May 23, 2024
Global Epinephrine Autoinjector Market

Global Epinephrine Autoinjector Market is Estimated to Witness High Growth Owing to Increasing Prevalence of Anaphylaxis

The global epinephrine autoinjector market has been witnessing steady growth in the last few years owing to the increasing incidences of anaphylaxis and allergies across the globe. Epinephrine autoinjectors are easy to carry single-dose devices used to deliver a pre-measured dose of epinephrine in case of an allergic reaction of anaphylaxis. They allow for quick self-administration and are often recommended to people at risk of anaphylaxis by physicians. The major advantages of epinephrine autoinjectors include pre-filled and pre-measured dosage, easy and accurate administration, no assembly required and clear instructions. The growing perception of epinephrine autoinjectors as an essential medical device for people at risk of anaphylaxis and allergies is supporting the demand for these devices.

 The Global epinephrine autoinjector Market is estimated to be valued at US$ 2.50 Bn in 2024 and is expected to exhibit a CAGR of 8.9% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Global Epinephrine Autoinjector Market Trends are Mylan, Teva Pharmaceutical, Impax Laboratories, Adamis Pharmaceuticals Corporation, Pfizer, ALK Abello, Lincoln Medical, Hospira, Sanofi, Kaleo. Key players like Mylan and Teva hold a major share of the market and are focusing on launching generic versions to increase accessibility and affordability of epinephrine autoinjectors.

Major opportunities in the epinephrine autoinjector market include development and commercialization of devices with enhanced usability, accuracy and safety. There is also a scope for developing mobile applications integrated with autoinjectors for real-time medical assistance.

The market is witnessing significant growth in developed regions like North America and Europe owing to high allergy prevalence and supportive reimbursement policies for epinephrine autoinjectors. Key players are also targeting emerging markets in Asia Pacific and Latin America to tap the growing demand from these regions.

Market Drivers

The increasing prevalence of food allergies, insect stings and drug allergies among patients globally is a major driver for the epinephrine autoinjector market. According to figures, around 5% of the global population suffers from food allergies. Easy availability of generic and lower-cost epinephrine autoinjector devices is also supplementing the market growth. Regulatory mandates in countries requiring schools and public facilities to stock epinephrine autoinjectors are further propelling the demand.

PEST Analysis:

Political: The global epinephrine autoinjector market is impacted by various regulatory policies in different countries. Regulations around prescription, marketing, and sales of these devices vary significantly across regions.

Economic: Factors such as rising healthcare spending, increasing prevalence of anaphylaxis cases, and favorable reimbursement policies are fueling the growth of the global epinephrine autoinjector market.

Social: Growing public awareness about symptoms of allergic reactions and anaphylaxis is driving the demand for epinephrine autoinjectors. Epinephrine is considered the first line treatment for anaphylaxis emergencies.

Technological: Advancements in epinephrine delivery technologies are helping optimize drug dosing mechanisms. Newer devices are being designed with safety features, ease of use, assisted needle insertion, and low maintenance requirements.

The North America region currently dominates the global epinephrine autoinjector market in terms of value due to high treatment costs, favorable reimbursement structure, and presence of key players in the region.

The Asia Pacific region is expected to witness the fastest growth over the forecast period supported by increasing healthcare expenditure, large population base with allergic conditions, and growing medical tourism industry.

*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it