Epinephrine Market Exhibits Higher Growth Prospects during 2018-2026 | Key Players are Appraised By Global Players Pfizer, Inc., Teva Pharmaceuticals Industries Ltd., Impax Laboratories, Inc., Kaleo, Inc.

Epinephrine injection is used along with emergency medical treatment to treat life-threatening allergic reactions caused by insect bites, foods, medications, and other causes. The epinephrine auto-injectors are disposable, prefilled automatic injection devices, which are intended for self-administration of epinephrine solution in an emergency for on-the-spot treatment during early onset of symptoms of an anaphylactic reaction.

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Market Dynamics

Increasing prevalence of food allergies is a major factor driving epinephrine market growth. According to a research conducted by the Centers for Disease Control and Prevention (CDC) in 2013, in the U.S., from 1997 to 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. For instance, in November 2017, Kaléo, Inc. received the FDA approval for its supplemental New Drug Application (sNDA) for AUVI-Q, the first and only epinephrine auto-injector (EAI) specifically designed for the treatment of life-threatening allergic reactions, including anaphylaxis, in infants and small children weighing 16.5 to 33 pounds.

Increasing Support From Government And Insurance Agencies For Generic Products To Propel Epinephrine Market Growth

Launch of cost effective generic epinephrine products by the manufacturers is majorly attributed to the high price of EpiPen developed by Mylan NV. The price hike was not accepted by the public, as the drug price increased to more than 400% over a decade.

According to data provided by Elsevier Clinical Solutions’ Gold Standard Drug Database, 2016, the cost of EpiPen was US$ 103.50 in 2009, where the price increased up to US$ 264.50 in 2013. The price of the product further increased by 75% costing around US$ 461 in 2015, whereas the price reached to US$ 608.61 in 2016.

Furthermore, support of regulatory agencies is expected to streamline the approval of generic copies of drugs, thus allowing the launch of drug substitutes without affecting the clinical effect or safety profile. For instance, in October 2017, the commissioner of FDA announced plans to accelerate development of generic versions that combine a drug and a device. In November 2017, the FDA issued guidance for developing generic copies of complex medicines such as EpiPen to reach the market, without affecting safety and efficacy, thereby providing a lower-cost option and to meet the demand of drug shortages.

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Increase In Prevalence Of Chronic Respiratory Diseases To Bolster The Market Growth

Epinephrine is available in different doses and concentrations for delivery by different routes and for different indications, including respiratory disorders. According to the World Health Organization (WHO), 2018, Chronic Respiratory Diseases (CRDs) affect more than 1 billion people worldwide and asthma is a large contributor, affecting children, adults, and elderly population often throughout their entire lives. The WHO in 2017, stated that over 300 million patients suffered from asthma in 2013, and are expected to increase to over 400 million by 2025 globally.

North America dominates the global epinephrine market, owing to increasing number of patients suffering from respiratory disease such as asthma. For instance, according to the Asthma and Allergy Foundation of America, 2014, anaphylaxis is a severe life-threatening allergic reactions occurring at least 1 in every 50 people in the U.S., and its rate is as high as 1 in every 20 people.

Also, various players in the region are involved in developing innovative products, which in turn is expected to augment market growth. For instance, in July 2016, MannKind Corporation initiated developmental process for single-use disposable epinephrine inhaler, thereby providing an affordable and needle-free alternative.

Detailed Segmentation:

Global Epinephrine Market, By Product Type:
Auto-injector
Prefilled Syringes
Ampoules and Vials

Global Epinephrine Market, By Application:
Anaphylaxis
Cardiac Arrest
Superficial Bleeding
Respiratory Disorders
Others

Global Epinephrine Market, By Distribution Channel:
Hospital Pharmacies
Retail Pharmacies
Online Pharmacies

Global Epinephrine Market, By Geography:
North America
Europe
Asia Pacific
Latin America
Middle East
Africa

Key Players

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.

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This release was published on openPR.