The allergy treatment market size is projected to reach US$ 33.5 billion by 2031 from US$ 20.2 billion in 2023. The market is expected to register a CAGR of 7.8% during 2023–2031. Rising Research & Development (R&D) activities are likely to remain key trends in the market.
Allergy Treatment Market Analysis
Rising R&D activities for allergy treatment to develop innovative drugs is likely to remain as a new market trend in the coming years. Despite several allergic medicines in the market, still many patients with respiratory allergies and asthma are not adequately controlled or are insufficiently treated with symptomatic therapy. For example, several respiratory allergies are a risk of developing asthma. Therefore, several top manufacturers are designing clinical trial programs for allergies. HAL Allergy B.V.'s "Allergen Immunotherapies" for respiratory allergies for a clinical trial is an example. Therefore, rising R&D activities will result in the development of novel anti-allergic drugs will account considerable market growth during 2021-2031.
Allergy Treatment Market Overview
According to the Asthma Allergy Clinic report, new data published by the World Allergy Organization (WAO) reveals that 14% of people have asthma, with 20% suffering from allergic rhinitis (AR), which results in IgE-mediated inflammation of the nasal mucosa. Currently, about 20-30% of the people in India have one or more allergic diseases, and the prevalence will rise in the coming years. Therefore, rising cases of allergies will accelerate demand for antiallergic drugs in the coming decade.
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Allergy Treatment Market: Strategic Insights
Market Size Value in US$ 21,160.92 million in 2020 Market Size Value by US$ 35,812.33 million by 2028 Growth rate CAGR of 6.9% from 2021 to 2028. Forecast Period 2021-2028 Base Year 2021
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Allergy Treatment Market: Strategic Insights
| Market Size Value in | US$ 21,160.92 million in 2020 |
| Market Size Value by | US$ 35,812.33 million by 2028 |
| Growth rate | CAGR of 6.9% from 2021 to 2028. |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Allergy Treatment Market Drivers and Opportunities
Rising Allergy Cases Accelerate Demand for Anti-Allergic Drugs to Favor Market
According to the American Academy of Pediatrics report, the most common type of allergy is Hay Fever (allergic rhinitis), which accounts for the high cost of treatment. For example, the direct and indirect costs exceed US$7 billion annually for allergy treatment. Therefore, good allergy treatment is based on medical history, results of allergy tests, and with symptoms mild or severe. Additionally, immunotherapy is an effective treatment option for some allergy patients. There are two common types of immunotherapy. These include allergy shots and sublingual immunotherapy (SLIT). Allergy shots include giving injection of allergens with; an increasing dose over time. Also, the person progressively less sensitive to that allergen as these shots can work well for some people with allergies to pollen, pets, dust, bees, and other stinging insects, as well as asthma. Therefore, rising allergy cases accelerate demand for anti-allergic drugs acting as the major drivers for global allergy treatment market share.
New Drug Approvals for Allergy Treatment Provide Lucrative Market Opportunity
New drug approvals to treat allergy treatments will provide lucrative market opportunity for the allergy treatment market. In June 2020, Cadila Pharmaceuticals Limited announced the launching of "Bilastine Syrup (30ml)" and Bilastine Tablets of 20mg strength. Additionally, in March 2022, Perrigo Company plc announced receiving final approval from the USFDA for over-the-counter (OTC) use of "Nasonex® 24HR Allergy (mometasone furoate monohydrate 50mcg)". The approval marks the first branded Rx-to-OTC switch for the company for "Nasonex" to enter the OTC marketplace.
Allergy Treatment Market Report Segmentation Analysis
Key segments that contributed to the derivation of the allergy treatment market analysis are type, cause, disorder type, category, and end user.
- Based on allergy type, the allergy treatment market is segmented as eye allergies, rhinitis, asthma, skin allergies, food allergies, and others. The rhinitis segment held a larger market share in 2023.
- By treatment, the market is segmented into anti-allergy drugs and immunotherapies. The anti-allergy drugs segment held the largest share of the market in 2023.
Allergy Treatment Market Share Analysis by Geography
The geographic scope of the Allergy Treatment market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the market. In North America region, the US accounts largest share for allergy treatment market. Presence of top manufacturers in the region and their innovative anti-allergic drugs having effective pharmacological activity are the factors contributing to the dominance of the market. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.
Allergy Treatment Market Report Scope
Allergy Treatment Market News and Recent Developments
The Allergy Treatment market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Allergy Treatment market are listed below:
- In February 2024, Novartis announced US Food and Drug Administration (USFDA) approval of "Xolair (omalizumab)". The newly launched product is used for the reduction of allergic reactions, including anaphylaxis occurring with accidental exposure to one or more foods in adult and paediatric patients aged 1 year and older with IgE-mediated food allergy. (Source: Novartis, Company Website, February 2024)
Allergy Treatment Market Report Coverage and Deliverables
The “Allergy Treatment Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Allergy treatment market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Allergy Treatment market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Allergy Treatment market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Allergy Treatment market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Allergy Type and Treatment
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
North America region dominated the allergy treatment market in 2023.
Rising allergy cases accelerate demand for anti-allergic drugs to favor market is one of the most influential factors responsible for market growth.
Rising Research & Development (R&D) activities to remain as a key trend for allergy treatment market.
Johnson and Johnson Services, Inc., Sanofi, AbbVie, Inc. (Allergan plc), Pfizer, Inc., LETIPharma, ALK-Abello A/S, Allergy Therapeutics, Stallergenes Greer, GSK, and Dermapharm Holdings are the key players in the allergy treatment market.
The estimated value of allergy treatment market accounted US$ 33.5 billion in 2031.
The CAGR for allergy treatment accounted 7.8% during 2023-2031.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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