ID: MRFR/Pharma/3312-CR | 133 Pages | Published By Rahul Gotadki on July 2019
The egg allergy market is emerging rapidly in the global economy and will further rise to extreme heights in the near future.The egg allergy market is anticipated to reach USD 2016.43 Million by 2030 at 6.90% CAGR during the forecast period 2022-2030.
The global egg allergy market is rising at a faster rate due to the surge of egg allergy incidence taking place in recent times. According to the British Society for Allergy & Clinical Immunology data, the ubiquity of food allergies has grown, and 6 to 8 percent of children getting affected by the same. These allergies affect both infants as well as adults and can happen in few minutes or take few hours. Egg allergy symptoms in adults can happen due to egg overreaction by the body's immune system. The body's immune system identifies egg protein as hazardous and triggers an allergic reaction. The extreme ubiquity of egg allergies will expand the egg allergy market size in the forecast years.
With the rising cases of egg allergies, there is a significant increase in the production of egg allergy medication. The improvements in egg allergy treatment and diagnosis have created a conducive environment for the egg allergy market growth. Several treatments and diagnosis methods after technological advancements include blood tests, skin prick tests, food challenge, and many more. Besides all these procedures, oral immunotherapy is also a stream of treating egg allergies which enhances the skin allergy test market size.
The egg allergy in adults varies differently and can show a reaction in the form of hives or rashes or extremely severe anaphylaxis. The continuous growth of skin allergy patients is accountable for the increasing demand for egg allergy medication and egg allergy treatment like epinephrine auto-injectors and others. These developments in treatment and diagnosis are surging the growth of the egg allergy market.
The report describes the insights of the egg allergy market and the factors influencing it. It covers the impact of COVID19 on the egg allergy market size and reflects the market dynamics that show the opportunities and challenges of market growth. A brief description is provided for the market segmentation and the egg allergy industry study on different regions that can drive the market growth in the forecast period.
The coronavirus pandemic outbreak has severely affected the economic growth rate globally. Industrial sectors, as well as working sectors, were shut down due to the lockdown restrictions. The world suffered in the field of both health as well as economy. The manufacturing units of pharmaceuticals remained closed and created big disruptions in the supply chain of the egg allergy market.
During the lockdown, the demand for eggs comparatively decreased, and the number of cases of egg allergies significantly reduced. The production of egg allergy medication slowed down, which constrain the skin allergy market size. As the egg allergy industry is solely dependent on the number of egg allergy cases, the market growth was hampered. However, the advent of new developments in egg allergy treatment and diagnosis resulted in maintaining a steady growth of the market and will contribute to growing allergy skin test market share in the upcoming years.
The egg allergy market size is evolving at a faster pace, and in the upcoming times, it will grow immensely. The number of cases of egg allergies is increasing day by day, both in adults as well as infants. Most number of cases over the years has happened to children more than egg allergy in adults. Symptoms of egg allergy in children outgrow way before it results in egg allergy symptoms in adults. The food allergy prevalence has increased to a greater extent which acts as a driving force for the growth of the global egg allergy market. Several technological advancements in egg allergy medication and treatment resulted in propelling the egg allergy market size.
The technological advancements in egg allergy treatment and diagnosis methods include skin prick test, food challenge, blood test, oral immunotherapy, and many more. These advanced methods of treatment increase the skin allergy test market size and help to propagate the growth of the egg allergy market to the optimum level in the forecast period.
The egg allergy market is increasing to greater heights in a short time span, and the market will continue to grow in the future due to an extreme increase in egg allergy cases. The skin allergy test market size is rising exponentially with the advanced technological methods of diagnosis and treatment. These advancements are not just limited to egg allergy treatment but also include advancements in the identification process and screening. Various food scanners, apps, portable devices, and wearable are helpful in determining different food ingredients related to egg allergy. These devices are major opportunities for increasing the egg allergy industry size in the upcoming years.
The global egg allergy market is definitely growing at a faster rate, but the market growth can be hindered due to a lack of awareness among patients. The developing countries tend to avoid allergies, and the reason behind it lacks awareness. Many patients overlook the allergies and do not take any egg allergy treatment on time. The egg allergy cases in these countries are comparatively low, and the poor healthcare sector is also responsible for the same. Another prime restraint for the egg allergy industry is the hefty cost involved in the diagnosis and treatment process. Many tests are also not covered by any insurance policies. Such constraints restrict the growth of the egg allergy market size.
The egg allergy market is immensely dependent on the number of cases of egg allergy patients. Many patients overlook and avoid egg allergy medication in time which leads to declining market growth. Various tests like radioallergosorbent test (RAST) and enzyme-linked immunosorbent assay (ELISA or EIA) has their own limitations, which sometimes show false results and diagnosis failure due to cross-contamination. These testing procedures also require proficient egg allergy industry therapeutics who can handle the tests properly, which hinders the market growth of the egg allergy market size.
Value Chain Analysis
The revenue of the egg allergy industry is continuously escalating over the years and will continue to grow in the forecast years. Various egg research and consultancy sectors are focusing on the prevention and cure of the disease. The continuous effort for producing better egg allergy medication has resulted in the increasing the market value of the egg allergy market. The expansion of skin allergy test market size will reach greater levels in the upcoming years.
The egg allergy market is fragmented on the basis of age group, treatment and diagnosis, end-user, and region. The egg allergy industry size segmentation on the basis of age group includes children and adults. The egg allergy symptoms in adults are very less compared to children, so the children have the largest share in the egg allergy industry. The treatment segment consists of sub-segments that include egg allergy medication and oral immunotherapy process, whereas the diagnosis segment consists of tests like blood tests, skin tests, and others.
Egg allergy market segmentation on the basis of end-user comprises hospitals and clinics, egg research and consultancy, and diagnostics centers. The market segmentation on the basis of the region involves various geographies like North America, Europe, South America, Asia Pacific, Middle East, and Africa.
The egg allergy market is studied in different geographies such as North America, Europe, South America, Asia Pacific, Middle East, and Africa. The Americas hold the largest allergy skin test market share and are projected to dominate during the forecast period. The government initiatives and support, as well as the majority of companies engaging in the production of products treating egg allergy, will act as a market booster for the Americas.
The European region is expected to acquire the second-largest share in the forecast years due to increasing awareness and safety concerns for children. The Asia Pacific is the rapidly evolving market with the highest rates of implementation of new technologies, which will fuel the market growth in the next many years.
Competitive Landscape of the market
The major players of the egg allergy market are:
|Market Size||2016.43 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Age Group, Diagnosis & Treatment, End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Genentech Inc. (the US), Sanofi SA (France), ImmuneTech (US), Quest Diagnostics (US), HYCOR Biomedical (US), Alletess Medical Laboratory (US), Kaleo Inc. (the US), Imutest Ltd (UK), Creative Diagnostics (US), Impax Laboratories (US), Mylan NV (US)|
|Key Market Opportunities||Advancements in the identification process and screening|
|Key Market Drivers||
Egg allergy market projected to grow at approximately 6.90% CAGR during the assessment period (2022-2030).
The valuation of the global egg allergy market is estimated to increase to USD 2016.43 Million by the end of 2030.
Increasing prevalence, improved allergy diagnosis, and rising healthcare expenses are major tailwinds pushing the growth of the global egg allergy market.
North America holds the largest share in the global egg allergy market, followed by Europe and the Asia Pacific, respectively.
Genetech, Inc. (US), Mylan N.V. (US), Sanofi (France), Alletess Medical Laboratory (US), Creative Diagnostics (US), HYCOR Biomedical (US), Impax Laboratories, Inc. (US), Kaleo, Inc. (US), Kaleo, Inc. (US), Impax Laboratories (US), Quest Diagnostics (US), ImmuneTech (US), and Imutest Ltd. (UK), are some of the top players operating in the global egg allergy market.