From GlobeNewswire: 2024-06-28 22:00:00

The Global Food Allergy Treatment Market is set to grow from USD 5.67 Billion in 2023 to USD 13.76 Billion by 2033, with a CAGR of 9.27% during the projected period. An allergic reaction to food can lead to mild to severe symptoms due to an immune system response. Market growth is driven by the rising prevalence of allergies globally, leading to the development of various medications. Innovative therapies, such as highly purified allergen extracts and recombinant allergens, are supporting the advancement of food allergy treatment.

The peanut segment dominates the food allergy treatment market, with increasing rates of peanut allergies and research driving pharmaceutical development. Epinephrine is predicted to dominate the market due to its recommendation as first-line therapy for significant allergic reactions. The parenteral segment is expected to see the fastest growth, offering precise area control for effective treatment. Hospital pharmacies are the largest segment, given the need for specialized care for severe allergies.

North America leads the food allergy treatment market, attributing to rising food allergy cases and the availability of essential medical facilities. Asia Pacific is expected to see the fastest growth, aided by a growing number of generic medication manufacturers. Major players in the market include DBV Technologies, Sanofi, Novartis International AG., and more. Recent developments include Gold Standard Diagnostics introducing the SENSIStrip Gluten PowerLine Lateral Flow Device for allergy testing. The market is segmented by allergen type, drug type, route of administration, end-user, and region for effective analysis and forecast.

In conclusion, the Global Food Allergy Treatment Market is witnessing substantial growth, driven by the increasing prevalence of food allergies worldwide. Major players are introducing innovative therapies and medications to cater to the rising demand for food allergy treatment. Market segmentation allows for a comprehensive analysis of the market trends, key players, and regional growth patterns.



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