Peanut Allergy Therapeutics Market Size, Share, Growth, and Industry Growth by Type (Epinephrine Injection, Antihistamines, Oral Immunotherapy, and Other) By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Other) Regional Forecast From 2024 To 2032

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PEANUT ALLERGY THERAPEUTICS MARKET REPORT OVERVIEW

The global peanut allergy therapeutics market size was USD 0.68 billion in 2023 and is projected to grow from USD 0.93 billion in 2024 to USD 12.11 billion by 2032, exhibiting a CAGR of 37.4% during the forecast period. Asia-Pacific holds leading position in peanut allergy therapeutics market share in 2023.

Increase in the prevalence of peanut allergy globally is estimated to surge market growth. Rising awareness about new biological compounds to improve treatment methods in patients and growing development in the healthcare sector is estimated to fuel market growth in the forecast period. Growing number of patient visits to clinics for the treatment of this allergy is expected to magnify market growth. Growth in scientific and commercial activities for research and development activities is anticipated to accelerate market growth. Demand for drugs is increasing day by day owing to treating the complications associated with the allergy, such as sneezing, swelling, itchiness, diarrhea, abdominal pain, and cardiac arrest. Such advantages of the medicine are anticipated to fuel market growth in the coming years. An increase in the launch of new products extends profitable opportunities are estimated to propel market progress. However, the lack of skilled professionals and complications associated with the treatment is projected to hamper peanut allergy therapeutics market growth.

COVID-19 Impact: Lockdown Restriction Globally to Hamper Market Growth during the Pandemic

The global COVID-19 pandemic has been unprecedented and staggering, with peanut allergy therapeutics experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.

Lockdown restrictions in numerous countries across the world affected the economy of the private healthcare sector. Closure of industrial activities except manufacturing of essential commodities impacted disruption in the supply and chain of the products. Lack of manpower and equipment, along with consumables and high demand for safety, declined the overall healthcare market negatively. The biggest challenges faced during the pandemic period were irregularities in the transportation system and a lack of raw materials that affected manufacturing procedures for allergic treatment.

LATEST TRENDS

"Increase in Prevalence of Peanut Allergy to Magnify Market Growth "

Increase in the prevalence of peanut allergy across the worldwide is estimated to propel market growth. Peanut is a common food allergy that usually develops in early childhood. Also, in adult age, allergies can appear. The allergy is constant, and approximately 1 in 5 children grow up with the allergy by ten years of age. In July 2021, British medical charity committed to helping children and adults with their allergies. Presence of peanuts as an ingredient in several food and the lack of sweet dishes available without peanuts are projected to increase the allergic level. Further, peanut allergy is at a greater risk for anaphylaxis. Increasing demand to treat anaphylaxis among patients is anticipated to propel peanut allergy therapeutics market growth in the coming years.

PEANUT ALLERGY THERAPEUTICS MARKET SEGMENTATION

• By Type

Based on type, the market is divided into epinephrine injection, antihistamines, oral immunotherapy, and other.

Epinephrine injection is expected to be the leading part of the segmentation type.

• By Distribution Channel

Based on the distribution channel, the market is divided into hospital pharmacy, retail pharmacy, and other.

Hospital pharmacy is expected to be the leading part of distribution channel segmentation.

DRIVING FACTORS

"Increase in Product Approvals for Treatment to Incite Market Progress"

Growing product approvals for the treatment of allergies are anticipated to surge market growth. Rising awareness about new biological compounds to improve treatment methods in patients and increasing development in the healthcare sector is estimated to fuel market growth. For instance, In January 2020, Aimmune Therapeutics, Inc., a biopharmaceutical company involved in developing treatments for possibly life-threatening food allergies and commercializing the drug. Further, Palforiza is the first approved treatment for peanut allergy by the U.S. Food and Drug Administration (FDA). These factors are estimated to surge peanut allergy therapeutics market growth in the upcoming years.

"Growth in Scientific and Commercial Activities to Foster Market Performance "

Growing number of scientific and commercial activities in the healthcare industry is anticipated to fuel market growth. Rising number of patients visiting clinics for allergy treatment and growing healthcare expenditure are predicted to fuel market growth. An increase in a number of population and enhanced healthcare infrastructure are projected to drive market growth. Growing number of allergy testing and rapid advancements in the healthcare sector is predicted to propel market progress in the coming years. Demand for drugs is increasing day by day owing to treating the complications associated with the allergy, such as sneezing, swelling, itchiness, diarrhea, abdominal pain, and cardiac arrest. Such advantages of the medicine are anticipated to fuel peanut allergy therapeutics market growth in the coming years.

RESTRAINING FACTORS

Lack of skilled professionals and complications associated with the treatment is projected to hamper market growth. Further, the high cost associated with the treatment is estimated to hinder peanut allergy therapeutics market growth in the upcoming years.

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PEANUT ALLERGY THERAPEUTICS MARKET REGIONAL INSIGHTS

"High Prevalence of Peanut Allergy in North America to Drive Market Share "

North America is estimated to account for the largest peanut allergy therapeutics market share owing to a high prevalence of peanut allergy. Increasing healthcare spending and rapid advancements in the healthcare sector. These factors are projected to drive market growth in the region. A growing number of patient visits to clinics for the treatment of this allergy is expected to magnify market growth.

KEY INDUSTRY PLAYERS

"Leading Players Adopt New Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List Of Top Peanut Allergy Therapeutics Companies

• Mylan (U.S.)
• Bayer (Germany)
• UCB Pharma (Belgium)
• J & J (U.S.)
• Perrigo (U.K.)
• GSK (U.K.)
• Kaleo (U.S.)
• Amneal Pharma (U.S.)
• ALK Abello (Denmark)
• Aimmune Therapeutics (U.S.)
• HUAPONT Pharm (China)
• Allergy Therapeutics (U.K.)
• ASIT Biotech (Belgium)
• Sanofi (France)
• DBV Technologies (France)
• HAL Allergy (Netherlands)
• Intrommune Therapeutics (U.S.)

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.