The Business Research Company’s report on the Allergy Treatment Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the key drivers behind the allergy treatment market’s growth in recent years?
The growing prevalence of allergic conditions is expected to propel the growth of the allergy treatment market going forward. An allergic condition is when the immune system overreacts to an allergen, often known as a harmless substance. These treatment offers allergic therapies using nonprescription or prescription medicine that assists in identifying and avoiding various allergy triggers, therefore preventing allergic responses, alleviating symptoms, avoiding allergic severity, and improving persons’ well-being. For instance, in April 2024, according to Allergy UK, a UK-based national charity, more than 21 million people in the UK are affected by allergies, which became the most commonly reported chronic health condition in 2022, and projections indicate that by 2026, half of Europe’s population will experience at least one allergy. Therefore, the growing prevalence of allergic conditions is driving the growth of the allergy treatment market.
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How does the future projection of the allergy treatment market size compare to its historical growth?
The allergy treatment market size has grown strongly in recent years. It will grow from $23.09 billion in 2024 to $24.83 billion in 2025 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to increasing prevalence of allergies, increasing importance of self-medication, rise in healthcare spending, growing number of patients with various types of allergies
The allergy treatment market size is expected to see strong growth in the next few years. It will grow to $33.21 billion in 2029 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to patient-centric approaches, expansion of over-the-counter (OTC) allergy medications, globalization and urbanization, rising environmental pollution, growing access to health insurance. Major trends in the forecast period include improved diagnostic technologies, advancements in immunotherapy, technological innovations in drug delivery, collaborations between pharmaceutical companies, rising investments by manufacturers on the development of novel allergic treatments.
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Which key players are shaping the future of the allergy treatment market?
Major companies operating in the allergy treatment market include Pfizer Inc., Johnson and Johnson, Allergy Therapeutics PLC, F. Hoffmann-La Roche Ltd, AbbVie Inc., Novartis AG, Merck & Co. Inc., Sanofi S.A., Thermo Fisher Scientific Inc., AstraZeneca, GlaxoSmithKline PLC, Eli Lilly and Company, Boehringer Ingelheim International GmbH, Regeneron Pharmaceuticals, Bausch Health Companies Inc., Teva Pharmaceutical Industries Ltd., Almirall S.A, Akorn Operating Company LLC, Alembic Pharmaceuticals Limited, ALK-Abelló A/S, Stallergenes Greer International AG, Adamis Pharmaceuticals, HollisterStier Allergy, Leti Pharma SL
What trends will propel the growth and evolution of the allergy treatment market?
Advancements in technology are a key trend gaining popularity in the allergy treatment market. Major companies operating in the allergy treatment market are adopting new technologies to sustain their position in the market. For instance, in May 2023, Metropolis Healthcare Limited, an India-based chain of pathology labs and diagnostic centers, launched AI-powered allergy component testing based on Component Resolved Diagnostics (CRD). This component testing employs artificial intelligence (AI) to aid physicians in making informed clinical decisions and gives valuable insights into choosing and optimizing an individual’s allergic disease treatment plan. It is driven by a nanotechnology-based multiplex system that uses molecular components, can identify specific IgE antibodies against 295 different allergens using a simple blood test, and offers findings for 158 food allergens, ten contact allergens, and 127 respiratory allergens.
Which regions are expected to become dominant players in the allergy treatment market?
North America was the largest region in the allergy treatment market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the allergy treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What are the emerging key segments in the allergy treatment market, and how are they evolving?
The allergy treatment market covered in this report is segmented –
1) By Treatment Type: Anti-Allergy Drugs, Immunotherapy
2) By Type: Eye Allergy, Skin Allergy, Food Allergy, Asthma, Rhinitis, Other Types
3) By Route of Administration: Oral, Parenteral, Nasal, Other Routes of Administration
4) By Distribution Channels: Hospital Pharmacies, Retail Pharmacies, Online Retailers, Other Distribution Channels
5) By End-Users: Hospitals, Specialty Clinics, Homecare, Other End-Users
Subsegments:
1) By Anti-Allergy Drugs: Antihistamines, Corticosteroids, Leukotriene Receptor Antagonists, Decongestants
2) By Immunotherapy: Allergy Shots, Sublingual Immunotherapy (SLIT), Oral Immunotherapy
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What defines the structure and scope of the allergy treatment market?
Allergy treatment refers to the control and relief of allergic responses and symptoms caused by hypersensitivity to specific allergens. These treatments are provided to lessen or eliminate symptoms, enhance the quality of life, and prevent or minimize future allergic responses.
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