Europe Anaphylaxis Treatment Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Medication Type (Epinephrine, Antihistamines, Steroids, Beta-Agonist, and Others), Route of Administration (Oral, Parenteral, and Others), Allergy Type (Food Allergy, Medications, Insect Stings, and Others) and Distribution Channel (Hospital Pharmacies, Retail Sales, and Others)
The anaphylaxis treatment market in Europe is expected to grow from US$ 534.0 million in 2021 to US$ 987.2 million by 2028; it is estimated to grow at a CAGR of 9.2% from 2021 to 2028.
Anaphylaxis is a severe, life?threatening allergic reaction caused by vulnerability to allergens (foods, insect stings, or medicines) identified as a non-self by a human body. Typical indications of this condition include swallowing and breathing difficulties, skin redness and itching, accelerated heart rate, wheezing, rapid breathing rate, and lowering blood pressure. The incidence of anaphylaxis is increasing around the world. According to the National Institute for Health and Care Excellence (NICE), anaphylaxis causes more than 20 deaths every year in the UK. As per the European Academy of Allergy and Clinical Immunology data, ~150 million Europeans suffer from chronic allergic diseases every year. Therefore, the rising incidence of allergies is leading to surge in anaphylaxis cases. Due to the growing prevalence of allergies, the economic burden on healthcare systems in many countries is increasing. Thus, the burgeoning incidence of anaphylaxis is driving the growth of the market.
The market for anaphylaxis treatment market is segmented into medication type, route of administration, allergy type, and distribution channel. Based on medication type, the anaphylaxis treatment market is segmented epinephrine, antihistamines, steroids, beta-agonist, and others. In 2020, epinephrine segment accounted for the highest share of the market. The growth of the epinephrine is attributed due to easy access to the epinephrine, rising incidences of allergic reactions and growing government policies to access epinephrine to school-going children. Additionally, the rise in the number of a product launch for generic version epinephrine is key factor responsible for the growth of the market. For instance, in July 2019, Sandoz, a Novartis AG division, has launched its generic pre-filled Symjepi epinephrine shots across the country.
The rapid growth of COVID-19 cases in Europe has had a major impact on the European economy. Spain, Italy, Germany, France, and the United Kingdom are among the European countries most affected. In collaboration with the European Academy of Allergy and Clinical Immunology (EAACI), it published “Allergy and Its Impact on Asthma (ARIA).” Experts in their respective fields recently published a compendium with answers to 150 commonly asked questions about COVID-19 and allergic diseases. Furthermore, readers can put further questions regarding this “living” compendium electronically to the authors, and their answers will be available through a new category in the journal’s webpage. Besides, EAACI, in collaboration with ARIA, has provided recommendations on operational plans and practical procedures for ensuring optimal standards in the daily clinical care of patients with allergic diseases whilst ensuring the safety of patients and healthcare workers. Therefore, growing awareness of allergy linked to COVID-19 in Europe during is likely to demand for anaphyalaxis treatment and supply in COVID Pandemic, hence it can boost the growth of the anaphylaxis treatment market.
The overall Europe anaphylaxis treatment market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the Europe anaphylaxis treatment market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe Anaphylaxis treatment market. Amneal Pharmaceuticals Inc., Mylan N.V., BIOPROJET, Abbott, Pfizer Inc., Glaxosmithkline Plc., Merck and Co., Inc., Teva Pharmaceutical Industries Ltd., and ALK-ABELLó are among a few players operating in the Europe anaphylaxis treatment market.
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