What is Peanut allergy?
Peanut allergy is one of the most common types of food allergy caused by a reaction of the immune system due to the consumption of peanuts. There are physical symptoms observed by this allergic reaction which include inflammation, eczema, sneezing, asthma attack, diarrhea, and anaphylaxis. It is caused due to the type 1 hypersensitivity reaction of the immune system and can be prevented partly through the early introduction of peanuts to the diet of pregnant women and children. Peanut allergies are very unknown in children of underdeveloped countries as they have been consuming peanuts and their products to relieve malnutrition. Treatment for this peanut allergy can be given by prescribing antihistamines and prednisone. Severe allergic reaction like anaphylaxis is treated by an epinephrine pen which is an auto injector used by non-healthcare professionals. Allergen immunotherapy(AIT) can be administered via sublingual, subcutaneous, epicutaneous, and oral routes which cause desensitization of food and helps in increasing the reaction threshold with regular exposure to the allergy. Diagnosis for this peanut allergy can be done by a blood test called Immunocap Radioallergosorbent (RAST). Palforzia was the first approved treatment for patients with peanut allergy. The widespread peanut allergy drives market growth in North America, Australia, and Europe in the treatment of allergies due to peanuts.
Given below are the factors driving the growth of the peanut allergy market:
Growing peanut allergy prevalence and rise in new treatments:
Increasing research activities and demand for drugs treating the complications associated with sneezing, inflammation, asthma attack, diarrhea, and anaphylaxis influence the market. The surge in enhanced healthcare expenditure and infrastructure positively affects the peanut allergy market. Rising research and development aiming at having specific allergen immunotherapy(AIT) which effectively helped food desensitization and minimal risks of allergic reactions.
Increasing awareness and educating the public about peanut allergy:
Anaphylaxis is a severe condition arising after a reaction to peanuts and is one of the fatal conditions. It is treated by an epinephrine pen which is an autoinjector used by non-healthcare professionals. There is a rise in therapy for peanut allergy and therefore, has a substantial impact on the growth of the peanut allergy market.
Restraining factors affecting the growth of the Peanut allergy market:
High cost of peanut allergy drug:
High prices of peanut allergy treatment constituting immunotherapies are unaffordable by patients and tend to hinder the growth of the market. Palforzia treatment for peanut allergy costs high prices depending on the dose and hence alternatives like the immunocap radioallergosorbent which require fewer doses of antigen offer a lot of potential growth to the peanut allergy market.
Recent developments:
On January 31, 2020, FDA approved the first drug treatment for peanut allergy in children. Peanut allergen powder (Palforzia) mitigated reactions and anaphylaxis due to allergy to peanuts. It indicated the management of signs and symptoms associated with the allergy to peanuts and asked the patients to avoid them in the diet with the usage of palforzia.
Conclusion:
The growing prevalence of peanut allergy and emerging new treatments with public awareness are expected to boost the peanut allergy market growth. However, therapies requiring lower costs and having fewer side effects also offer potential growth for the peanut allergy market.
Author's Detail:
Surabhi Bhaiyya /
LinkedIn
Senior Research Analyst at Cognitive Market Research
Surabhi Bhaiyya is an experienced market researcher focused on the Pharma & Healthcare industry. With over 7+ years of experience, She has worked with major pharmaceutical companies and healthcare providers, helping them to understand market trends, identify new business opportunities, and develop effective sales & marketing strategies. Her expertise lies in the ability to analyze complex data sets and deliver insights that drive business decisions. At Cognitive Market Research, she handles the market research related to Pharma and healthcare industry.
