Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "House Dust Mite Allergy Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The house dust mite allergy market size has grown rapidly in recent years. It will grow from $1.9 billion in 2023 to $2.18 billion in 2024 at a compound annual growth rate (CAGR) of 14.9%. The house dust mite allergy market size is expected to see rapid growth in the next few years. It will grow to $3.69 billion in 2028 at a compound annual growth rate (CAGR) of 14.0%.
The anticipated growth in the forecast period can be ascribed to factors such as regulatory support and allergen labeling, the increasing prevalence of allergies, the rise of telemedicine and remote care, a growing emphasis on precision medicine, and the expansion of allergen-avoidance products. Prominent trends expected in the forecast period include public health awareness campaigns, the integration of digital health solutions, a heightened focus on indoor environmental quality, the growth of immunotherapy solutions, and advancements in allergen avoidance products.
The growth of the house dust mite allergy market is anticipated to be driven by the increasing prevalence of asthma diseases. Asthma, a condition causing airways to constrict and result in breathing difficulties, is exacerbated by exposure to surrounding dust, making individuals more prone to allergies.
This heightened susceptibility increases the demand for treatments addressing house dust mite allergies. Notably, a report by the London School of Hygiene and Tropical Medicine in October 2021 indicated a more than 2% increase in asthma prevalence in Africa and a 1% increase every decade in Europe. Additionally, between 2021 and 2022, hospital admissions for children with asthma surged by 149 percent in England and Wales, as reported by Asthma + Lung UK. Hence, the escalating prevalence of asthma diseases is a key driver for the house dust mite allergy market.
The growth of the house dust mite allergy market is further expected to be propelled by the increasing healthcare expenditure. The rise in healthcare expenditure contributes to enhanced access to healthcare services, advancements in diagnostic technologies, funding for research and development, support for targeted therapy development, expanded availability of allergy management products, improved health insurance coverage, and government initiatives addressing allergy challenges.
The growth of the house dust mite allergy market is expected to be fueled by the increase in urbanization. Urbanization, marked by the expansion of cities and migration from rural to urban areas, creates conditions favorable for the proliferation of microscopic allergens such as dust mites. The trend of escalating urbanization, coupled with growing awareness of indoor allergens and their health impact, is projected to drive demand for diagnostic tools, treatments, and preventive measures related to house dust mite allergies.
Major companies are focused on developing innovative anti-allergy drugs to strengthen their market position. These drugs aim to alleviate or prevent allergy symptoms. For instance, Bausch + Lomb launched Alaway Preservative Free antihistamine eye drops in February 2021. This FDA-approved over-the-counter (OTC) preservative-free antihistamine eye itch relief drop addresses itchy eyes, a common symptom for the estimated 80% of allergy sufferers. The product provides fast and lasting relief without preservatives, utilizing a prescription-strength formula to block histamine release and reduce allergic inflammation. This innovation aims to effectively address eye itch symptoms for allergy sufferers.
Major companies in the house dust mite allergy market are leveraging AI-powered allergy testing to gain a competitive edge. Allergy testing evaluates an individual's immune response to specific allergens. Metropolis Healthcare, in May 2023, launched a 4th generation allergy testing technology based on Component Resolved Diagnostics (CRD) and powered by artificial intelligence.
This innovative testing platform assists clinicians in making informed decisions and offers insights into personalized treatment courses for allergic diseases. The technology, utilizing a Nanotechnology-based Multiplex system, enables the detection of specific IgE antibodies against 295 different allergens through a simple blood test, enhancing the precision of allergy-related diagnostic services.
North America was the largest region in the house dust mite allergy market in 2023. Asia-pacific is expected to be the fastest-growing region in the house dust mite allergy market report during the forecast period. The countries covered in the house dust mite allergy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Key Topics Covered:
1. Executive Summary
2. House Dust Mite Allergy Market Characteristics
3. House Dust Mite Allergy Market Trends and Strategies
4. House Dust Mite Allergy Market - Macro Economic Scenario
4.1. Impact of High Inflation on the Market
4.2. Ukraine-Russia War Impact on the Market
4.3. COVID-19 Impact on the Market
5. Global House Dust Mite Allergy Market Size and Growth
5.1. Global House Dust Mite Allergy Market Drivers and Restraints
5.1.1. Drivers of the Market
5.1.2. Restraints of the Market
5.2. Global House Dust Mite Allergy Historic Market Size and Growth, 2018-2023, Value ($ Billion)
5.3. Global House Dust Mite Allergy Forecast Market Size and Growth, 2023-2028, 2033F, Value ($ Billion)
6. House Dust Mite Allergy Market Segmentation
6.1. Global House Dust Mite Allergy Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Tablets
- Nasal Drops
- Injectable
6.2. Global House Dust Mite Allergy Market, Segmentation by Treatment Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Medication
- Immunotherapy
- Nasal Irrigation
- Other Types
6.3. Global House Dust Mite Allergy Market, Segmentation by Diagnosis, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Skin Prick Test (SPT)
- Specific Immunoglobulin E (IgE) Blood Test
- Other Diagnosis
6.4. Global House Dust Mite Allergy Market, Segmentation by Dosage Forms, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Solid
- Liquid
6.5. Global House Dust Mite Allergy Market, Segmentation by End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Hospitals
- Homecare
- Specialty Clinics
- Other End Users
7. House Dust Mite Allergy Market Regional and Country Analysis
7.1. Global House Dust Mite Allergy Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global House Dust Mite Allergy Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
A selection of companies mentioned in this report includes
- Allergy Therapeutics Plc
- Bayer AG
- Catalent Inc.
- GSK Plc
- Merz Pharma GmbH & Co KGaA
- Sanofi S A
- Shionogi & Co. Ltd.
- Stallergenes Greer International AG
- Merck & Co. Inc.
- Torii Pharmaceutical Co. Ltd.
- Ergomed PLC
- DMS Group
- HAL Allergy Group
- Trio Lifescience Private Limited
- Teva Pharmaceutical Industries Ltd.
- Eli Lilly and Company
- Genentech Inc.
- Anergis Sa
- Biomay Ag
- Zhejiang I-biological Technology Co. Ltd.
- Johnson and Johnson Inc.
- Boehringer Ingelheim International GmbH
- Circassia Pharmaceuticals Plc
- Seqirus UK Limited
- GlaxoSmithKline
- Novartis AG
- AstraZeneca
- Bristol-Myers Squibb Company
- Mylan N.V.
- Pfizer Inc.
- Regeneron Pharmaceuticals Inc.
- Roche Holding AG
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