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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Food Allergy Market Analysis
The market is driven by factors such as the rising prevalence of food allergies among children and adults. Due to the increasing prevalence, research institutes and key players in the market are expanding their sources and focusing on developing the best treatment for food-allergic patients across the 7 major markets. The continuous development of innovative solutions in the market can result in increased adoption as a major population is suffering from a common food allergy, especially to peanuts. This innovative technology and its increased adoption are also expected to trigger research and development activities to find solutions for other food allergies including tree nuts, propelling the food allergy market growth.
Additionally, a new research and innovation project is targeting the development of novel immunotherapeutic drugs for peanut and multiple tree nut allergies. The project is a collaboration between DTU National Food Institute, The Hospital for Sick Children (SickKids) in Canada, and the pharmaceutical company ALK. The project ALLEVIATE2 will complete the preclinical development of sublingual immunotherapy drug candidates for the treatment of peanut allergy first. If this goes well and happens to be successful, the project will subsequently apply the same therapeutic approach and develop new treatments for tree nut allergies as well. This project has been funded with 18.5 million DKK (Danish Krone) by the Innovation Fund Denmark.
Innovations and research activities in the field of food allergies have been driving the market growth due to the limited treatment options available in the. These efforts from researchers and institutes can assist pharmaceutical and biotechnology companies in developing new treatments that can improve the quality of life for food allergy patients, further boosting the market.
Food Allergy Market Report Snapshots
Food Allergy Treatment Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market attained a value of about USD 39.03 billion in 2023, driven by the increase in food allergies among people.
The market is anticipated to grow at a CAGR of 5.40% during the forecast period of 2024-2032 and is likely to reach a market value of USD 62.7 billion by 2032.
The increasing incidence of food allergies and increased awareness among people are the major factors driving the market growth.
Increased research and development activities are among the major trends influencing market growth.
The major regions of the market include the United States, Japan, EU-4 and the United Kingdom.
Food allergies can be caused by dairy products, poultry products, tree nuts, peanuts, shellfish, wheat, and soy, among others.
Symptoms of food allergies include anaphylaxis and atopic dermatitis, among others.
Tests include skin-prick tests, blood tests, elimination diet, and oral food challenges, among others.
Epinephrine, oral immunotherapy, and antihistamines, among others are some treatments used to treat food allergies.
Key players involved in the market are Pfizer Inc., GlaxoSmithKline plc, Novartis AG, Mylan N.V., Teva Pharmaceutical Industries, Sanofi, Boehringer Ingelheim International GmbH, AstraZeneca, Johnson & Johnson Private Limited, and Bayer AG.
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