Publication Month: Mar 2021 | Report Code: TIPRE00004584 | No. of Pages: 191 | Category: Pharmaceuticals | Status: Published
Allergies are hypersensitive responses by the human immune system to the substances that come in contact with the body. Some stimuli that cause an allergic reaction are dust mites, animal dander, cockroaches, pollens, mold, food substances, metals, elements, and more. Severe allergy can be life-threatening, which disturbs the normal functioning of organs, as asthma causes poor functioning of the lungs. The most effective treatment for allergy is to avoid the known allergens; there are medications such as steroids and antihistamines, and other therapies which prevent allergies. Allergy treatment is done primarily through drugs and long-term immunotherapies. The primary types of allergies studied in the market report are rhinitis, asthma, skin allergies, food allergies, eye allergies, and other allergies.
The allergy treatment market is segmented based on allergy type, treatment, and geography. The market, by geography, is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The market report offers insights and in-depth analysis of the market, emphasizing parameters such as market size, market trends, technological advancements in the market, and market dynamics, along with the global analysis of the competitive landscape of the leading market players that are driving the allergy treatment market growth.
The allergy treatment market growth is attributed to the increasing adoption of immunotherapy in allergy treatment and the developments in food allergy treatments which have significantly increased the market size and are expected to have a significant short-, mid-, and long-term impact on the market size in the coming years. However, the lack of awareness about allergy treatments is hampering the growth of the market. The allergy treatment market report also studies the ongoing opportunities and market trends that can have a possible impact on the market growth.
Allergy is a common medical condition among a large share of the global population. It is one of the chronic health conditions that may result in severe consequences. Food allergies are ubiquitous in North America and Europe. The majority of people are allergic to garlic, wheat, peanuts, milk, fish, etc. According to estimations of the Center for Biologics Evaluation and Research of the Food and Drug Administration (FDA), ~1 million children in the US are allergic to peanuts, and one in five of these children is likely to surmount the respective allergy condition. In those who don’t outgrowth this allergy, the small intake of peanuts is unpredictable and harmful, which may result in severe reactions. Therefore, it becomes essential to develop treatment options for allergies to such common foodstuff.
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 the 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 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.
Also, factors such as the increasing adoption of immunotherapy in allergy treatment through allergy shots and sublingual immunotherapy (SLIT) have shown to reduce allergic symptoms by 50–65% among the patients who have completed their dosages of allergens.
The global allergy treatment market, based on allergy type, is divided into eye allergy, rhinitis, asthma, skin allergy, food allergies, and other allergies. The rhinitis segment held the largest share of the market in 2020 and is anticipated to dominate the market during the forecast period and have a higher CAGR during the forecast period.
Based on the treatment, the allergy treatment market is bifurcated into anti-allergic drugs and immunotherapies. The anti-allergic drugs segment held a larger share of the market in 2020 and is expected to hold a significant share of the market during the forecast period. However, the immunotherapies segment is expected to witness a higher CAGR from 2021 to 2028.
|Market Size Value in||US$ 21,160.92 million in 2020|
|Market Size Value by||US$ 35,812.33 million by 2028|
|Growth rate||CAGR of 6.9% from 2021 to 2028.|
|No. of Pages||191|
|No. of Tables||117|
|No. of Charts & Figures||77|
|Historical data available||Yes|
|Segments covered||Allergy Type and Treatment|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
Various companies operating in the allergy treatment market adopt strategies such as product launches, mergers and acquisitions, collaborations, product innovations, and product portfolio expansions to expand their footprint worldwide, maintain the brand name, and meet the growing demand from end users.