The epinephrine market in Europe is anticipated to reach US$ 1,238.80 million by 2027 from US$ 680.01 million in 2019. The market is projected to grow at a CAGR of 8.0% during 2020–2027.
The growth of the epinephrine market is attributed primarily due to the fast growth of epinephrine technology in Europe and the growing prevalence of anaphylaxis cases in the region. Factors such lack of availability of epinephrine drug are likely to restrain the growth of the market in the coming years. However, increasing R&D expenditure for growing pipeline of epinephrine is expected to have a positive impact on the growth of the epinephrine market in Europe 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; more than 1 billion people worldwide suffered from respiratory diseases in 2018?asthma to which is a major contributor, according to the World Health Organization (WHO). According to NCBI, anaphylaxis is a common problem, affecting 1 in 300 Europeans at some point of time in their lives. Future research needs to focus on a better understanding of the trends across Europe and identifying those most likely to experience fatal reactions. Anaphylaxis requires immediate medical treatment, and it can turn lethal if not treated properly. Allergies put an economic burden on healthcare systems in many countries. Therefore, the demand for epinephrine is expected to increase during the forecast period.
In 2019, the auto-injectors segment accounted for the largest market share in the European epinephrine market. Epinephrine auto-injectors are measured dosages used to treat life-threatening allergic reactions. The epinephrine auto-injectors can be self-administered. The auto-injectors segment is estimated to mark the highest CAGR in the market during the forecast period owing to the increasing development of this segment resulting in the growth of the market in near future.
In 2019, the anaphylaxis segment held the most significant market share of the epinephrine market, by application. This segment is also anticipated to hold a considerable portion of the market by 2027 owing to the need for treatment of anaphylaxis and other allergies in people. The segment is also anticipated to witness growth at a significant rate during the forecast period.
A few significant 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), and National Center for Biotechnology Information (NCBI).