Allergy Treatment Market Size Growing at 5.8% CAGR, Set to Reach USD 36.2 Billion By 2032

LOS ANGELES, April 11, 2023 (GLOBE NEWSWIRE) -- The Global Allergy Treatment Market Size collected USD 20.8 Billion in 2022 and is set to achieve a market size of USD 36.2 Billion in 2032 growing at a CAGR of 5.8% from 2023 to 2032.

Allergy Treatment Market Highlights and Statistics:

• The Global Allergy Treatment Market Size in 2022 stood at USD 20.8 Billion and is set to reach USD 36.2 Billion by 2032, growing at a CAGR of 5.8%
• Common types of allergies include allergic rhinitis, asthma, food allergies, and skin allergies.
• Antihistamines, corticosteroids, and decongestants are among the commonly prescribed medications for allergies.
• Immunotherapy is the commonly used treatment for allergies, including subcutaneous immunotherapy (SCIT) and sublingual immunotherapy (SLIT).
• The Asia Pacific region is set to witness the fastest growth in the allergy treatment market due to the increasing prevalence of allergies and growing awareness of treatment options.
  

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Allergy Treatment Market Report Coverage:

Allergy Treatment Market Overview:

The allergy treatment market is growing due to allergies being a common phenomenon that affects millions of people. The market for allergy treatments has been growing at an impressive rate, offering diverse and unique applications that cater to various types of allergies, such as allergic rhinitis, asthma, food allergies, and skin allergies.

One of the most commonly used treatments for allergies is immunotherapy, which includes subcutaneous immunotherapy (SCIT) and sublingual immunotherapy (SLIT). These treatments have been proven to be effective in managing allergies, and the market for allergy immunotherapy is expected to grow significantly in the coming years. Additionally, antihistamines, corticosteroids, and decongestants are among the most commonly prescribed medications for allergies.

The market for over-the-counter allergy medications is also witnessing steady growth, driven by the increasing awareness of treatment options and the availability of a wide range of allergy medications. The Asia Pacific region is expected to witness the fastest growth in the allergy treatment market, due to the rising prevalence of allergies and growing awareness of treatment options.

The allergy treatment market is a thriving industry that offers diverse and unique applications for managing various types of allergies. With the development of new and innovative treatment options, the market is expected to continue to grow in the coming years.

Trends in the Allergy Treatment Market:

• High focus on precision medicine and personalized treatment plans for allergies.
• Development of novel immunotherapy treatments such as peptide immunotherapy and oral immunotherapy for food allergies.
• Incorporation of mobile apps and digital platforms to help patients manage their allergies.
• Use of probiotics and prebiotics as potential treatment options for allergies.
• Growing adoption of alternative therapies such as acupuncture and herbal medicine for allergy management.
• Rising demand for allergen-free and hypoallergenic products.
• Growing use of allergy diagnostics and testing to identify specific allergens causing symptoms.
• Development of non-invasive and minimally invasive allergy testing methods such as skin patch testing and blood tests.
• Emergence of new allergy treatment options such as anti-IL-5 therapy and anti-IgE therapy.
• Increasing use of sublingual immunotherapy for the treatment of allergies in children.
• Use of biologics in the treatment of severe asthma and allergic rhinitis.
• Development of novel drug delivery systems such as nasal sprays and inhalers for allergy management.

Allergy Treatment Market Dynamics:

• Increasing prevalence of allergies: Allergies are becoming more common worldwide, which is driving the demand for allergy treatments.
• Growing awareness of allergies: People are becoming more aware of the symptoms and consequences of allergies, which is leading to an increased demand for allergy treatments.
• Increasing demand for over-the-counter allergy medications: The demand for over-the-counter allergy medications is increasing due to their ease of access and convenience.
• Growing preference for natural and herbal allergy treatments: More people are opting for natural and herbal allergy treatments, which is driving the growth of the market for these products.
• Increasing availability of allergy testing: The availability of allergy testing is increasing, which is leading to more accurate diagnoses and better treatment outcomes.
• Rising healthcare expenditure: Rising healthcare expenditure is increasing the availability of allergy treatments and making them more accessible to patients.

Growth Hampering Factors in the Market for Allergy Treatment:

• Treatment cost: Allergy treatments can be expensive, which can limit access to treatment for some patients.
• Lack of adherence to treatment: Patients may not adhere to their prescribed allergy treatments, which can limit treatment outcomes.
• Difficulty in diagnosing allergies: Diagnosing allergies can be challenging, and misdiagnosis can lead to ineffective treatments.
• Seasonal variations in allergy symptoms: Allergy symptoms can vary seasonally, which can lead to inconsistent treatment outcomes.
• Adverse side effects: Allergy treatments can have adverse side effects, which can deter patients from seeking treatment.
• Ineffective treatments: Some allergy treatments may not be effective for all patients, which can lead to frustration and a reluctance to seek further treatment.

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Market Segmentation:

By Type

• Asthma
• Skin Allergy
• Rhinitis
• Eye Allergy
• Food Allergy
• Other

By Type of treatment

• Immunotherapy
• Anti-Allergy Drugs

By Form of Dosage

• Intranasal
• Inhalers
• Oral
• Other

Distribution Channel

• Online Retailers
• Retail Pharmacies
• Hospital Pharmacies
• Other

Allergy Treatment Market Overview by Region:

North America’s Allergy Treatment market share is the highest globally, driven by the high prevalence of allergies and a well-established healthcare system. The United States is the largest market for allergy treatments in North America, accounting for a significant share of the global market. In addition, the increasing adoption of immunotherapy and biologics is driving the growth of the market in the region. For example, in the US, the FDA has approved several biologic drugs for the treatment of allergies, such as Dupixent and Nucala.

The Asia-Pacific region’s Allergy Treatment Market share is also huge and is growing at the fastest rate, driven by the increasing prevalence of allergies and the rising healthcare expenditure in the region. In addition, the growing awareness of allergies and the availability of allergy testing and treatments are driving the growth of the market in the region. For example, in China, the prevalence of allergies is increasing rapidly, and the demand for allergy treatments is growing. In addition, there has been a growing adoption of immunotherapy and biologics in the region.

Europe is another key market for Allergy Treatment, driven by the high prevalence of allergies and the increasing availability of allergy testing and treatments. In addition, the growing demand for natural and herbal allergy treatments is driving the growth of the market in the region. For example, in Germany, herbal remedies are a popular treatment option for allergies, and there has been an increasing demand for natural and organic allergy products.

The South American and MEA regions have a lower but emerging Allergy Treatment market share, and is expected to continue its growth trajectory.

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Allergy Treatment Market Key Players:

The Allergy Treatment Market has a diverse range of players, including pharmaceutical companies, biotech firms, and medical device manufacturers. Some of the key players in the market include Sanofi, ALK-Abello, Merck & Co., Inc., GlaxoSmithKline, Johnson & Johnson, Novartis AG, Stallergenes Greer, AstraZeneca, Teva Pharmaceutical Industries Ltd., Allergopharma, Biomay AG, DBV Technologies, HAL Allergy B.V., AllerBio AB, Circassia, ASIT biotech, Adare Pharmaceuticals, Inc., BioMerieux SA, Genentech, and Boehringer Ingelheim.

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