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Epinephrine, as a medication is used to treat multiple health conditions such as anaphylaxis, cardiac arrest, etc. The drug nowadays can be taken with the help of pen injectors that helps in immediate management of the emergency crisis. Owing to therapeutic effectiveness there is a growing demand for the products. Also, launch of advanced technologies such as Epipen have led to increased sales of the epinephrine products worldwide. Moreover, insurance companies have stopped covering branded products such as EpiPens, thereby favouring the adoption for alternative epinephrine auto-injectors. This is likely to have a positive impact on the market value during the forecasted timeframe.
The major factor driving the global epinephrine market is the U.S FDA approval for the various epinephrine products. Maximum product launch is likely to boost the market growth thereby increasing the demand and sales of the products.
However, stringent regulations and product recalls is responsible to have an impact on the sales of the companies thus decreasing the market value.
Key Market Driver -
Product approvals to boost market growth
Key Market Restraint -
Product recalls and regulatory constraints to hinder market growth
By product type, the global epinephrine market is segmented into auto-injector, pre-filled syringes, and ampoules & vials. Based on application, the market is classified as anaphylaxis, cardiac arrest, respiratory disorders, superficial bleeding, and others. Based on distribution channel the global market is segmented into hospital pharmacy, retail pharmacy, and online pharmacy.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The major companies in the global epinephrine market report includes Pfizer Inc, Mylan N.V, Teva Pharmaceuticals, Henry Schein Medical, Adamis Pharmaceuticals Corporation, Sandoz International GmbH, Bausch Health Companies, and others.
The global epinephrine market has been segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America followed by Europe dominated the global market in 2019, owing to the higher prevalence of cardiac arrest patients coupled with increased sales of the epinephrine products prototype in the region. For instance, according to the American Medical Association in 2018, about 93.3 million adults have obesity which is the major cause of cardiovascular diseases. Additionally, rising government initiatives to spread awareness and training campaigns about the personal use of epinephrine products in emergency is the factor driving the market growth in Europe. Launch of advanced medical devices is for delivery of epinephrine is driving the adoption of the products in Asia Pacific countries. This along with growing mergers and acquisitions between industry players is likely to promote the sales of the products in countries like China, India, and other countries. Latin America and Middle East & Africa is likely to witness a slower growth due to lack of penetration of the advanced products.
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