The allergy treatment market is likely to secure a CAGR of 6.9% during the forecast period. The market is estimated to be valued at US$ 20.20 Billion in 2022 and is likely to reach figures of US$ 38.9 Billion by 2032.
Rising investment in the development of advanced technologies and growing incidences of asthma are expected to uplift the allergy treatment market growth.
An allergy is an immune system sensitivity that is increased. When an immune system is triggered by a foreign material that is normally harmless, allergy results. Animal dander, Dust mites, pollen, tree weed, cockroach, mold, and other aeroallergens are just a few allergens that can affect the immune system and this all can contribute to indoor allergy issues. Furthermore, the consumption of allergens might cause symptoms like vomiting, diarrhea, or respiratory issues in people with food allergies.
The frequency of allergy symptoms can range from moderate like rash or hives to life-threatening such as itching, runny nose, and watery or red eyes. Depending on what a person is allergic to, an allergy can have different treatments. These allergies are treated with immunotherapy, avoidance of allergens, and drugs including steroids and antihistamines.
| Attributes | Details |
|---|---|
| Allergy Treatment Market CAGR (2022 to 2032) | 6.9% |
| Allergy Treatment Market Value (2022) | US$ 20.20 Billion |
| Allergy Treatment Market Value (2032) | US$ 38.9 Billion |
Growing types of allergies and prompting manufacturing companies to develop treatments by adopting novel allergic treatments which are likely to accelerate the market. For instance, asthma & allergies are the most chronic illnesses in the USA, per a report by the American College of Allergy, Asthma & Immunology. Hence, around 50 million people suffer from allergies in America each year.
On the other hand, rising food allergies in children globally are likely to increase the adoption of allergy treatment during the forecast period. Key healthcare manufacturers have developed Subcutaneous Immunotherapy treatment, which is one of the most effective procedures used to treat patients' allergy immunotherapy, and this is likely to increase the Subcutaneous Immunotherapy treatment market size.
Additionally, the key players are engaging in Research and Development activities and are developing a new therapy to get rid of severe allergies during the forecast period. However, launching new products with the approval of key marketers is likely to boost the global allergy treatment market growth during the forecast period.
Based on region, North America dominates the market by securing the maximum share during the forecast period. The rising chronic respiratory diseases, Research and Development activities, government regulations, and rising food allergies are accelerating the market. Increasing allergy attacks in adults are likely to increase the demand for proper treatment and thereby surge the market size.
For instance, in 2020, the FDA approved its first drug to treat peanut allergy among children, called California. Peanut allergy affects the immune system in children. Hence, the adoption of Palforzia allows preventing such responses from occurring. This factor is also likely to lead the market growth. The key players are performing a major role in the market by focusing on the consumer's desire. These players are adopting several marketing tactics to upsurge the market by capturing the lion's share. Some of the marketing strategies adopted by them are mergers, agreements, collaborations, and partnerships, among others.
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The global market for allergy treatment is driven by environmental pollution, an increase in the number of patients with various types of allergies, and changing lifestyles. Furthermore, the market for allergy treatments is expanding due to a number of factors, including the growing number of patients with various different kinds of allergies, including eye allergies, skin allergies, asthma, rhinitis, etc., increasing demand for advanced therapy for allergy treatment, changes in dietary habits and rising research and development activities.
Additionally, an increase in healthcare spending, which helps to improve its infrastructure, is a key component influencing the growth rate of the market for allergy treatments. Additionally, a number of government initiatives to upgrade the healthcare system by increasing funding, which will have an additional impact on market dynamics.
North America is expected to experience a great hike in revenue during the forecast years due to developed healthcare infrastructure, growing environmental pollution, and a rise in the use of immunotherapy to treat allergies. On the other hand, due to the expanding number of allergy patients, rising disposable income, and spreading awareness of advanced immunotherapy for treating allergies Asian market is booming.
Furthermore, with promising business opportunities in the allergy treatment market in Europe, companies are focusing on extending their product portfolios and growing the adoption of immunotherapy in allergy treatment.
Principal Consultant
Some of the market players operating in the allergy treatment market are Johnson & Johnson, Allergopharma, Sanofi SA, McNeil Consumer Healthcare, Genentech Inc., GlaxoSmithKline PLC, Leti Pharma, Alerpharma S.A, Allergan, Inc., Meda Pharmaceuticals, Inc, Novartis International AG, Bausch Health Companies Inc., and others.
| Report Attributes | Details |
|---|---|
| Growth Rate | CAGR of 6.9% 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2012 to 2021 |
| Forecast Period | 2022 to 2032 |
| Qualitative Units | Revenue in USD Billion, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segment Covered | Type, Treatment, Distribution Channel, Region |
| Region Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East & Africa |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, Malaysia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Players | Johnson & Johnson; Allergopharma; Sanofi SA; McNeil Consumer Healthcare; Genentech Inc.; GlaxoSmithKline PLC; Leti Pharma; Alerpharma S.A; Allergan, Inc.; Meda Pharmaceuticals, Inc; Novartis International AG; Bausch Health Companies Inc. |
| Customization | Available Upon Request |
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The global allergy treatment market is anticipated to register a CAGR of 6.9% during the forecast period.
Johnson & Johnson, Allergopharma, Sanofi SA, McNeil Consumer Healthcare, Genentech Inc., GlaxoSmithKline PLC, Leti Pharma, Alerpharma S.A, Allergan, Inc., Meda Pharmaceuticals, Inc, Novartis International AG, Bausch Health Companies Inc. among others are some prominent allergy treatment market players.
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