The allergy treatment market was valued at US$ 21,160.92 million in 2020 and is projected to reach US$ 35,812.33 million by 2028; it is expected to grow at a CAGR of 6.9% from 2021 to 2028.
The allergy treatment market was valued at US$ 21,160.92 million in 2020 and is projected to reach US$ 35,812.33 million by 2028; it is expected to grow at a CAGR of 6.9% from 2021 to 2028.
The allergies are hypersensitive responses from human immune system to the substance that are foreign to the body. Dust mite, animal dander, cockroach, pollens, mold, food substances, and metal and element particles are among the common allergens. While allergies can disturb the normal functioning of organs, severe allergies can be life threatening; for example, asthma leads to poor lung functioning. Although the most effective method of gaining protection against allergies is to avoid being exposed to the known allergens, medications such as steroids and antihistamines are available for treating them.
The allergy treatment market is segmented on the basis of allergy type, treatment, and geography. By geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South and Central America. The report offers insights and in-depth analysis of the allergy treatment market, emphasizing on parameters such as market trends, technological advancements, and market dynamics along with the analysis of competitive landscape of world’s leading market players.
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Some of the Prominent/Emerging Players in Allergy Treatment Market:
A few prominent players operating in the allergy treatment market are Johnson and Johnson Services, Inc.; Sanofi; AbbVie Inc. (Allergan plc); Pfizer Inc.; LETIPharma; ALK-Abelló A/S; Allergy Therapeutics; Stallergenes Greer; GlaxoSmithKline plc; and Dermapharm Holding.
Key Questions regarding Current Allergy Treatment Market Landscape
- What are the current options for Allergy Treatment Market?
- How many companies are developing for the Allergy Treatment Market?
- What are the key collaborations (Industry-Industry, Industry-Academia), Mergers and acquisitions, and significant licensing activities that will impact the Allergy Treatment market?
- Which are the dormant and discontinued products and the reasons for the same?
- What is the unmet need for current Allergy Treatment Market?
- What are the current novel therapies, targets, mechanisms of action, and technologies developed to overcome the limitation of existing Allergy Treatment?
- What are the critical designations that have been granted for Allergy Treatment Market?
The COVID-19 pandemic is estimated to have a positive impact on the allergy treatment market. Majority of the pharmaceutical companies across the world are engaged in the development of vaccines against this disease. Moreover, allergy and asthma exacerbations are frequently triggered by viral infections, including coronaviruses. Thus, telehealth can be central in delivering allergy/immunology services within a risk-stratified context of the SARS-CoV-2 pandemic which is anticipated to have a positive impact on the other segments of the market in the coming months. However, disruptions in the supply chain caused due to the halt in global operations are hindering the market growth.
Based on allergy type, the global allergy treatment market is segmented into eye allergy, rhinitis, asthma, skin allergy, food allergies, and other allergies. In 2020, the rhinitis segment held the largest share of the market; it is also expected to be a leading shareholder in the market by 2028. The market growth is mainly attributed to the growing prevalence of rhinitis worldwide, which is likely to continue in the coming years due to constant climatic and environmental changes, thereby boosting the demand for decongestants, antihistamines, and topical/oral steroids worldwide.
Various studies have shown that immunotherapy reduces allergic symptoms by 60–65% among the patients who have completed their dosages of allergen. According to a study published in Annals of Allergy, Asthma and Immunology Journal in February 2016, ~70% of allergy patients do not need medications for their allergic reactions. The study also stated that immunotherapy is effective among children as well as elderly population. Thus, the increasing adoption of immunotherapy in the treatment of allergies is fueling the allergy treatment market growth.
Developments in the pharmaceuticals industry have enabled companies to offer treatment for peanut allergy reactions. In February 2020, the US FDA approved Palforzia, peanut (Arachis hypogaea) allergen powder-dnfp, as a treatment for peanut allergy, which is intended to alleviate allergic reactions such as anaphylaxis resulting from accidental peanut intake. The product is developed for children from age group of 4–17. Palforzia was developed by Aimmune Therapeutics, Inc., a Nestle Health Science Company. It is administered in three dosages such as initial dose escalation, up-dosing, and maintenance. Palforzia is packaged in pull-apart color-coded capsules for dose escalation and up-dosing, and in sachets for the maintenance stage. While administering, it is mixed with a semi-solid food such as curd and pudding. It has been made available in the US, Canada, and Europe. Such developments in the food allergy treatment options and their effectiveness are the factors boosting the allergy treatment market growth.
Reasons to Buy:
- The nature of Allergy Treatment business opportunities has grown in complexity with the industry evolving at a greater pace, making it increasingly difficult going without adequate information on markets and companies.
- Gain a complete understanding of Global Allergy Treatment industry through the comprehensive analysis
- Evaluate the pros and cons of investing/operating in country level Allergy Treatment markets through reliable forecast model results
- Identify potential investment/contract/expansion opportunities
- Drive your strategies in the right direction by understanding the impact of latest trends, market forecasts on your Allergy Treatment business
- Beat your competition through information on their operations, strategies and new projects
- Recent insights on the Allergy Treatment market will help users operating in the market to initiate transformational growth
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