epinephrine market Size 2023

The global epinephrine market size was exhibited at USD 2.11 bn in 2023 and is projected to attain around USD 5.46 bn by 2033, growing at a CAGR of 9.96%

NEW YORK CITY, NEW YORK, UNITED STATES, January 10, 2023 /EINPresswire.com/ -- Epinephrine injections can be used alongside emergency medical treatment to manage life-threatening allergic reactions. The epinephrine self-injectors are prefilled, disposable injection devices that can be used in emergencies to administer epinephrine immediately upon the onset of symptoms.

The global epinephrine market size was exhibited at USD 2.11 billion in 2023 and is projected to attain around USD 5.46 billion by 2033, growing at a CAGR of 9.96% during the forecast period 2023 to 2033.

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Current Trends:

AI is Transforming Drug delivery for Epinephrine. With the growing prevalence of medical conditions (such as anaphylaxis and cardiovascular diseases), and increasing awareness about treatment options, there are many growth opportunities in this market.

For example, the European Academy of Allergy and Clinical Immunology data shows that more than 150 million people have allergic diseases. The Anaphylaxis campaign report also states that allergy will affect over 50% of Europeans by 2025.

According to the American College of Allergy, Asthma & Immunology, allergies are the 6th most common cause of chronic disease in the United States. They also account for over USD 18.00 Billion in healthcare expenditures. More than 50 million Americans are affected by allergies each year.

The market is seeing a lot of opportunities due to the increasing number of auto-injectors. There are more options for key players to launch products for different medical conditions due to the increasing use of these injectors.

Key Market Segments:
Type

Epinephrine Auto-injector, Epinephrine Prefilled Syringe

Application

Anaphylaxis

Key Market Players included in the report:

Mylan Inc, Sanofi SA, Impax, ALK Abello, Lincoln Medical Ltd, AMPHASTAR

Driving Factors

Growing demand for auto-injectors due to an increasing prevalence and huge patient pool. Market leaders in epinephrine concentrate on developing innovative products with novel administration methods to satisfy this increasing demand. These companies are now developing highly technological injectors for the market.

Teva Pharmaceutical Industries Ltd. has announced that EpiPen Jr. Auto-Injector 0.15 mg is now available in the United States. The product was readily available at most retail pharmacies.

The generic version of these injections is being approved by various governments around the world for anaphylaxis treatment. In August 2018, the U.S. FDA approved EpiPen Jr, a generic version of the auto-injector EpiPen. This allows for severe allergic reactions to be treated in both adults and children with a weight greater than 15 kg.

Access the full study findings here: https://market.us/purchase-report/?report_id=14961

Adequate reimbursement policies in developed nations are driving the adoption of auto-injectors. As demand for these injections increases rapidly in developed countries such as the U.S., European and other countries, companies are focusing their efforts on the launch of new products on the market. As the cost of auto-injectors is very expensive and not accessible to many patients, reimbursement policies for these pens are changing. Medicare offers coverage for auto-injectors to patients suffering from anaphylaxis.

Restraining Factors

To Limit Market Growth, Auto-injectors are expensive and reimbursable in limited countries.

These injections are in high demand due to the increasing demand for effective treatment options for severe allergic reactions such as anaphylaxis. However, the market growth is expected to be limited by the high cost of auto-injectors.

Mid-August 2016 saw the prices for two EpiPens of Mylan at USD 600. The prices went up by more than 500% over previous years. The price increase caused many lawsuits and adversely affected the company's position in the market.

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