According to FutureWise analysis the market for Latex Allergy in 2023 is US$ 1.67 billion, and is expected to reach US$ 3.01 billion by 2031 at a CAGR of 7.62%.
Latex allergy is caused by some proteins in natural rubber latex, which is derived from rubber trees. Even life-threatening conditions have been associated with it, including hives and itchy skin. Latex allergies can be treated with different types of medications, such as injections of antihistamines, adrenaline, and corticosteroids. Increasing prevalence of such allergies, which lead to other diseases like asthma, rhinitis, anaphylaxis, and so on, boosts the market's growth. Additionally, rising healthcare expenditures and increasing research and development activities for improved treatment of the disease are some of the major factors driving the latex allergy market. Latex allergy occurs when the body reacts to certain proteins found in natural rubber latex. As a consequence, if someone has a latex allergy, their bodies mistake latex for a harmful substance. A latex allergy may cause itchy skin and hives, or even anaphylaxis, a potentially life-threatening condition that causes throat swelling and difficulty breathing. Furthermore, around half of all people with latex allergies have allergic reactions when eating certain foods, including avocado, tomato chestnut, strawberry, passionfruit, plum, kiwifruit, and banana. Due to the presence of some proteins in latex that cause latex allergies, these fruits also cause latex allergies. Additionally, tingling in the mouth, stuffy noses, itchy eyes, and wheezing are common symptoms. Around 10 percent of health care professionals suffer from latex allergy, which is much more prevalent in the health care industry. People who are allergic to latex usually do not experience allergic reactions to synthetic rubber products made from petrochemicals. There are mild to severe symptoms associated with latex allergies. A person's reaction to latex depends on their sensitivity to it and how much they touch or breathe in. Since the latex allergy market is solely reliant on the production and treatment of latex allergies, the novel COVID-19 pandemic poses a threat. As a result of the pandemic, many people who suffer from latex allergies are also facing a huge challenge in treating another disease such as asthma.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Latex Allergy Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Latex Allergy Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.