Analysis by Type (Epinephrine Prefilled Syringes, Epinephrine Auto-Injectors, Ampoules & Vials, and others); by Application (Cardiac Arrest, Anaphylaxis, Superficial Bleeding, Respiratory Disorders, and Others); and by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033
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The global epinephrine market is estimated to garner a revenue of ~USD 4 Billion by the end of 2033 by growing at a CAGR of ~12% over the forecast period, i.e., 2023 – 2033. Further, the market garnered revenue of ~USD 1 Billion in the year 2022. The growth of the market can be attributed to the worldwide growing prevalence of several allergic reactions, along with the surge in neurological disorders. It is observed that every year, around 6 million people worldwide die from neurological disorders. In addition to this, the rising proportion of individuals who are prone to several allergies is another major factor that is estimated to boost the market growth throughout the forecast period.
In addition to these, factors that are believed to fuel the market growth of epinephrine include the upsurge in food allergy stances throughout the world. For instance, in the United States, approximately 33 million individuals are affected by food allergies. Furthermore, epinephrine is used as the first line of treatment to help reverse the effects of anaphylaxis. Individuals suffering from anaphylactic shock frequently use auto-injectors, as they are easy administer by non-medical personnel. Therefore, the rising occurrence of anaphylaxis cases is another significant factor that is estimated to fuel the growth of the market over the forecast period. For instance, anaphylaxis, a severe allergic reaction to food, is thought to cause nearly 91,000 emergency room visits annually in the United States.
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~12% |
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Base Year Market Size (2022) |
~ USD 1 Billion |
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Forecast Year Market Size (2033) |
~ USD 4 Billion |
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Regional Scope |
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Growth Drivers
Upsurge in Chronic Respiratory Disorders - Respiratory disorders refer to a class of pathogenic conditions such as COPD, and asthma, that affect respiration in living organisms. In higher organisms, respiration allows for gas exchange. In a gas exchange, the organism absorbs oxygen and exhales carbon dioxide. The respiratory tract, which comprises the alveoli, bronchi, bronchioles, pleura, pleural cavity, trachea, and breathing muscles and nerves, is where respiratory disease develops itself. Therefore, the global increase in chronic respiratory disorders is expected to boost the growth of the global epinephrine market. As per the World Health Organization (WHO), 3.23 million people died from chronic obstructive pulmonary disease (COPD), the third most common cause of mortality in the world in 2019.
Growing Occurrence of Several Types of Allergic Reactions - For instance, every year, more than 51 million individuals in the United States deal with various allergies. These allergic reactions are the region's sixth most common cause of chronic illness.
Escalation in Cardiac Arrests – It is observed that, in the United States, there are over 357,000 out-of-hospital cardiac arrests (OHCA) each year, with nearly 89% of them life-threatening.
Increasing Development in Auto-Injectors – For instance, until now, nearly 81 auto-injectors have been developed by more than 22 drug manufacturers across the globe. For use with auto-injectors, about 49 medicines are created as combination products. Out of these, disposable auto-injectors make up nearly 61% of the total. Reusable auto injectors with various doses are being developed at a remarkable rate.
Increasing Healthcare Expenditure – As per the World Bank data, in 2019, global healthcare expenditures expanded by 9.83%.
Challenges
The global epinephrine market is segmented and analyzed for demand and supply by application into cardiac arrest, anaphylaxis, superficial bleeding, respiratory disorders, and others. Out of these five types of segments, the anaphylaxis segment is anticipated to hold the highest share over the forecast period. The growth of the segment can be attributed to the rising development of technologically advanced products from the key players, and the globally increasing prevalence of anaphylaxis in pediatrics as well as in adults. For instance, in a clinical study, it was observed that the prevalence of anaphylaxis in children ranges from 1 to 762 per 100,000 person-years. This prevalence rate varied throughout continents; such, in Europe it ranged from 2.4 to 762 per 100,000 person-years, whereas it ranges between 0.8 to 72 per 100,000 person-years in North America. Moreover, the anaphylaxis incidence rate in the pediatric population ranges from 0.05% to 1.7% throughout the world.
The global epinephrine market is also segmented and analyzed for demand and supply by type into epinephrine prefilled syringes, epinephrine auto-injectors, ampoules & vials, and others. Amongst these segments, the epinephrine auto-injectors segment is expected to garner a significant share. The growth of the segment can be attributed to their easy availability, easy to use, and great efficiency in treating acute anaphylaxis. On the other hand, the prefilled syringes segment is projected to witness notable growth during the forecast period, owing to its surging demand in hospitals and clinics for treating several illnesses, coupled with its rapid responsive rate in the treatment of emergency allergic reactions.
Our in-depth analysis of the global epinephrine market includes the following segments:
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By Type |
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By Application |
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By Distribution Channel |
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The North America epinephrine market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be attributed majorly to the escalating count of patients suffering from respiratory diseases such as asthma, coupled with the rapidly expanding population in the region. According to a health survey conducted between 2018 - 2020, in the United States, the surge of asthma cases in young individuals aged 18+ years reached 21,030,480 which denotes nearly 8.3% growth. Further, the rising awareness about allergies, along with the growing prevalence of cardiac arrests among people is another significant factor that is anticipated to push the market growth further throughout the forecast period in the region.
Further, the Europe epinephrine market is projected to display notable growth over the forecast period on the back of the escalating prevalence of cardiovascular disorders, along with a surging ratio of anaphylaxis in the region. For instance, in Europe, cardiovascular disorders continue to be the main cause of death, contributing to almost 47% of all mortalities. Every year, more than 5 million people die from cardiovascular disorders in the European region. Additionally, the surge in technological advanced products is another major factor that is projected to spur the epinephrine market size over the projected time frame in the region.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: Upsurge in chronic respiratory disorders, growing occurrence of several types of allergic reactions, escalation in cardiac arrests are some major factors driving the growth of the market.
Ans: The market is anticipated to attain a CAGR of ~12% over the forecast period, i.e., 2023 – 2033.
Ans: High cost of auto injectors, lack of availability of approved medicines, and inadequate reimbursement in developing nations are estimated to hamper the market growth.
Ans: The market in North America is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.
Ans: The major players in the market are Teva Pharmaceuticals Industries Ltd., Amneal Pharmaceuticals, Inc., Adamis Pharmaceuticals Corporation, Antares Pharma, Inc., Pfizer Inc., kaleo, Inc., Abbott Laboratories, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by type, application, distribution channel, and by region.
Ans: The anaphylaxis segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
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