north america epinephrine Market

North America, the epinephrine market, is anticipated to reach US$ 1,598.99 Mn in 2027 from US$ 841.86 Mn in 2019. The market is projected to grow with a CAGR of 8.5% from 2020-2027.

The epinephrine market is growing primarily due to the fast growth of auto-injector production in North America and the growing prevalence of anaphylaxis cases in the North American region that are boosting the market over the years. Restraining factors, such lack of availability of epinephrine drug, are likely to damage the growth of the market in the coming years. On the other hand, growing R&D expenditure for growing pipeline of epinephrine is expected to have a positive impact on the growth of the North American epinephrine market in the coming years.

Anaphylaxis is a severe, life?threatening allergic reaction characterized by symptoms such as skin redness and itching, swallowing and breathing difficulties, wheezing, rapid breathing rate (tachypnoea), accelerated heart rate (tachycardia), and falling blood pressure. It may involve multiple systems of human body. Anaphylaxis is caused by exposure to an allergen (foods, insect stings, or medicines) that is recognized as a non-self by a human body.

The incidence of anaphylaxis is increasing, as per Allergy Facts by the American College of Allergy, Asthma & Immunology, and more than 50 million Americans experience different types of allergies every year. Moreover, it also lists allergies as the sixth-leading cause of chronic illness in the US and the most common health issues in children. In 2015, 8.2% of adults and 8.4% of children were diagnosed with hay fever. According to the Asthma and Allergy Foundation of America, in the last few years, hospital visits have also increased due to food allergic reaction. According to Food Allergy Research & Education, ~32 million Americans are living with life-threatening food allergies, and there are 200,000 visits to the emergency room every year due to food allergies. Allergies put an economic burden on healthcare systems in many countries; for example, according to Allergy Facts, the annual cost of managing the cases of allergies is more than USD 18 billion in the US. Anaphylaxis requires immediate medical treatment, and it can turn lethal if not treated properly. ~90?100 Americans die every year due to anaphylaxis caused by insect stings. Therefore, the demand for epinephrine is expected to increase during the forecast period.

In 2019, the auto-injectors accounted for the largest market share in the North American epinephrine market. Epinephrine auto-injectors are measured dosages and are also used to treat life-threatening allergic reactions. The epinephrine auto-injectors can be self-administered. The auto-injectors segment is also estimated to mark the highest CAGR in the market during the forecast period, owing to the increasing technological development that is enabling the alternative treatment of anaphylaxis by the various generic drugs.

In 2019, the anaphylaxis segment, held the most significant market share of the epinephrine market by the application. This segment is also anticipated to hold a considerable portion of the market in 2027, owing to the need for treatment of anaphylaxis and other allergies for the people. The segment is also anticipated to witness growth at a significant rate during the forecast period.
Some of the significant primary and secondary sources for epinephrine included in the report are World Health Organization (WHO), Food and Drug Administration (FDA), Food Allergy Research & Education, Centers for Disease Control and Prevention (CDC), Asthma and Allergy Foundation of America.