Covina, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Prophecy Market Insights forecasts that the global food allergy treatment market size and share will grow from USD 6.15 Billion in 2024 to USD 13.4 Billion by 2034, driven by a compound annual growth rate (CAGR) of 8.9% throughout the forecast period.
Food Allergy Treatment Market Report Overview
Food Allergy Treatment is a rapidly evolving field focused on managing and potentially curing adverse immune responses triggered by specific foods. Food allergies can cause a wide range of symptoms, from mild reactions like hives and gastrointestinal discomfort to severe, life-threatening anaphylaxis.
Common allergens include peanuts, tree nuts, shellfish, milk, eggs, wheat, soy, and fish. The rising prevalence of food allergies, particularly among children, has driven significant advancements in both the diagnosis and treatment of these conditions. Treatments range from allergen avoidance and emergency interventions to emerging therapies such as oral immunotherapy (OIT) and biologics designed to desensitize the immune system.
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Our Free Sample Report includes:
- Overview & introduction of market study
- Revenue and CAGR of the market
- Drivers & Restrains factors of the market
- Major key players in the market
- Regional analysis of the market with a detailed graph
- Detailed segmentation in tabular form of market
- Recent developments/news of the market
- Opportunities & Challenges of the Market
Competitive Landscape:
The Food Allergy Treatment Market is characterized by rapid growth, technological innovation, and fierce competition. Companies are expanding their global presence, focusing on sustainability, and diversifying their service offerings to stay competitive.
Some of the Key Market Players:
- Johnson & Johnson
- Sanofi
- Novartis Pharmaceuticals
- Aimmune Therapeutics
- DBV Technologies
- Regeneron Pharmaceuticals
- Thermo Fisher Scientific
- ALK Abello
- Mast Group
- Food Allergy Research & Education (FARE)
- Asthma and Allergy Foundation of America (AAFA)
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Analyst View:
The target market is characterized by a shift from traditional management practices like strict allergen avoidance and emergency treatment to proactive and preventive approaches that aimed at desensitizing patients and potentially offering long-term solutions. This shift is supported by substantial investments in research and development, particularly in immunotherapy and biologics, which are expected to transform the treatment landscape.
Market Dynamics:
Drivers:
Advancements in Immunotherapy
- Immunotherapy is emerging as a promising approach in food allergy treatment offering potential long-term solutions by gradually desensitizing patients to specific allergens. Techniques such as oral immunotherapy (OIT), sublingual immunotherapy (SLIT) and epicutaneous immunotherapy (EPIT) are gaining traction as they show efficacy in reducing allergic reactions.
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Market Trends:
Personalized Medicine and Targeted Therapies
- The trend toward personalized medicine is significantly impacting the Food Allergy Treatment Market. Advances in genetic testing and biomarker identification are enabling more targeted approaches to treatment, allowing for therapies that are tailored to the specific needs of individual patients.
Segmentation:
Food Allergy Treatment Market is segmented based on Food Source, Allergic Reaction, End-User, and Region.
Food Source Insights
- Peanut allergies is anticipated to boost the growth for target market as due to critical need for effective management of peanut allergies there is extensive research and development aimed at finding new therapies and treatment options.
Allergic Reaction Insights
- Immunoglobulin E (IgE) mediated is anticipated to boost the growth for target market as there is a well-established array of treatment and management options specifically targeting IgE-mediated food allergies.
End-User Insights
- Blood test is anticipated to boost the growth for target market as they can be performed without requiring the patient to ingest potential allergens which can be risky and uncomfortable.
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Recent Development:
- In February 2024, The FDA approved Xolair injection for the treatment of immunoglobulin E-mediated food allergies in healthy adults and children one year of age and older. This medication reduces the risk of allergic reactions (Type I), which include anaphylaxis, that can happen when a person unintentionally comes into contact with certain foods. Allergy-related foods must still be avoided by patients using Xolair. Xolair is not approved to treat allergic reactions, including anaphylaxis, right away. It is intended to be used frequently to reduce the chance of allergic reactions.
Regional Insights
- North America: In this region the target market is highly developed and characterized by a sophisticated healthcare infrastructure and advanced diagnostic and therapeutic options.
- Asia Pacific: The market in this region is characterized by a growing adoption of advanced diagnostic techniques and treatments, including allergy medications, immunotherapy, and emerging biologic therapies.
Browse Detail Report on "Food Allergy Treatment Market Size, Share, By Food Source (Peanut Allergies, Tree Nut Allergies, Dairy Product Allergies, and Others), By Allergic Reaction (Immunoglobulin E (IgE) Mediated, and Non-IgE Mediated), By Diagnosis Tests (Skin Prick Test(SPT), Blood Test, Oral Food Challenge (OFC) and Others), By Treatment Type (Antihistamines, Oral Immunotherapy (OIT), Epinephrine Auto-Injectors (EpiPens), Other Treatments), By End-Use (Hospitals and Clinics, Ambulatory Care Settings, Home Care), and By Region - Trends, Analysis, and Forecast till 2034" with complete TOC @ https://www.prophecymarketinsights.com/market_insight/food-allergy-treatment-market-5477
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