Peanut Allergy Treatment Market: Introduction
· Food allergy is common these days. Milk, protein, and shellfish are among the most common allergens. Peanut allergy is another common allergen. Currently, approximately, 2.5% of children are suffering from peanut allergy in the U.S.
· Peanut allergy leads to several other allergic reactions, including anaphylaxis. At present, there is no treatment available for peanut allergy. Some of the experimental drugs are preferred for treating peanut allergy. Food and Drug Administration (FDA) is expected to approve two or more immunotherapy drugs for peanut allergy treatment.
· Peanut allergy is also one of the leading causes of deaths. Although there is proof that peanut oral immunotherapy is effective in minimizing the severity of the allergy, such methods require proper intervention.
· The use of new biological compounds is suggested to have potential to treat peanut allergy, which is expected to improve the treatment method of peanut allergy in patients. For instance, companies such as Aimmune Therapeutics, Prota Technologies, Camallergy, and DBV Technologies are conducting clinical trials to develop peanut allergy treatment products. It is expected that “Viaskin Peanut”, which is under trial by DBV Technologies, could be the first immunotherapy product to be launched into the peanut allergy treatment market. The product is a dermal patch, which contains roughly 250 microgram of peanut protein drugs.
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Key Drivers of Global Peanut Allergy Treatment Market
· The global peanut allergy treatment market is expected to grow rapidly in the near future due to launch of new products in the industry. These products are expected to gain substantial demand in the market.
· Alternatively, rise in the number of patient visits to clinics for the treatment of this allergy and growth in commercial and scientific activities for research and development are expected to drive the global peanut allergy treatment market during the forecast period.
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North America to Hold a Major Share of Global Peanut Allergy Treatment Market
· North America is likely to dominate the global peanut allergy treatment market, followed by Europe and Asia Pacific. The dominance of the North America region can be attributed to the increase in prevalence of peanut allergy. According to the American Journal of Scientific Medicines Research 2016 findings, every year, peanut allergy affects an anticipated 1.3% to 1.5% of the total U.S. population. Of which, its affects 2.5% to 3% of the pediatric population. It is one the most common food allergies observed in children. Findings also suggest that the prevalence of peanut allergy in the U.S. grew three-fold between 1999 and 2010. Another study suggests that there has been an approximate 20% increase since 2011. It can be anticipated that there will be a persistent rise in the total number of adults living with peanut allergy. This is expected to exert substantial pressure on the U.S. healthcare system, schools, parents, employers, food making companies, etc. Additionally, government interventions pertaining to allocation of funds for conducting research and development activities based on new technologies are driving the market in the region.
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· Peanut allergy treatment market in Europe and Asia Pacific is anticipated to witness substantial growth during the forecast period due to rise in the number of food related allergy testing and per capita health care spending.
Key Players Operating in Global Peanut Allergy Treatment Market
The global peanut allergy treatment market is highly competitive with key manufacturers adopting numerous strategies to launch new product and gain market share. Some of the key players operating in the global peanut allergy treatment market are:
· Aimmune Therapeutics
· Johnson & Johnson Inc.
· Aimmune Therapeutics
· Teva Pharmaceutical Industries Ltd.
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