Dublin, June 26, 2024 — The “House Dust Mite Allergy Global Market Opportunities and Strategies to 2033″ report has been added to ResearchAndMarkets.com’s offerings.
The global house dust mite allergy market, valued at nearly $1.9 billion in 2023, has seen significant growth, with a compound annual growth rate (CAGR) of 8.96% since 2018. This market is projected to expand further, reaching $3.6 billion by 2028 at a CAGR of 13.70%, and is expected to grow at a CAGR of 14.08% from 2028 to reach $7 billion by 2033.
Market Dynamics:
Historic Growth Drivers: Rising air pollution, increased demand for prescription drugs, and growing asthma prevalence.
Challenges: Side effects of allergy medications and discontinuation of drug trials.
Future Growth Drivers: Increased R&D investments, rising healthcare expenditures, and growing prevalence of allergic diseases.
Potential Hindrances: Enhanced hygiene practices and high treatment costs.
Market Strategies: Key strategies include developing advanced allergen products such as allergen extract tablets, biobased technology solutions, cost-effective nasal sprays, and regulatory-approved immunotherapy tablets. The focus is also on OTC eye drops and AI-powered allergy testing.
Market Concentration: The market is concentrated, with the top ten players accounting for 43.1% of the market in 2022. Major players include:
- Sanofi SA (8.2%)
- Teva Pharmaceutical Industries Ltd (7.2%)
- Bayer AG (6.5%)
- Johnson and Johnson (6.4%)
- Merck & Co. Inc. (6.3%)
- GlaxoSmithKline Plc (4.5%)
- Shionogi & Co. Ltd (1.5%)
- Catalent Inc. (1.2%)
- Merz Pharma GmbH & Co KGaA (0.8%)
- Torii Pharmaceutical Co., Ltd (0.4%)
Market Segmentation
By Product Type: Tablets dominate the market with 82.6% ($1.6 billion) in 2023, followed by the rapidly growing nasal drops segment (CAGR of 15.27% from 2023 to 2028).
By Treatment Type: Medication leads with 74.3% ($1.4 billion) in 2023. Nasal irrigation is the fastest-growing segment (CAGR of 15.82% from 2023 to 2028).
By End Users: Homecare is the largest segment with 63.6% ($1.2 billion) in 2023, also being the fastest-growing (CAGR of 14.41% from 2023 to 2028).
By Diagnosis: Skin prick tests (SPT) hold 59.1% ($799.02 million) in 2023, while the specific immunoglobulin E (IgE) blood test segment grows fastest (CAGR of 14.63% from 2023 to 2028).
Regional Insights
North America leads with 37% ($702.8 million) in 2023.
Asia Pacific and South America are the fastest-growing regions, with CAGRs of 16% and 15.5% respectively.
Eastern Europe and the Middle East also show significant growth prospects.
Opportunities and Recommendations
Companies should focus on developing advanced allergen products, bio-based solutions, cost-effective nasal sprays, and AI-powered testing. Expanding into emerging markets and maintaining a strong presence in developed markets will be crucial. Digital marketing and collaborations with healthcare professionals can enhance market reach and influence.
Key Market Trends
Novel drug development for house dust mite allergies.
Eco-friendly, biobased allergy management solutions.
Cost-effective nasal sprays.
Advanced immunotherapy tablets.
OTC eye drops for allergy relief.
AI-powered allergy testing transforming market dynamics.
Leading Companies
The report covers major players like Sanofi SA, Teva Pharmaceutical Industries Ltd, Bayer AG, and Johnson and Johnson, among others. It emphasizes strategic initiatives like drug developments, approvals, and business expansions through partnerships.
Report Details
- Pages: 278
- Forecast Period: 2023-2033
- Estimated Market Value (2023): $1.9 Billion
- Forecasted Market Value (2033): $7 Billion
- CAGR: 13.9%
- Regions Covered: Global
For more information about this report, visit ResearchAndMarkets.com.
