Overview and Scope
Allergy treatment refers to the control and relief of allergic responses and symptoms caused by hypersensitivity to specific allergens. These treatments are provided to lessen or eliminate symptoms, enhance the quality of life, and prevent or minimize future allergic responses.
Sizing and Forecast
The allergy treatment market size has grown strongly in recent years. It will grow from $21.19 billion in 2023 to $22.94 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to increasing prevalence of allergies, increasing importance of self-medication, rise in healthcare spending, growing number of patients with various types of allergies.
The allergy treatment market size is expected to see strong growth in the next few years. It will grow to $30.25 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to patient-centric approaches, expansion of over-the-counter (otc) allergy medications, globalization and urbanization, rising environmental pollution, growing access to health insurance. Major trends in the forecast period include improved diagnostic technologies, advancements in immunotherapy, technological innovations in drug delivery, collaborations between pharmaceutical companies, rising investments by manufacturers on the development of novel allergic treatments.
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Segmentation & Regional Insights
The allergy treatment market covered in this report is segmented –
1) By Treatment Type: Anti-Allergy Drugs, Immunotherapy
2) By Type: Eye Allergy, Skin Allergy, Food Allergy, Asthma, Rhinitis, Other Types
3) By Route of Administration: Oral, Parenteral, Nasal, Other Routes of Administration
4) By Distribution Channels: Hospital Pharmacies, Retail Pharmacies, Online Retailers, Other Distribution Channels
5) By End-Users: Hospitals, Specialty Clinics, Homecare, Other End-Users
North America was the largest region in the allergy treatment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the allergy treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing prevalence of allergic conditions is expected to propel the growth of the allergy treatment market going forward. An allergic condition is when the immune system overreacts to an allergen, often known as a harmless substance. These treatment offers allergic therapies using nonprescription or prescription medicine that assists in identifying and avoiding various allergy triggers, therefore preventing allergic responses, alleviating symptoms, avoiding allergic severity, and improving persons’ well-being. For instance, in January 2023, according to the Centers for Diseases Control and Prevention (CDC), a US-based federal agency for public health, over one-third of American adults and more than one-fourth of American children had a seasonal allergy, eczema, or food allergy in 2021. Further, approximately 6% of adults and children in the United States have a food allergy. Therefore, the growing prevalence of allergic conditions is driving the growth of the allergy treatment market.
Key Industry Players
Major companies operating in the allergy treatment market report are Pfizer Inc., Johnson and Johnson, Allergy Therapeutics PLC, F. Hoffmann-La Roche Ltd, AbbVie Inc., Novartis AG, Merck & Co. Inc., Sanofi S.A., Thermo Fisher Scientific Inc., AstraZeneca, GlaxoSmithKline PLC, Eli Lilly and Company, Boehringer Ingelheim International GmbH, Regeneron Pharmaceuticals, Bausch Health Companies Inc., Teva Pharmaceutical Industries Ltd., Almirall S.A, Akorn Operating Company LLC, Alembic Pharmaceuticals Limited, ALK-Abelló A/S, Stallergenes Greer International AG, Adamis Pharmaceuticals, HollisterStier Allergy, Leti Pharma SL
The allergy treatment market report table of contents includes:
- Executive Summary
- Allergy Treatment Market Characteristics
- Allergy Treatment Market Trends And Strategies
- Allergy Treatment Market – Macro Economic Scenario
- Global Allergy Treatment Market Size and Growth
- Allergy Treatment Market Segmentation
- Allergy Treatment Market Regional And Country Analysis
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- Key Mergers And Acquisitions In The Allergy Treatment Market
- Allergy Treatment Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Allergy Treatment Market, Segmentation By Treatment Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Allergy Treatment Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Allergy Treatment Market, Segmentation By Route of Administration, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 76: Pfizer Inc. Financial Performance
Table 77: Johnson and Johnson Financial Performance
Table 78: Allergy Therapeutics PLC Financial Performance
Table 79: F. Hoffmann-La Roche Ltd Financial Performance
Table 80: AbbVie Inc. Financial Performance
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