The allergies are hypersensitive responses from human immune system to the substance that are foreign to the body. Dust mite, animal dander, cockroach, pollens, mold, food substances, and metal and element particles are among the common allergens. While allergies can disturb the normal functioning of organs, severe allergies can be life threatening; for example, asthma leads to poor lung functioning. Although the most effective method of gaining protection against allergies is to avoid being exposed to the known allergens, medications such as steroids and antihistamines are available for treating them.
The allergy treatment market is segmented on the basis of allergy type, treatment, and geography. By geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South and Central America. The report offers insights and in-depth analysis of the allergy treatment market, emphasizing on parameters such as market trends, technological advancements, and market dynamics along with the analysis of competitive landscape of world’s leading market players.
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A few prominent players operating in the allergy treatment market are Johnson and Johnson Services, Inc.; Sanofi; AbbVie Inc. (Allergan plc); Pfizer Inc.; LETIPharma; ALK-Abelló A/S; Allergy Therapeutics; Stallergenes Greer; GlaxoSmithKline plc; and Dermapharm Holding. Market players are introducing new and innovative products and services to sustain their position in the allergy treatment market.
For instance, in September 2019, Allergy Therapeutics, a biotechnology company, announced investments in exploring the applications of virus-like particle (VLP) technology in the field of allergy immunotherapy. It has entered into an exclusive license agreement with Saiba and DeepVax to use their patented VLP technology platform in the development and commercialization of vaccines targeting solid cancer tumors, atopic dermatitis, asthma, and psoriasis.
Based on allergy type, the global allergy treatment market is segmented into eye allergy, rhinitis, asthma, skin allergy, food allergies, and other allergies. In 2020, the rhinitis segment held the largest share of the market; it is also expected to be a leading shareholder in the market by 2028. The market growth is mainly attributed to the growing prevalence of rhinitis worldwide, which is likely to continue in the coming years due to constant climatic and environmental changes, thereby boosting the demand for decongestants, antihistamines, and topical/oral steroids worldwide.
The COVID-19 pandemic is estimated to have a positive impact on the allergy treatment market. Majority of the pharmaceutical companies across the world are engaged in the development of vaccines against this disease. Moreover, allergy and asthma exacerbations are frequently triggered by viral infections, including coronaviruses. Thus, telehealth can be central in delivering allergy/immunology services within a risk-stratified context of the SARS-CoV-2 pandemic which is anticipated to have a positive impact on the other segments of the market in the coming months. However, disruptions in the supply chain caused due to the halt in global operations are hindering the market growth.
Allergy Treatment – Market Segmentation
By Allergy Type
- Eye Allergy
- Skin Allergy
- Food Allergies
- Other Allergies
- Anti-Allergy Drugs
- Other Drugs
- Sub-cutaneous Immunotherapy (SCIT)
- Sub-Lingual Immunotherapy (SLIT)
Key questions answered
- Who are the Leading key players and what are their Key Business plans in the Allergy Treatment market?
- What are the key concerns of the five forces analysis of the Allergy Treatment market?
- What are different prospects and threats faced by the dealers in the Allergy Treatment market?
- What possible measures players are taking to overcome and stabilize the situation?
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