Allergy Treatment Market Revenue to Reach USD 35,812.33 Million by 2028, registering a CAGR of 6.9%

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Rising number of product launches drive the growth of allergy treatment market

NEW YORK, USA, March 11, 2022 /EINPresswire.com/ — According to new market research from The Insight Partners titled “Allergy Treatment Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Allergy Type and Treatment” , the market is expected to reach US$35,812.33 million by 2028 from US$21,160.92 million in 2020; it is estimated to grow at a CAGR of 6.9% from 20210 to 2028. The report highlights the trends prevalent in the global allergy treatment market along with the market drivers and disincentives. Rising adoption of immunotherapy in allergy treatments and developments in food allergy treatments are the key factor fueling the growth of the market.

Immunotherapy comes in two different types: allergy shots and sublingual immunotherapy (SLIT). Allergy shots are allergen extracts that are given in increasing doses; they are effective for allergies caused by asthma, pets, dust, pollen, bees and other stinging insects. Generally, SLIT tablets are administered daily by keeping them under the tongue; this type is an effective treatment option for nasal allergies and asthma. The administration of repeated doses of allergen makes patients less sensitive to this allergen, which relieves allergic symptoms. Immunotherapy has shown positive, long-term benefits in allergic patients. In addition, it is suitable for self-administration and medication use in home care settings. Therefore, immunotherapy has emerged as a safe and effective alternative subcutaneous route for chronic and recurrent allergies.

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A few prominent players operating in the allergy treatment market are Johnson and Johnson Services, Inc.; Sanofi; AbbVie Inc. (Allergan plc); Pfizer Inc.; LETIPharma; ALK-Abello A/S; Therapeutic against allergies; Stallergenes Greer; GlaxoSmithKline plc; and Dermapharm Holding. Market players are focusing on offering innovative products and services to maintain their position in the allergy treatment market.

For example, in September 2019, biotech company Allergy Therapeutics announced an investment in virus-like particle (VLP) technology for applications beyond the field of allergy immunotherapy. It has entered into an exclusive licensing agreement with Saiba and DeepVax to use their patented VLP technology platform to develop and commercialize vaccines targeting solid cancer tumors, atopic dermatitis, asthma and psoriasis.

The COVID-19 pandemic is estimated to have a significant positive impact on the allergy treatment market. The majority of pharmaceutical companies around the world are engaged in the development of vaccines against COVID-19. Additionally, exacerbations of allergies and asthma are frequently triggered by viral infections, including coronaviruses. Thus, telehealth can play a central role in the delivery of allergy/immunology services in a risk stratified context of the SARS-CoV-2 pandemic which is expected to have a positive impact on other market segments in the coming months. to come. However, supply chain disruptions caused by the shutdown of global operations are hampering the growth of the market.

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Various studies have shown that immunotherapy reduces allergic symptoms by 60-65% in patients who have completed their allergen dosages. According to a study published in Annals of Allergy, Asthma and Immunology Journal in February 2016, approximately 70% of allergic patients do not need medication for their allergic reactions. The study also indicated that immunotherapy is effective in children as well as in the elderly. Thus, the increasing adoption of immunotherapy in the treatment of allergies is fueling the growth of the allergy treatment market.

On the basis of allergy type, the allergy treatment market is segmented into eye allergy, rhinitis, asthma, skin allergy, food allergy, and other allergies. In 2020, the rhinitis segment held the largest market share, and it is expected to remain the major market shareholder by 2028. With the increasing prevalence of rhinitis, likely due to frequent climatic and environmental changes, the demand for treatment groups such as decongestants, antihistamines, and topical/oral steroids is also on the rise worldwide.

Developments in the pharmaceutical industry have allowed companies to offer treatment for allergic reactions to peanuts. In February 2020, the US FDA approved Palforzia, Peanut Allergen Powder (Arachis hypogaea)-dnfp, as a treatment for peanut allergy, which aims to alleviate allergic reactions such as anaphylaxis resulting from consumption accidental peanuts. The product is developed for children in the age group of 4 to 17 years. Palforzia was developed by Aimmune Therapeutics, Inc., a Nestlé Health Science company. It is administered in three doses such as initial dose escalation, dose escalation and maintenance. Palforzia is packaged in colour-coded detachable capsules for dose escalation and dose escalation, and in sachets for the maintenance phase. When administered, it is mixed with a semi-solid food such as curd and pudding. It was made available in the United States, Canada, and Europe. These developments in food allergy treatment options and their effectiveness are the factors driving the growth of the allergy treatment market.

Allergy is a common medical condition among a large portion of the world’s population. This is one of the chronic diseases that can lead to serious consequences. Food allergies are ubiquitous in North America and Europe. Most people are allergic to garlic, wheat, peanuts, milk, fish, etc. According to estimates from the Food and Drug Administration’s (FDA) Center for Biologics Evaluation and Research, approximately 1 million children in the United States are allergic to peanuts, and one in five of those children is likely to overcome the condition. respective allergy. In those who do not develop this allergy, the small consumption of peanuts is unpredictable and harmful, which can lead to serious reactions. Therefore, it becomes essential to develop treatment options for allergies to these common foods.

Order a copy of the 2021-2028 Research Report on Allergy Treatment Market Share, Strategies and Forecasts at: https://www.theinsightpartners.com/buy/TIPRE00004584/

Browse a similar report and get a sample PDF copy

Eye Allergy Treatment Market Forecast to 2028 – Impact of Covid-19 and Global Analysis – By Treatment (Drugs, Allergy Injections, Others); End user (medical institutes, eye hospitals and clinics, research centers, others)
https://www.theinsightpartners.com/sample/TIPRE00007418/?utm_source=EinPressWire&utm_medium=10144

Allergy Immunotherapy Market Forecast to 2028 – Impact of COVID-19 and Global Analysis by Treatment (Subcutaneous Immunotherapy (SCIT), Sublingual Immunotherapy (SLIT)); Type of allergy (asthma, food allergy, allergic rhinitis, venom allergy, others); Distribution channel (hospital pharmacies, retail pharmacies and drugstores, online pharmacies) and geography
https://www.theinsightpartners.com/sample/TIPRE00004061/?utm_source=EinPressWire&utm_medium=10144

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Samir Joshi
Insight Partners
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The allergy treatment market worth US$35,812.33 million by 2028

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