Philippines Allergy Therapeutics Market Analysis

Philippines Allergy Therapeutics Market Executive Summary

Philippines Allergy Therapeutics Market was valued at $51 Mn in 2022 and is estimated to reach $87 Mn in 2030, exhibiting a CAGR of 6.9% during the forecast period.

Allergies are immune responses that are periodically triggered by environmental chemicals known as allergens. Dust mites, pollen, mildew, and specific foods like milk, eggs, soy, and almonds are examples of common allergies. Allergy reactions can manifest in a variety of ways, ranging from mild symptoms like runny nose and itchy eyes to more serious ones like anaphylaxis, which can cause unconsciousness and breathing problems. A few potential treatment options include immunotherapy, avoiding allergens, and prescription medications such as antihistamines and nasal corticosteroids.

In the Philippines, allergic rhino conjunctivitis and allergic rhinitis together impact about 20% and 14% of the population, respectively. Allergies, however, may be more common than these estimates, up to 20% in some areas or among particular demographic groups. Due to the country's varied vegetation and extended pollination seasons, pollen allergies are very common. Over 60% of Filipinos have positive skin prick tests for different pollen allergens. a 7% or so prevalence in preschoolers. Moreover, eczema and other skin allergies are prevalent in the Philippines, affecting between 8% and 13% of children. A major allergy risk is highlighted by the fact that up to 10% of people may be sensitive to bee stings. Increased levels of indoor allergen exposure are caused by a number of variables, including urbanization and changing lifestyles, which can influence allergy prevalence. These factors can lead to altered immunological responses and an increase in allergy rates. A higher prevalence of allergic rhinitis is seen among Filipinos of Malay culture, suggesting that genetic and ethnic factors also play a part.

Enhancing accessibility for the local people in the Philippines is being facilitated by the increasing focus of local companies like Unilab and Generika on producing generic versions of commonly used allergy drugs. This change in strategy intends to address the affordability of healthcare and increase the accessibility of necessary allergy treatments for a wider range of people. These companies contribute significantly to public health initiatives that guarantee a more inclusive and economical approach to allergy management in the Philippines, in addition to promoting competition in the pharmaceutical market by providing generic substitutes for well-known allergy medications.

Market Dynamics

Market Growth Drivers

Urbanization and changing lifestyles: Urbanization and changes in lifestyle, which include more exposure to indoor allergens such as dust mites and outdoor pollution, are major factors influencing the trend for an increased need for allergen treatment drugs.

Prevalence of Allergies: More than 20% of Filipinos experience allergic rhinitis, and food allergies are becoming more common, especially in young children, creating a need for effective allergy therapy drugs. Urbanization, changes in lifestyle, and environmental factors may all contribute to an increase in the prevalence of allergies.

Increased Awareness and Diagnosis: More access to healthcare, public health campaigns, and educational programs result in earlier and more accurate allergy diagnoses, which encourage people to seek treatment.

Market Restraints

Awareness and Education: Many people are unaware of the different types of allergies, the treatments available for them, and the long-term benefits of managing chronic allergies. This may lead to inadequate diagnosis, inadequate therapy, and reliance on unproductive over-the-counter medications. This can prevent the market from growing.

High Cost of Treatment: The cost of allergy treatment can be highly expensive for some people, particularly when it comes to AIT methods like immunotherapy injections and SLIT tablets. The exorbitant cost of allergy drugs could hinder their widespread use and accessibility, hence restricting their market penetration.

Treatment Compliance and Adherence: For allergy treatments to be effective, especially immunotherapy therapies, patients must be consistently dedicated to long-term regimens. Challenges such as high costs, intricacy, or unfavourable results leading to inadequate patient adherence have the potential to diminish treatment efficacy and impede market expansion.

Notable Recent Updates

• August 2020, an arrangement between Nestle and Aimmune Therapeutics, Inc. allowed Nestle Health Science to purchase Aimmune. For children ages 4 to 17, Palforzia by Aimmune is the first and only FDA-approved medication that can help lessen the frequency and severity of peanut allergic reactions, including anaphylaxis. Children with food allergies now have more options thanks to this acquisition, which broadens Nestle Health Science's portfolio in the area of food allergies.

Healthcare Policies and Regulatory Landscape

The principal regulatory body that guarantees the efficacy, safety, and quality of pharmaceutical products including allergy treatments is the Food and Drug Administration (FDA). The Department of Health (DOH) works closely with the FDA to develop and carry out healthcare policies that direct the administration of healthcare as a whole. Under the FDA, the Bureau of Food and Drugs (BFAD) is responsible for overseeing drug-related regulations and making sure that set requirements are met. Furthermore, the national health insurance program is managed by the Philippine Health Insurance Corporation (PhilHealth), which has an effect on coverage and reimbursement policies for medications used to treat allergies.

Competitive Landscape

Key Players

• GlaxoSmithKline
• Novartis
• AstraZeneca
• Merck & Co.
• Sanofi
• Unilab
• Generika Drug Corporation
• Delmar Pharmaceuticals
• Pfizer
• Johnson & Johnson