Ottawa, Dec. 03, 2024 (GLOBE NEWSWIRE) -- The global epinephrine market size was valued at USD 3.11 billion in 2024 and is predicted to hit around USD 6.39 billion by 2033, a study published by Towards Healthcare a sister firm of Precedence Statistics.
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Exploring the Growth Potential of the Market
Epinephrine is a hormone and a neurotransmitter produced by adrenal glands. It is used to treat life-threatening allergic reactions caused by medications, foods, insect bites, and other causes. The epinephrine market is experiencing rapid growth, primarily due to the increasing incidence of anaphylaxis and other severe allergic reactions. Anaphylaxis is a severe allergic reaction that may create difficulties in breathing, which can be life-threatening. According to a report published by the World Allergy Organization Journal in June 2024, anaphylaxis is estimated to have a lifetime prevalence ranging from 0.3% to 5.1% globally, with an incidence rate of 50–112 episodes per 100,000 persons per year.
As more people are diagnosed with severe allergies, the need for effective treatments increases. The growing awareness about the availability of treatments further contributes to market expansion. In addition, the increasing demand for epinephrine autoinjectors, including EpiPen, is likely to boost the market growth.
Epinephrine Market Trends
- Rising Incidence of Allergic Conditions: With the increasing incidence of conditions, including food allergies, asthma, and insect stings, the demand for epinephrine is increasing, significantly boosting the growth of the market. The WHO estimates that the global prevalence of food allergy is about 4% in children and 1% in adults, demonstrating an increase over the past two decades. Thus, an increased burden of allergic reactions worldwide has increased attention toward management strategies by health agencies.
- Expanding Healthcare Infrastructure: Expanding healthcare infrastructures in emerging markets is a major factor creating immense opportunities in the market. A report from the World Bank highlighted that a large number of developing countries are directing their resources toward improving their healthcare sector whereby, among the subsectors that are receiving enhanced focus is emergency medical treatment. Thus, healthcare establishments in the countries of Southeast Asia, Africa, and Latin America are getting equipped to manage severe allergic reactions, thus boosting the demand for epinephrine injectors. Furthermore, agencies on public health, such as WHO and UNICEF, have embarked on an advocacy program on the dangers of anaphylaxis in areas where access to health facilities is low. These initiatives boost the distribution of epinephrine among the underserved areas.
- Integration of Artificial Intelligence (AI) in Epinephrine Auto-injectors: Artificial intelligence (AI) is revolutionizing the epinephrine market. AI technology is increasingly being incorporated into epinephrine injectors, leading to the development of smart injectors. By implementing AI technologies, these injectors can perform real-time triage and identify signs and symptoms of possible allergy episodes. The National Institutes of Health (NIH) states that AI has the potential to greatly reduce inefficiencies in healthcare, improve patient flow and experiences, and enhance both caregiver satisfaction and patient safety throughout the care pathway. This technology helps identify patients at risk of deterioration and provides timely care. Additionally, it is possible to collect usage patterns, measure the effectiveness of the applied treatments, refine the device to make it suitable for the patient, and ensure the best treatment is given. This technology enhances the utilization, efficiency, and personalized prescription of epinephrine for anemias, improving its utilization by all the different groups.
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Regional Insights
North America Epinephrine Market: Market Dynamics and Future Outlook
North America dominated the market with the largest share by 36% in 2023. This is mainly due to its well-established healthcare infrastructures, heightened awareness about allergic reactions, and the wide availability of epinephrine. The region also boasts a large number of market players. Moreover, the increasing incidence of food allergies and the rising approval of new formulations are expected to boost the regional market in the coming years.
- According to the NIH, food allergies affect nearly 32 million Americans, including 1 in 13 kids, boosting the need for epinephrine auto-injectors.
Asia Pacific: The Emerging Region in the Epinephrine Market
Asia Pacific is anticipated to experience the fastest growth in the market throughout the assessment years. The rising incidence of allergies in countries such as India, China, and Japan, coupled with improvements in healthcare systems, is driving the market growth. Even the World Allergy Organization (WAO) estimates that the incidence of allergic rhinitis is rising, particularly in urban places across Asia Pacific.
- According to a report published by NIH in 2023, the prevalence of food allergy in the Chinese population ranged from 4.0% to 8.2%, highlighting the need for epinephrine.
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Epinephrine Market Segmentation
- By type, the auto-injector segment held the largest share of the market in 2023 due to its increased use in emergencies. Auto-injectors are user-friendly and designed for self-administration, eliminating the need for trained personnel. The increasing instances of allergies among children further contribute to segmental growth. According to the Centers for Disease Control and Prevention (CDC), the number of children with allergies in the U.S. has been on the rise and requires urgent interventions such as epinephrine injections. Nearly 1 in 3 adults and more than 1 in 4 children in the U.S. reported having a seasonal allergy or food allergy in 2021.
- By application, the anaphylaxis segment dominated the market with the largest share in 2023. The rising incidence of severe, life-threatening anaphylactic reactions is a key factor that bolstered the segment. However, epinephrine is a first-line treatment recommended by doctors for treating allergies.
- By distribution channel, the retail pharmacies segment led the market in 2023, owing to the wide availability of epinephrine injections to these pharmacies. Moreover, the online pharmacies segment is anticipated to grow at the fastest rate in the coming years. These pharmacies offer various discounts and doorstep delivery, attracting more consumers.
Competitive Landscape
Key players operating in the global epinephrine market are Abbott Laboratories, Amedra Pharmaceuticals LLC, ARS Pharmaceuticals, Aquestive Therapeutics, Bryn Pharma LLC, DMK Pharmaceuticals, Henry Schein, Kaleo, Inc., Nasus Pharma, Oval Medical Technologies Ltd., Pfizer, Sanofi S.A., Teva Pharmaceuticals, Verus Pharmaceuticals, B.V., and Viatris, Inc. These companies are making efforts to bring new innovations to the market.
ARS Pharmaceuticals continues to bring innovations to the market. It received FDA approval for Neffy, the first nasal spray for the treatment of anaphylaxis, providing a needle-free alternative to epinephrine injections like the EpiPen.
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Recent Developments
- In October 2024, American Regent launched FDA-approved 30 ml Epinephrine Injection, USP, for emergency treatment of allergic reactions (Type I), including anaphylaxis from various triggers and exercising-induced anaphylaxis. It is also indicated to increase mean arterial blood pressure in adult patients with hypotension associated with septic shock.
- In August 2022, Amphastar Pharmaceuticals, Inc. announced that the U.S. Food and Drug Administration (FDA) has approved its New Drug Application (NDA) for Epinephrine injection USP, 1 mg/10mL (0.1 mg/mL) single dose pre-filled syringe.
Segments Covered in the Report
By Product Type
- Auto-injector
- Prefilled Syringe
- Ampoules and Vials
By Application
- Anaphylaxis
- Cardiac Arrest
- Superficial Bleeding
- Respiratory Disorders
- Others
By Distribution Channel
- Retail Pharmacies
- Online Pharmacies
- Hospital Pharmacies
By Region
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa (MEA)
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Towards Healthcare is a leading global provider of technological solutions, clinical research services, and advanced analytics to the healthcare sector, committed to forming creative connections that result in actionable insights and creative innovations. We are a global strategy consulting firm that assists business leaders in gaining a competitive edge and accelerating growth. We are a provider of technological solutions, clinical research services, and advanced analytics to the healthcare sector, committed to forming creative connections that result in actionable insights and creative innovations.
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