Epinephrine, also known as adrenaline, is a hormone and neurotransmitter. It is an injection that is used to treat life-threatening allergic reactions, also referred to as anaphylaxis, which may be caused by food, medications, insect bites or stings. The global epinephrine market is largely driven by the increasing prevalence of chronic respiratory diseases along with rising anaphylaxis cases. Epinephrine comes as an autoinjector or manual injector and works by relaxing muscles in the airways and tightening blood vessels, which increases oxygen in the blood and eases wheezing and chest tightness. It has minimal side effects and provides rapid relief making it the drug of choice for respiratory distress episodes.
The Global epinephrine market is estimated to be valued at US$ 2.25 Bn in 2024 and is expected to exhibit a CAGR of 17% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the epinephrine market are PVS Chemicals, BASF SE, Akzo Nobel N.V., DowDuPont Inc., Unigel Group, Boliden Group, Ineos Enterprises Limited, Trident Chemicals, Aurubis AG, Climax Molybdenum B.V., and Amal Ltd. PVS Chemicals and BASF SE collectively account for over 35% of the global epinephrine market share due to their vast product portfolios and global distribution networks.
The growing demand for epinephrine injectors can be attributed to the rising prevalence of respiratory diseases like asthma, and increasing anaphylaxis cases caused mainly by food allergies. According to recent reports, over 50 million Americans currently suffer from food allergies, with shrimp, milk, fish, wheat, soy, and tree nuts being the top triggering foods.
The Global Epinephrine Market is witnessing strong expansion across regions due to the growing cases of life-threatening allergies and favorable regulatory guidelines. For instance, in 2018, the US FDA approved Symjepi, the first generic epinephrine auto-injector to treat anaphylaxis. The approval strengthened market competition and made epinephrine more affordable for larger population segments.
Market Drivers
The rising prevalence of chronic respiratory diseases such as asthma and COPD is a major factor fueling demand for epinephrine. As per the CDC, over 25 million Americans currently suffer from asthma, out of which 7 million are children. Another key driver is the growing incidences of life-threatening anaphylaxis caused mainly due to food allergies. The increasing public awareness about emergency drugs for managing anaphylaxis has propelled the demand for epinephrine auto-injectors in recent years. Favorable regulatory guidelines supporting generic drugs along with rising healthcare spending further support the epinephrine market growth over the forecast period.
The current geopolitical situation is having a significant impact on the growth of the epinephrine market. With rising geopolitical tensions and instability across several regions, many countries are prioritizing increased healthcare spending and preparation for emergencies. This has boosted demand for life-saving drugs like epinephrine used for treating severe allergic reactions and anaphylaxis. However, global supply chain disruptions caused by the pandemic and ongoing conflicts are hampering unhindered access to epinephrine. Manufacturers are facing difficulties in procuring raw materials and face uncertainties regarding export regulations. This can negatively impact the production and supply of epinephrine injections. Going forward, companies must diversify sourcing, establish backup manufacturing capacities globally, and enter into long term supply contracts to minimize risks from geopolitical unpredictability.
North America currently leads the epinephrine market in terms of value, accounting for over 35% share. This is attributed to high prevalence of allergies as well as wider insurance coverage and affordability of epinephrine auto-injectors in the region. However, the market in Asia Pacific is growing at the fastest pace owing to rising incidences of anaphylaxis, growing healthcare expenditures, and increasing acceptance of epinephrine as the first line treatment for allergic reactions in the region. China, India, and other Southeast Asian countries are expected to drive the future demand. Initiatives by governments as well as companies to raise awareness about proper epinephrine usage can further aid the market expansion.
Geographically, North America has the largest concentration of epinephrine market value currently. This can be attributed to factors like growing cases of anaphylaxis induced by food, insect stings, latex etc., favorable reimbursement policies, adequate health insurance coverage, improving accessibility of auto-injectors, and presence of major players. On the other hand, Asia Pacific region is witnessing fastest growth in the epinephrine market value owing to rising affluence, growing patient awareness, increasing healthcare expenditure, and rising trend of medical tourism. Countries like India, China, South Korea and others are forecast to be key contributors to future market demand. Governments as well as companies in these regions have taken initiatives to boost epinephrine accessibility and affordability which will aid faster market uptake.
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