Growing Awareness about Food Allergy Driving Anaphylaxis Treatment: Fact.MR
Investments towards promotion of fertility treatment services aimed towards international clients is likely to remain key to growth strategies in terms of sales in a fairly competitive industry.
Fact.MR, Rockville MD: An ongoing report on the anaphylaxis treatment market published by market research company Fact.MR has projected very strong growth prospects through 2021 and further. The covid-19 pandemic has created opportunities for the anaphylaxis treatment industry owing to known risks of allergic reactions arising from the administration of varied covid-19 vaccine dosages. The market is likely to witness a gradual recovery through 2021, as governments are relaxing lockdown restrictions towards elective medical procedures.
According to a report by the World Allergy Organization, up to 77 people out of every 100,000 around the world are inflicted by anaphylaxis. Also, estimated prevalence rates range from 2% in the United States of America, to 0.1% in Korea, and between 0.6 to 1% of the population in Australia. Improvements to the reimbursement scenario, and better health awareness in low- and middle-income countries generate opportunities for anaphylaxis treatment.
Anaphylaxis, and fatalities from the condition, are reported to be more common in adults as compared to children. Deaths from anaphylaxis primarily occur among adults, followed by children in the under the age of 5, and then in adolescents. This is a key trend that will affect long term developments in the industry.
“The introduction of generic auto injector products in the anaphylaxis treatment market is expected to generate highly lucrative growth opportunities for investors in the sector due to increasing interest from private insurance providers. Improvements to reimbursement schemes and reduced coverage on cost prohibitive auto injectors while covering affordable generics will positively influence the long-term sales prospects in the industry,” comments a Fact.MR analyst.
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Key Takeaways from Fact.MR’s Anaphylaxis Treatment Market
- Epinephrine dosage treatments remain a popular treatment choice for manufacturers in the sector owing to fast-acting efficacy.
- Oral treatment options are gaining ground at a faster rate owing to ease of administration and improvements to patient outcomes.
- Food allergy applications will remain a key contributor to demand owing to poor lifestyle and diet choices and increasing awareness among patients.
- Drug stores will reflect strong growth owing to ease of access to patients, and improvements to product design for home use.
- The United States will reflect strong growth better patient awareness, and facilities for early diagnostics.
- China and India will emerge has lucrative markets owing to improving awareness in urban areas.
Anaphylaxis Treatment Market – Prominent Drivers
- Growing innovations in drug delivery devices and materials are key contributors to demand in the market.
- Changes in lifestyle and food habits influence incidences of allergic reactions creating opportunities in the industry.
- Investments by governments in emerging economies towards advanced diagnostics will bolster the anaphylaxis treatment market.
Anaphylaxis Treatment Market – Key Restraints
- High prices associated with branded products is a key factor holding back anaphylaxis treatment adoption.
- Lack of awareness about the usage of auto injector products in the industry hurt sales and adoption.
Discover more about the anaphylaxis treatment market with figures data tables and table of contents. You can also find detailed market segmentation at https://www.factmr.com/report/3417/anaphylaxis-treatment-market
Major players in the anaphylaxis treatment market include but are not limited to Adamis Pharmaceutical Corporation, ALK-Abello, Teva Pharmaceutical Industries Ltd., Pfizer Inc., Merck & Co. Inc., Mylan N.V., Amneal Pharmaceuticals, and GlaxoSmithKline Plc.
Leading players participating in the anaphylaxis treatment market are increasingly focusing on research and development efforts including major clinical trials for drug development and therapeutics. Strategic agreements for better scope of commercialization supports market growth efforts.
In February 2021, Bryn Pharma LLC announced positive results for a multi-dose study for BRYN-NDS1C, an epinephrine nasal spray for both short- and long-term pharmacokinetic outcomes as compared to injector alternatives.
Hoth Therapeutics Inc. a leading biopharmaceutical market player announced the expansion of its licensing agreement with the North Carolina State University including the development and commercialization of treatments for anaphylaxis and mast cell cancers worldwide.
More Insights on the Anaphylaxis treatment Market
In its latest report, Fact.MR offers unbiased analysis of the global anaphylaxis treatment market. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of medication type (epinephrine, antihistamines, steroids, beta-agonist, H2 blockers, vasodilators, and others), route of administration (oral, parenteral, and others), allergy type (food allergy, medications, insect stings, latex allergy, and others), and distribution channel (hospital pharmacies, retail sales, drug store, mail order pharmacies) across seven regions (North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and Middle East & Africa).
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