Allergy Treatment Market Drivers and Forecasts by 2031

The allergy treatment market size is projected to reach US$ 33.5 billion by 2031 from US$ 20.2 billion in 2023. The market is expected to register a CAGR of 7.8% during 2023–2031. Rising Research & Development (R&D) activities are likely to remain key trends in the market.

Allergy Treatment Market Analysis

Rising R&D activities for allergy treatment to develop innovative drugs is likely to remain as a new market trend in the coming years. Despite several allergic medicines in the market, still many patients with respiratory allergies and asthma are not adequately controlled or are insufficiently treated with symptomatic therapy. For example, several respiratory allergies are a risk of developing asthma. Therefore, several top manufacturers are designing clinical trial programs for allergies. HAL Allergy B.V.'s "Allergen Immunotherapies" for respiratory allergies for a clinical trial is an example. Therefore, rising R&D activities will result in the development of novel anti-allergic drugs will account considerable market growth during 2021-2031.

Allergy Treatment Market Overview

According to the Asthma Allergy Clinic report, new data published by the World Allergy Organization (WAO) reveals that 14% of people have asthma, with 20% suffering from allergic rhinitis (AR), which results in IgE-mediated inflammation of the nasal mucosa. Currently, about 20-30% of the people in India have one or more allergic diseases, and the prevalence will rise in the coming years. Therefore, rising cases of allergies will accelerate demand for antiallergic drugs in the coming decade.

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Allergy Treatment Market: Strategic Insights

Allergy Treatment Market Drivers and Opportunities

Rising Allergy Cases Accelerate Demand for Anti-Allergic Drugs  to Favor Market

According to the American Academy of Pediatrics report, the most common type of allergy is Hay Fever (allergic rhinitis), which accounts for the high cost of treatment. For example, the direct and indirect costs exceed US$7 billion annually for allergy treatment. Therefore, good allergy treatment is based on medical history, results of allergy tests, and with symptoms mild or severe. Additionally, immunotherapy is an effective treatment option for some allergy patients. There are two common types of immunotherapy. These include allergy shots and sublingual immunotherapy (SLIT). Allergy shots include giving injection of allergens with; an increasing dose over time. Also, the person progressively less sensitive to that allergen as these shots can work well for some people with allergies to pollen, pets, dust, bees, and other stinging insects, as well as asthma.  Therefore, rising allergy cases accelerate demand for anti-allergic drugs acting as the major drivers for global allergy treatment market share.

New Drug Approvals for Allergy Treatment Provide Lucrative Market Opportunity

New drug approvals to treat allergy treatments will provide lucrative market opportunity for the allergy treatment market. In June 2020, Cadila Pharmaceuticals Limited announced the launching of "Bilastine Syrup (30ml)" and Bilastine Tablets of 20mg strength. Additionally, in March 2022, Perrigo Company plc announced receiving final approval from the USFDA for over-the-counter (OTC) use of "Nasonex® 24HR Allergy (mometasone furoate monohydrate 50mcg)". The approval marks the first branded Rx-to-OTC switch for the company for "Nasonex" to enter the OTC marketplace.

Allergy Treatment Market Report Segmentation Analysis

Key segments that contributed to the derivation of the allergy treatment market analysis are type, cause, disorder type, category, and end user.

• Based on allergy type, the allergy treatment market is segmented as eye allergies, rhinitis, asthma, skin allergies, food allergies, and others. The rhinitis segment held a larger market share in 2023.
• By treatment, the market is segmented into anti-allergy drugs and immunotherapies. The anti-allergy drugs segment held the largest share of the market in 2023.

Allergy Treatment Market Share Analysis by Geography

The geographic scope of the Allergy Treatment market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

North America has dominated the market. In North America region, the US accounts largest share for allergy treatment market. Presence of top manufacturers in the region and their innovative anti-allergic drugs having effective pharmacological activity are the factors contributing to the dominance of the market. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.

Allergy Treatment Market Regional Insights

The regional trends and factors influencing the Allergy Treatment Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Allergy Treatment Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Allergy Treatment Market Report Scope

Allergy Treatment Market Players Density: Understanding Its Impact on Business Dynamics

The Allergy Treatment Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Allergy Treatment Market News and Recent Developments

The Allergy Treatment market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Allergy Treatment market are listed below:

• In February 2024, Novartis announced US Food and Drug Administration (USFDA) approval of "Xolair (omalizumab)". The newly launched product is used for the reduction of allergic reactions, including anaphylaxis occurring with accidental exposure to one or more foods in adult and paediatric patients aged 1 year and older with IgE-mediated food allergy. (Source: Novartis, Company Website, February 2024)

Allergy Treatment Market Report Coverage and Deliverables

The “Allergy Treatment Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Allergy treatment market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Allergy Treatment market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Allergy Treatment market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Allergy Treatment market
• Detailed company profiles