“Reliable Food Allergy Market Reports serve as an ideal solution for better market understanding and high business growth. It has become imperative in this rapidly changing market to take alert reports that alert you to the surrounding market conditions. This market report consists of a series of factors that have an influence on the market and industry, namely industry insights and critical success factors (CSF), market segmentation and value chain analysis, industry dynamics, drivers, obstacles, key opportunities, technology and application prospects, country level analysis and regional, competitive landscape, company market share analysis, and key company profiles.
Extensive research was conducted in the Food Allergy Market report involving thorough primary interviews with key customers, understanding their preferences and unmet needs. The base year of calculation in the report is taken in 2022 and the historic year is 2021 which will tell how the Food Allergy s Market will perform in the forecast year by informing the definition, classification, application and involvement of the market. Market studies help in making sales estimates of its products and thereby, establishing a harmonious adjustment between demand and supply of its products. Global Food Allergy Market Report serves to be an ideal solution for better understanding of the market.
Data Bridge Market Research analyses that the food allergy market was valued at USD 34.83 billion in 2021 and is expected to reach USD 53.85 billion by 2029, registering a CAGR of 5.60% during the forecast period of 2022 to 2029.
Explore Further Details about This Research Food Allergy Market Report https://www.databridgemarketresearch.com/reports/global-food-allergy-market
Report Scope and Market Segmentation
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REPORT METRIC |
DETAILS |
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Forecast Period |
2022 to 2029 |
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Base Year |
2021 |
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Historic Years |
2020 (Customizable to 2019 – 2014) |
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Quantitative Units |
Revenue in USD Billion, Volumes in Units, Pricing in USD |
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Segments Covered |
Food Source ( Dairy Products, Poultry Product, Tree Nuts, Peanuts, Shellfish, Wheat, Soy, Others), Symptoms (Anaphylaxis, Atopic Dermatitis, Others), Diagnosis (Skin-Prick Tests, Blood Test, Elimination Diet, Oral Food Challenge, Others), Treatment (Epinephrine, Oral Immunotherapy, Antihistamines, Others), End-Users (Hospitals, Specialty Clinics, Homecare, Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy, Others) |
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Countries Covered |
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America |
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Market Players Covered |
Akorn, Incorporated (US), Pfizer Inc. (US), GlaxoSmithKline plc (UK), Novartis AG (Switzerland), Mylan N.V. (US), Teva Pharmaceutical Industries Ltd.(Israel), Sanofi (France), Boehringer Ingelheim International GmbH. (Germany), AstraZeneca (UK), Johnson & Johnson Private Limited (US), Bayer AG (Germany), Merck & Co., Inc. (US), Prestige Consumer Healthcare Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), Bristol-Myers Squibb Company (US), Almirall, S.A (Spain), Zenomed Healthcare Private Limited (India), Cadila Pharmaceuticals (India), Astellas Pharma Inc. (Japan), Eli Lilly and Company (US) |
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Market Opportunities |
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Food Allergy Market Dynamics
Drivers
- High prevalence in children
The rising prevalence of food allergies in children is estimated to enhance the market’s growth. Children, particularly toddlers and newborns, are more prone to food allergies. Children’s digestive systems mature as they become older, and their bodies are less prone to absorb food or food components that cause allergies. Milk, soy, wheat, and egg allergies are usually outgrown in youngsters. Allergies to nuts and shellfish, in particular, are more likely to be lifelong. Peanut allergy among children has increased by 21% since 2010, according to a study released by the American College of Allergy, Asthma, and Immunology (ACAAI) in 2017. According to the research, around 2.5 percent of children in the United States are allergic to peanuts.
- Surging incidences of asthma
The growing incidences of asthma are estimated to propel the market’s growth rate during the forecast period of 2022-2029. Asthma and dietary allergies frequently coexist. Both food allergy and asthma symptoms are more likely to be severe when this happens.
- Increasing investment for healthcare infrastructure
Another significant factor influencing the growth rate of food allergy market is the rising healthcare expenditure which helps in improving its infrastructure. Also, various government organizations aims to improve the healthcare infrastructure by increasing funding and this will further influence the market dynamics.
- Growing number of geriatric population
The surging geriatric population is estimated to enhance the market’s expansion during the forecast period of 2022-2029. According to the World Health Organization (WHO), the worldwide geriatric population, estimated to be over 524 million in 2010, is expected to increase to nearly 2 billion by 2050. Due to their compromised immune systems, geriatrics are more susceptible to get Food allergy, further estimated to enhance the market’s growth rate.
Furthermore, rising initiatives by public and private organizations to spread awareness will expand the food allergy market. Additionally, changing lifestyle of people and rising level of disposable income will result in the expansion of Food allergy market.
Opportunities
- Increase in the number of research and development activities
Moreover, the market’s growth is fueled by an increase in the number of research and development activities. This will provide beneficial opportunities for the food allergy market growth. Along with this, rising drug approvals and launches will further propel the market’s growth rate.
Moreover, rising investment for the development of advanced technologies and increase in the number of emerging markets will further provide beneficial opportunities for the food allergy market growth during the forecast period.
Key questions answered in the Food Allergy Market are:
- What is Food Allergy Market?
- What was the Food Allergy Market size in 2022?
- What are the different segments of the Food Allergy Market?
- What growth strategies are the players considering to increase their presence in Food Allergy Market?
- What are the upcoming industry applications and trends for the Food Allergy Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Food Allergy Market?
- What major challenges could the Food Allergy Market face in the future?
- What segments are covered in the Food Allergy Market?
- Who are the leading companies and what are their portfolios in Food Allergy Market?
- What segments are covered in the Food Allergy Market?
- Who are the key players in the Food Allergy Market?
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