Canada Allergy Therapeutics Market Analysis

Canada Allergy Therapeutics Market Executive Summary

Canada Allergy Therapeutics Market was valued at $1856 Mn in 2022 and is estimated to reach $3049 Mn in 2030, exhibiting a CAGR of 6.4% during the forecast period.

Allergies are immune system sensitivities that arise from the body's reaction to environmental chemicals known as allergens, which are generally harmless to humans. In addition to food allergies like milk, eggs, soy, and almonds, these allergens can also be aeroallergens like dust mites, pollen, and mold. A runny nose and itchy eyes are examples of moderate allergy symptoms. Severe and potentially fatal allergy symptoms include anaphylaxis, which can result in unconsciousness and difficulty breathing. Immunotherapy, avoiding allergens, and prescription drugs, including nasal corticosteroids and antihistamines, are some of the treatments for allergies.

Food allergies are a major health concern in Canada, where 7% of people had food allergies, compared to 3-4% for adults and 5-6% for young children in westernized nations who have a physician's diagnosis. In Canada, 7–10% of children and 3–4% of adults suffer from allergies. The most common allergens are peanuts, tree nuts, milk, eggs, shellfish, soy, wheat, and sesame. Along with contact dermatitis, hives, and medication allergies, eczema is the most common skin allergy, affecting 10-15% of children and 3-5% of adults. Notable respiratory allergies include seasonal allergies to mold and pollen, which affect 15-20% of Canadians, asthma, which affects 8% of the population; and allergic rhinitis, or hay fever. Latex allergies are increasing, particularly among healthcare workers, and insect sting allergies, though less common, can be severe.

Sanofi, a renowned pharmaceutical giant, is actively working to advance allergy medicines, especially for children and adolescents with peanut allergies. To assess the safety and effectiveness of dupilumab, also known as Dupixent, Sanofi is presently carrying out a Phase 3 clinical investigation. The primary objective of this experiment is to evaluate dupilumab's potential as a peanut allergy therapy for the targeted age group.

Market Dynamics

Market Growth Drivers

Growing Prevalence of Allergies: The demand for allergy treatments has surged due to the rising number of patients suffering from a variety of allergies, including rhinitis, asthma, skin allergies, and allergies of the eyes. Pharmaceutical firms that specialize in allergy treatments are expecting an increase in demand for their goods and services as the number of people with allergies rises, which will propel the market's expansion.

Technological and Therapeutic Advancements: The creation of cutting-edge treatments such as monoclonal antibodies like dupilumab, sublingual immunotherapy (SLIT), and allergen-specific immunotherapy (AIT) offers more individualized and efficient treatment choices, attracting patients and growing the market.

Government Support and Initiatives: Supportive conditions for market expansion are produced by government by funding for allergy research and public health initiatives like the CIHR-Allergy Canada Research Network that target allergy prevention and management.

Market Restraints

High Cost of Treatment: A substantial percentage of the population cannot afford many of the modern and successful allergy medicines, such as biologics and sublingual immunotherapy, due to their high cost. This can restrict market penetration and patient access to optimal treatment.

Lack of Awareness and Access to Specialty Care: Failures in diagnosis and access to suitable medicines can result from a lack of knowledge about allergy treatment options and the significance of consulting specialists. This is especially important in remote locations where access to specialized medical treatment is limited.

Safety Concerns and Side Effects: Despite their effectiveness, some of the most recent allergy treatments have possible side effects or safety issues that could discourage patients or healthcare professionals from using them. Expanding the market requires addressing these issues through research and teaching.

Notable Recent Updates

• March 2022, The US FDA gave Perrigo Company plc final approval to sell Nasonex 24HR Allergy (mometasone furoate monohydrate 50 mcg) over-the-counter.
• August 2022, the only approved fixed-dose combination medication for seasonal allergic rhinitis was introduced to the US market by Glenmark Pharmaceuticals' arm.

Healthcare Policies and Regulatory Landscape

The national regulatory body in charge of ensuring the efficacy, safety, and calibre of pharmaceuticals and other health products in Canada is Health Canada.Prior to being marketed and sold in Canada, new medications must be reviewed and approved by Health Canada. This also applies to allergy therapy medications, which, in order to guarantee their efficacy and safety, go through a stringent review process.

The Pharmaceutical Drugs Directorate (formerly the Therapeutic Products Directorate) is the division of Health Canada that is especially in charge of drug regulation. The PDD reviews drug applications to evaluate their quality, safety, and efficacy, including allergy therapeutic medication submissions.

Competitive Landscape

Key Players

• Sanofi
• Novartis
• GlaxoSmithKline (GSK)
• AstraZeneca
• Merck & Co.
• Johnson & Johnson
• Roche
• Teva Pharmaceutical Industries
• ALK-Abelló
• Stallergenes Greer.