Global Allergy Treatment Market to Be Driven by Growing Geriatric Population During Forecast Period 2021-2026 – Bloomingprairieonline
Expert Market Research’s new report titled ‘Global Allergy Treatment Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global Allergy Treatment Market, assessing the market based on its segments such as market by type, processing and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2016-2026)
- Historical market size (2020): $17.9 billion
- Projected CAGR (2021-2026): 5%
- Forecasted market size (2026): 26.12 billion USD
As the prevalence of asthma in children, the elderly and adults is increasing due to higher pollution levels, the demand for anti-allergy drugs and immunotherapy is increasing. Airway remodeling is a dreadful condition that can be caused by an unethical approach to asthma or a lack of knowledge about allergies.
Industry definition and major segments
Allergy treatment is the process of treating an allergy with allergy medications or injections, or by helping a person avoid a specific substance to avoid later reactions. Allergy treatment may involve antihistamines and allergen prevention.
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The Allergy Treatment Market, based on Type, can be segmented into:
- Eye allergy
- skin allergy
- Food allergy
On the basis of processing, the market can be categorized into:
- Anti-allergic drugs
Among these, the anti-allergy drugs segment is divided into corticosteroids, antihistamines, decongestants, and other drugs. The immunotherapy segment is further classified into subcutaneous immunotherapy (SCIT) and sublingual immunotherapy (SLIT).
Regional markets include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The increased use of antihistamines and other antiallergic drugs, which are particularly useful in treating people who show allergic reactions to pollen or other allergens. Antihistamines are also used to treat various illnesses, including gastrointestinal problems, colds, and anxiety. Moreover, the growing demand for immunotherapy is expected to boost the market as this type of treatment is suitable for long-term use. Demand for immunotherapy is expected to increase as the prevalence of allergic rhinitis, allergic asthma, conjunctivitis, and biting insect allergy, among other disorders, increases. The growing need for allergy control due to the region’s aging population is likely to be a major driver for the growth of the allergy treatment industry. The growth in healthcare expenditure along with the development of clinics and hospitals in the region is contributing to the growth of the market. Also, in countries like the United States and Canada, the availability of skilled doctors specializing in asthma and eye allergy treatments is expected to drive the market expansion in the coming years.
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Main market players
The major market players are AbbVie Inc., GlaxoSmithKline PLC, F. Hoffmann-La Roche Ltd., Johnson & Johnson Services, Inc., Sanofi SA, LETI Pharma, SLU and among others.
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