Global Ragweed Pollen Allergy Treatment Market, by Drug Class (Antihistamines, Decongestants, Nasal Corticosteroids, and Others), by Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Channel), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 836.9 million in 2020 and is expected to exhibit a CAGR of 4.6% during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
Market players are focused on research & development, clinical trials, and product launches which is favoring the growth of the global ragweed pollen allergy treatment market. Moreover, manufacturers are focused on obtaining approvals and strategic licensing agreements of novel therapies.
For instance, in April 2014, the U.S. FDA approved Merck’s ‘Timothy Grass Pollen Allergen Extract’ sublingual tablet as immunotherapy for treatment of pollen-induced allergic rhinitis with or without conjunctivitis in children aged 5 years and older and adults up to 65 years of age. The tablet is a novel option for patients who are unable to take allergy shots.
For instance, in January 2018, a Viennese firm, Biomay AG entered a collaborative agreement with MedUni Vienna to move BM32 into phase III trials. The BM32 vaccine showed positive results in the clinical symptoms of seasonal ragweed/grass pollen allergy in the phase II trials. Although statistical significance was not reached regarding the primary endpoint, the treated-subjects of BM32 showed an improvement with regards to visual analog scale, symptom medication, asthma symptom scores, and in the Rhinoconjunctivitis Quality of Life Questionnaire. The vaccine is now scheduled for approval in 2021.
Global Ragweed Pollen Allergy Treatment Market - Impact Analysis of COVID-19
The COVID-19 outbreak has adversely affected the ragweed pollen allergy treatment market. It has become difficult for the researchers to conduct researches during this COVID-19 pandemic. People with ragweed pollen allergy are getting confused with the COVID-19 symptoms as the symptoms associated with both conditions are similar. Thus, the overall market is estimated to observe an optimistic growth during the COVID-19 pandemic.
Browse 23 Market Data Tables and 26 Figures spread through 150 Pages and in-depth TOC on Ragweed Pollen Allergy Treatment Market, By Drug Class (Antihistamines, Decongestants, Nasal Corticosteroids, and Others), by Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Channel), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)- Forecast to 2027"
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The increasing funding for research & development of novel treatment is propelling the growth of the global ragweed pollen allergy treatment market. Additionally, approvals of allergy drugs by various regulatory authorities and market consolidation is also boosting the market growth. For instance, in October 2017, Stallergenes Greer was acquired by Medic Savoure Ltd. to strengthen its global presence in the pollen allergy industry in Canada.
Key Takeaways of the Global Ragweed Pollen Allergy Treatment Market: