Spain Allergy Therapeutics Market Analysis

Spain Allergy Therapeutics Market Executive Summary

Spain Allergy Therapeutics Market was valued at $448 Mn in 2022 and is estimated to reach $682 Mn in 2030, exhibiting a CAGR of 5.4% during the forecast period.

Allergens are substances in the environment that can occasionally cause an immune response. Common allergens include dust mites, pollen, mold, and certain foods, including milk, eggs, soy, and almonds. Allergy reactions can manifest in a variety of ways, ranging from mild symptoms like a runny nose and itchy eyes to more serious ones like anaphylaxis, which can cause unconsciousness and breathing difficulties. Among the potential treatment options are immunotherapy, the avoidance of allergens, and prescription medications such as nasal corticosteroids and antihistamines.

Children in Spain have a high frequency of respiratory and allergy disorders, 5.7% of children under 14 suffer from asthma, and 11.4% have allergies, especially allergic rhinitis. Health-related quality of life in children, especially those with lower percentiles, is noticeably affected, 32.3% of such cases are due to asthma and 27.7% to allergies. 44% of limitations in routine activities are related to asthma, whereas 47.9% are related to allergies. Specialist consultations due to allergies account for 36.8% of hospital admissions, with asthma accounting for 62.3% of cases. For Spanish children aged 7 to 10, the frequency of food allergies ranges from 0.5% to 1.8%. In Mediterranean locations like Spain, pollen allergies affect about 26% of children; temperature, humidity, and pollution all play a role in how common they are. Regional differences are noteworthy, with the prevalence of asthma in children under 6 years old varying from 1.4% in Melilla and Ceuta to 8.8% in the Basque Country.

The biotech company ALBA Therapeutics, situated in Barcelona, was able to raise $24 Mn in October 2023 to fund the development of its innovative oral immunotherapy (OIT) treatment for peanut allergies. At the core of their endeavours is the lead candidate, AMT-001, which seeks to provide a convenient and perhaps curative alternative to established peanut allergy management modalities such as sublingual immunotherapy (SLIT) and allergen avoidance. AMT-001's Phase IIa clinical trials are expected to begin in mid-2024 thanks to the considerable financing injection, which will mark a significant advancement in the treatment of allergies and address a pressing medical need.

Market Dynamics

Market Growth Drivers

Prevalence of Allergies: In Spain, allergies affect a large percentage of the adult population as well as 11.4% of children under the age of 14. The market for allergy treatment medications is driven by this broad need for treatments.

Changing Lifestyle and Environmental Factors: In Spain, pollen allergies are becoming more common due to urbanization, pollution, and shifting climatic patterns. Furthermore, alterations in lifestyle, such as residing indoors more often and having pets, may worsen pre-existing allergies, hence augmenting the market need.

Rising Awareness and Diagnosis: An increasing number of cases are being diagnosed as a result of growing awareness of allergies and improvements in diagnostic tools. People are more inclined to seek out pharmacological and medical interventions for their allergy problems as awareness increases.

Market Restraints

High Cost of Treatment: Many of the most effective allergy treatments available today, such biologics and sublingual immunotherapy, are unaffordable for a sizable section of the population due to their high cost. This cost barrier may prevent patients from receiving the best care possible by limiting the market's acceptance of these medications.

Cultural and Behavioural Factors: Some communities preference for conventional drugs or home remedies over modern therapies may hinder market penetration. Reduced community awareness may make it more difficult to recognize and understand allergy symptoms, delaying diagnosis and treatment. Notwithstanding these limitations, there is increased interest in the use of non-pharmaceutical techniques, such as air filters, to reduce allergens and/or eliminate allergy symptoms.

Treatment Compliance and Adherence: The efficacy of allergy medications, particularly immunotherapy therapies, depends on patients' continuous adherence to extended treatment plans. Obstacles like exorbitant expenses, complexity, or unsatisfactory outcomes resulting in insufficient patient compliance may reduce the effectiveness of treatment and hinder market growth.

Healthcare Policies and Regulatory Landscape

The national regulatory body in Spain is the Spanish Agency of Medicines and Medical Devices (Agencia Española de Medicamentos y Productos Sanitarios - AEMPS), which reviews and approves marketing authorizations to guarantee the efficacy, safety, and quality of medicines, including allergy therapies. AEMPS tracks medication safety over the course of its lifespan in collaboration with the Ministry of Health, which develops national healthcare policies. The General Council of Official Colleges of Pharmacists collaborates to assure correct dispensing and distribution, while the Spanish Network of Health Technology Assessment Agencies examines the effectiveness and cost-effectiveness of healthcare treatments. The National Commission for Markets and Competitiveness regulates the pharmaceutical industry's fair practices, which may have an impact on market competitiveness and medicine prices. Within the larger regulatory framework, the National Health System is essential in creating regulations concerning the availability and payment of medications used to treat allergies.

Competitive Landscape

Key Players

• Novartis
• GlaxoSmithKline (GSK)
• Sanofi
• Roche
• Merck & Co.
• Johnson & Johnson
• AstraZeneca
• Bayer
• Boehringer Ingelheim
• Allergan.