The Allergy Treatment Market is Prospering Owing to the Rising Prevalence of Allergic Diseases all Over the World
- Himanshu Patni
- December 3, 2021
- HEALTHCARE, NEWS
- Allergy Treatment Market, Allergy Treatment Market growth, Allergy Treatment Market share, Allergy Treatment Market size
- 0 Comments
Allergy Treatment Market is expected to exceed the market valuation of more than US$ 30 billion by 2027 expanding at a reasonable CAGR of 7 % during the forecast period (2021-2027). The most common triggers for anaphylaxis, a life-threatening reaction, are food, medicines, and insect stings. Also, medicines lead to the most allergy-related deaths all over the world. According to the SingleCare survey in 2021, 7% of participants report an allergy to aspirin, ibuprofen, and other NSAIDs.
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The demand for the allergy treatment market is burgeoning on account of the rise in the prevalence of allergic diseases and the surge in self-medication in consumers. Also, the high preference towards over-the-counter drugs for allergy treatment intensifies the market growth. These OTC drugs are cheaper and more accessible to many patients, which directly increases the procurement of these drugs. According to the AAFA food allergies affected around 32 million people in the United States in 2019. In addition, the rise in R&D initiatives, high awareness amongst healthcare professionals, and patients regarding the immunotherapy option for allergy treatment also drives the market growth.
Based on Type, the market is fragmented into Eye Allergy, Skin Allergy, Food Allergy, Asthma, Rhinitis, and Others. The Rhinitis segment dominated the market in 2020 and is expected to grow at lucrative growth owing to the rising prevalence of allergic rhinitis all over the world. Globally, 339 million are suffering from asthma, 200 to 250 million have a food allergy and 400 million have rhinitis.
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Based on Distribution Channels, the market is fragmented into Hospital Pharmacies, Retail Pharmacies, Online Retailers, and Others. The Hospital Pharmacies segment dominated the market in 2020 owing to the surging number of hospitals and infectious diseases worldwide.
Based on Treatment Type, the market is fragmented into Anti-Allergy Drugs and Immunotherapy. The Anti-Allergy Drugs segment dominated the market in 2020 and is expected to grow at lucrative growth during the forecasted period owing to the convenience of self-administration, compactness, and easy manufacturing of oral dosage forms.
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For a better understanding of the market adoption of Allergy Treatment, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America is expected to dominate the Allergy Treatment market on account of a considerable rise in various types of allergies like eye allergy, respiratory allergy, and skin allergy. Some of the major players operating in the market include BioMérieux, Danaher Corporation, GlaxoSmithKline plc, Hitachi Chemical Diagnostics, Inc., Merck & Co., Inc., Omega Diagnostics Group PLC, Siemens Healthcare, Thermo Fisher Scientific, Inc., Genetech Inc., and Allergan Plc. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions.
Global Allergy Treatment Market Segmentation
Market Insight, by Type
- Eye Allergy
- Skin Allergy
- Food Allergy
Market Insight, by Distribution Channels
- Hospital Pharmacies
- Retail Pharmacies
- Online Retailers
Market Insight, by Treatment Type
- Anti-Allergy Drugs
Market Insight, by Dosage Form
Market Insight, by Region
- North America Allergy Treatment Market
- United States
- Rest of North America
- Europe Allergy Treatment Market
- United Kingdom
- Rest of Europe
- Asia-Pacific Allergy Treatment Market
- Rest of Asia-Pacific
- Rest of World Allergy Treatment Market
Top Company Profiles
- Danaher Corporation
- GlaxoSmithKline plc
- Hitachi Chemical Diagnostics, Inc.
- Merck & Co., Inc.
- Omega Diagnostics Group PLC
- Siemens Healthcare
- Thermo Fisher Scientific, Inc.
- Genetech Inc.
- Allergan Plc.