DUBLIN, April 30, 2021 /PRNewswire/ — The «Allergy Treatment Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Allergy Type (Eye Allergy, Rhinitis, Asthma, Skin Allergy, Food Allergies, and Other Allergies); Treatment (Anti-Allergy Drugs, and Immunotherapy), and Geography» report has been added to ResearchAndMarkets.com’s offering.
The global allergy treatment market is expected to reach US$ 35,812.33 million by 2028 from US$ 21,160.92 million in 2020; it is estimated to grow at a CAGR of 6.9% from 2020 to 2028.
Increasing adoption of immunotherapy in allergy treatment and developments in food allergy treatments are the factors driving the global allergy treatment market growth. However, the lack of awareness about allergies and their treatments are hindering the market growth.
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.
Immunotherapy is offered in two different types – allergy shots and sublingual immunotherapy (SLIT). Allergy shots are the extracts of allergens that are administered with increasing dosage; they are effective for allergies caused by asthma, pets, dust, pollen, bees, and other stinging insects. Generally, SLIT tablets are administered daily by keeping them under the tongue; this type is an effective treatment option for nasal allergies and asthma.
The administration of repetitive dosage of allergen makes patients less sensitive to that allergen, thus providing relief from allergic symptoms. Immunotherapy has shown positive and long-term benefits in allergic patients. Moreover, it is suitable for self-administration and medicine usage in homecare settings. Therefore, immunotherapy has emerged as a safe and effective alternative subcutaneous route for both chronic and recurrent allergies.
Various studies have shown that immunotherapy reduces allergic symptoms by 60-65% among the patients who have completed their dosages of allergen. According to a study published in Annals of Allergy, Asthma and Immunology Journal in February 2016, ~70% of allergy patients do not need medications for their allergic reactions. The study also stated that immunotherapy is effective among children as well as elderly population. Thus, the increasing adoption of immunotherapy in the treatment of allergies is fueling the allergy treatment market growth.
Allergy Type Insights
Based on Rhinitis, 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 in the market, and it is expected continue to be the largest shareholder in the market by 2028.
With the significantly growing prevalence of rhinitis, probably due to frequent climatic and environmental changes, the demand for treatment groups such as decongestants, antihistamines, and topical/oral steroids is also increasing worldwide.
Based on treatment, the global allergy treatment market is segmented into anti-allergy drugs and immunotherapy. The anti-allergy drugs segment held a larger market share in 2020, and it is further expected to dominate the market by 2028. These drugs are available in forms such as tablets, nasal sprays, inhalers, liquid, ointments, injections, and eyedrops.
Key Topics Covered:
1.1 Scope of the Study
1.2 Report Guidance
1.3 Market Segmentation
2. Allergy Treatment Market – Key Takeaways
3. Research Methodology
4. Global Allergy Treatment Market- Market Landscape
4.2 PEST Analysis
4.3 Expert Opinion
4.4 List of Companies, by Region
5. Allergy Treatment Market – Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Increasing Adoption of Immunotherapy in Allergy Treatment
5.1.2 Developments in Food Allergy Treatments
5.2 Key Market Restraints
5.2.1 Lack of Awareness About Allergy Treatments
5.3 Key Market Opportunities
5.3.1 Growing Number of Allergy-Related Research Projects and Programs
5.4 Future Trends
5.4.1 Development and Approvals of Innovative Medicines such as Biologics for Treating Allergies and Asthma
5.5 Impact Analysis
6. Allergy Treatment Market – Global Analysis
6.1 Global Allergy Treatment Marker Revenue Forecast and Analysis
6.2 Global Allergy Treatment Market, By Geography – Forecast and Analysis
6.3 Market Positioning of Key Players
7. Allergy Treatment Market Analysis- by Allergy Type
7.1 Eye Allergy
7.4 Skin Allergy
7.5 Food Allergies
7.6 Other Allergies
8. Allergy Treatment Market Analysis- by Treatment
8.2 Allergy Treatment Market, by Treatment 2020 & 2028 (%)
8.3 Anti-Allergy Drugs
8.3.2 Anti-Allergy Drugs: Allergy Treatment Market – Revenue and Forecast to 2028 (US$ Million)
8.4.2 Immunotherapy: Allergy Treatment Market – Revenue and Forecast to 2028 (US$ Million)
8.4.3 Sub-cutaneous Immunotherapy (SCIT)
8.4.4 Sub-Lingual Immunotherapy (SLIT)
9. Allergy Treatment Market – Geographical Analysis
10. Impact of COVID-19 Pandemic on Global Allergy Treatment Market
11. Allergy Treatment Market- Industry Landscape
11.2 Growth Strategies Done by the Companies in the Market, (%)
11.3 Organic Developments
11.4 Inorganic Developments
12. Company Profiles
- Johnson and Johnson Services, Inc.
- AbbVie Inc. (Allergan plc)
- Pfizer Inc.
- ALK-Abello A/S
- Allergy Therapeutics
- Stallergenes Greer
- GlaxoSmithKline plc
- Dermapharm Holding
For more information about this report visit https://www.researchandmarkets.com/r/ruw2f3
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
View original content:http://www.prnewswire.com/news-releases/global-allergy-treatment-markets-2020-2021–forecast-to-2028-increasing-adoption-of-immunotherapy-in-allergy-treatment–developments-in-food-allergy-treatments-301281167.html
SOURCE Research and Markets