The growing incidence of various chronic diseases globally has increased the demand for allergy treatment market. The increasing incidence of allergic rhinitis and asthma with increasing Tabaco consumption in emerging economies will result in increasing need for allergy treatment
The growing incidence of various chronic diseases globally has increased the demand for allergy treatment market. The increasing incidence of allergic rhinitis and asthma with increasing Tabaco consumption in emerging economies will result in increasing need for allergy treatment. Additionally, inefficiency to provide proper medical condition in emerging economies that has increased various allergic diseases will also increase the demand for allergy treatment in coming years. Increasing environmental pollution has also aggravated certain allergic condition among the population. Moreover, some of the key players in the allergy treatment market can gain from new opportunities such as identification of new allergen targets and the emergence of sublingual immunotherapy (SLIT).
According to the new study in Annals of Allergy, Asthma and Immunology, published in the American College of Allergy, Asthma and Immunology (ACAAI) states that alpha gel (red meat of pork, beef, etc. carry complex sugar) also known as anaphylaxis in the main cause of severe allergic reactions. The anaphylaxis was unidentified by the researchers in the previous studies. With the recognition and increasing cases of Lone Star tick disease population found its source was alpha gal allergy identified in red meat. Thus, the identification of it has helped in proper identification of the increasing cases related to anaphylaxis. Therefore, increasing research and development and growing support by the government will benefit the allergy treatment market.
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As per the American Academy of Allergy Asthma and Immunology, the number of people suffering from allergic rhinitis and asthma have reached more than 20 million in the U.S. Therefore, there are various profitable opportunities for stockholders to grow in the global allergy treatment market.
- Nowadays, the use of allergy drugs are also useful to rectifying allergies completely rather than providing a temporary relief. Thus, the demand for allergy drug has increased in the global market and is expected to grow further in coming years. It is also anticipated that the adoption of immunotherapy will increase the body’s natural defense mechanism that will further add in favor to grow the allergy treatment market at a large scale.
- The allergy market may face certain hindrance because of expensive immunotherapy and increasing inclination towards complementary and alternative medicines (CAM) that may hamper the growth of the market.
- The regional contribution in the allergy treatment market is led by North America mainly in terms of value. As the region has large number, pharmaceutical companies that are making continuous efforts to develop advanced and new allergy treatment that has made North America to lead the global market. Prevalence of various allergic diseases and increasing government support to conduct further research and development in the developed countries such the U.S. and Canada have also surged the allergy treatment in North America.
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Growing Preference toward Self Medication for Treatment of Allergies to Boost Market
Allergens could comprise aeroallergens like tree weed, wheat, dust mite, soy, mold, prawns, eggs, and many other edible and non-edible things. Numerous allergic conditions can be caused by allergens like allergic rhinitis, asthma, hay fever, and atopic dermatitis. Some of the major symptoms of allergic reactions comprise rashes, itching on nose, eyes, throat, stuffy nose, red and teary eyes, sneezing, and many others. Apart from that, allergies to certain food items could also result in respiratory symptoms, acute diarrhea, vomiting, and respiratory issues. It could also, though rarely, cause death.
Substantial rise in the prevalence of allergic diseases and emerging trend of buying medications for allergies over the counter is another key factor for the expansion of the global allergy treatment market. A rise in self-medication at the backdrop of growing prevalence of various allergic diseases is likely to further support the growth of the market in times to come. According to the findings of World Health Organization (WHO), allergies are the fourth largest condition of pathology in the world. Increased research and development activities to bring forth new treatments and medications of various allergies are estimated to propel growth of the market in years to come.
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Some of the well-known market players in the global allergy treatment market are Schering-Plough Corporation, McNeil Consumer Healthcare, GlaxoSmithKline plc, Allergan plc, Collegium Pharmaceutical, Inc., and Allergy Therapeutics.
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