The global epinephrine market is expected to reach US$ 4,207.88 Mn in 2027 from US$ 2,247.87 Mn in 2019
The market is estimated to grow with a CAGR of 8. 3% from 2020-2027. The growth of the epinephrine market is estimated to due to driving factors such as increasing anaphylaxis cases and introduction of generic version of epinephrine are expected to boost the market growth over the years.
New York, March 18, 2020 (GLOBE NEWSWIRE) – Reportlinker.com announces the release of the report "Epinephrine Market to 2027 - Global Analysis and Forecasts By Product Type ; Application ; Distribution Channel ; and Geography" -
On the other hand the market is expected to have restricted growth due to lack of availability of epinephrine auto injectors and their low-cost alternatives.
Epinephrine is the most effective treatment for anaphylaxis; however, various studies indicate underutilization of this drug due to high cost, lack of availability, unawareness regarding usage procedure and anaphylactic onset, etc.With steep price hike over the past decade, the lack of affordable alternatives have caused trouble for the patient to access this drug.
EpiPen is an injection device that dispenses epinephrine, and people with severe allergies have been relying on it in case of life-threatening allergic reactions.Epinephrine alone is a generic drug, but the EpiPen is a drug-device combination product, which makes it difficult to replicate and get FDA approval for competitors.
Therefore, there are limited number of players in this space.Moreover, the demand for epinephrine has been on the rise with limited product supply.
As per the Pew Charitable Trusts, demand for epinephrine auto-injectors has increased in the last few years, and the number of EpiPen prescriptions in the US grew from ~2.5 million in 2011 to 3.5 million in 2015. The growth can be attributed to the high demand from schools.
Mylan has been a dominant player in the epinephrine auto-injector market since long.However, in 2018, Teva Pharmaceutical received the generic version FDA approval for its epinephrine auto-injector.
This approval is the first generic version of the most widely prescribed epinephrine auto-injector in the US.It is expected to advance access to lower cost, safe, and effective generic alternatives in the future.
Patients usually don’t have enough choice in medication for such life-threatening conditions; however, as more generics enter the market, providers and patients have more choices.
The epinephrine market is segmented into type, application and distribution channel.Based on type the market is segmented as prefilled syringes, auto-injectors, ampoules and vials.
On the basis of application the market is divided into anaphylaxis, superficial bleeding, respiratory disorders, and cardiac arrest. And based on the distribution channel the market is categorized as retail pharmacies, hospital pharmacies, and online pharmacies
Some of the important primary and secondary sources included in the report are, Food and Drug Administration (FDA), World Health Organization (WHO), Brazilian Society of Allergy and Immunology, Australasian Society of Clinical Immunology and Allergy, European Medicines Agency, Dubai Health Authority, and others.
https://finance.yahoo.com/news/global-epinephrine-market-expected-reach-184803666.html