Peanut Allergy Vaccine Market Analysis
Peanut Allergy Vaccine Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026
Allergies are medical conditions caused primarily by hypersensitivity of the immune system to some external stimulus. Allergy may cause anaphylaxis—a medical condition that can cause irritation of the skin, swelling of throat, shortness of breath, and in some cases, death. Allergies are caused by various allergens such as pollen grains, or certain foods such as peanuts. Vaccination is the process of administering antigenic material or a vaccine to stimulate one’s immune system to build up an adaptive immunity to pathogens.
Food allergy is one of the major forms of allergies. Food allergies can be caused by cow’s milk, eggs, shellfish, and many other foods, including peanuts. However, peanut allergy is very prevalent in the present scenario, especially in children. Therefore, peanut allergy vaccine market is likely to gain significant traction in the near future. Peanut allergy vaccine is administered to patients who are detected with a probability of developing peanut allergy, so as to prevent occurrences of allergy attacks such as anaphylaxis in the future. According to a report published by National Centre for Biotechnology Information, allergy to peanuts as well as tree nuts (TNs) is the principal reason for fatal allergic reactions in the U.S., and the occurrences appear to be rising. In this 11 year follow up research, over 1% (around 3 million) people reported peanut or tree nut allergies and the condition has been on the rise, mainly amongst children. According to a report by Food Allergy Research and Education (FARE), peanuts caused the most number of allergies in the U.S., among all food allergens. Hence, peanut allergy vaccine market has a major potential for growth in this region during the forecast period (2018–2026).
Peanut Allergy Vaccine Market Taxonomy
On the basis of end user, the global peanut allergy vaccines market is classified into:
Government initiative towards creating awareness and regulatory approvals for peanut allergy vaccine is necessary for the growth of the market. Some of the other treatment methods for peanut allergy are oral immunotherapy and epinephrine treatment. However, neither of these treatments has gained significant momentum in the peanut allergy treatment market.
Peanut Allergy Vaccine Market Outlook – Increasing prevalence of peanut allergy and lack of proper treatment
Globally, incidence of peanut allergy is increasing supported by rising birth rate. The risk of peanut allergy is more prevalent in countries such as the U.K., Australia, and the U.S. According to American Academy of Allergy Asthma & Immunology, 30.4% of the children with food allergies suffered from multiple allergy attacks. Peanut allergy is such an epidemic condition in the U.S. that the federal Food Allergen Labeling and Consumer Protection Act (FALCPA) mandated that all packaged food sold in the U.S. that include peanuts as an ingredient have to prominently display the word 'Peanut' on the label. The only solution to peanut allergy is restraining a patient from having peanuts/peanuts containing products. Nevertheless, peanut vaccine is capable of curing the ailment from a very young age, without any restriction on food. Therefore, the future of the peanut allergy vaccine market is very promising. According to a research published by Asia Pacific Association of Allergy, Asthma and Clinical Immunology, the prevalence of food allergy (or peanut allergy) in Asia is low as compared to the West. Abundant use of peanuts in local cuisines in Asia Pacific is a major factor attributed to low incidence of peanut allergy in the region. As can be inferred from the report, the peanut allergy vaccine market is expected to grow at a considerable rate in the western part of the globe as compared to the eastern part.
Companies operating in the market in the current scenario are focusing on obtaining approval for their products from the respective regulatory bodies. The major companies operating in the market are Allergy Therapeutics, Zicam, Aravax, Immunomic Therapeutic, Inc., Astellas, and Aimmune.