Pune, India, May 17, 2022 (GLOBE NEWSWIRE) -- The global allergy treatment market size is expected to grow substantially due to the rising prevalence of allergic conditions. Furthermore, the rising awareness of self-medication may foster market growth. Fortune Business Insights™ provides this information in its report titled “Allergy Treatment Market Share, 2022-2029.”
North America is expected to dominate the market, accounting for the highest share, and it is anticipated to maintain this trend throughout the forecast period. According to an article published in JAMA Network Open Journal, an estimated 10.8% were food allergic in the survey, whereas nearly 19% of adults believed they were food allergic.
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Drivers and Restraints
Development of Novel Products to Foster Industry Growth
- The development of novel medications and treatment procedures is expected to bolster the demand for allergy treatment. The rising investments in research and development may boost the product’s adoption. Manufacturers launch novel products to boost their brand presence and boost the adoption of the product.
- The incorporation of better materials and the increasing development of innovative medications may boost allergy treatment procedure adoption. These factors may drive the allergy treatment market growth.
- Significant increase in the prevalence of allergic diseases, rise in preferences toward over-the-counter drugs for allergy treatment, and surge in self-medication in consumers. However, increased usage of biosimilars, and safety & efficacy concerns regarding the side effects associated with vigorous consumption of anti-allergy drugs are anticipated to hamper the growth of the allergy treatment market
COVID-19 Pandemic
Reduced Treatment Procedures to Impede Market Growth
This market is expected to be negatively affected during the COVID-19 pandemic due to the rising cases of COVID patients. This factor led to a reduction in treatment procedures. Furthermore, the lack of medical equipment and resources required to produce medicines is expected to hinder the industry’s growth. However, the adoption of reduced capacities, part-time shifts, and automated production machinery may enable manufacturers to recover costs.
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Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Competitive Landscape
Prominent Companies Invest Heavily in Research and Development to Boost Brand Image
The prominent companies operating in the market invest heavily in research and development activities to boost the effectiveness of medicines and enhance market position. Furthermore, companies adopt automated production machinery to reduce labor costs resource consumption, enhance productivity, improve operational efficiency, and satisfy organizational goals. Moreover, the adoption of expansions may enable organizations to enhance their brand presence and boost the number of consumers. In addition, companies adopt mergers, acquisitions, and collaborations to boost their market position globally.
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Segmentation
By type, Allergy Treatment market is segmented into drug, food, insect, skin, dust, pet, pollen, latex, pollutant allergy, mold allergy, and others. As per treatment, it is bifurcated into medications and immunotherapy. Based on the route of administration, it is classified into oral, parenteral, nasal, and others. Geographically, it is clubbed into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Regional Insights
Rising Development of Food Allergy Treatment to Foster Industry Growth in North America
North America is expected to dominate the allergy treatment market share because of the rising development of food allergy treatment. Furthermore, the rising adoption of immunotherapy is expected to bolster allergy treatment adoption. These factors may propel market development in the region.
Europe is expected to be the second-largest market shareholder because of the innovations in sublingual doses delivery procedures. Furthermore, the rising prevalence of allergic conditions may foster market development.
In Asia Pacific, the rising disposable income is expected to boost allergy treatment adoption. Furthermore, increasing development in healthcare infrastructure may propel market development.
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Allergy Treatment Market Segmentation :
By Type
- Drug Allergy
- Food Allergy
- Insect Allergy
- Skin Allergy
- Dust Allergy
- Pet Allergy
- Pollen Allergy
- Latex Allergy
- Others (Pollutant Allergy, Mold Allergy)
By Treatment
- Medications
- Antihistamines
- Corticosteroids
- Mast Cell Stabilizers
- Autoinjectable Epinephrine
- Others (Decongestants, Leukotriene Inhibitors)
- Immunotherapy
By Route of Administration
- Oral
- Parenteral
- Nasal
- Others
By Geography-
- North America (USA, Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)
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List of Key Players Profiled in the Allergy Treatment Market Report
- GlaxoSmithKline plc. (Brentford, U.K.)
- Stallergenes Greer (London, U.K.)
- Sanofi (Paris, France)
- Johnson & Johnson Services, Inc. (U.S.)
- Circassia (Oxford, U.K.)
- F. Hoffman-La Roche Ltd (Basel, Switzerland)
- AbbVie Inc. (North Chicago, Illinois, U.S.)
- ALK (Hørsholm, Denmark)
- Allergy Therapeutics (U.K.)
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