Epinephrine Market Trends

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

• High Cost of Auto-Injectors - Worldwide rising demand for effective treatment for several allergic reactions is propelling the demand for these auto-injectors. However, the advanced and popular versions of these auto injectors such as needle-free auto-injectors and AI- enabled auto-injectors are high in cost. Therefore, the high cost of these injectors is estimated to hamper the market growth during the projected time frame.
• Lack of Availability of Approved Medicines
• Inadequate Reimbursement in Developing Nations