Global Food Allergy Treatment Market Size, Share, Revenue, Trends And Drivers For 2024-2033

Food Allergy Treatment Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 29, 2024 /EINPresswire.com/ -- The global food allergy treatment market is projected to grow from $6.08 billion in 2023 to $6.82 billion in 2024, at a compound annual growth rate (CAGR) of 12.2%. The food allergy treatment market is expected to reach $10.84 billion by 2028 at a compound annual growth rate (CAGR) of 12.3%, driven by factors such as increasing food adulteration, a growing geriatric population, and advancements in medical technology and diagnostic techniques.

Increasing Food Adulteration Drives Market Growth
The increasing incidence of food adulteration is a significant factor contributing to the growth of the food allergy treatment market. Food adulteration refers to the intentional alteration of food products by adding inferior, harmful, or unauthorized substances, or by removing valuable ingredients, often to increase quantity or enhance appearance at the expense of quality and safety. This growing practice, driven by economic gains and supply chain complexities, increases the risk of allergic reactions, thereby propelling demand for effective food allergy treatment market. For instance, in November 2022, Europol reported the seizure of nearly 27,000 tons of counterfeit food and 15 million liters of alcoholic beverages as part of Operation OPSON XI, underscoring the global scale of food adulteration.

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Major Players and Market Trends
Key players in the food allergy treatment market include Pfizer Inc., F. Hoffmann-La Roche Ltd., Merck & Co. Inc., Bayer AG, Sanofi S.A., AstraZeneca PLC, Novartis AG, and others. These companies focus on developing innovative therapies such as monoclonal antibodies to address the underlying mechanisms of food allergies and provide more effective treatments for patients. Monoclonal antibodies represent a promising approach for treating food allergies by targeting specific components of the immune system involved in allergic reactions.

In a notable development, Novartis AG received FDA approval for Xolair (omalizumab) in February 2024. Xolair, a humanized monoclonal antibody, is administered subcutaneously and works by inhibiting the binding of IgE antibodies, thus decreasing the release of chemicals responsible for allergy symptoms. This approval was based on positive data from the Phase III OUtMATCH study, which demonstrated the ability of Xolair to help food allergy patients, including young children, tolerate small amounts of common allergens such as peanuts, milk, egg, and cashews without an allergic reaction.

Segments:
Drug Type: Antihistamines, Decongestants, Corticosteroids, Mast Cell Stabilizers, Leukotriene Inhibitors, Nasal Anti-Cholinergic, Immuno-Modulators, Epinephrine, Immunotherapy
Route Of Administration: Parenteral, Oral
Allergen Type: Dairy Products, Poultry Products, Tree Nuts, Peanuts, Shellfish, Wheat, Soys, Other Allergens
End-Use: Hospital Pharmacies, Retail Pharmacies, Other End-Uses

Geographical Insights: North America Leading the Market
North America was the largest region in the food allergy treatment market in 2023, driven by advanced healthcare infrastructure and high awareness of food allergies. Asia-Pacific is expected to be the fastest-growing region during the forecast period, reflecting rising healthcare spending, an increasing diagnosis of food allergies, and growing awareness of food safety.

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Food Allergy Treatment Global Market Report 2024 from TBRC covers the following information:
Market size data for the forecast period: Historical and Future
Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Food Allergy Treatment Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on food allergy treatment market size, food allergy treatment market drivers and trends, food allergy treatment market major players, competitors' revenues, food allergy treatment market positioning, and food allergy treatment market growth across geographies. The food allergy treatment market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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