According to a new report published by Allied Market Research, titled, Allergy Treatment Market by Type, Treatment, Dosage Form, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2018 - 2025, the global allergy treatment market was valued at $24,653 million in 2017 and is projected to reach $40,360 million by 2025, growing at a CAGR of 6.3% from 2018 to 2025. Based on type, the rhinitis and asthma segments accounted for more than half of the total market share in 2017.
An allergy is defined as a hypersensitive reaction to various foreign substances by the immune system. The substances that trigger an allergy are called allergens. Examples include pollens, dust mite, molds, pet dander, certain foods, and others. Patients prone to allergies are said to be allergic or atopic. The allergy treatment market is anticipated to grow at a fast pace owing to the rise in focus on new treatment developments for allergy specific drugs, advent of immunotherapy, and increase in prevalence of allergies across the globe.
Based on type, the rhinitis segment generated the highest revenue in 2017 and is expected to maintain this dominance throughout the forecast period. This is attributed to the increased prevalence of allergic rhinitis across the globe. For instance, according to the European Academy of Allergy and Clinical Immunology (EAACI), around 400 million patients suffer from rhinitis. However, the food allergy segment is expected to register highest growth rate during the forecast period.
Key Findings of the Allergy Treatment Market :
- Based on type, the rhinitis and asthma segments dominated the global allergy treatment market in 2017 and are expected to maintain this trend during the forecast period.
- Based on treatment, the immunotherapy segment is expected to register the highest CAGR of 8.5% from 2018 to 2025.
- U.S. generated the highest revenue in the global allergy treatment market in 2017, accounting for more than half of the market in North America.
- Asia-Pacific was the highest contributor in the allergy treatment market in 2017 and is anticipated to experience rapid growth during the forecast period.
North America was the leading revenue contributor to the global market in 2017, owing to increase in healthcare investments by manufacturers, surge in R&D expenditure for the development of allergy treatment, and growth in prevalence of food allergies. Asia-Pacific is expected to witness the highest growth rate throughout the forecast period, due to increase in prevalence of allergic asthma owing to rise in pollution, surge in internet penetration, and rise in awareness about allergies.
The report provides an extensive competitive analysis and profiles of the key market players, such as GlaxoSmithKline, ALK-Abell A/S, Sallergenes Greer, Allergy Therapeutics, Sanofi SA, Johnson & Johnson, Merck Co. In, Merck KGaA, F. Hoffmann-La Roche AG, and Allergan plc. The other players in the value chain (not included in the report) include Sunovion Pharmaceuticals Inc., Teva Pharmaceuticals, HAL Allergy Group, Collegium Pharmaceutical, Inc., Procter & Gamble, Circassia, and Novartis AG.
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