLC., Bausch Health Companies Inc., Kaleo, Inc., Viatris Inc., and Teva Pharmaceutical Industries Ltd.

Key Market Drivers:

Allergic diseases, such as asthma, food allergies, and allergic rhinitis, have been on the rise globally. The growing prevalence of allergies drives the demand for epinephrine, as it is the primary treatment for severe allergic reactions and anaphylaxis. The expanding population of individuals with allergies is expected to augment the growth of the global epinephrine market.

Anaphylaxis is a severe and potentially life-threatening allergic reaction that requires immediate medical intervention, including the administration of epinephrine. Increased awareness about anaphylaxis among healthcare professionals, patients, and the general public has resulted in early recognition and management of the condition, driving the demand for epinephrine.

Innovations in drug delivery devices, such as auto-injectors, have made the administration of epinephrine easier and more accessible. Auto-injectors are user-friendly and allow for prompt self-administration of epinephrine during emergencies. The availability of convenient and reliable drug delivery devices has increased the adoption of epinephrine. This is estimated to enhance the growth of the global epinephrine market. For instance, in November 2021, Kaleo, Inc. was acquired by Marathon Asset Management, in order to commercialize, manufacture and develop Kaleo’s medical products.

Governments and regulatory bodies worldwide have issued guidelines and recommendations for the management of anaphylaxis and the availability of epinephrine in various settings, including schools, public spaces, and healthcare facilities. These guidelines promote the use of epinephrine and contribute to market growth by increasing its accessibility and availability.

Covid-19 Impact Analysis:

The COVID-19 pandemic has highlighted the importance of respiratory health and the need to manage underlying conditions effectively. This increased focus on healthcare and hygiene measures may have led to improved management of allergies and anaphylaxis, including the appropriate use of epinephrine. This drove the growth of the global Epinephrine Market. For instance, in November 2020, Upjohn and Mylan N.V. created an international pharmaceutical company called Viatris Inc., in order to create therapies targeted to cardiovascular diseases, infectious diseases, the central nervous system, and anesthesia.

Key Takeaways:

·         North America is expected to dominate the growth of the global epinephrine market, owing to the high prevalence of allergies, strong healthcare infrastructure, and increasing awareness about anaphylaxis management. The presence of major market players and ongoing research activities also contribute to the region's market dominance. For instance, in May 2020, Adamis Pharmaceuticals Corporation and USWM, LLC. partnered in order to grant commercial rights to USWM, LLC., for distributing and commercializing SYMJEPI injection.

·         The Asia Pacific is witnessing high growth in the global epinephrine market, owing to the increasing awareness about allergies and anaphylaxis, growing healthcare expenditure, and improving access to healthcare facilities. The region's large population and rising disposable incomes also contribute to market expansion. For instance, according to the National Institutes of Health (NIH), around 3% of the Indian population is suffering from asthma.