Anaphylaxis Treatment Market to reach US$ 4,787.66 million by 2028 COVID-19 Impact and Global Analysis By The Insight Partners
According to our new research study on “Anaphylaxis Treatment Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Medication Type, Route of Administration, Allergy Type, and Distribution Channel,” the market is expected to reach US$ 4,787.66 million in 2028 from US$ 2,664.66 million in 2021; it is estimated to grow at a CAGR of 8.7% from 2021 to 2028. The report highlights trends prevailing in the market and factors driving its growth. The growth of the anaphylaxis treatment market is mainly attributed to the factors such as rising incidence of anaphylaxis, and recent approvals of epinephrine. However, poor accessibility to epinephrine auto-injectors in low-income countries hinders the market growth.
Anaphylaxis is an allergic reaction that can further lead to a fatal condition known as anaphylactic shock. Anaphylaxis occurs when the patient's body reacts to a foreign substance and produces a high amount of histamine that triggers an inflammatory response. As per the Asthma and Allergy Foundation of America (AAFA), in the US, every year, there are around 200,000 hospital visits due to food allergies. The growth of the anaphylaxis treatment market is attributed to the factors such as rising incidence of anaphylaxis, and recent approvals of epinephrine. However, poor accessibility to epinephrine auto-injectors in low-income countries hinders the market growth.
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Amneal Pharmaceuticals Inc; Bioprojet; Mylan N.V.; Adamis Pharmaceutical Corporation; Abbott; Pfizer Inc; Glaxosmithkline Plc; Merck And Co. Inc; Teva Pharmaceutical Industries Ltd; and ALK-ABELLó are among the leading companies operating in the anaphylaxis treatment market.
Rising Incidence of Anaphylaxis
Anaphylaxis is a severe, life‑threatening allergic reaction caused by vulnerability to allergens (foods, insect stings, or medicines) identified as a non-self by a human body. Typical indications of this condition include swallowing and breathing difficulties, skin redness and itching, accelerated heart rate, wheezing, rapid breathing rate, and lowering blood pressure. The incidence of anaphylaxis is increasing around the world. According to the National Institute for Health and Care Excellence (NICE), anaphylaxis causes more than 20 deaths every year in the UK. As per the European Academy of Allergy and Clinical Immunology data, ~150 million Europeans suffer from chronic allergic diseases every year. Therefore, the rising incidence of allergies is leading to surge in anaphylaxis cases. Moreover, as per the Allergy Facts by the American College of Allergy, Asthma & Immunology, more than 50 million people experience different types of allergies every year.
1–15% of the US population is at the risk of having an anaphylactic reaction when exposed to one or more allergens, and up to 1% of these patients die due to anaphylaxis. The condition results in ~1,500 deaths per year in the US; also list allergies as the sixth-leading circumstance of chronic illness. Moreover, as per the Asthma and Allergy Foundation of America (AAFA), due to increasing food allergic reactions, the number of hospital visits has increased. Food allergies are the cause of more than 200,000 emergency room (ER) visits annually. Food Allergy Research & Education states that more than 32 million Americans live with life-threatening food allergies. Due to the growing prevalence of allergies, the economic burden on healthcare systems in many countries is increasing. For instance, according to Allergy Facts, the annual cost of managing the cases of allergies is more than US$ 18 billion in the US. Thus, the burgeoning incidence of anaphylaxis is driving the growth of the market.
Based on allergy type, the anaphylaxis treatment market is segmented into food allergy, medications, insect stings, and others. The food allergy segment held the largest share of the market in 2020 and is estimated to register the highest CAGR in the market during the forecast period. The increasing number of food allergy incidences is contributing to the market growth for this segment. For instance, according to the Food Allergy & Anaphylaxis Connection Team (FAACT), in America, food allergies affect as many as 32 million, including 26 million adults and 5.6 million children. They are approximately affecting 7.6% of children and 10.8% of adults in the United States.
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