Global Ragweed Pollen Allergy Treatment Market to be valued at US$ 1,147.3 Million by 2027, Says Coherent Market Insights (CMI)

SEATTLE–(BUSINESS WIRE)–#RagweedPollenAllergyTreatment–According to Coherent Market Insights, the global ragweed pollen allergy treatment market 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).

Key Trends and Analysis:

The global ragweed pollen allergy treatment market is expected to witness significant growth owing to research & development activities and drug approvals by regulatory authority. For instance, in February 2017, Sanofi’s Xyzal Allergy 24HR received the FDA approval for over-the-counter use to relieve year-round and seasonal allergy such as the ragweed pollen allergy. Xyzal is an oral antihistamine, with an active ingredient of levocetirizine dihydrochloride, which relieves sneezing, runny nose, itching of the throat or nose, and itchy watery eyes.

In November 2018, Stallergenes Greer announced that they have obtained FDA approval for Oralair, which is a sublingual immunotherapy tablet for the pollen allergy treatment. Orlair is used to treat patients in the age group of 5 to 9 with grass pollen-induced allergic rhinitis. The immunotherapy tablet is the only tablet that contains grass pollens from five of the most common grasses in the U.S. and got FDA approval in 2014 for patients aged 10 to 65.

Key players in the ragweed pollen allergy treatment market are focused on strategic license agreements and joint ventures to maintain a competitive edge in the market. For instance, in May 2015, Austria-based biotech companies VTU Technology and Biomay entered a strategic collaborative licensing agreement to produce recombinant allergens. These companies are developing allergens from ragweed pollen as a recombinant product.

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Key Market Takeaways:

The global ragweed pollen allergy treatment market is expected to exhibit a CAGR of 4.6% during the forecast period (2020-2027) owing to the rising focus of key industry players on developing novel ragweed pollen allergy treatments. Moreover, Ragweed pollen allergy is a seasonal event and its symptoms are observed when the season changes, therefore, changes in environmental conditions are expected to favor growth of this market.

North America is expected to be the most lucrative region in the global ragweed pollen allergy treatment market owing to approvals of novel medication for pollen allergy treatment. For instance, in April 2014, the U.S. FDA approved the novel ragweed allergy pill, Ragwitek, for treatment of ragweed pollen allergy.

Competitive Landscape:

Key players operating in the global ragweed pollen allergy treatment market are Astellas Pharma Inc., ALK-Abello A/S, Biomay AG, ASIT Biotech SA, Anergis SA., 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.

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Market Segmentation:

• Global Ragweed Pollen Allergy Treatment Market, By Drug Class:
  • Antihistamines
  • Decongestants
  • Nasal Corticosteroids
  • Others
• Global Ragweed Pollen Allergy Treatment Market, By Distribution Channel:
  • Hospital Pharmacy
  • Retail Pharmacy
  • Online Channel
• Global Ragweed Pollen Allergy Treatment Market, By Region:
  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • Italy
    • Spain
    • France
    • Russia
    • Rest of Europe
  • Asia Pacific
    • Australia
    • India
    • China
    • Japan
    • ASEAN
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Middle East
    • GCC
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • Central Africa
    • North Africa

Related Market Intelligence Report:

Allergic Asthma Therapeutics Market, by Drug Type (Corticosteroids, Bronchodilators, Leukotriene modifiers, Immunotherapy, Biologics, and Others), by Route of Administration (Oral, Inhaled, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Size, Share, Outlook, and Opportunity Analysis, 2020 – 2027

Read more: https://www.coherentmarketinsights.com/market-insight/allergic-asthma-therapeutics-market-4019

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