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$ 954.5 Million in 2023 and is expected to exhibit a CAGR of 4.6% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The strategies by key market players like acquisitions is expected to drive the global ragweed pollen allergy treatment market growth over the forecast period. For instance, on January 17, 2022, Stallergenes Greer, a Switzerland-based global healthcare company specializing in the diagnosis and treatment of allergies through the allergy immunotherapy (AIT) products, announced that the company has entered into a research collaboration on the discovery of biomarkers of AIT efficacy with Imperial College London, a U.S.-based global university with a world-class reputation in science, engineering, business, and medicine. This long-term research collaboration, which combines the long-standing expertise of Stallergenes Greer in AIT with the prestigious research capabilities of Imperial College London, aims to push the boundaries of allergic patient care by identifying biomarkers of AIT efficacy and expanding the knowledge of the pathophysiology of allergic diseases and their treatment with AIT.
Global Ragweed Pollen Allergy Treatment Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China), in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spreads quickly, and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others faced problems regarding transportation of drugs from one place to another.
COVID-19 had positive impact on the global ragweed pollen allergy treatment market due to increasing need for allergy treatment. As allergic conditions were elevated during COVID 19 conditions. For instance, according to an article published by the Journal of Clinical Communications, on July 27, 2020, a study was conducted to check impact of COVID-19 on children with allergic asthma. A total of 212 children diagnosed with allergic asthma in our allergy unit were included. Cases were randomly selected from consecutive children with a scheduled medical appointment between April and May 2020. It was found that SARS-CoV-2 infection elicited asthma exacerbation.
Global Ragweed Pollen Allergy Treatment Market: Key Developments
Increasing launch of new range of products is expected to drive the market growth.
For instance, on February 15, 2022, Stallergenes Greer, a Switzerland-based global healthcare company specializing in the diagnosis and treatment of allergies through the allergy immunotherapy (AIT) products, announced that it has received approval in Australia for a new indication for ACTAIR, a 300 IR sublingual allergen immunotherapy (SLIT) tablet for the treatment of allergic rhinitis, for patients aged 5 years and over. Approval of ACTAIR for patients under the age of 12 was supported by data from a multi-centre, randomized, double-blind, placebo-controlled study, which evaluated the efficacy of ACTAIR at a daily maintenance dose of 300 IR administered for 12 months to children between 5 and 16 years old with allergic rhinitis. A total of 438 patients were randomized to receive 12 months of treatment with ACTAIR or placeboAn onset of action vs placebo was demonstrated as early as 2 months. Local adverse reactions were observed, with most of them mild in nature. The safety profile of ACTAIR in this paediatric population was consistent with that of adults, with no new safety concerns.
Browse 32 Market Data Tables and 27 Figures spread through 160 Pages and in-depth TOC on 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)
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