Global Epinephrine Autoinjector Market is Anticipated to Witness High Growth Owing to Growing Prevalence of Anaphylaxis

 
Global Epinephrine Autoinjector Market
Global Epinephrine Autoinjector Market

An epinephrine autoinjector delivers a dose of epinephrine (adrenaline) through easy-to-use, prefilled injection devices to treat life-threatening allergic reactions known as anaphylaxis. Epinephrine treatment is the first-line treatment for anaphylaxis. An autoinjector allows for quick, safe and easy self-administration of epinephrine during a severe allergic reaction emergency. The demand for epinephrine autoinjectors is driven by the growing prevalence of food allergies, insect stings and drug allergies that can potentially lead to anaphylaxis.

 The global epinephrine autoinjector market is estimated to be valued at US$ 2.50 Bn in 2024 and is expected to exhibit a CAGR of 8.9% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Global Epinephrine Autoinjector Market Trends are Mylan, Teva Pharmaceutical, Impax Laboratories, Adamis Pharmaceuticals Corporation, Pfizer, ALK Abello, Lincoln Medical, Hospira, Sanofi, and Kaleo. Mylan dominated the global epinephrine autoinjector market with over 50% market share in 2020 owing to its flagship product EpiPen. Key players are focusing on launching affordable generic versions of EpiPen to increase their market share and presence globally.

The increasing prevalence of food allergies, especially among children in developed regions, presents significant growth opportunities for key players in the epinephrine autoinjector market. According to a study, peanut allergy prevalence increased by approximately 21% each year from 2010 to 2017 among U.S. children. Additionally, easier access and greater awareness about treatment options for anaphylaxis are also expected to drive the demand for epinephrine autoinjectors during the forecast period.

Key players are expanding their presence in developing regions through acquisitions and collaborations with regional/local partners. For instance, Mylan acquired the Akrimax group in 2018 to expand its business across Central and Eastern Europe and Africa. Similarly, Teva partnered with Pharmascience Inc. to commercialize its generic version of EpiPen in Canada. Such initiatives are helping players reach untapped growth opportunities in emerging markets.

Market Drivers

Growing incidences of food allergies: The rising prevalence of food allergies, especially among children, is a major factor driving the demand for epinephrine autoinjectors. Food allergies impose a significant burden with regard to healthcare costs, missed school/work days for parents, and reduced quality of life.

Increasing awareness and better diagnosis: Greater awareness among the public and medical community about symptoms and emergency treatment of anaphylaxis is helping people manage the condition better. Improved diagnosis of triggers and training regarding use of epinephrine autoinjectors is also propelling the market growth.

Market Restraints

Product recalls and supply issues: Frequent recalls of major products due to manufacturing defects significantly impact the sales and growth prospects of players. For instance, Pfizer's epinephrine injection was recalled multiple times in 2021-2022 due to the potential for the lacking of adequate drug dosage strength during emergency situations.

Preference for alternative therapeutics: Some patients prefer alternative therapies over autoinjectors due to fear of needles or side effects. Oral antihistamines or alternative drug delivery routes like epinephrine inhalers are gaining popularity.

Segment Analysis

The global epinephrine autoinjector market is dominated by the prefilled syringe sub-segment due to the ease of its usage and portability as compared to the other sub-segments such as fillable autoinjectors. Prefilled syringes contain pre-dosed epinephrine and require minimal steps to use during a medical emergency which makes them preferable especially in public places such as schools.

The anaphylaxis indication sub-segment currently holds the largest market share owing to the widespread availability and use of epinephrine autoinjectors for the emergency treatment of allergic reactions. However, the cardiac indication sub-segment is expected to grow at a higher rate during the forecast period due to new product approvals and increasing prevalence of heart conditions which require prompt epinephrine administration.

Regional Analysis

North America holds the dominant share in the global epinephrine autoinjector market and is expected to continue its lead during the forecast period. High awareness about epinephrine use, strong healthcare system and favorable reimbursement scenarios across major countries promote the sales in this region. Asia Pacific is identified as the fastest growing regional market due to rising per capita healthcare expenditure, prevalent trends of outsourcing clinical trials and growing patient population in countries like India and China.

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