Allergy Treatment Market Size and Share [2022-2029] |
Pune, India, May 17, 2022 (GLOBE NEWSWIRE) — The world Allergy Treatment Market Size is expected to increase dramatically due to the increasing prevalence of allergic conditions. Additionally, the rising awareness of self-medication could aid the growth of the market. Fortune Business Insight™ provides this information in its report entitled “Allergy treatment market share, 2022-2029.”
North America is expected to dominate the market, accounting for the highest share, and it is expected to maintain this trend throughout the forecast period. According to an article published in the JAMA Network Open Journal, about 10.8% were allergic to food in the survey, while nearly 19% of adults thought they were allergic to food.
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Drivers and Restrictions
New product development to support industry growth
- The development of new drugs and treatment procedures is expected to drive demand for allergy treatment. Increased investment in research and development can boost product adoption. Manufacturers launch new products to boost their brand presence and drive product adoption.
- The incorporation of better materials and the increasing development of innovative drugs can boost the adoption of allergy treatment procedures. These factors may boost the growth of the allergy treatment market.
- Significant increase in the prevalence of allergic diseases, increase in preferences for over-the-counter drugs for the treatment of allergies, and increase in self-medication among consumers. However, increased use of biosimilars and safety and efficacy issues regarding side effects associated with vigorous consumption of anti-allergy drugs are expected to hamper the growth of the allergy treatment market.
Reduced processing procedures to hamper market growth
This market is expected to be negatively affected during the COVID-19 pandemic owing to the increase in COVID patient cases. This factor has led to a reduction in treatment procedures. Additionally, the lack of medical equipment and resources required for the production of drugs is expected to hamper the growth of the industry. However, adopting smaller capacities, part-time shifts and automated production machinery can allow manufacturers to recoup costs.
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The report provides a detailed analysis of major segments and latest market trends. It discusses in detail the driving and restraining factors and the impact of COVID-19 on the market. Moreover, it examines the regional developments and the strategies undertaken by the major market players.
Leading companies are investing heavily in research and development to boost their brand image
Major companies operating in the market are investing heavily in research and development activities to enhance the efficacy of drugs and improve their market position. Furthermore, companies are adopting automated production machinery to reduce labor costs, resource consumption, improve productivity, improve operational efficiency, and meet organizational goals. Additionally, adopting expansions can enable organizations to improve their brand presence and increase consumers. Moreover, companies are adopting mergers, acquisitions and collaborations to strengthen their position in the global market.
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By Type, the allergy treatment market is segmented into Drug, Food, Insect, Skin, Dust, Pet, Pollen, Latex, Pollutant Allergy, Mold Allergy, and Others. According to the treatment, it is divided into drugs and immunotherapy. Depending on the route of administration, it is classified into oral, parenteral, nasal and others. Geographically, it is clubbed in North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa.
Growing development of food allergy treatment to support industry growth in North America
North America is expected to dominate the allergy treatment market share owing to the increasing development of food allergy treatment. Additionally, the growing adoption of immunotherapy is expected to bolster the uptake of allergy treatment. These factors can propel the development of the market in the region.
Europe is expected to be the second largest market share due to innovations in sublingual dosing procedures. Additionally, the increasing prevalence of allergic conditions may promote the development of the market.
In Asia-Pacific, rising disposable income is expected to drive uptake of allergy treatments. Additionally, the growing development of healthcare infrastructure may propel the development of the market.
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Allergy Treatment Market Segmentation:
- Drug allergy
- Food allergy
- Insect allergy
- skin allergy
- Dust allergy
- Animal allergy
- Pollen allergy
- latex allergy
- Others (allergy to pollutants, allergy to molds)
- Mast cell stabilizers
- Self-injectable epinephrine
- Others (decongestants, leukotriene inhibitors)
- 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 and Africa (South Africa, GCC and Rest of Middle East and Africa)
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List of Key Players Profiled in the Allergy Treatment Market Report
- GlaxoSmithKline plc. (Brentford, UK)
- Stallergenes Greer (London, UK)
- Sanofi (Paris, France)
- Johnson & Johnson Services, Inc. (USA)
- Circassia (Oxford, UK)
- F. Hoffman-La Roche SA (Basel, Switzerland)
- AbbVie Inc. (North Chicago, IL, USA)
- ALK (Hørsholm, Denmark)
- Allergy Therapeutics (UK)
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