An allergy is defined as a reaction of hypersensitivity to several foreign substances by the immune system. The substances that trigger an allergy are called allergens. Examples include pollens, dust mites, molds, pet dander, certain foods, and others. It is said that patients prone to allergies are allergic or atopic.
The market for allergy treatment is expected to grow at an accelerated pace due to the increased focus on new treatment developments for allergy-specific drugs, the advent of immunotherapy and the increase in the prevalence of allergies worldwide.
Depending on the type, the rhinitis segment generated the highest income in 2017 and is expected to maintain this domain throughout the forecast period. This is attributed to the higher prevalence of allergic rhinitis worldwide. For example, according to the European Academy of Allergy and Clinical Immunology (EAACI), around 400 million patients suffer from rhinitis. However, the food allergy segment is expected to register the highest growth rate during the forecast period.
North America was the leading revenue contributor to the global market in 2017, owing to increase in healthcare investments by manufacturers, the surge in R&D expenditure for the development of allergy treatment, and growth in the prevalence of food allergies. Asia-Pacific is expected to witness the highest growth rate throughout the forecast period, due to increase in the prevalence of allergic asthma owing to rise in pollution, the surge in internet penetration, and rise in awareness about allergies.
Key Findings of the Allergy Treatment Market :
- Based on the type, the rhinitis and asthma segments dominated the global allergy treatment market in 2017 and are expected to maintain this trend during the forecast period.
- Based on treatment, the immunotherapy segment is expected to register the highest CAGR of 8.5% from 2018 to 2025.
- The U.S. generated the highest revenue in the global allergy treatment market in 2017, accounting for more than half of the market in North America.
- Asia-Pacific was the highest contributor in the allergy treatment market in 2017 and is anticipated to experience rapid growth during the forecast period.
Key Market Players:
The global allergy treatment market report includes various leading companies in the market such as GlaxoSmithKline, Allergopharma, Allergan, Inc., Schering-Plough Corporation, Collegium Pharmaceutical, Inc., Allergy Therapeutics, Allergon, Genentech Inc., McNeil Consumer Healthcare, and Meda Pharmaceuticals, Inc. The market players have adopted several strategies including partnerships, collaboration, mergers & acquisitions, and new product launch to maintain its leadership in the market.