The anaphylaxis treatment market in South and Central America is expected to grow from US$ 91.9 million in 2021 to US$ 157.5 million by 2028; it is estimated to grow at a CAGR of 8.0% from 2021 to 2028.
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.
The growth can be attributed to the high demand from schools. Patients usually do not have enough choice in medication for such life-threatening conditions; however, the choices would increase with the introduction of more generics into the market. Thus, surge in the approvals of epinephrine auto-injectors is boosting the anaphylaxis treatment market growth.
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 outbreak of COVID–19 has severely impacted the flow of medical services in the region.Also, the countries are popular for medical tourism, which is also affected by the pandemic.
Brazil, Argentina, Peru, Chile, Uruguay, Colombia are affected by the second wave of corona infection.Among which Brazil has registered the majority of the deaths.
As of May 2021, around 411,854 lives have already been lost in Brazil, which is a sign of the second wave of COVID19 infection.It is expected that the region is likely to impose a second lockdown, which will eventually hamper the healthcare industry in the region.
Moreover, countries are significantly dependent on the US and European countries for their medical resources. Thus, the region’s market has experienced a significant slowdown and is expected to face the same in the following one to two years. Additionally, people in Brazil became more aware of the risk of aggravating asthma or allergic diseases due to COVID-19, along with its treatments, which is leading to boost the growth of the anaphylaxis treatment market in the rest of the world. These factors had a potential impact on the South and Central America anaphylaxis treatment market.
The overall South and Central America 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 South and Central America 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 South and Central America Anaphylaxis treatment market. Amneal Pharmaceuticals Inc., Mylan N.V., Abbott, Pfizer Inc., Glaxosmithkline Plc., Merck and Co., Inc., Teva Pharmaceutical Industries Ltd., and ALK-ABELLó are among a few players operating in the South and Central America anaphylaxis treatment market.
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