USD 1721.62 million
Latex Allergy Market Size, Share, Growth Analysis, By Diagnosis Type(Allergy Test and Skin Test), By Application(Allergic Contact Dermatitis, Systemic Reaction and Others), By Treatment(Allergy Medication and Epinephrine Injection), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35I2328 |
Region:
Global |
Published Date: April, 2024
Pages:
220
|Tables:
85
|Figures:
71
Latex Allergy Market Insights
Global Latex Allergy Market size was valued at USD 1721.62 million in 2022, USD 1849.02 million in 2023 and is projected to grow USD 3047.69 million by 2031, growing at a CAGR of 7.4% in the forecast period (2024-2031).
Over the projected period, the latex allergy market is expected to experience significant expansion. The latex allergy market is growing due to a steady increase in latex disposables usage. As a component of the worldwide market, latex allergy is brought on by exposure to materials composed of natural rubber latex. The prolonged exposure to the product causes an immunological response in the form of a harmless protein, giving rise to the impression that the proteins are either disease-causing agents or antigens. The body releases antibodies and antihistamines in response to harmless proteins that are found naturally. In addition to other disorders including skin rash, hives, and eczema, which is marked by skin cracking, this process can cause symptoms like itchy hands.
The body reacts to naturally occurring innocuous proteins by releasing antibodies and antihistamines. This process can result in symptoms like itching hands as well as other conditions like skin rash, hives, and eczema, which is characterized by cracking of the skin. It frequently occurs in populations where latex-based products are used. Due to an increase in the prevalence of these allergies, which can lead to additional conditions like asthma, rhinitis, and anaphylaxis, among others, the latex allergy market is expanding internationally. The latex allergy market is growing globally because of an increase in the prevalence of these allergies, which can result in various illnesses including asthma, rhinitis, and anaphylaxis, among others.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Allergy Test
Fastest Growth
Skin test
Growth Rate
7.4% CAGR
Global Latex Allergy Market ($ Bn)
Country Share for North America (%)
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Latex Allergy Market Segmental Analysis
The global latex allergy market is segmented based on treatment, application, diagnosis type and regional type. In terms of treatment, the market is bifurcated into allergy medication and epinephrine injection. Based on application, the market is trifurcated into allergic contact dermatitis, systemic reaction and others. In terms of diagnosis type, the market is divided into allergy test and skin test. Based on region, the market is segmented into North America, Europe, Asia Pacific, Central & South America and Middle East & Africa. The diagnosis type is predicted to increase at the quickest rate and to command the largest share of the market.
Analysis by Diagnosis Type
As per categorization by diagnosis type, the market is classified into allergy test and skin test. Among these, allergy tests earned the largest share and continue to dominate the market. Early in 2024, this market saw a substantial breakthrough in allergy testing techniques, utilizing state-of-the-art tools such as molecular diagnostics and nanoallergen chips to improve sensitivity and specificity. The frequency of severe allergic responses has decreased due to these advances' increased early detection rates. Moreover, customized patient management plans and optimized treatment approaches are the result of the integration of AI and machine learning algorithms for data analysis. The market has grown significantly due to growing knowledge of and use of these innovative diagnostic technologies, which have opened new directions for allergy research and management.
Due to its affordability, high sensitivity, and quick findings, the skin test sector of the global latex allergy market is anticipated to develop at the quickest rate. By directly evaluating the skin's response to latex proteins, this technique improves patient throughput by providing healthcare professionals with a useful diagnostic tool. Furthermore, improvements in less invasive methods have improved patient comfort and raised acceptance of skin tests. The increasing prevalence of latex allergies globally, in conjunction with the requirement for a prompt and precise diagnosis, is propelling the adoption of skin testing and supporting its swift market expansion.
Analysis by Treatment
Targeted immunotherapy and new antihistamines are the main advances in allergy medications being introduced in the global latex allergy market, with the goal of increasing efficacy and minimizing side effects. Specifically created to prevent important immune responses linked to latex allergy, biologics mark a revolutionary advance in personalized treatment. Furthermore, the accuracy and efficacy of therapies have increased with the use of cutting-edge drug delivery technologies like nanoparticle carriers. These developments are essential for better symptom management and enhanced quality of life for those with latex allergy.
The global latex allergy market is expected to develop at the fastest rate in the Epinephrine Injection segment, mainly due to its vital function as a first-line treatment for severe allergic reactions (anaphylaxis) to latex. The demand for epinephrine auto-injectors is driven by the rising incidence of latex allergies, increased awareness and strict rules encouraging emergency preparedness in healthcare and public contexts. The category is expanding quickly due in part to advances in injector designs that make them more user-friendly and accessible, as well as efforts to enhance patient education regarding the management of anaphylaxis.
Global Latex Allergy Market By Diagnosis Type (%)
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Latex Allergy Market Regional Insights
North America is the largest market in the world according to the latex allergy market. By the end of the projected term in 2030, the latex allergy market in North America should have grown at a satisfying market rate and reached a significant market valuation. The second-largest market for latex allergy is in other well-known market regions, such as Europe. The current prediction period, which ends in 2030, calls for the European market to grow at an exceptional and elaborate rate. Additionally, additional well-known market regions are preparing for the industry's expansion throughout that time. Due to a rise in the use of latex disposables in its regional areas, such as China and India, the Asia-Pacific region is anticipated to become a key player in the market expansion.
Significant growth is occurring in Latin America and the Middle East and Africa, with Saudi Arabia and Brazil emerging as the fastest-growing nations in their respective regions. Infrastructure advancements in the healthcare industry, rising knowledge of latex allergies, and rising healthcare spending are all contributing factors to this growth. Saudi Arabia's significant spending in healthcare and research, as well as Brazil's preventive healthcare policies aimed at preventing allergies, are key factors in their respective leadership positions. Furthermore, the need for treatments and diagnostics is fueled by the growing incidence of latex allergies in these nations, which accelerates market expansion even more.
Global Latex Allergy Market By Geography
- Largest
- Fastest
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Latex Allergy Market Dynamics
Drivers
Increase Number of Latex Allergies
- One major factor driving the growth of the global latex allergy market is the increasing prevalence of latex allergies worldwide. increasing exposure to latex goods in healthcare settings, increasing individual awareness, and enhanced diagnostic capabilities are some of the factors contributing to the higher detection rates of latex allergy.
Technological Developments in Allergy Testing
- The global market for latex allergies is mostly driven by technological developments in allergy testing procedures. The precision, sensitivity, and speed of latex allergy diagnosis have increased thanks to advancements in skin testing methods, molecular diagnostics, and nanoallergen chips. Healthcare professionals can more accurately diagnose latex allergies thanks to these cutting-edge testing methods, which enables early intervention and improved allergic reaction treatment.
Restraints
High Cost of Allergy Diagnosis and Treatment
- The high expense of diagnosing and treating latex allergies is one of the major obstacles to the global market for latex allergies. More sophisticated diagnostic procedures, including targeted IgE testing and state-of-the-art skin prick tests, can be costly, which limits their availability to those in lower-income areas. These cost obstacles restrict market expansion by lowering the general accessibility of all-inclusive allergy management programmes.
Limited Awareness and Healthcare Infrastructure in Developing Regions
- The general public's and healthcare professionals' lack of knowledge regarding latex allergy limits the market in many developing nations. This ignorance may result in an incorrect or underdiagnosed condition, which would make management and therapy difficult. It is difficult to accurately diagnose and treat latex allergies in these areas due to the inadequate healthcare infrastructure and dearth of specialised allergy care services.
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Latex Allergy Market Competitive Landscape
Numerous multinational corporations that are integral to innovation and offer comprehensive solutions for latex allergy management define the competitive landscape of the global latex allergy market. Leading players with a broad selection of latex-free products and allergy diagnostics include 3M, Ansell Ltd., Top Glove Corporation Bhd, and Hartalega Holdings Berhad. These businesses make large investments in R&D to bring safer, more efficient substitutes for traditional latex products, improving patient comfort and safety. Their vast product portfolios and global activities provide them a strong market position and encourage competitive dynamics centred on market expansion and technological improvement.
Top Player’s Company Profiles
- Nektar Therapeutics (US)
- Dey Labs (US)
- Novartis AG (Switzerland)
- Boehringer-Ingelheim (Germany)
- GlaxoSmithKline (UK)
- 3M (US)
- Aterica (Canada)
- Allerayde UK Ltd (United Kingdom)
- Sanofi (France)
- Alcon Inc. (Switzerland)
- Rocky Mountain Diagnostics (US)
- Array (US)
- Merck (US)
- AstraZeneca (UK)
- Johnson & Johnson (US)
Recent Developments
- In April 2023, the world leader in protective solutions, Ansell Ltd., announced that its new line of synthetic surgical gloves will be on sale in April 2022. In response to the increasing need for safer options among healthcare professionals and patients with latex allergies, these gloves are made entirely without latex. The invention demonstrates Ansell's dedication to improving user safety and tackling the issue of latex allergies head-on.
- In July 2022, A brand-new over the counter (OTC) medication from Sanofi was unveiled with the intention of relieving latex allergy symptoms. With this advancement, the company's range of allergy solutions has grown significantly, and patients now have a readily accessible, non-prescription choice for symptom management. The action further demonstrates Sanofi's commitment to innovation in allergy treatment and patient welfare.
- In March 2023, the launch of Johnson & Johnson's latex-free bandage line in March 2023 marked a significant advancement for the company's medical devices division. This new product line is intended to reduce allergic reactions as it recognizes the potential problems that latex allergies can offer, particularly in sensitive settings like hospitals and clinics. This programme not only improves patient safety but also establishes Johnson & Johnson as a leader in the field of allergy care.
Latex Allergy Key Market Trends
- Addressing Latex Allergy Risks in Healthcare: Despite these advancements, it is important to remember that a significant portion of latex allergies are still typically diagnosed in medical institutions. Individuals who work in healthcare, patients undergoing surgery, and people who have frequently come into touch with medical equipment that contains latex are at a heightened risk of experiencing an adverse response to AM. When compared to other goods used in healthcare settings, this trend validates the importance and necessity of preventive measures.
- Innovations in Early Detection and Prevention of Latex Allergy Diagnostics: Innovation in latex allergy testing methods has been reported in response to shifts in market trends, which are expected to enhance diagnosis accuracy. As modern diagnostic techniques include specialized IgE blood tests and skin prick tests that can diagnose latex allergy at an early stage, when measures can be taken, the accuracy of latex allergy detection has increased.
Latex Allergy Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the rise in latex allergies because of increased exposure and awareness, together with improvements in diagnostic technologies that improve the precision and speed of allergy detection, is driving the expansion of the worldwide market for latex allergies. The accessibility and growth of the global latex allergy market are severely hampered by high pricing, little awareness, and inadequate healthcare infrastructure in poor nations. Multinational companies like 3M and Ansell Ltd., which promote innovation through R&D investments and provide latex-free products and diagnostics that improve patient safety and comfort, influence the competitive landscape of the worldwide latex allergy market. The important need for early detection and preventive interventions is highlighted by advancements in diagnostic tools and the persistently high incidence of latex allergy in hospital settings.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1721.62 million |
| Market size value in 2031 | USD 3047.69 million |
| Growth Rate | 7.4% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Latex Allergy Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Latex Allergy Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Latex Allergy Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Latex Allergy Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Latex Allergy Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Latex Allergy Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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