Allergy Treatment Market Expected to Reach $40,360 Million | 6.3% CAGR
Allergy Treatment Market – New Opportunities, Top Trends, Rising Demand, Emerging Growth, Business Development and Key Players
PORTLAND, OREGON, USA, Sept. 6, 2022 /EINPresswire.com/ — Allergy Treatment Market by Type, Treatment, Dosage Form and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2018-2025, Global Allergy Treatment Market was valued at USD 24,653 Million in 2017 and is projected to reach USD 40,360 Million by 2025, growing at a CAGR of 6.3% from 2018 to 2025. According to Type, the rhinitis and asthma segments accounted for more than half of the total market share in 2017.
An allergy is defined as a hypersensitive reaction to various foreign substances by the immune system. Substances that trigger an allergy are called allergens. Examples include pollens, dust mites, molds, pet dander, certain foods and others. Patients prone to allergies are said to be allergic or atopic. The allergy treatment market is expected to grow at a rapid rate owing to the focus on new treatment developments for allergy-specific drugs, the advent of immunotherapy and the increasing prevalence of allergies in the world.
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North America was the main revenue contributor to the global market in 2017, driven by increased investment in healthcare by manufacturers, increased R&D spending for the development of treatments for allergies and the growing prevalence of food allergies. Asia-Pacific is expected to witness the highest growth rate throughout the forecast period, due to the increase in the prevalence of allergic asthma due to the increase in pollution, increased internet penetration and allergy awareness.
By type, the rhinitis segment generated the highest revenue in 2017 and is expected to maintain this dominance throughout the forecast period. This is attributed to the increased prevalence of allergic rhinitis across the world. For example, according to the European Academy of Allergy and Clinical Immunology (EAACI), approximately 400 million patients suffer from rhinitis. However, the food allergy segment is expected to register the highest growth rate during the forecast period.
On the basis of dosage form, the oral medications segment generated the highest revenue, owing to the increase in consumer preference for the consumption of oral medications and the ease of its manufacturing process. However, the intranasal dosage form is expected to grow at the highest CAGR throughout the forecast period.
The allergy treatment market is expected to witness substantial growth owing to the increase in the number of self-reliant consumers and increased awareness of immunotherapy treatment. Increasing traction towards the incorporation of immunotherapies for the treatment of various allergies is helping the market grow. There have been remarkable advancements in the field of immunotherapy, which has enabled major market players to focus on the development of allergen-specific immunotherapies. These factors are expected to drive the market growth in the near future.
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CHAPTER 1 INTRODUCTION
1.1. Description of the report
1.2. Main benefits for stakeholders
1.3. Key market segments
1.4. Research methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and templates
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO point of view
CHAPTER 8: ALLERGY TREATMENT MARKET, BY REGION
8.1.1. Market size and forecast
8.2. North America
8.2.1. Main trends and opportunities
8.2.2. North America Market Size and Forecast, by Country
8.3.1. Main trends and opportunities
8.3.2. European market size and forecast, by country
8.4. Asia Pacific
8.4.1. Main trends and opportunities
8.4.2. Asia-Pacific Market Size and Forecast, by Country
Major Key Players –
GlaxoSmithKline, ALK-Abelló A/S, Sallergenes Greer, Allergy Therapeutics, Sanofi SA, Johnson & Johnson, Merck Co. In, Merck KGaA, F. Hoffmann-La Roche AG and Allergan plc.
Key Findings of the Allergy Treatment Market:
By type, rhinitis and asthma segments dominated the global allergy treatment market in 2017 and are expected to maintain this trend during the forecast period.
Based on treatment, the immunotherapy segment is expected to register the highest CAGR of 8.5% from 2018 to 2025.
The United States generated the highest revenue in the global allergy treatment market in 2017, accounting for more than half of the market in North America.
Asia-Pacific was the major contributor of the allergy treatment market in 2017 and is expected to witness rapid growth over the forecast period.
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