The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

According to The Business Research Company’s Food Allergy Treatment Global Market Report 2023, the food allergy treatment market is expected to show promising growth in the forecast period.

• Current Market Size: The food allergy treatment market has experienced significant growth, expanding from $6.08 billion in 2023 to an expected $6.82 billion in 2024.
• CAGR: This represents a compound annual growth rate (CAGR) of 12.2%, driven by factors like the increasing prevalence of food allergies and rising regulatory approvals.
• Historic Drivers: The market’s expansion can be attributed to the development of emergency treatments and greater investment in modern technologies.

Future Outlook: Sustained Expansion

• Projected Growth: The market is expected to continue its upward trajectory, reaching $10.84 billion by 2028.
• CAGR: This translates to a CAGR of 12.3% over the forecast period.
• Key Drivers: Growth will be propelled by the increasing diagnosis of food allergies, rising healthcare spending, and the growing geriatric population.

Major Trends:

• • High degree of innovation and technological advancements.
  • Improvement in medical technology and diagnostic techniques.
  • Increasing use of mobile apps and telemedicine services.
  • A surge in research and development activities.
  • Rising number of drug approvals and launches.

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Impact of Food Adulteration on the Market

• Definition: Food adulteration involves the intentional alteration of food products, often for economic gain, leading to compromised quality and safety.
• Rising Concern: The increasing incidence of food adulteration is expected to drive market growth by raising the risk of allergic reactions.
• Recent Example: In November 2022, Europol reported the seizure of nearly 27,000 tons of counterfeit food, highlighting the growing concern over food adulteration.

Leading Players in the Market

• Major Companies: The market is dominated by companies like Pfizer Inc., F. Hoffmann-La Roche Ltd., Merck & Co. Inc., Bayer AG, and Sanofi S.A.
• Key Developments: These companies are focused on innovative therapies, such as monoclonal antibodies, to provide more effective treatments for food allergies.

Advancements in Food Allergy Treatment

• Monoclonal Antibodies: These represent a promising approach for treating food allergies by targeting specific components of the immune system.
• Recent Approval: In February 2024, Novartis AG received FDA approval for Xolair (omalizumab), a monoclonal antibody designed to reduce IgE-mediated food allergies.
• Study Results: The Phase III OUtMATCH study showed that Xolair allowed food allergy patients to tolerate small amounts of allergens like peanuts and milk without allergic reactions.

Strategic Acquisitions: Expanding Treatment Portfolios

• Stallergenes Greer’s Acquisition: In September 2023, Stallergenes Greer acquired Nestlé’s peanut allergy treatment business, allowing Nestlé to focus on its core strengths.
• Market Impact: This acquisition enables Stallergenes Greer to expand its allergy treatment portfolio, strengthening its position in the market.

Market Segmentation and Regional Insights

• Drug Type: The market is segmented into antihistamines, decongestants, corticosteroids, mast cell stabilizers, and more.
• Route of Administration: Treatment options are available in parenteral and oral forms.
• Allergen Type: Common allergens include dairy products, poultry, tree nuts, peanuts, shellfish, wheat, and soys.
• End-Use: Major end-users include hospital pharmacies and retail pharmacies.
• Regional Insights: North America was the largest market in 2023, while Asia-Pacific is expected to be the fastest-growing region during the forecast period.

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