North America, Europe, and Australia peanut allergy treatment market, by Drug Type (Epinephrine, Antihistamine, (Loratadine, Diphenhydramine, Others), Palforzia, Pipeline Drugs(Viaskin Peanut, Ligelizumab, CA002, PRT120, Dupilumab), by Route of Administration (Oral, Parenteral, Intranasal and Epicutaneous), by Distribution Channel, (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Europe, and Australia) is estimated to be valued at US$ 1,252.6 Mn in 2022 and is expected to exhibit a CAGR of 11.7% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Key trends in market are that, market players are focusing on various strategies such as investments and funding for preclinical studies and product development for peanut allergy treatment which is expected to drive market growth over the forecast period. For instance, In August 2021, Moonlight Therapeutics Inc., a biotechnology company, announced that it was granted US$ 1.9 million funding for preclinical studies and product development that will enable preparations for a clinical trial for its lead program in peanut allergy. This funding was awarded through a Phase 2 small business grant from the National Institute of Allergy and Infectious Diseases (NIAID), a division of the National Institutes of Health (NIH).
North America, Europe, and Australia Peanut Allergy Treatment Market– Impact of Coronavirus (COVID-19) Pandemic
Lockdown was imposed in many countries globally, which had a negative impact on the economy of the private healthcare sector globally. The COVID-19 pandemic has hampered the growth of various pharmaceutical companies. For instance, in March 2020, Aimmune Therapeutics Inc., a pharmaceutical company, announced the slow launch of peanut allergy therapy, as the marketing strategies of the company were affected by the COVID-19 norms. The FDA requires physicians to undergo the Palforzia Risk Evaluation and Mitigation Strategies (REMS) program before they begin prescribing the therapy in their practices. Admission of pharmaceutical representatives to hospitals is likely to be restricted and physicians may avoid training events until the virus threat has been abated. Similarly, major pharmaceutical companies have also re-examined their launch strategies. Bristol-Myers Squibb Co. postponed the market entry of its multiple sclerosis drug Zeposia, which gained U.S. FDA approval in March.
Browse 75 Market Data Tables and 39 Figures spread through 370 Pages and in-depth TOC on “North America, Europe, and Australia Peanut Allergy Treatment Market”- Forecast to 2030, North America, Europe, and Australia peanut allergy treatment market, by Drug Type (Epinephrine, Antihistamine, (Loratadine, Diphenhydramine, Others), Palforzia, Pipeline Drugs(Viaskin Peanut, Ligelizumab, CA002, PRT120, Dupilumab), by Route of Administration (Oral, Parenteral, Intranasal and Epicutaneous), by Distribution Channel, (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Europe, Australia)
To know the latest trends and insights prevalent in the North America, Europe, and Australia Peanut Allergy Treatment Market, click the link below:
Moreover, increasing awareness programs for food allergies by organizations and market players is expected to drive market growth over the forecast period. For instance, in December 2021, Wake County Environmental Health and Safety (EH&S), based in U.S. a promoter of public health through service establishments, launched a new campaign to help protect residents from common food allergens – such as nuts and dairy products. According to Food Allergy Research & Education is a non-profit organization dedicated to food allergy awareness, education, research, and advocacy, there are nine major food allergens – milk, egg, peanut, tree nuts, wheat, soy, sesame, fish, and crustacean shellfish that are responsible for most of the serious food allergy reactions in the U.S.
Key Takeaways of the North America, Europe, and Australia peanut allergy treatment market:
- North America, Europe, and Australia peanut allergy treatment market is expected to exhibit a CAGR of 11.7% during the forecast period as key companies in the market are focusing on growth strategies such as partnership which is expected to boost growth of market. For instance, In November 2021, Angany Inc., a pharmaceutical company, announced that it entered into a partnership agreement with Dr. Wayne Shreffler, MD, PhD, Chief, Division of Pediatric Allergy & Immunology and Director of the Food Allergy Center at Massachusetts General Hospital and Mass General Hospital for Children, for a comprehensive series of preclinical studies of Angany’s peanut allergy biologic candidate BP/AH-01.
- Among Application, Hospital Pharmacies segment is estimated to hold largest market share in the North America, Europe, and Australia peanut allergy treatment market over the forecast period, owing to increasing number of patients’ admissions in hospitals. For instance, in February 2021, according to BMJ Publishing Group Ltd., a provider of journals, clinical decision support, and medical education, between years 1998 and 2018, 101,891 people were admitted to hospital for indication of anaphylaxis. Of these admissions, 30,700 (30%) were admitted due to a food allergy in the U.K. According to the same source, food anaphylaxis admissions increased from 1.23 to 4.04 per 100,000 population per year (from 1998 to 2018), an annual increase of 5.7% in U.K.
- Among the regions, North America is estimated to exhibit largest market share in the North America, Europe, and Australia peanut allergy treatment market over the forecast period, owing to increasing availability of products for peanut allergy treatment in the For instance, in May 2020, Kaléo, a privately held U.S.-based pharmaceutical company, announced that ALLERJECT (epinephrine injection, USP), would be widely available in pharmacies across Canada from May 19, 2020. ALLERJECT is indicated for the emergency treatment of anaphylaxis. Anaphylaxis is the term for a severe, life-threatening allergic reaction that some individual have to foods (like peanuts and shellfish), insect stings, certain medicines, latex, or other allergens.
- Major players operating in the North America, Europe, and Australia peanut allergy treatment market are, DBV Technologies, Aimmune Therapeutics, Inc., Prota Therapeutics Pty Ltd., COUR Pharmaceuticals, BlueWillow Biologics, HAL Allergy B.V., Allergy Therapeutics PLC., Novartis AG, Regeneron Pharmaceuticals, Inc., Vedanta Biosciences, Inc., Cambridge Allergy Ltd. (Camallergy), Angany Inc., Moonlight Therapeutics Inc., Allero Therapeutics B.V., Sanofi, Johnson & Johnson, Viatris Inc. (Mylan N.V.), Sun Pharmaceutical Industries Ltd., Bayer AG, Aurobindo Pharma Limited., Astellas Pharma Inc., Siolta Therapeutics, DESENTUM OY, ALK, Immunomic Therapeutics, Inc., Stallergenes Greer Ltd.
