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

North America, Europe, and Australia Peanut Allergy Treatment MarketSize and Trends

The North America, Europe, and Australia Peanut Allergy Treatment Market is estimated to be valued at US$ 1,252.6 million in 2022 and is expected to exhibit a CAGR of 11.7% during the forecast period (2022-2030).

Increasing prevalence of peanut allergy is expected to drive market growth during the forecast period.

Increasing prevalence of peanut allergy is expected to drive growth of the North America, Europe, and Australia peanut allergy treatment market over the forecast period. For instance, According to a factsheet provided by Allergy UK, is a British medical charity dedicated to helping adults and children with their allergies, in July 2021, Peanut allergy affected around 2% of children in the UK. Peanuts are a common cause of food allergy. It usually develops in early childhood but, sometimes, peanut allergy can appear in adult age. Peanut allergy remains constant and only approximately 1 in 5 children outgrow their allergy by 10 years of age.

Increasing product approvals for treatment of peanut allergy are expected to drive market growth during the forecast period.

Increasing product approvals for treatment of peanut allergy are expected to drive the North America, Europe, and Australia Peanut Allergy Treatment Market growth during the forecast period. For instance, In January 2020, Aimmune Therapeutics, Inc., a biopharmaceutical company engaged in developing and commercializing treatments for potentially life-threatening food allergies, announced that the U.S. Food and Drug Administration (FDA) approved Palforzia [Peanut (Arachis hypogaea) Allergen Powder-dnfp]. Palforzia is the first approved treatment for patients with peanut allergy.