NORTH AMERICA, EUROPE, AND AUSTRALIA PEANUT ALLERGY TREATMENT MARKET ANALYSIS

Market Challenges And Opportunities

North America, Europe, and Australia Peanut Allergy Treatment Market– Impact of Coronavirus (COVID-19) Pandemic

Lockdown was imposed in several countries globally, which had a negative impact on the economy of the private healthcare sector globally. This lockdown resulted in the closure of industrial establishments, except manufacturing of essential commodities and disruption in supply chain of products. Thus, COVID-19 pandemic has affected the economy in three main ways: by directly affecting the production and demand, by creating disruptions in distribution channels, and by its financial impact on firms and financial markets. Supply chain and manufacturing activities in North America, Asia Pacific, Europe, and other global regions had been disrupted due to lockdown. Moreover, healthcare providers were facing challenges in terms of additional manpower, equipment, consumables, and other resources, which were required to ensure safety in hospitals and provide treatment to patients with other diseases, which has also impacted the overall healthcare market negatively. One of the biggest challenges is regarding the supply of raw materials required for manufacturing drugs due to irregularities in the transportation system. Furthermore, due to the increasing number of patients suffering from COVID-19 and other life-threatening illnesses, product distributors are seeing erratic demand for products from retailers.

North America, Europe, and Australia Peanut Allergy Treatment Market: Restraint

The high cost of peanut allergy drug is expected to hinder the growth of North America, Europe, and Australia peanut allergy treatment market over the forecast period. Palforzia is the only treatment approved by the U.S. Food and Drug Administration for children in age group of 4 to 17 years, allergic to peanuts. In January 2020, the U.S. FDA approved palfori allergan powder to mitigate allergic reactions, including anaphylaxis, which may occur with accidental exposure to peanuts. Palforzia costs from US$ 2.77 to US$ 35.60 per unit, depending on the different dosages (Powder for oral administration supplied in 0.5 mg, 1 mg, 10 mg, 20 mg and 100 mg Capsules or 300 mg Sachets.). Monthly cost of palforzia is around US$ 890 and an annual price of Palforzia is approximately US$ 11,000 per year. Thus, the high cost of peanut allergy drug makes it unaffordable for patients and this unaffordability of drug by patients is expected to hamper the market growth.