Singapore House Dust Mite Allergy Treatment Market Size, Revenue Growth Trends, Company Strategy Analysis, 2031

 

Singapore house dust mite allergy treatment market size was valued at $1.5 billion in 2021, and is estimated to reach $5.2 billion by 2031, growing at a CAGR of 13.4% from 2022 to 2031. House dust mite allergy is an allergic reaction caused by dust mites, which are present in the house environment. House dust mites can survive in any climatic condition due to their adaptive nature. People who are suffering from asthma and rhinitis may face worsened symptoms on exposure to dust mites. House dust mite allergy can be identified by doctors after physical examination. The skin and blood test named as skin prick test and specific IgE blood test are diagnosis tests for house dust mite allergy.

 

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Factors that drive growth of the Singapore house dust mite allergy treatment market share include rise in prevalence of house dust allergy, advancements in R&D activities in the pharmaceutical industry, and surge in demand for antihistamine drug. In addition, rise in prevalence of respiratory diseases such as asthma and allergic rhinitis contributes toward the house dust mite allergy treatment market growth. Allergic disease is ranked as the sixth most common cause of chronic illness in the U.S., which is likely to increase the demand for house dust mite allergy products, thus driving the house dust mite allergy treatment market trends.

 

Furthermore, Singapore market players are focused on manufacturing of different house dust mite allergy products. For instance, in May 2021, Glenmark, a pharmaceutical company, announced the launch of Ryaltris AZ, which is a nasal spray used to relieve symptoms of allergic rhinitis. The allergic rhinitis is caused due exposure to allergen such as house dust mite. Moreover, increase in teenage and younger population who are more prone to house dust mite allergy and surge in need for various antihistamine drugs escalate the market growth.

 

According to the Journal of Current Allergy and Asthma Reports, in 2020, it was observed that adults and children are more susceptible to house dust mite allergy.

 

Moreover, rise in disposable income and development of the pharmaceutical sector for manufacturing of anti-allergic drugs are anticipated to drive growth of the house dust mite allergy market. In addition, increase in clinical studies on various types of products to evaluate their safety and efficacy propels the growth of the market.

 

Furthermore, rise in air pollution increases the sensitivity to respond for allergic reactions, which fuels the growth of the house dust mite allergy treatment market. Increase in number of approval of novel therapies and surge in adoption of immunotherapies for treatment of house dust mite allergic reactions notably contribute toward the market growth. This encourages many key players to enter emerging markets, thus offering them remunerative growth opportunities. The global house dust mite allergy treatment market is segmented into treatment, type, route of administration, distribution channel, and region.

 

On the basis of treatment, the market is classified into antihistamine, immunotherapy, and other segment. The others segment dominated the market in 2021, and is expected to continue during the forecast period, owing to advancements in R&D activities in the pharmaceutical sector and increase in number of key manufacturers.

 

Depending on type, the market is classified into prescription-based drugs and over-the-counter drugs. The prescription-based drugs segment was the major contributor in 2021, and is expected to maintain its lead during the forecast period, owing to increase in prevalence of house dust mite allergic diseases and initiatives taken by government and private organization to spread awareness about allergic disease.

 

By route of administration, the market is bifurcated into oral and nasal segment. The oral administration segment dominated the market in 2021, and is expected to continue during the forecast period, owing to increase in demand for oral route of administration, rise in number of U.S. FDA approvals for drugs, and advancements in R&D activities in the pharmaceutical sector.

 

As per distribution channel, the Singapore market is fragmented into hospital pharmacy, online pharmacy, retail pharmacy, and others segment. The hospital pharmacies segment was the major contributor in 2021, and is expected to maintain its lead during the forecast period, owing to rise in prevalence of allergic diseases, surge in demand for monoclonal antibodies, and initiatives taken by government for advancement of hospital pharmacy.

 

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