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House Dust Mite Allergy Market Report 2024 - House Dust Mite Allergy Market Growth, Share, And Insights
House Dust Mite Allergy Market
According to The Business Research Company's, The house dust mite allergy market size has grown rapidly in recent years. It will grow from $1.9 billion in 2023 to $2.18 billion in 2024 at a compound annual growth rate (CAGR) of 14.9%. The growth in the historic period can be attributed to increased awareness and education, advancements in diagnostic tools, research and clinical studies, healthcare infrastructure development, regulatory guidelines and standards.
The house dust mite allergy market size is expected to see rapid growth in the next few years. It will grow to $3.69 billion in 2028 at a compound annual growth rate (CAGR) of 14.0%. The growth in the forecast period can be attributed to regulatory support and allergen labeling, rising allergy prevalence, telemedicine and remote care, increased focus on precision medicine, expansion of allergen-avoidance products.. Major trends in the forecast period include public health awareness campaigns, integration of digital health solutions, focus on indoor environmental quality, growth in immunotherapy solutions, advancements in allergen avoidance products.
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Market Drivers and Trends:
The prevalence of asthma diseases is expected to propel the growth of the house dust mite allergy market going forward. Asthma refers to a disease that causes one's airways to constrict, swell and occasionally create more mucus that affects the lungs creating breathing issues. The patients suffering from asthma could easily affect by the surrounding dust which makes them more allergic and would increase their disease condition and need of several anti-allergic drugs, as a result, the increasing prevalence of asthma diseases increases the demand for house dust mite allergy treatments. For instance, in October 2021, according to the London School of Hygiene and Tropical medicine, an England-based public university, the prevalence of asthma increased by about more than 2% in Africa and 1 % every 10 years in Europe. Furthermore, in April 2023, according to Asthma + Lung UK, a UK-based non-profit organization defending the freedom to breathe, between 2021 and 2022, hospital admissions for children with Asthma surged by 149 percent in England and Wales. Therefore, the prevalence of asthma diseases is driving the house dust mite allergy market.
Major companies operating in the house dust mite allergy market are focused on developing innovative anti-allergy drugs to strengthen their position in the market. Anti-allergy drugs refer to pharmaceutical substances designed to alleviate or prevent the symptoms of allergies. For instance, in February 2021, Bausch + Lomb, a Canada-based eye health products company, launched Alaway Preservative Free antihistamine eye drops, the first FDA-approved over-the-counter (OTC) preservative-free antihistamine eye itch relief drop. Targeting the estimated 80% of allergy sufferers experiencing itchy eyes, especially during allergy season, the product provides fast and lasting relief without preservatives. Alaway Preservative Free utilizes a prescription-strength formula to block histamine release and reduce allergic inflammation, delivering relief within minutes and lasting up to 12 hours with one dose. This new option aims to address eye itch symptoms more effectively for allergy sufferers.
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Major Key Players of the Market:
Allergy Therapeutics Plc; Bayer AG; Catalent Inc.; GSK Plc; Merz Pharma GmbH & Co KGaA; Sanofi S A; Shionogi & Co. Ltd.; Stallergenes Greer International AG; Merck & Co. Inc.; Torii Pharmaceutical Co. Ltd.; Ergomed PLC; DMS Group; HAL Allergy Group; Trio Lifescience Private Limited; Teva Pharmaceutical Industries Ltd.; Eli Lilly and Company; Genentech Inc.; Anergis Sa; Biomay Ag; Zhejiang I-biological Technology Co. Ltd.; Johnson and Johnson Inc.; Boehringer Ingelheim International GmbH; Circassia Pharmaceuticals Plc; Seqirus UK Limited; GlaxoSmithKline; Novartis AG; AstraZeneca; Bristol-Myers Squibb Company; Mylan N.V.; Pfizer Inc.; Regeneron Pharmaceuticals Inc.; Roche Holding AG
House Dust Mite Allergy Market 2024 Key Insights:
• The house dust mite allergy market will grow to $3.69 billion in 2028 at a compound annual growth rate (CAGR) of 14.0%.
• Rising Prevalence Of Asthma Diseases To Drive Market Growth
• Product Innovations Transforming The House Dust Mite Allergy Market
• North America was the largest region in the house dust mite allergy market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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