The rhinitis segment by allergy type is estimated to lead the market growth during the forecast period.
According to The Insight Partners market research study of “South and Central America Allergy Treatment Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Allergy Type, Treatment and Country.” The South and Central America allergy treatment market is expected to reach US$ 2,431.66 million by 2028 from US$ 1,523.89 million in 2020; it is estimated to grow at a CAGR of 6.1% from 2021 to 2028. The report highlights trends prevailing in the South and Central America allergy treatment market and the factors driving market along with those that act as hindrances.
The South and Central America allergy treatment market, based on the allergy type was 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, whereas the food allergies segment is expected to grow at the fastest rate during the coming years. The allergies are hypersensitive responses from human immune system to the substance that come in contact with body. Severe allergy can be life threatening which disturb the normal functioning of organs such as asthma causes poor functioning of lungs. The most effective treatment for allergy is to avoid the known allergens, while there are medications such as steroids and antihistamines and other therapies which prevent allergies. According to the European Community Respiratory Health survey published in 2018, ~ 10–30% of adults and nearly 40% of children are affected by allergic rhinitis across the world. Immunotherapy has shown positive and long-term benefits in allergic patients and is suitable for self-administration and medicine usage in homecare settings. Therefore, immunotherapy has emerged as a safe and effective alternative subcutaneous route for both chronic and recurrent allergies. Also, developments in the pharmaceuticals industry have enabled companies to offer treatment for varied allergy reactions. Such developments in the food allergy treatment options and their effectiveness are the factors boosting the allergy treatment market growth.
The growth of the market is attributed to increasing adoption of immunotherapy in allergy treatment, and developments in food allergy treatments. However, the lack of awareness about allergy treatments is a key factor restraining the market growth.
Johnson and Johnson Services, Inc., Sanofi, AbbVie's Inc., ALK-Abelló A/S, Allergy Therapeutics, Stallergenes Greer, Pfizer Inc. and GlaxoSmithKline PLC are among the leading companies operating in the South and Central America allergy treatment market.
The report segments in South and Central America allergy treatment market as follows:
By Allergy Type:
- Eye Allergy
- Rhinitis
- Asthma
- Skin Allergy
- Food Allergies
- Other Allergies
By Treatment:
- Anti-Allergy Drugs
- Antihistamines
- Corticosteroids
- Decongestants
- Other Drug
- Immunotherapy
- Sub-cutaneous Immunotherapy (SCIT)
- Sub-Lingual Immunotherapy (SLIT)
By Country
- Brazil
- Argentina
- Rest of South and Central America
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