Allergy Treatment Market - Growing Concern of Peanut Allergies Leading to New Developments
The growing influence of allergy treatment across the globe due to the emergence of diverse types of allergies among a considerable populace may bring immense growth prospects for the allergy treatment market during the forecast period of 2019-2029.
An allergy can be defined as an abnormal reaction to foreign substances by the immune system. These foreign substances are known as allergens. The rapidly increasing pollution levels and significant changes in lifestyle may bring good growth opportunities for the allergy treatment market.
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This report on the allergy treatment market describes the overall present scenario. The report covers growth parameters such as popular trends, competitive assessments, and the regional landscape. The allergy treatment market report also analyses the pain points and helps the stakeholder to understand the probabilities. The report serves as an ideal tool for the stakeholder to develop business strategies.
Allergy Treatment Market: Competitive Overview
Players in the allergy treatment market invest heavily in research and development activities for creating novel treatment options. Continuous research opens a wave of new opportunities for the growth of the allergy treatment market. The involvement of players in activities such as mergers, acquisitions, joint ventures, collaborations, and partnerships helps them to cement their position in the allergy treatment market. This aspect eventually lays a red carpet of growth for the allergy treatment market.
Investments by various conglomerates and investment firms due to the growing interest in the allergy treatment market may bring expansive growth opportunities.
Allergy Treatment Market: Well-Entrenched Participants
Some key players involved in the global allergy treatment market are:
- Meda Pharmaceuticals
- Collegium Pharmaceutical, Inc.
- Genentech Inc.
- Allergy Therapeutics
- Schering-Plough Corporation
- Alerpharma S.A.
- Sepracor, Inc.
- Allergon AB
Peanut allergies are rising rapidly across the globe. Peanut allergies affect an estimated 1.2 percent of the overall US population according to the American Journal of Managed Care (AJMC). Peanut allergy is the most common type of food allergy caused across the pediatric population. Therefore, this aspect has led to finding new treatments for peanut allergy.
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The Food and Drug Administration (FDA) recently approved Paliforzia, a powder created from peanuts to treat peanut allergy. The powder exposes the body to certain amounts of peanut protein and needs to be taken daily. Such developments assure extensive growth for the allergy treatment market through the forecast period.
Home Medication to Sow Seeds of Growth across Allergy Treatment Market
The COVID-19 pandemic has led many people to switch their treatment options. Instead of visiting a clinic, a considerable populace now opts for home medications orally. The growing demand for home medication is due to the rising threat of COVID-19 and the fear of contracting the virus. Therefore, home medication may serve as a growth multiplier for the allergy treatment market.
Allergy Treatment Market: Geographical Dimensions
The allergy treatment market can e segmented into North America, Latin America, the Middle East and Africa, Europe, and Asia Pacific. North America may serve as the largest growth contributor for the allergy treatment market across the forecast period. The rising prevalence of allergies across the region may act as a significant factor in increasing the growth rate. Asia Pacific may advance rapidly between 2019 and 2029 due to the improving healthcare infrastructure and the rising cases of allergies in the region.
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