New York, July 06, 2023 (GLOBE NEWSWIRE) -- The global epinephrine market is estimated to grow at a CAGR of ~12% from 2023 to 2033. The market is estimated to garner a revenue of ~USD 4 billion by the end of 2033, up from a revenue of ~USD 1 billion in the year 2022. The growth of the market is attributed to the increasing prevalence of multiple allergic reactions worldwide as well as the increasing number of neurological disorders. Each year, approximately 6 million people worldwide die as a result of neurological diseases.
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In addition, the increasing proportion of individuals prone to multiple allergies is another key factor expected to boost market growth during the forecast period. Epinephrine, also known as adrenaline, is a hormone and neurotransmitter made by the adrenal glands. A shot of adrenaline is given to treat a severe allergic reaction. As a neurotransmitter in the central nervous system, it is a signaling molecule that helps transmit nerve signals through nerve endings to another nerve cell, muscle cell, or glandular cell, also known as catecholamine. This hormone makes the heart beat faster and pumps blood to stressed tissues. This is essential for maintaining a healthy cardiovascular system.
Global Epinephrine Market: Key Takeaways
- Market in North America to propel highest growth
- The anaphylaxis segment to garner the highest growth
- Market in Europe to grow at a highest rate
Spiking Upsurge in Chronic Respiratory Disorders across the Globe to Boost Market Growth
Respiratory disease refers to a class of pathogenic diseases such as COPD and asthma that affect the breathing of an organism. In higher organisms, respiration enables gas exchange, where organisms take in oxygen and release carbon dioxide. The airways, including the alveoli, bronchi, bronchioles, pleura, pleural space, trachea, and respiratory muscles and nerves, are where respiratory disease occurs. Therefore, the increase in chronic respiratory diseases worldwide is expected to boost the growth of the global market. According to the World Health Organization (WHO), 3.23 million people died of chronic obstructive pulmonary disease (COPD) in 2019. This is the third-leading cause of death in the world. Hence, this is expected to be a major factor in boosting the market growth of the epinephrine. The rising prevalence of various types of allergic reactions is also expected to significantly contribute to market growth over the forecast period. For instance, more than 51 million people in the United States suffer from various allergies each year. These allergic reactions are the sixth most common cause of chronic illness in the region.
Global Epinephrine Market: Regional Overview
The global market of epinephrine is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Rising Number of Patients Suffering from Respiratory Diseases to Drive the Market Growth in North America Region
The epinephrine market in North America is estimated to garner the largest revenue by the end of 2033. The regional market growth is mainly backed by the rising number of patients suffering from respiratory diseases such as asthma and the rapidly growing population in the region. According to a health survey conducted in the United States between the years 2018 and 2020, the increase in asthma cases among young people aged 18 and over reached 21,030,480, an increase of nearly 8.3%. Moreover, rising awareness of allergies, along with the increasing prevalence of cardiac arrest in humans, is another key factor expected to further drive market growth throughout the forecast period in this region. Emotions such as fear, anxiety, and anger can release epinephrine. Epinephrine use in a variety of medical settings has benefits such as enhanced cardiovascular life support, improved neurological outcomes, rapid absorption, cardiac stimulation, balanced blood pressure, improved breathing, and reduced facial swelling. Its usage is increasing rapidly, with benefits including first-line treatment for the lips and throat and life-threatening allergic reactions. In addition, adrenaline reduces the body's sensitivity to allergens.
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Increasing Anaphylaxis Rate to Drive Growth in Europe Region
The market of epinephrine in the Europe region is estimated to garner the highest CAGR by the end of 2033. The growth of the market in this region can primarily be attributed to the fact that the prevalence of cardiovascular disease is rising with the increasing rate of anaphylaxis in this region. For instance, cardiovascular disease remains the leading cause of death in Europe, accounting for approximately 47% of all deaths. In Europe, more than 5 million people die each year from cardiovascular disease. Moreover, the rise of technologically advanced products is another key factor expected to boost the epinephrine market size over the forecast period in the region. In addition to emergency care, epinephrine injections are used to treat life-threatening allergic reactions caused by insect bites and stings, food, drugs, latex, and other factors. is injected into the thigh muscle. Epinephrine belongs to a class of drugs known as alpha and beta-adrenergic agonists (sympathomimetic). It works by relaxing the muscles of the airways and constricting the blood vessels. Epinephrine injections come in the form of a pre-filled auto-injector containing a solution (liquid) and a vial for injection subcutaneously (under the skin) or intramuscularly (intramuscularly). It is often given as needed at the first signs of a severe allergic reaction.
Global Epinephrine Market, Segmentation by Application
- Cardiac Arrest
- Anaphylaxis
- Superficial Bleeding
- Respiratory Disorders
- Others
Amongst these five segments, the anaphylaxis segment is anticipated to hold the largest share over the forecast period. The growth of this segment is attributed to the increasing development of technologically advanced products by key players and the increasing prevalence of anaphylaxis in pediatrics and adults worldwide. For instance, in one clinical study, the prevalence of anaphylaxis in children was observed to range from 1 to 762 per 100,000 person-years. This prevalence varies across continents. In Europe, it was between 2.4 and 762 per 100,000 person-years, while in North America, it was between 0.8 and 72 per 100,000 person-years. Furthermore, the incidence of anaphylaxis in the pediatric population worldwide ranges from 0.05% to 1.7%.
Global Epinephrine Market, Segmentation by Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Amongst these three segments, the "online pharmacies" segment is anticipated to hold a significant share over the forecast period. The segmental growth can be largely attributed to the increasing usage of the internet by individuals and easy access to online pharmacies via their websites or applications. In 2020, 60% of the world's population had access to the internet. Furthermore, using an online pharmacy is more convenient for users, as they can get their corresponding medications without leaving their homes. An online pharmacy, internet pharmacy, or mail-order pharmacy is a pharmacy that operates over the Internet and sends orders to customers by email, mail order company, or online pharmacy web portal. An online pharmacy is a business that deals with the dispensing and sale of prescription and non-prescription drugs, just like a traditional pharmacy. However, online pharmacies take orders online and ship drugs to their destinations by mail. Online pharmacies sell prescription drugs (drugs that require a doctor's prescription), beauty products, and over-the-counter (OTC) drugs (drugs that do not require a doctor's prescription). Additionally, some of these online pharmacies offer value-added services such as doctor visits.
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Global Epinephrine Market, Segmentation by Application
- Cardiac Arrest
- Anaphylaxis
- Superficial Bleeding
- Respiratory Disorders
- Others
Few of the well-known market leaders in the epinephrine market that are profiled by Research Nester are Teva Pharmaceuticals Industries Ltd., Amneal Pharmaceuticals, Inc., Adamis Pharmaceuticals Corporation, Antares Pharma, Inc., Pfizer Inc., kaleo, Inc., Abbott Laboratories, and other key market players.
Recent Development in the Global Epinephrine Market
- Pfizer Inc. has announced that it will work with the FDA to extend the expiration date for certain lots of EpiPen 0.3 mg auto-injectors after confirming stability data. Pfizer is committed to ensuring a stable supply of these specialty product lots for patient peace of mind.
- Teva Pharmaceuticals Industries Limited announced that the generic version of the FDA-cleared EpiPen Jr 1 (Epinephrine Injection, USP) Auto-Injector 0.15 mg is now available in the United States. Now available in pharmacies nationwide.
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