Market Size – USD 2.44 Billion in 2020, Market Growth – at a CAGR of 8.7%, Market Trends- Rapidly rising demand for epinephrine auto-injectors
NEW YORK, NY, UNITED STATES, April 19, 2022 / EINPresswire.com/ – The global epinephrine market size is expected to reach USD 4.76 Billion by 2028 at a CAGR of 8.7%, according to the latest report by Reports and Data. Increasing demand for auto-injectors owing to their quick administration during emergency situations, increasing incidence of severe allergic reactions and anaphylactic shock, and technological advancements in epinephrine injectors are key factors expected to drive market revenue growth over the forecast period. Epinephrine is widely used to restore cardiac rhythm, control asthma, and treat life-threatening allergic reactions. This is also a key factor boosting demand for epinephrine products and is expected to contribute to market growth going ahead.
Epinephrine, or adrenaline, is a hormone and neurotransmitter having vasoconstricting, intraocular pressure-reducing, and bronchodilating activities. Epinephrine is one of the most widely used agents as it can function both as a medication and hormone. Epinephrine has been approved by the FDA for the treatment of type 1 hypersensitivity reaction, cardiac arrest, and asthma attacks and also has several off-label uses. Epinephrine plays an important role in fight-or-flight response by increasing blood flow to muscles. Based on the diagnosis, epinephrine administration varies such as it can be given intravenously, injection into muscles, by inhalation, or by injecting just under the skin.
Increasing demand for epinephrine auto-injectors for quick emergency response is expected to be a key market growth driving factor. However, side effects of epinephrine such as high blood pressure, headache, abnormal heart rhythm in some cases, and anxiety among others are can hamper market growth to a certain extent over the forecast period.
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Some Key Highlights from the Report:
Epinephrine auto-injector segment is expected to register significant revenue growth over the forecast period owing to growing demand for prefilled auto-injectors due to its quick response, launch of affordable generic epinephrine products, and innovations in auto-injectors.
Anaphylaxis segment is expected to account for a significant share in the global market owing to increasing incidence of anaphylactic allergic reactions and increasing number of people susceptible to allergies. Epinephrine is primary treatment approach for anaphylaxis.
North America is expected to account for the largest revenue share in the global market owing to increasing number of people with life-threatening food allergies, rise in chronic illnesses due to allergies, presence of robust healthcare facilities, and rapid launch of advanced epinephrine injections and products .
Key companies in the market include Abbott Laboratories, Lincoln Medical, Ltd., Mylan, Inc., Sanofi SA, Amedra Pharmaceuticals LLC and ALK Abello A / S.
In June 2021, Alerje Inc., which is a food allergy management company based in Detroit, introduced a smartphone case equipped with auto-injector that rapidly releases epinephrine during severe allergic reactions. It will also automatically alter the patients’ support circle through Alerje smartphone app when a dose is discharged from the case.
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The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:
Epinephrine Market Segmentation:
Type Outlook (Revenue, USD Million; Volume, Tons, 2018-2028)
Epinephrine Prefilled Syringe
Application Outlook (Revenue, USD Million; Volume, Tons, 2018-2028)
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Rest of Europe
Rest of APAC
Rest of LATAM
Middle East & Africa
Rest of MEA
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