Epinephrine Market Is Estimated To Witness High Growth Owing To Rising Cases of Anaphylaxis & Increasing Awareness Regarding Epinephrine Auto-Injectors

 

Epinephrine Market

The Global Epinephrine Market is estimated to be valued at US$ 2,040 million in 2017 and is expected to exhibit a CAGR of 11.0% over the forecast period (2018-2026), as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Epinephrine, also known as adrenaline, is a hormone and neurotransmitter produced by the adrenal glands in the body. It is commonly used in the treatment of anaphylaxis, a severe allergic reaction that can be life-threatening. Epinephrine auto-injectors are widely prescribed and used by individuals with a history of severe allergic reactions to be self-administered in emergency situations. The growing prevalence of anaphylaxis, along with increasing awareness regarding the importance of epinephrine auto-injectors, is driving the demand for epinephrine in the market.

Market Dynamics:
The epinephrine market is driven by two major factors:
1. Rising Cases of Anaphylaxis: The prevalence of anaphylaxis is increasing globally, mainly due to the rising incidence of allergies, particularly food allergies. According to the Food Allergy Research & Education (FARE), an estimated 32 million people in the United States have food allergies, and every three minutes, someone visits the emergency room due to a food-related allergic reaction. The need for prompt treatment of anaphylaxis through the administration of epinephrine auto-injectors is fueling the demand for epinephrine in the market.
2. Increasing Awareness Regarding Epinephrine Auto-Injectors: With growing awareness among the general population and healthcare professionals about the potential severity of allergic reactions and the importance of immediate treatment, there has been a significant increase in the demand for epinephrine auto-injectors. Various awareness campaigns and initiatives by organizations such as the World Allergy Organization (WAO) and the American Academy of Allergy, Asthma & Immunology (AAAAI) are contributing to the market growth.

SWOT Analysis:
Strengths:
1. Life-saving Treatment: Epinephrine auto-injectors provide immediate relief in anaphylactic reactions, making them a life-saving treatment option.
2. Wide Availability: Epinephrine auto-injectors are widely available and can be easily obtained with a prescription.

Weaknesses:
1. Short Shelf Life: Epinephrine has a relatively short shelf life, which can be a challenge for patients who may need to replace their auto-injectors frequently.
2. Limited Awareness in Developing Regions: The awareness regarding anaphylaxis and the availability of epinephrine auto-injectors is relatively lower in developing regions, impacting the market growth potential.

Opportunities:
1. Technological Advancements: Continuous advancements in epinephrine auto-injector technology, such as the development of smaller and more user-friendly devices, can expand the market opportunities.
2. Emerging Economies: The increasing prevalence of allergies and growing disposable incomes in emerging economies present untapped opportunities for market growth.

Threats:
1. Low Adherence to Epinephrine Usage: Some individuals may fail to adhere to the recommended use of epinephrine auto-injectors due to fear, lack of understanding, or discomfort in administering the injection.
2. Stringent Regulatory Requirements: The regulatory requirements for the approval and marketing of epinephrine auto-injectors can pose challenges for manufacturers.

Key Takeaways:
- The Global Epinephrine Market Demand is expected to witness high growth, exhibiting a CAGR of 11.0% over the forecast period, due to increasing cases of anaphylaxis and rising awareness regarding the importance of epinephrine auto-injectors.
- North America is expected to dominate the market, driven by the high prevalence of allergies and the availability of advanced healthcare infrastructure.
- Key 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.

In conclusion, the global Epinephrine market is witnessing significant growth due to the increasing cases of anaphylaxis and the growing awareness regarding the importance of epinephrine auto-injectors. However, challenges such as low adherence and stringent regulatory requirements need to be addressed to capitalize on the market's full potential.

Comments

Post a Comment

Popular posts from this blog

Forging has significant application in creation of various metal for wide range of applications

Image
Forging refers to any process that produces metal from scratch by subjecting it to an external force. Metal forgers can be persons or machines. This techniques may involve grinding (for example, to produce alloyed steel) or may involve the application of pressure to apply heat to the metal piece until it is malleable. The actual process depends on various factors, including the material being forged, its shape, and the degree of stress that is placed on it. Forged grain is the product of Forging with grains of metals pushed against each other through a forge-like tool and into the cladding that forms the final shape of the metal after it has been done. It is the principal production process in most metals. It uses local or repetitive thrusts delivered by a hammer or die to apply mechanical blows to the metal piece until it becomes malleable. It is frequently classified according to the speed at which it's done: fast, cold, or hot. There are many types of forgers available today...
Read more

Ginseng Market Outlook, Analysis and forecast up to 2028

Image
  Ginseng Market Ginseng is a slow-growing perennial plant with green oval-shaped leaves and meaty roots that can persist for more than a century. Ginseng is classified into two types: American ginseng and Asian ginseng. Panax quinquefolius is the scientific name for American ginseng, whereas Panax ginseng is the scientific name for Asian ginseng. Ginseng is widely used as a herb to increase the body's energy levels. Ginseng's antioxidant and anti-inflammatory qualities serve to enhance the immune system, lowering the risk of viral and microbial infections. Ginseng also helps to lower the risk of diseases such as lung cancer, skin cancer, and liver cancer. Other health advantages of ginseng include lower blood sugar levels and improved cognitive functions such as memory and conduct. Ginseng is mostly grown in the United States, Canada, and South Korea. Ginseng has been used as a herbal medicine in China for generations, and the country is one of its largest users. Asia Pacifi...
Read more

The Vaccine Contract Manufacturing Industry to Flourish Due to Urgent Need to Develop Reliable and Cost-Effective Vaccines against Covid-19

Image
Germany Vaccine Contract Manufacturing industry is expected to witness significant growth in the near future, due to emergence of Covid-19. In Germany, from 3 January 2020 to 4:06pm CEST, 18 August 2021, there have been 3,835,375 confirmed cases of COVID-19 with 91,921 deaths, reported to WHO. As of 15 August 2021, a total of 97,884,043 vaccine doses have been administered. The increasing demand for safe and cost-effective vaccines due to unmatchable quality, consistent delivery, and unparalleled security, have contributed to the increasing growth and scope of this industry. The increasing demand for vaccines and resulting profit potential have led to significant growth in the number of contract manufacturing plants located across the world. A major focus of such plants is developing cost effective, high quality vaccines that could be made available to public health organizations and other medical organizations. Several new and innovative technologies are also being developed to man...
Read more