The spectrum of allergy related diseases has increased relatively, in turn this has led to development of the allergy care sector, among which latex allergy is a growing category. Market Research Future, a firm which specializes in market reports related to the healthcare sector among others, published in its recent report on Latex Allergy Market Research Report – Global Forecast to 2022 that the sector is developing at a gradual pace in terms of revenue generation and a complimenting high growth CAGR %.
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Latex allergy is strain of allergic reaction caused by exposure to latex products or food items. This form of allergy is less typical in the rate of occurrence as compared to other allergies like those from shellfish, nuts etc. which are more commonly found. Due to an increase in the use of latex, the incidence for latex allergies have risen thereby creating demand for the sector. Advancements in the field of medical diagnostics have enabled better treatment and medication options for this allergy type thereby expanding market size significantly. Availability of specialized products to treat this allergy have also promoted the growth of this segment. Manufacturers with a pre-existing portfolio of allergy medicines, are also undertaking R & D initiatives so as to expand and diversify into the latex allergy market.
Decreased levels of immunity in today’s day to day life has furthermore increased the probability of developing these types of allergy. Subsequently, since most of homecare and storage products may have traces of latex or may be made entirely out of it has increased the incidence of cases of latex allergy thereby growing the demand for the market. The market can be restricted by factors such as lack of awareness and limited product range.
Latest Industry Updates:
Nov 2017 kaléo, a privately-held pharmaceutical company, announced recently that the U.S. Food and Drug Administration has approved its supplemental New Drug Application (sNDA) for AUVI-Q(epinephrine injection, USP) 0.1 mg, the first and only epinephrine auto-injector (EAI) specifically designed for the treatment of life-threatening allergic reactions, including anaphylaxis induced by fish, shellfish, latex and medications etc in infants and small children weighing 16.5 to 33 pounds (7.5 to 15 kilograms) who are at risk for or have a history of serious allergic reactions.
Dec 2017 Xencor, Inc., a clinical-stage biopharmaceutical company developing engineered monoclonal antibodies for the treatment of autoimmune diseases, asthma and allergic diseases and cancer, announced that the Company has earned a $10 million milestone payment from Amgen. The payment is triggered by the submission of the Investigational New Drug (IND) Application for AMG 424, a novel humanized T cell–recruiting bispecific antibody targeting CD38 and CD3, which uses Xencor’s Bispecific XmAb Technology.
Nov 2017 Adamis Pharmaceuticals Corporation announced the submission of a prior approval supplement to the U.S. Food and Drug Administration (“FDA”) for a pediatric version (0.15mg) of Symjepi. Symjepi (epinephrine) Injection 0.3mg is an FDA-approved product, for the emergency treatment of allergic reactions (Type I) including anaphylaxis, designed for patients weighing 66 pounds or greater. The pediatric version (0.15mg) is intended to potentially treat patients weighing 33-65 pounds.
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Latex Allergy Market – Competitive Analysis
With the entry of new industry players in the global latex allergy segment, a trend of solid, volume-driven growth has been observed in the market with the addition of new and advanced products. Companies are aiming to capture & solidify their share of the market segment, by competing and experimenting with various advantage points. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies.
The key players in the latex allergy market are 3M, Alcon Inc., Allerayde UK Ltd, Allergy Hero, Array, BioPharma Inc, AstraZeneca, Aterica, Boehringer-Ingelheim. Some of the other key players are Dey Labs, GlaxoSmithKline, Johnson & Johnson, Merck, Nektar Therapeutics, Novartis AG, Rocky Mountain Diagnostics, and Sanofi.
Latex Allergy Market – Segments
The latex allergy market has been segmented on the basis of exposure type, diagnosis type, reaction type, treatment type and regions.
On The Basis Of Type Of Exposure: Latex Gloves, Food Containing Latex Substances.
On The Basis Of Diagnosis Type: Skin Test and Allergy Test.
On The Basis Of Reaction Type: Systemic Reaction, Allergic Contact Dermatitis, Irritant Contact Dermatitis, Asthma, Anaphylaxis, and Rhinitis.
On The Basis Of Type of Treatment: Epinephrine Injection, Allergy Medications: Inhaler/Albuterol, Antihistamine, Asthma Medication, Corticosteroids Etc.
On The Basis Of Region: North America, Europe, Asia Pacific and ROW.
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Latex Allergy Market – Regional Analysis
On regional basis, latex allergy market is segmented into North America, Europe, Asia-Pacific, and Middle East and Africa. North America is the largest market for latex allergy. The North American market for latex allergy is expected to grow at a progressive CAGR and is expected to touch US$ Million growth by the end of the forecasted period. Europe is the second-largest market for latex allergy which is expected to grow at a liberal CAGR. Asia pacific region is expected to be fastest growing region in latex allergy market.
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