House dust mite allergy is a common form of respiratory allergy affecting millions worldwide. House dust mites thrive in warm, humid indoor environments and their microscopic fecal pellets and shed skin can cause allergic reactions in sensitized individuals. Symptoms typically include sneezing, runny nose, nasal congestion, itchy throat and eyes.
House Dust Mite Allergy treatment aims to control allergic inflammation and symptoms through pharmaceutical medications like antihistamines and corticosteroids as well as environmental measures.
The house dust mite allergy market is estimated to be valued at USD 2.6 Bn in 2024 and is expected to reach USD 5.3 Bn by 2031, growing at a compound annual growth rate (CAGR) of 13.6% from 2024 to 2031.
Key players operating in the house dust mite allergy market are Allergopharma, ALK-Abello, Stallergenes Greer, HAL Allergy Group, etc.
Key Takeaways
Key players - Allergopharma and ALK-Abello collectively hold over 25% of the global market share owing to their diverse product portfolios including subcutaneous and sublingual immunotherapy options.
Key opportunities - Increasing accessibility of affordable generic antihistamines and corticosteroids in developing regions provides growth opportunities for OTC allergy drug makers.
Global expansion - Major players are strategically expanding in Asia Pacific and Latin America through licensing agreements to capitalize on rising airborne allergy incidences in these emerging markets.
Market drivers
The growing global prevalence of asthma and respiratory allergies due to environmental pollution and changing climate has significantly contributed to the rising incidence of house dust mite allergy globally. As per recent studies, house dust mite allergy now affects over 20% of the worldwide population, thereby augmenting the demand for effective treatment options across regions.
PEST Analysis
Political: Government regulations regarding cleanliness standards for homes and workplaces. Regulations on chemicals used for controlling dust mites.
Economic: Spending power of consumers. Prices of dust mite allergy treatments and control products. National and international economic conditions affecting household spending.
Social: Rising awareness about health issues caused by dust mites. Changing lifestyle trends requiring indoor cleanliness. Aging population vulnerable to allergies.
Technological: Advances in diagnostic tests for dust mite allergies. New formulations and delivery mechanisms for dust mite treatments. Innovation in home cleaning appliances and air purifiers.
Geographical Regions of Concentration
The market is highly concentrated in developed regions with moderate to high hygiene standards such as North America, Western Europe and Japan. Higher consumer awareness and spending power and stringent regulatory standards for indoor air quality in these regions contribute to their large share in the global market.
Fastest Growing Regional Market
The Asia Pacific region is expected to witness the fastest growth during the forecast period. Factors such as rising income levels, increasing health consciousness, expansion of medical infrastructure and hot & humid climate favourable to dust mite growth are driving the market in developing countries such as India and China. Furthermore, large patient population and higher number ofpeople affected by allergies and asthma present substantial opportunities for market players in Asia Pacific.
Author Bio:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)