According to the American College of Allergy, Asthma, and Immunology, 2020, there are about 17 species of ragweed in the U.S. The weeds grow in most of the regions in the U.S., usually blooming and producing fine-powder pollen from August to November. The allergies associated with ragweed are treated with antihistamines and other allergy-related medications.
The rising demand for novel therapies for treating ragweed pollen allergy is expected to drive the growth of the global ragweed pollen allergy treatment market during the forecast period. Moreover, the changes in environmental conditions and increasing pollution are driving the global ragweed pollen allergy treatment market growth. For instance, according to the Asthma and Allergy Foundation of America (AAFA), around 23 million people in the U.S. have symptoms from ragweed pollen allergy in the late summers. These symptoms can make life depressed for those with allergies, which can also cause asthma symptoms for allergic asthma people.
Global Ragweed Pollen Allergy Treatment Market - Impact Analysis of COVID-19
The global ragweed pollen allergy treatment market growth is affected to some extent by the outbreak of COVID-19 as it is difficult to conduct clinical trials during the pandemic. However, the overall market is witnessing an optimistic growth because of the similarity of symptoms of COVID-19 and ragweed pollen allergy.
The all-inclusive version of the report will include the impact of COVID-19 and the probable changes in the future outlook of the industry, by taking into the account the technological, social, political, and economical parameters.
The global ragweed allergy treatment market is estimated to be valued at US$ 836.9 million in 2020 and is expected to register a CAGR of 4.61% during the forecast period (2020-2027).
Figure 1. Global Ragweed Pollen Allergy Treatment Market Share (%) Analysis, By Distribution Channel, 2020
An increase in number of clinical trials of therapies for treating ragweed pollen allergy and strategic collaborations are expected to propel the market growth during the forecast period
Key players in the ragweed pollen allergy treatment market are involved in research & development of advanced drugs and novel therapies. The drug approvals and strategic collaborative researches are estimated to significantly drive the market growth and create lucrative growth opportunities during the forecast perio d.
For instance, in May 2015, two Austria-based biotech companies, Biomay and VTU Technology, entered a collaborative licensing agreement to produce recombinant allergens. Biomay had formerly managed to produce and deliver a major allergen from ragweed pollen as a recombinant product. Under the agreement terms, VTU Technology will be given royalties on the basis of worldwide sale of recombinant allergens produced by Biomay.
For instance, in September 2018, Genentech’s Xolair received U.S. FDA approval for the treatment of allergies. Xolair is the only biologic approved product for allergic asthma as well as chronic idiopathic urticarial. The product is already approved to treat patients 12 years and older with allergic asthma. According to Genentech, this approval will help in addressing unmet needs of patients and caregivers or parents.
Global Ragweed Pollen Allergy Treatment Market - Restraints
The lack of awareness among patients about allergy immunotherapy is expected to restrain growth of the global ragweed pollen allergy treatment market. Additionally, side effects associated with allergic immunotherapy is another factor that is predicted to restrict the market growth.
Moreover, the high costs associated with treatment of ragweed pollen allergy are expected to hinder the market growth during the forecast period.
Ragweed Pollen Allergy Treatment Market Report Coverage
||Market Size in 2019:
||US$ 836.9 Mn
|Historical Data for:
||2016 to 2019
||2020 to 2027
|Forecast Period 2020 to 2027 CAGR:
||2027 Value Projection:
||US$ 1,147.3 Mn
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East: GCC, Israel, Rest of Middle East
- Africa: South Africa, North Africa, and Central Africa
- By Drug Class: Antihistamines, Decongestants, Nasal Corticosteroids, Others.
- By Distribution Channels: Hospital Pharmacy, Retail Pharmacy, Online Channel.
ALK-Abello A/S, ASIT Biotech SA, Anergis SA, Biomay AG, Astellas Pharma Inc., Thermo Fisher Scientific Inc, Siemens Healthcare Private Limited, Omega Diagnostics Group PLC, Stallergenes Greer, bioMerieux SA, Lincoln Diagnostics, Inc, HOB Biotech Group Corp Ltd, HYCOR Biomedical, Inc, Alcon, Hitachi Chemical Diagnostics, Inc, Quest Diagnostics Incorporated, Circassia, Immunomic Therapeutics, Inc, Novartis AG, Japan Tobacco Inc, GlaxoSmithKline plc, REGiMMUNE Co, Ltd, Sanofi, and Merck KGaA.
- The increasing environmental pollution and changing lifestyle
- The growing demand for advance therapy for treating ragweed pollen allergy
|Restraints & Challenges:
- High costs associated with ragweed pollen allergy
- Lack of awareness regarding allergy immunotherapy among patients
Global Ragweed Pollen Allergy Treatment Market – Regional Analysis
The market in North America accounted for the largest share in the global ragweed pollen allergy treatment in 2019 as it is one of the most common causes of allergies in the region. Moreover, key players are focused on obtaining product approvals and clinical trials of drugs for the treatment of ragweed pollen allergy which is expected to propel the market growth. For instance, the U.S. Food and Drug Administration (FDA) has recently approved two novel prescription medications, Ragwitek and Grastek, for the treatment of ragweed pollen and grass pollen allergy.
For instance, in April 2020, ALK, a Denmark-based research-driven pharmaceutical company announced the Health Canada approval of ITULATEK SLIT-tablets for the tree pollen allergy treatment. ITULATEKTM is available in Canada and is the fourth once-daily SLIT (Sublingual Allergy Immunotherapy) tablet from ALK. This tablet is indicated as allergy immunotherapy for moderate treatment of allergic rhinitis induced by pollen from alder, birch, or hazel in adults in the age group of 18 to 65 with a clinical history of allergic rhinitis.
Furthermore, the market in Europe is also expected to witness significant growth owing to initiatives taken by key players and for treatment of ragweed pollen allergy. For instance, in February 2017, ALK submitted a registration application for 'Ragweed SLIT-tablet’ in Europe. The tablet has been accepted for review via decentralized procedure by relevant health authorities with Germany being the Reference Member State. The company’s proposed indication is for treatment of patients in the age group of 18 to 65 with ragweed allergic conjunctivitis and/or rhinitis, despite the use of symptom-relieving medication.
Figure 2. Global Ragweed Pollen Allergy Treatment Market Value (US$ Mn) & Y-o-Y Growth (%), 2017-2027
Global Ragweed Pollen Allergy Treatment Market - Competitive Landscape
Key players operating in the global ragweed pollen allergy treatment market are ALK-Abello A/S, ASIT Biotech SA, Anergis SA, Biomay AG, and Astellas Pharma Inc., Thermo Fisher Scientific Inc, Siemens Healthcare Private Limited, Omega Diagnostics Group PLC, Stallergenes Greer, bioMerieux SA, Lincoln Diagnostics, Inc, HOB Biotech Group Corp Ltd, HYCOR Biomedical, Inc, Alcon, Hitachi Chemical Diagnostics, Inc, Quest Diagnostics Incorporated, Circassia, Immunomic Therapeutics, Inc, Novartis AG, Japan Tobacco Inc, GlaxoSmithKline plc, REGiMMUNE Co, Ltd, Sanofi, and Merck KGaA.