Global Latex Allergy Market - 2022-2029

Global Latex Allergy Market - 2022-2029

Market Overview

The global latex allergy market size was valued US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX % during the forecast period (2022-2029).

An allergic reaction to proteins in natural rubber latex, a product made from rubber tree secretions, is known as a latex allergy. Minor skin irritation to life-threatening shock is all possible symptoms. Antihistamines can aid with minor allergic reactions. Severe reactions may necessitate immediate medical attention.

Market Dynamics

Advancement in the diagnosis of Latex Allergy is expected to drive market growth.

Serological assays, which include IgE testing and ImmunoCAP measurements, have been established to diagnose IgE-mediated latex allergy. IgE directed against crude natural allergen extract is used to calculate traditional latex-specific IgE. ImmunoCAP can identify Hev B allergens in recombinant form (Thermo Fisher Scientific, Uppsala, Sweden). Sensitization to specific components (e.g., Hev b 1, Hev b 5, Hev b 6.01, and Hev b 6.02) is associated with severe clinical manifestations and is expressed as real latex allergy, whereas sensitization to other components (e.g., Hev b 8) is often asymptomatic. Moreover, the present result indicates that the sublingual immunotherapy (SLIT) for natural rubber latex (NRL) is the only etiological strategy for resolving NRLA in at-risk patients who cannot avoid this allergen.

Furthermore, latex SLIT has low adverse responses, excellent patient compliance, and a high success rate. Almost all patients can use latex gloves, have medical examinations or surgery, and stay in latex-containing settings after immunotherapy. Thus, from the above statements, the market is expected to drive market growth.

Restraint:

The rising cost of the treatment and cases of allergies from latex are some of the factors the market is expected to hamper in the forecast period.

COVID-19 Impact Analysis

The COVID-19 pandemic has moderately impacted healthcare systems and the market. Individuals who became sensitive to latex developed symptoms such as contact dermatitis, runny noses, itchy and watery eyes, asthma, and anaphylaxis in severe cases. Many people in the healthcare industry are harmed. The COVID-19 pandemic impacted the availability of personal protective equipment (PPE), including N95 masks, eyewear and gloves. This need for PPE has the potential to create problems for those people who are allergic to latex. It is also a risk for others who could develop a latex allergy from the repetitive use of latex gloves.

Moreover, the pandemic interrupts the supply chain and process. Many companies will vary to other geographic regions to ensure that products remain available and protect their supply chain. Thus, from the above statements, the market got affected, and it is expected to gain traction quickly with the resumption of the economic activities.

Segment Analysis

Skin Test segment is expected to hold the largest market share in latex allergy market

The skin test segment is expected to dominate in 2021. The segment growth is beneficial because a skin test helps determine if the patient's skin responds to latex. The doctor will inject a small amount of latex beneath the skin's surface on the patient's forearm or back with a tiny needle. The patient gets a raised lump if he is allergic to latex. Moreover, it may develop raised welts called wheals (they look like hives). The skin irritation and wheals show that the immune system is reacting. It usually takes about 15 to 30 minutes for a reaction to occur. Therefore, it has increased the demand for the test. Thus, the market segment is expected to hold the largest market share in the forecast period from the above statements.

Geographical Analysis

North America region holds the largest market share in the global latex allergy market

In 2021, North America accounted for the highest revenue share. The increasing prevalence of asthma, increasing demand for latex disposables, rise in the research and development for the treatment of latex allergies, and advancement in diagnostics are some of the factors the market is expected to boost in the forecast period. For instance, Hives, itching, and a stuffy or runny nose are common latex allergy symptoms. Wheezing, chest tightness and trouble breathing are all asthma symptoms. After being exposed to latex-containing items, symptoms appear within minutes. It is estimated that approximately 25 million people in the U.S. have asthma. It equals about 1 in 13 people, and about 20 million U.S. adults age 18 and older have asthma. It is a leading chronic disease in children. Currently, there are about 5.1 million children under the age of 18 with asthma.

Moreover, in 2019, Vermont reported the highest asthma lifetime prevalence among adults in the United States at 17.6 percent. In addition, according to American health department officials, due to the COVID-19 epidemic, the current demand for medical gloves is anticipated to be over 8.7 billion per month or 104 billion per year. Therefore, it has increased the demand for the treatment. Thus, the North American region is expected to hold the largest market share in the forecast period from the above statements.

Competitive Landscape

Major key players in the latex allergy market are Johnson & Johnson Consumer Inc., Hikma Pharmaceuticals USA Inc., Bayer, Organon Global Inc., Pfizer Inc., Par Pharmaceutical, Viatris Inc., Taro Pharmaceutical Industries Ltd.

Johnson & Johnson Consumer Inc.:

Overview:

Johnson & Johnson is an American multinational corporation. The company is into medical devices, pharmaceuticals, and consumer packaged goods. Johnson & Johnson brands include more household names of medications and first aid supplies. Its well-known consumer products are the Band-Aid Brand line of bandages, Tylenol medications, Johnsons Baby products, Neutrogena skin and beauty products, Clean & Clear facial wash, and Acuvue contact lenses. Johnson & Johnson's pharmaceutical arm is Janssen Pharmaceutical.

­Product Portfolio:

Benadryl (diphenhydramine): It is the over-the-counter antihistamine used to treat mild symptoms of latex allergy.

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Visualize the composition of the latex allergy market segmentation by type, diagnosis type, exposure type, treatment type, end user, distribution channel, and region highlighting the key commercial assets and players.

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