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Egg allergy Market Growth Opportunity by Rising Application Scope Hikes the Healthcare Revenues in Forthcoming Years

Egg allergy Market Overview:

As per the analysis of market Research Future (MRFR), the global egg allergy market has been advancing at a steady pace and is expected to capture a CAGR of 7.10% over the forecast period of 2018-2023. The global egg allergy market is expected to catapult to USD 2304.3 Mn by the end of 2023 from USD 1526.8 Mn in 2017.

Egg allergy is caused by a protein in eggs which triggers an abnormal reaction to the immune system such as rash, vomiting, eczema, stomach pain, wheezing, runny nose, nausea, and in rare cases, anaphylaxis. Egg allergy is very common in children and tends to outgrow with age, even though in some cases, egg allergy may persist for a lifetime. Recent studies indicate that egg allergy has become more persistent than previously believed.  According to the report published by, McGill University in2016, egg allergy is common in infants and young children and affects 1 to 2% of the preschool children. Such a rise in incidences of egg allergies increase the demand for diagnostic tests and medications and spur the growth of the global egg allergy market.

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Egg allergy diagnosis procedures have shown noteworthy developments such as skin test and blood tests which have become easy and time-saving. For instance, in August 2018, Creative Diagnostics has developed a set of humanized monoclonal antibodies (IgM, IgG or IgA) that can be used as calibrators, positive, negative, or quality controls in assay development and manufacturing of diagnostic kits. Conversely, the growth of the global egg allergy market might be hampered by a lack of awareness regarding egg allergy. In developing countries, people are negligent towards egg allergies and tend to avoid treatment and diagnosis for the same which limits the market growth in such regions. Also, poor healthcare infrastructure and inaccessibility restrain market growth. Also, allergy detection tests such as blood tests and skin tests are expensive, and a small error in the procedure can cause huge loss.

Skin tests cost around USD 60 to 300 while blood tests can go up to USD 200 to 1000 which cannot be afforded by everyone. Furthermore, allergy tests are not generally covered under health insurance policies. Thus, unfavorable reimbursement policies and high costs associated with allergy diagnostic tests constrain the growth of the market to a large extent. Technological advancements in screening procedures provide favorable backgrounds for the growth of the market while technical difficulties associated with them are likely to pose a challenge for the market growth.

Segmentation:

The Global Egg Allergy Market has been segmented based on age group, diagnosis & treatment, and end user.

By age group, the Global Egg Allergy Market has been segmented into children (0-18 years and adults (18+ years).

By diagnosis & treatment, the global egg allergy market has been segmented into diagnosis and treatment. The diagnosis segment has been further segmented into skin test, blood test, food challenge, and others.  The treatment segment has been further segmented into medication and oral immunotherapy. The medication sub-segment has been further segmented into antihistamine, epinephrine, and others.

By end user, the Global Egg Allergy Market has been segmented into hospitals & clinics, diagnostic centers, research institutes, and others.

Regional Analysis:

Regionally, the Global Egg Allergy Market is spanned across the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa. The Global Egg Allergy Market is dominated by the Americas which has been further segmented into North America and South America. North America accounts for the maximum share of the North America market. Government support in the form of favorable legislation, coupled with the concentration of prominent market players in the region aid the growth of the market. Europe is the second largest market for egg allergy. Increasing prevalence of egg allergy in the region is a prime factor in boosting the market growth in Europe. The European Academy of Allergy and Clinical Immunology (EAACI) estimates that the number of people suffering from food allergy has increased to 17 Million in the last ten years which generates considerable demand for diagnosis and treatment. Besides, rigorous R&D efforts and high expenditure on healthcare could drive the market in Europe.

APAC is poised to emerge as the fastest growing market for egg allergy at a CAGR of 8.71% over the forecast period. Growing innovation in the field of allergen-free food products, growing awareness, and faster adoption of new technologies spur the market in APAC. The MEA market is anticipated to register a CAGR of 5.70% over the forecast period due to limited access to healthcare in the developing countries. However, the Middle East market is likely to showcase moderate growth on account of improving healthcare infrastructure.

Competitive Landscape:

Mylan N.V. (US), Genetech, Inc. (US), Sanofi (France), Creative Diagnostics (US), Alletess Medical Laboratory (US), HYCOR Biomedical (US), Kaleo, Inc. (US), Impax Laboratories, Inc (US), Kaleo, Inc. (US), Quest Diagnostics (US), Impax Laboratories (US), Imutest Ltd. (UK), and ImmuneTech (US) are the key players in the global egg allergy market.

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The report also appraises the supervisory scenarios which affect various decisions in the market. With all the data congregated and scrutinized using SWOT analysis, there is a vibrant picture of the competitive scenario of the Global Keratoacanthoma Market Size. Openings for the future market growth were uncovered and preoccupied competitive threats also textured.

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