$7 Bn House Dust Mite Allergy Global Market Opportunities and Strategies to 2033 - Innovative AI-Powered Allergy Testing Revolutionizes Market Dynamics

Global House Dust Mite Allergy Market

Dublin, June 26, 2024 (GLOBE NEWSWIRE) -- The "House Dust Mite Allergy Global Market Opportunities and Strategies to 2033" report has been added to ResearchAndMarkets.com's offering.

The global house dust mite allergy market reached a value of nearly $1.9 billion in 2023, having grown at a compound annual growth rate (CAGR) of 8.96% since 2018. The market is expected to grow from $1.9 billion in 2023 to $3.6 billion in 2028 at a rate of 13.70%. The market is then expected to grow at a CAGR of 14.08% from 2028 and reach $7 billion in 2033.

Growth in the historic period resulted from rising air pollution levels, growing demand for prescription-based drugs, rising asthma prevalence. Factors that negatively affected growth in the historic period were side effects of house dust mite allergy drugs and discontinuation of drug trials. Going forward, increasing investments in research and development, rising healthcare expenditures, increasing prevalence of allergic diseases will drive the market growth. Factor that could hinder the growth of the house dust mite allergy market in the future include increase in hygiene practices and high treatment costs.

Market-trend-based strategies for the house dust mite allergy market include developing advanced allergen products, such as house dust mite allergen extract tablets, to enhance treatment options for individuals with this allergic condition, developing advanced solutions, such as biobased technology, to enhance the effectiveness of allergy management, focusing on developing cost-effective nasal sprays to advance the management of allergic conditions, receiving regulatory approvals for new immunotherapy tablets that provide effective and convenient treatment options for individuals, focusing on launching over-the-counter (OTC) eye drops to alleviate or prevent the symptoms of allergies, developing advanced solutions, such as Al-powered allergy testing, to gain a competitive edge.

The global house dust mite allergy market is concentrated, with a few large players operating in the market. The top ten competitors in the market made up to 43.1% of the total market in 2022. The market concentrated can be attributed to the presence of large players in different geographies. Sanofi SA was the largest competitor with a 8.2% share of the market, followed by Teva Pharmaceutical Industries LTd with 7.2%, Bayer AG with 6.5%, Johnson and Johnson with 6.4%, Merck & Co. Inc. with 6.3%, GlaxoSmithKline Plc with 4.5%, Shionogi & Co. Ltd with 1.5%, Catalent Inc. with 1.2%, Merz Pharma GmbH & Co KGaA with 0.8% and Torii Pharmaceutical Co.,Ltd with 0.4%.

Player-adopted strategies in the house dust mite allergy market include focuses on enhancing its operational capabilities through new drug developments and approvals, focus on expanding its business through strategic partnerships.

The house dust mite allergy market is segmented by product type into tablets and nasal drops. The tablets market was the largest segment of the house dust mite allergy market segmented by product type, accounting for 82.6% or $1.6 billion of the total in 2023. Going forward, the nasal drops segment is expected to be the fastest growing segment in the house dust mite allergy market segmented by product type, at a CAGR of 15.27% during 2023-2028.

The house dust mite allergy market is segmented by treatment type into medication, nasal irrigation and other types. The medication market was the largest segment of the house dust mite allergy market segmented by treatment type, accounting for 74.3% or $1.4 billion of the total in 2023. Going forward, the nasal irrigation segment is expected to be the fastest growing segment in the house dust mite allergy market segmented by treatment type, at a CAGR of 15.82% during 2023-2028.

The house dust mite allergy market is segmented by end users into pharmacists, homecare, clinics and other end users. The homecare market was the largest segment of the house dust mite allergy market segmented by end users, accounting for 63.6% or $1.2 billion of the total in 2023. Going forward, the homecare segment is expected to be the fastest growing segment in the house dust mite allergy market segmented by end users, at a CAGR of 14.41% during 2023-2028.

The house dust mite allergy market is segmented by diagnosis into skin prick test (SPT), specific immunoglobulin E (IgE) blood test and other diagnostic. The skin prick test (SPT) market was the largest segment of the house dust mite allergy market segmented by diagnosis, accounting for 59.1% or $799.02 million of the total in 2023. Going forward, the specific immunoglobulin E (IgE) Blood Test segment is expected to be the fastest growing segment in the house dust mite allergy market segmented by diagnosis, at a CAGR of 14.63% during 2023-2028.

North America was the largest region in the house dust mite allergy market, accounting for 37% or $702.8 million of the total in 2023. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the house dust mite allergy market will be Asia Pacific and South America where growth will be at CAGRs of 16% and 15.5% respectively. These will be followed by Eastern Europe and Middle East where the markets are expected to grow at CAGRs of 14.1% and 12.8% respectively.

To take advantage of the opportunities, the analyst recommends the house dust mite allergy companies to focus on developing advanced allergen products, focus on developing bio-based solutions, focus on developing cost-effective nasal sprays, focus on developing immunotherapy tablets, focus on OTC (over-the-counter) eye drops for allergy relief, focus on AI-powered allergy testing solutions, focus on nasal drops segment, focus on nasal irrigation segment, focus on specific immunoglobulin e (IGE) blood test segment, expand in emerging markets, continue to focus on developed markets, focus on diversifying distribution channels, provide competitively priced offerings, continue to use B2B promotions, focus on digital marketing, collaborate with healthcare professionals and focus on homecare segment growth.

• The top opportunities in the house dust mite allergy market segmented by product type will arise in the tablets segment, which will gain $1.4 billion of global annual sales by 2028.

• The top opportunities in the house dust mite allergy market segmented by treatment type will arise in the medication segment, which will gain $1.3 billion of global annual sales by 2028.

• The top opportunities in the house dust mite allergy market segmented by diagnosis will arise in the skin prick test (SPT) segment, which will gain $988.2 million of global annual sales by 2028.

• The top opportunities in the house dust mite allergy market segmented by end users will arise in the homecare segment, which will gain $242.5 million of global annual sales by 2028. The house dust mite allergy market size will gain the most in the USA at $504.5 million.

Key Attributes:

Major Market Trends

• Increased Focus on Novel Drug Development for House Dust Mite Allergies

• Innovative Biobased Solutions for Eco-Friendly House Dust Mite Allergy Management

• Development of Cost-Effective Nasal Sprays for House Dust Mite Allergy Symptoms

• Regulatory Approvals for Advanced Immunotherapy Tablets

• Launch of Over-The-Counter (OTC) Eye Drops for Quick Relief from Allergies

• Innovative AI-Powered Allergy Testing Revolutionizes Market Dynamics

A selection of companies mentioned in this report includes, but is not limited to:

• Sanofi SA

• Teva Pharmaceutical Industries Ltd

• Bayer AG

• Johnson and Johnson

• Merck & Co. Inc.

• GlaxoSmithKline Plc

• Shionogi & Co. Ltd

• Catalent Inc.

• Merz Pharma GmbH & Co KGaA

• Torii Pharmaceutical Co.,Ltd

• Trio Lifescience Private Limited

• Zhejiang I-biological Technology Co. Ltd.

• ALK-Abello AS

• Citeq Biologics

• Johnson Group

• Xinhualian Company

• Worg Pharmaceuticals

• T-Balance Therapeutics

• Allergy Therapeutics PLC

• Stallergenes Greer International AG

• Ergomed PLC

• DMS Group

• HAL Allergy Group

• Anergis Sa

• Thermo Fisher Scientific

• NPO Microgen

• ALK romania

• ALK Canada

• Merck Canada

• Johnson & Johnson

• Clinuvel Pharmaceuticals Limited

• Pfizer

• Incyte Corporation

• Hikma Pharmaceuticals PLC (Egypt)

• Dawa Limited (Kenya)

• Adcock Ingram Holdings Limited (South Africa)

• Aspen Pharmacare Holdings Limited (South Africa)

For more information about this report visit https://www.researchandmarkets.com/r/1v5cy2

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• Global House Dust Mite Allergy Market

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