The egg allergy market is emerging rapidly in the global economy and will further rise to extreme heights in the near future. The egg allergy market size is estimated to reach around USD 2304.3 million by 2023, with a predicted CAGR or compound annual growth rate of 7.10 percent in the forecast period from 2018 to 2023.
The global egg allergy market is rising at a faster rate due to the surge of egg allergy incidence taking place in recent times. According to the British Society for Allergy & Clinical Immunology data, the ubiquity of food allergies has grown, and 6 to 8 percent of children getting affected by the same. These allergies affect both infants as well as adults and can happen in few minutes or take few hours. Egg allergy symptoms in adults can happen due to egg overreaction by the body's immune system. The body's immune system identifies egg protein as hazardous and triggers an allergic reaction. The extreme ubiquity of egg allergies will expand the egg allergy market size in the forecast years.
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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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