Allergy Treatment Market: Growing Incidences of Tobacco-induced Allergies to Drive the Demand
The demand in the global allergy treatment market is projected to increment at a healthy CAGR of 5.5% during the forecast period of 2017 to 2025, gaining traction from a number of factors such as presence of vast unmet medical needs in various emerging economies, growing prevalence of asthma and allergic rhinitis along with high consumption of tobacco, various novel molecules in pipeline, and upsurge in allergies as a result of environmental pollution. While high cost of immunotherapy and increasing preference of complementary and alternative medicines (CAM) are still hindering the market from attaining its true potential, the vendors of this market will gain new opportunities from the advent of SPIRE, emergence of sublingual immunotherapy (SLIT), and identification of new allergen targets.
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Based on allergy type, the report segments the global allergy treatment market into inhaled allergy, food allergy, and drug allergy, and foresees a considerable chunk of demand coming for inhaled allergy segment throughout the forecast period. Also known as respiratory allergy, allergic rhinitis and asthma are some of the most common inhaled allergies that affect most of the population across the globe. As per the estimation of the World Allergy Organization (WAO), in 2015, nearly 500 million people were affected by allergic rhinitis. Increasing CO2 levels and changing climate as a result of environmental pollution are pushing inhaled allergy segment, currently required to cater to about a billion people across the world.
Treatment-wise, the global allergy treatment market is categorized into anti-allergy drugs and immunotherapy. While anti-allergy drugs currently serve the maximum demand, progress in the field of immunotherapy is expected to escalate its demand too during the forecast period. Based on distribution channel, retail pharmacies and drug stores segment served the maximum demand, and is expected to sustain its position throughout the forecast period, although online retail are also gaining popularity.
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Out of five regions analyzed by this report for their potential for allergy treatment market, viz. North America, Asia Pacific, Europe, Latin America, and The Middle East and Africa, North America accounted for the maximum demand in 2016, in terms of value. A number of pharmaceutical companies in this region are focused on the development of new and advanced allergy treatment, such as SLIT. Prevalence of various types of allergies in this region, robust healthcare infrastructure in developed countries such as the U.S. and Canada, government support for R&D activities, and flourishing life science market are some of the key factors driving the allergy treatment market in the region of North America. As per the estimation of the American Academy of Allergy Asthma and Immunology, nearly 27.2 million people in the country of the U.S. suffered from allergic rhinitis in 2015, whereas about 26 million people had asthma. This substantial demand is the expected to maintain North America are most lucrative region for the stockholders of the global allergy treatment market.
ALK-Abelló A/S, GlaxoSmithKline plc., and Stallergenes Greer are three prominent companies currently accounting for the maximum share in the global allergy treatment market, dominating via their impressive product portfolio and widespread geographical outreach. Some of the other prominent players operating in the global allergy treatment market are Meda Pharmaceuticals Inc., Allergy Therapeutics, Sunovion Pharmaceuticals Inc., Allergon AB, Allergan, HAL Allergy Group, and Teva Pharmaceutical.
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