Seattle, Jan. 18, 2019 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global epinephrine market is estimated to be valued at US$ 2,040 million in 2017, and is projected to exhibit a CAGR of 11.0% over the forecast period (2018 – 2026).
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https://www.coherentmarketinsights.com/market-insight/epinephrine-market-2401
Key Trends and Analysis of the Epinephrine Market:
Market players are focused on adoption of inorganic growth strategy such as merger, acquisition, and collaboration in order to enhance its market share by commercializing its newly approved epinephrine injection in various regions. For instance, in July 2018, Adamis Pharmaceutical Corporation entered into an exclusive distribution and commercialization agreement with Sandoz Inc. Under this agreement, Sandoz will commercialize Adamis’ Symjepi product for emergency treatment of allergic reactions (Type I) including anaphylaxis.
Also, in 2015, Impax Laboratories, Inc., acquired Tower Holdings, Inc., which is the holdings company of Amedra Pharmaceuticals LLC. Amedra is a manufacturer of Adrenaclick (epinephrine injection, USP) auto-injector.
Furthermore, the small companies are engaged in developing novel epinephrine autoinjectors, which provides thermal stability, as the currently available products work optimally at specific temperatures, thereby introducing a lucrative opportunity for players in the global epinephrine market. For instance, Windgap Medical is working on developing a portable device that would mix a dry formulation of the drug into solution, thus providing temperature stability and a long shelf-life of medication for patients suffering from anaphylaxis due to an acute allergy attack.
Also, increase in number of pipeline products is expected to be a major factor boosting the market growth over the forecast period. For instance, in February 2018, Adamis Pharmaceuticals Corporation announced the FDA approval to review the supplemental New Drug Application (sNDA) for its low dose Symjepi product candidate indicated for emergency treatment of anaphylaxis. The low dose version (0.15mg) is intended to potentially treat patients weighing 33-65 pounds.
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Key Market Takeaways:
- The epinephrine market is expected to exhibit a CAGR of 11.0% during the forecast period (2018 – 2026), attributed to increasing number of generic cost-effective auto-injectors in the market, and strategic support of companies and government agencies for increasing generic epinephrine adoption. Furthermore, pipeline of epinephrine products is increasing and this is expected to fuel the market growth over the forecast period.
- Moreover, increasing incidence of anaphylaxis associated with food allergy is driving the market growth. According to a research conducted by the Centers for Disease Control and Prevention (CDC) in 2013, in the U.S., between 1997 and 2011, food allergies among children increased around by 50%. Moreover, according to the European Academy of Allergy and Clinical Immunology (EAACI), over 17 million people in Europe were affected by food allergy in 2015.
- Market growth is attributed to approval and launch of cost effective generic epinephrine products. For instance, in December 2016, Mylan introduced an authorized generic option to EpiPen (epinephrine injection, USP) Auto-Injector with a different packaging and same drug formulation, which was available at 50% lower prices than its branded version.
- Some of the major players operating in the global epinephrine market include Mylan N.V., Pfizer, Inc., Teva Pharmaceuticals Industries Ltd., Impax Laboratories, Inc., Kaleo, Inc., Adamis Pharmaceuticals Corporation, Bausch Health Companies, and ALK- Abello A/S.