The anaphylaxis treatment market is expected to reach US$ 4,787. 66 million in 2028 from US$ 2,664. 66 million in 2021; it is estimated to grow at a CAGR of 8. 7% during 2021–2028. The growth of the market is mainly attributed to the key driving factors such as the rising incidence of anaphylaxis, and recent approvals of epinephrine.
New York, Aug. 30, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Anaphylaxis Treatment Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Medication Type, Route of Administration, Allergy Type, and Distribution Channel" - https://www.reportlinker.com/p06130832/?utm_source=GNW
However, the poor accessibility to epinephrine auto-injectors in low-income countries hinders the market growth.
Epinephrine is the most effective treatment for anaphylaxis, however various studies indicate underutilization of this drug due to the high cost and low availability of the drugs and unawareness regarding the drug usage and anaphylactic onset.Many organizations are developing generic drugs for the treatment of anaphylaxis.
In April 2020, Amphastar Pharmaceuticals made an announcement regarding winning an FDA approved for the new drug application of its epinephrine injection, USP 30mg/30mL (1mg/mL), available in multiple dose vials.This generic drug product is known to be equivalent to Adrenalin (Endo International and Par Pharmaceutical), and it is prescribed as an emergency treatment of allergic reactions (Type 1), including anaphylaxis.
However, a limited number of players are operating in this segment.The demand for epinephrine has been on the rise with limited product supply.
As per the Pew Charitable Trusts, demand for epinephrine auto-injectors has increased in the last few years, and the number of EpiPen prescriptions in the US grew from ~2.5 million in 2011 to 3.5 million in 2015. The growth can be attributed to the high demand from schools.
Additionally, in January 2020, The U.S Food and Drug Administration (FDA) announced the approval of the peanut allergy drug Palforzia. The drug is approved to mitigate allergic reactions, such as anaphylaxis, that may occur with accidental exposure to peanuts. Thus, surge in the approvals of epinephrine auto-injectors is boosting the anaphylaxis treatment market growth.
Based on medication type, the anaphylaxis treatment market is segmented into epinephrine, antihistamines, steroids, beta-agonist, and others.The epinephrine segment held the largest share of the market in 2020 and the same segment is anticipated to register the highest CAGR in the market during the forecast period.
The market growth for this segment is attributed to generic launch of epinephrine and easy access to the epinephrine. For instance, in July 2019, Sandoz, a Novartis AG division, has launched its generic pre-filled Symjepi epinephrine shots.
The World Health Organization (WHO), National Health Service, Centers for Disease Control and Prevention (CDC), International Study of Asthma and Allergies in Childhood, National Institute of Allergy and Infectious Diseases, and National Asthma Education and Prevention Program along with company websites are among the major primary and secondary sources referred to while preparing the report on the anaphylaxis treatment market.
Read the full report: https://www.reportlinker.com/p06130832/?utm_source=GNW
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