DUBLIN, Aug. 10, 2023 /PRNewswire/ — The “Global Allergy Treatment Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027” report has been added to ResearchAndMarkets.com’s offering.
The global allergy treatment market is anticipated to witness a growth of steady CAGR in the forecast period, 2023-2027.
This can be ascribed to the growing prevalence of different kinds of allergies among populations across the globe. According to a report published by Food Allergy Research & Education in 2020, estimated that around 32 million residents in the United States have food allergies.
Additionally, the growing use of over-the-counter medications and the increasing popularity of self-medication is further expected to create lucrative opportunities for the growth of global allergy treatment market. Besides, the growing popularity of immunotherapy for the treatment of different allergies is further expected to support market growth.
Furthermore, the growing geriatric population across the globe is expected to increase the demand for different allergy treatments. The elderly population has a weaker immune system and is more susceptible to different kinds of allergies, thereby increasing the demand for different treatment options for the treatment of various allergies.
Rising Pollution Levels
Increasing indoor and outdoor pollution is leading to an increase in the prevalence of asthma and different allergic disorders of the respiratory tract. In 2019, around 7.8% population in the United States had asthma. This, in turn, is expected to spur the market growth through 2027.
Additionally, air pollution can aggravate the symptoms of allergic rhinitides, such as headaches, blocked or runny noses, itchy or watery eyes, and sleep disturbances. Also, studies suggest that different eye allergies can be caused due to presence of different pollutants in indoor and outdoor air. This, in turn, is expected to increase the demand for treatments specific to the allergies caused due to pollution.
Development of Immunotherapies for the Treatment of Allergies
One of the key trends revolutionizing the allergy treatment market is the development of different types of immunotherapies. Various biotechnology & pharmaceutical companies, along with different academic & research institutions across the globe are investing in research & development activities for developing immunotherapies for the treatment of different allergies.
For instance, Aimmune Therapeutics, Inc. is developing an investigational biologic immunotherapy drug, AR101, for the treatment of peanut allergy. According, to clinicaltrials.gov, as of September 2022, there are around 364 allergy immunotherapy studies under different phases of development worldwide. This, in turn, is expected to create lucrative opportunities for the growth of global allergy treatment market.
Companies Mentioned
- Johnson & Johnson
- Sanofi SA
- GlaxoSmithKline plc.
- F. Hoffmann-La Roche AG
- Leti Pharma GmbH
- AbbVie Inc.
- Alembic Pharmaceuticals Limited
- Bausch Health Companies Inc.
- Novartis AG
- ALK-Abello AS
Market Segmentation
By Type:
- Eye Allergy
- Food Allergy
- Skin Allergy
- Asthma
- Rhinitis
- Others
By Treatment:
- Anti-Allergy Medications
- Immunotherapy
By Route of Administration:
- Oral
- Inhalers
- Intranasal
- Others
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
For more information about this report visit https://www.researchandmarkets.com/r/94sb03
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