Cat Allergy in Humans Market Indicating 6.3% CAGR from 2021 to 2031: As per TMR Study
Increasing innovation in medicines is expected to boost demand for cat allergy in human treatment. The incidence of cat allergy in humans is expected to rise as technology advances and research and development continue.
Wilmington, Delaware, United States, July 05, 2023 (GLOBE NEWSWIRE) — The worldwide market value of cat allergy in humans reached US$ 4.2 billion in 2021. Forecasts indicate that the market will grow by 6.3% by 2031, reaching US$ 7.8 billion.
The increasing prevalence of allergic rhinitis and increased government-funded health programs educating people about cat litter allergy are expected to drive growth in cat allergy in human treatment market. Global pollution levels and genetic changes are prompting the cat allergy in humans treatment landscape to expand. The adoption of immunotherapy to treat pet allergy disorders is also expected to power the market in the next few years.
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Among the world’s populations, cat allergies affect a large and growing proportion, and are among the top three causes of respiratory allergies. The World Health Organization and the International Union of Immunological Societies recognize eight cat allergens. With cat ownership on the rise, and people now spending more than 90% of their time inside, it is likely that atopy-susceptible individuals are being exposed to more cat allergens, and developing cat allergies as a consequence.
Cat allergies are common among humans, particularly those with asthma or other allergies. Approximately three out of ten Americans with allergies are allergic to cats and dogs, according to the Asthma and Allergy Foundation of America. Humans are affected by about 10% of cat allergies, twice as many as dog allergies.
Key Findings of Market Report
- A 50% share of the antihistamine segment is expected by 2031, making it the leading segment on the market.
- As treatment options for cat allergy in humans become available, allergy treatment demand is expected to increase.
- Medications for cat allergies in humans are likely to be in high demand at hospital pharmacies.
- Medication markets are likely to expand with growing investments in research and development.
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Global Cat Allergy in Humans Market: Growth Drivers
- Since cat adoption has surged as a pet, the incidence of allergic reactions among pet owners has increased. Cat allergy in humans market sales are growing due to a greater understanding of pet allergies. A growing number of people suffering from cat allergies have increased awareness about treating and preventing these allergies, and technological advancements have contributed to the growth of the allergy treatment market.
- Many products aimed at alleviating symptoms have been developed and introduced into the cat allergy market, including antihistamines, nasal sprays, and allergy shots. People with allergies can benefit from these treatments by managing their symptoms and reducing their reactions to cat allergens.
- Factors that can influence the market include medical research advancements, new treatment options, and changes in consumer preferences. Aside from these factors, there are also economic factors that contribute to the growth of the healthcare market as a whole.
- An international research group is developing a vaccine against Fel d 1, the offending protein. Additionally, a Virginia-based team is exploring the possibility of knocking out the gene for Fel d1 using CRISPR gene editing. There is still a long way to go on those two projects.
Global Cat Allergy in Humans Market: Regional Landscape
- Cat allergies affect approximately 8% of the European Union population and 17% of the United States population, respectively, based on skin prick tests.
- A surge in pet cat ownership and a rise in cat allergy cases in North America are expected to drive Cat allergy in humans market.
- Forecasts indicate that it will continue to dominate the region and grow at a CAGR of 6.1% during the forecast period.
- Cat allergy is expected to increase significantly in the coming years due to robust healthcare infrastructure and an improved understanding of progressive immunotherapy, including allergen immunotherapy in the Asia Pacific region.
- As fostering and adoption systems for cats increase in Europe, allergy vaccine demand is expected to grow.
Global Cat Allergy in Humans Market: Key Players
A company profiles section concludes the global cat allergy in human market report. A list of key players is provided in this section. The cat allergy in humans market report profiles each of these players based on company overviews, financial overviews, strategies, applications, and segments.
- In March 2022, the FDA approved an over-the-counter medicine by Perrigo Company plc (betametarafen 1mg): Nasonex® 24 HR Pet Allergy Relief (mometasone furoate monohydrate 50mcg). As a result of this approval, Nasonex will be able to enter the OTC market with its first branded Rx-to-OTC switch. Several months from now, Nasonex 24HR Allergy will become available, according to Perrigo.
- In March 2023, Modulis for Cats was approved by the FDA, the first orally available generic version of cyclosporine for cats. This condition causes cats to be itchy due to an allergic reaction induced by the immunosuppressant drug.
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Global Cat Allergy in Humans Market: Segmentation
- Corticosteroid Nasal Sprays
- Leukotriene Inhibitors
- Allergy Treatment
- Allergy Prevention
- Hospital Pharmacies
- Retail pharmacies
- Online Pharmacies
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
About Transparency Market Research
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