A food allergy is an immunological reaction that happens shortly after ingesting a specific food. Even a small amount of the allergy-causing food might cause symptoms such as bloating, hives, and enlarged airways. A food allergy can cause severe symptoms or even a life-threatening reaction called anaphylaxis in certain people.
Data Bridge Market Research analyses that the food allergy market was valued at USD 34.83 billion in 2021 and is expected to reach USD 53.85 billion by 2029, registering a CAGR of 5.60% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Food Allergy Market Dynamics
Drivers
- High prevalence in children
The rising prevalence of food allergies in children is estimated to enhance the market’s growth. Children, particularly toddlers and newborns, are more prone to food allergies. Children’s digestive systems mature as they become older, and their bodies are less prone to absorb food or food components that cause allergies. Milk, soy, wheat, and egg allergies are usually outgrown in youngsters. Allergies to nuts and shellfish, in particular, are more likely to be lifelong. Peanut allergy among children has increased by 21% since 2010, according to a study released by the American College of Allergy, Asthma, and Immunology (ACAAI) in 2017. According to the research, around 2.5 percent of children in the United States are allergic to peanuts.
- Surging incidences of asthma
The growing incidences of asthma are estimated to propel the market’s growth rate during the forecast period of 2022-2029. Asthma and dietary allergies frequently coexist. Both food allergy and asthma symptoms are more likely to be severe when this happens.
- Increasing investment for healthcare infrastructure
Another significant factor influencing the growth rate of food allergy market is the rising healthcare expenditure which helps in improving its infrastructure. Also, various government organizations aims to improve the healthcare infrastructure by increasing funding and this will further influence the market dynamics.
- Growing number of geriatric population
The surging geriatric population is estimated to enhance the market’s expansion during the forecast period of 2022-2029. According to the World Health Organization (WHO), the worldwide geriatric population, estimated to be over 524 million in 2010, is expected to increase to nearly 2 billion by 2050. Due to their compromised immune systems, geriatrics are more susceptible to get Food allergy, further estimated to enhance the market’s growth rate.
Furthermore, rising initiatives by public and private organizations to spread awareness will expand the food allergy market. Additionally, changing lifestyle of people and rising level of disposable income will result in the expansion of Food allergy market.
Opportunities
- Increase in the number of research and development activities
Moreover, the market’s growth is fueled by an increase in the number of research and development activities. This will provide beneficial opportunities for the food allergy market growth. Along with this, rising drug approvals and launches will further propel the market’s growth rate. Moreover, rising investment for the development of advanced technologies and increase in the number of emerging markets will further provide beneficial opportunities for the food allergy market growth during the forecast period.
Global Food Allergy Market Scope
The food allergy market is segmented on the basis of food source, symptoms, diagnosis, treatment, end-users and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Food Source
Symptoms
- Anaphylaxis
- Atopic Dermatitis
- Others
Diagnosis
- Skin-Prick Tests
- Blood Test
- Elimination Diet
- Oral Food Challenge
- Others
Treatment
- Epinephrine
- Oral Immunotherapy
- Antihistamines
- Others
End-Users
- Hospitals
- Specialty Clinics
- Homecare
- Others
Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Others
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Food Allergy Market Regional Analysis/Insights
The Food allergy market is analysed and market size insights and trends are provided by country, food source, symptoms, diagnosis, treatment, end-users and distribution channel as referenced above. The countries covered in the Food allergy market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
North America dominates the food allergy market because of the rising prevalence of food allergies in this region. Additionally, rising healthcare expenditure and the presence of major key players will further propel the market’s growth rate. Asia-Pacific are expected to grow during the forecast period due to increasing presence of generic drugs manufacturers in this region. Also, increased government awareness programs, and development of healthcare infrastructure will further propel the market’s growth rate in this region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Food Allergy Market Share Analysis
The Food allergy market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Food allergy market.
Some of the major players operating in the Food allergy market are:
- Akorn, Incorporated (US)
- Pfizer Inc. (US)
- GlaxoSmithKline plc (UK)
- Novartis AG (Switzerland)
- Mylan N.V. (US)
- Teva Pharmaceutical Industries Ltd. (Israel)
- Sanofi (France)
- Boehringer Ingelheim International GmbH. (Germany)
- AstraZeneca (UK)
- Johnson & Johnson Private Limited (US)
- Bayer AG (Germany)
- Merck & Co., Inc. (US)
- Prestige Consumer Healthcare Inc. (US)
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Bristol-Myers Squibb Company (US)
- Almirall, S.A (Spain)
- Zenomed Healthcare Private Limited (India)
- Cadila Pharmaceuticals (India)
- Astellas Pharma Inc. (Japan)
- Eli Lilly and Company (US)
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