Epinephrine Market Size, Share & COVID-19 Impact Analysis, By Product Type (Auto-injectors, Pre-filled Syringes, and Ampoules & Vials), By Application (Anaphylaxis, Cardiac Arrest, Respiratory Disorders, and Others), By Distribution Channel (Hospital Pharmacy and Retail & Online Pharmacy), and Regional Forecast, 2022-2029

The global epinephrine market size was valued at USD 1.60 billion in 2021. The market is projected to grow from USD 1.75 billion in 2022 to USD 3.63 billion by 2029, exhibiting a CAGR of 11.0% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with epinephrine experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global market exhibited a lower growth of 11.4% in 2020 as compared to 2019.

Epinephrine is one of the most commonly used medications and hormones for treatment in various situations, including emergency treatment of type 1 hypersensitivity reactions such as anaphylaxis. The most common factors responsible for anaphylaxis are food, insect stings, medications, and allergy immunotherapy injections. It is administered in various ways, such as intramuscular, subcutaneous, intravenous, and inhalation. Owing to the therapeutic effect, the demand for various technologically advanced products is increasing, which includes auto-injectors and others.

Moreover, favorable reimbursement policies for auto-injectors, increasing launches of technologically advanced products, and growing prevalence of various diseases, such as anaphylaxis, cardiovascular diseases, and others will support the market growth of epinephrine during the forecast period.

COVID-19 IMPACT

Delayed Diagnosis of New Cases during COVID-19 Marginally Impacted the Market  

The global epinephrine market growth was impacted negatively during the forecast period. Factors responsible for the decline in the market include decline in patient visits to the healthcare centers, which results in the decline in diagnosis and treatment of several diseases such as anaphylaxis.

• For instance, the prescription rate for EpiPen (auto-injector) declined in the U.S. during the COVID-19 pandemic. In 2020, Mylan experienced a decline of 33.7% in total prescriptions filled for its generic EpiPen.

Additionally, disruption in the manufacturing of these auto-injectors by the market players, along with the disruption in the supply chain, limited the market growth during the COVID-19 pandemic.

In 2020, the market players observed a significant decline in revenue. For instance, Amneal Pharmaceuticals LLC. recorded a decline of 2.5% in revenues generated in 2020. In 2021, the company registered a growth of 20.1% in revenue.

However, the initiatives taken by governments of various countries for the management of allergic reactions during the COVID-19 pandemic supported the growth of the market in 2021. For instance, in February 2021, the Strategic National Stockpile (SNS) allocated 100,000 auto-injectors to 50 states around the U.S.

LATEST TRENDS

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Adoption of AI is Transforming Drug Delivery for Epinephrine

The rising prevalence of medical conditions, such as anaphylaxis, cardiovascular diseases, respiratory diseases (asthma), and others, along with the increasing awareness about the treatment options for the management of these diseases, is creating various growth opportunities in the market.

• For instance, according to the European Academy of Allergy and Clinical Immunology data, more than 150 million people suffer from allergic diseases. Moreover, according to the Anaphylaxis Campaign report, the allergy will affect more than 50% of all Europeans by 2025.


• According to the American College of Allergy, Asthma & Immunology (ACAAI), allergies are among the 6th leading causes of chronic diseases in the U.S. and have health expenditures of more than USD 18.00 billion. Also, more than 50 million Americans suffer from allergies every year.

Growing advancements in auto-injectors, such as AI-enabled and needle-free auto-injectors, are creating opportunities in the market. The increasing applications of these injectors, apart from anaphylaxis in various medical conditions, such as cardiac arrests, respiratory disorders, and other conditions, are creating more opportunities for the key players to launch the product for various conditions.

Additionally, various key players are adopting growth strategies such as acquisition and collaborations to introduce these injectors in the market that will cater to the unmet needs of the people who are at high risk of anaphylaxis shocks.

• In July 2019, kaleo, Inc. partnered with Walgreen Co. to expand its retail pharmacy collaborations to include FDA-approved injection AUVI-q at Walgreen Co.'s platform. The product is made available at Walgreens locations nationwide for patients with allergies.

DRIVING FACTORS

Growing Prevalence and Huge Patient Pool Undergoing Treatment to Support the Demand for Auto-injectors

With the rising prevalence of anaphylaxis globally, the demand for these products is increasing in developing and developed countries. To cater to this growing demand, major market players of epinephrine are focusing on the introduction of innovative products offering novel routes of administration. These players are now focusing on developing technologically advanced injectors in the market.

• For instance, in August 2019, Teva Pharmaceutical Industries Ltd. announced the availability of EpiPen Jr Auto-Injector, 0.15 mg in the U.S. The product was available in most retail pharmacies.

Moreover, governments of various countries are granting approvals for the generic version of these injectors for the treatment of anaphylaxis. In August 2018, the U.S. FDA approved the generic version of auto-injector EpiPen and EpiPen Jr to treat severe allergic reactions, including anaphylaxis in adults and pediatric patients with weights more than 15 kilograms.

Additionally, the market players are focusing on expanding their geographical footprints to cater to the demand for these type of injectors. In July 2021, ALK-Abelló A/S partnered with Grand Pharmaceutical Group Limited to launch the first adrenaline auto-injector Jext in China to expand its geographic presence in China.

Adequate Reimbursement Policies in Developed Countries are Driving the Adoption of Auto-injectors    

As the demand for these injections is increasing rapidly in developed countries, such as the U.S. and European countries, companies are focusing on the launch of new products in the market. Moreover, reimbursement policies are improving for these pens as the cost of these auto-injectors is very high and inaccessible for many patients. Thus, to make these auto-injectors more accessible for patients suffering from anaphylaxis, Medicare has offered coverage for the auto-injector.

The average cost of a two-pack of EpiPen was USD 669.82, and the average price of a two-pack generic EpiPen was USD 396.41 in 2020 in the U.S. without Medicare or other prescription drug coverage. According to an article published in September 2019 in the National Library of Medicine, EpiPen accounted for over 95% of units reimbursed for auto-injectors from 2014-2016.

Despite the higher cost of these auto-injectors in developed countries, the penetration is still comparatively higher in these countries. This is due to adequate reimbursement policies available for auto-injectors.

• For instance, Medicaid reimbursed 2.7 million prescriptions from January 2011 to June 2015, an average of nearly 600,000 per year.

RESTRAINING FACTORS

High Cost of Auto-injectors and Limited Reimbursement in Developing Countries to Limit Market Growth

With increasing demand for effective treatment options for severe allergic reactions, such as anaphylaxis, the demand for these injections is increasing rapidly. However, the high cost of auto-injectors is projected to limit the market growth during the forecast period.

• For instance, in mid-August 2016, the price of a two-pack EpiPen of Mylan was USD 600. The prices were hiked by more than 500% compared to previous years. Due to the price hike, the company had to face many lawsuits, and it affected its position in the market.

Additionally, in developing countries, most people are not aware of the treatment options available for anaphylaxis along with inadequate reimbursement policies for auto-injectors. Also, lack of R&D activities is one of the factors responsible for the limited adoption of auto-injectors in emerging countries.

Thus, the high cost of these type of injectors, along with the rising demand for efficient treatment options among patients, is creating demand for cost-effective auto-injectors in the market. Additionally, lack of reimbursement in developing countries and higher out-of-pocket expenditure associated with the auto-injectors are responsible for lower adoption of these products in the market. 

SEGMENTATION

By Product Type Analysis

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Auto-injectors Segment to Experience Dynamic Growth during Forecast Period

On the basis of product type, the market of epinephrine is divided into auto-injectors, pre-filled syringes, and ampoules & vials.

The auto-injectors segment led the market by revenue share due to the benefits of these auto-injectors over other products. Auto-injectors can be used for emergency treatment of acute anaphylaxis and administered intramuscularly. Also, they are easy to use, easily available, and easy to carry, thereby creating demand for these products in the market.

The pre-filled syringes segment is expected to grow significantly during the forecast period due to its quick response to emergency allergic reactions and increasing demand from hospitals and clinics for the treatment of various illnesses.

By Application Analysis

Increasing Prevalence of Anaphylaxis is Responsible for Dominance of the Segment

On the basis of application, the market of epinephrine is divided into anaphylaxis, cardiac arrest, respiratory disorders, and others.

The anaphylaxis segment dominated the market in 2021 due to the growing prevalence of anaphylaxis globally. For instance, the global prevalence of pediatric anaphylaxis ranged from 0.4% to 1.8%. The introduction of technologically advanced products by the key players for the treatment of anaphylaxis is driving the growth of this segment.

The respiratory disorders segment is projected to grow with a significant CAGR during the forecast period due to factors such as growing awareness about the treatment options available for respiratory disorders along with the increasing diagnosis and treatment rate of respiratory disorders

By Distribution Channel Analysis

Retail & Online Pharmacy Segment to Dominate the Market due to Increasing Number of Retail & Online Pharmacies

On the basis of distribution channel, the market is divided into retail & online pharmacy and hospital pharmacy.

The retail & online pharmacy segment dominated the market with a substantial epinephrine market share. The factors responsible for the growth of this segment include the increasing number of retail & online pharmacies, easy availability of auto-injectors, and easy accessibility of the products through online platforms of the companies.

The growth of the hospital pharmacy segment is due to increasing emergency hospital visits due to severe allergic reactions, cardiac arrest, and respiratory conditions, which result in emergency treatment.

REGIONAL INSIGHTS

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The market in North America was valued at USD 1.02 billion in 2021. The region dominated due to factors such as adequate reimbursement policies in the U.S. for auto-injectors and increasing product launches of technologically advanced products in the market. For instance, in May 2020, kaleo, Inc. announced the availability of ALLERJECT auto-injector in Canada. With this availability, Canadian patients could access different treatment options for anaphylaxis.

In Europe, the market will be primarily driven by the increasing prevalence of various conditions such as anaphylaxis, cardiovascular diseases, and others. The growth of technologically advanced products in the region will support the market growth. For instance, according to an article published in the European Journal of Allergy and Clinical Immunology, in March 2020, the prevalence of food allergies in children from birth to 17 years was 61.6%.

Asia Pacific is projected to grow at a significant rate owing to changing regulatory policies for the adoption of auto-injectors. Additionally, companies are expanding their global presence in the region to meet the demand. For instance, in July 2021, ALK-Abelló A/S partnered with Grandpharma to launch its adrenaline auto-injector “Jext” in China. Jext is expected to be the first auto-injector in China.

The market in Latin America is growing due to increasing diagnosis and treatment rate of anaphylaxis, which has created a demand for these injections in the region. The launch of new products is supporting the market growth of epinephrine in the region.

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The Middle East & Africa market will expand with a considerable market share during the forecast period due to strategic initiatives taken by governments of various countries, increasing prevalence of anaphylaxis, and others.

KEY INDUSTRY PLAYERS

Teva Pharmaceutical Industries Ltd. Leads Market with Strong Portfolio of Auto-injectors

The market is consolidated, with a few epinephrine players holding a major share of the market. Industry leaders, such as Teva Pharmaceutical Industries Ltd., Viatris Inc., Amneal Pharmaceuticals LLC., and ALK-Abelló A/S, hold a dominating place with a strong portfolio of technologically advanced auto-injectors. Additionally, there are increasing product approvals by the FDA to support the company's growth. In November 2018, the company received FDA approval for the generic version of EpiPen auto-injector and EpiPen Jr auto-injector.

The other market players, such as Viatris Inc., kaleo, Inc., Bausch Health Companies Inc., Amneal Pharmaceuticals LLC., USWM, LLC, BIOPROJET, ALK-Abelló A/S, and others, mark a strong global presence. The strategic decisions taken by these players support the growth of these companies.

LIST OF KEY COMPANIES PROFILED:

• Teva Pharmaceutical Industries Ltd. (Israel)


• Viatris Inc. (U.S.)


• kaleo, Inc. (U.S.)


• Bausch Health Companies Inc. (Canada)


• Amneal Pharmaceuticals LLC. (U.S.)


• USWM, LLC. (U.S.)


• BIOPROJET (France)


• ALK-Abelló A/S (Denmark)

KEY INDUSTRY DEVELOPMENTS:

• November 2021 - Marathon Asset Management acquired kaleo, Inc. to accelerate development, manufacturing, and commercialization of kaleo’s medical products.


• November 2020 - Mylan N.V. and Upjohn, Pfizer Inc.’s division, formed a global pharmaceutical company called Viatris Inc. to develop products in therapeutic areas such as central nervous system and anesthesia, infectious disease, and cardiovascular diseases around the world.


• May 2020 - kaleo, Inc. announced the availability of ALLERJECT auto-injector injection in Canada. With this availability, Canadian patients could access different treatment options for anaphylaxis.


• May 2020 - USWM, LLC. and Adamis Pharmaceuticals Corporation entered into an agreement to grant commercial rights to USWM, LLC. for distribution and commercialization of the SYMJEPI injection.


• October 2020- Bausch Health Companies Inc. launched Emerade injection of dosages 0.3mg and 0.5mg in Canada for the emergency treatment of anaphylactic reactions in patients. This product launch created a new treatment option for anaphylaxis in Canada.

REPORT COVERAGE

An Infographic Representation of Epinephrine Market

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The global market report provides a detailed market analysis. It focuses on key aspects such as leading companies, product type, applications, and distribution channels. Besides this, it offers insights into the market trends, impact of COVID-19, and other key insights. In addition to the factors mentioned above, the report encompasses several factors that have contributed to the growth of the market in recent years.

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