An allergic reaction is an immune system response to a substance that doesn’t bother the majority of other people. When a person responds to environmental elements that are typically safe for most people, allergies might result. Allergens are these compounds, which can be found in some medications, dust mites, foods, pollen, ticks, pets, moulds, insects. The severity of allergy symptoms can range from moderate (rash or hives), to life-threatening (runny nose, itching, and watery/red eyes). Depending on what a person is allergic to, an allergy might have different treatments. Pharmacies sell medications without a prescription for those with minor allergies. Drugs of the antihistamine family are frequently used to treat allergies. Decongestants are a short-term therapy option. Creams and lotions are used to treat skin that has become red and itchy due to an allergic response. The inflammation brought on by an allergic response can be lessened using steroids. Natural therapies, over-the-counter (OTC) medications, and prescription medications can all be used to manage seasonal allergies.
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The market for allergy medications was valued at US$ 17,773.4 Mn in 2021 and is anticipated to grow at a CAGR of 6.4% from 2022 to 2028 to reach US$ 27,347.4 Mn.
In terms of volume, North America accounted for 38.5% of the global market for allergy treatments in 2020, followed by Europe and Asia Pacific, in that order.
An exclusive licencing contract for the commercialization of Glenmark Pharmaceuticals’ ground-breaking nasal spray RYALTRIS, which is currently being evaluated by Health Canada, was signed in March 2021 by Glenmark Pharmaceuticals and Bausch Health Companies Inc.
The release of three new over-the-counter (OTC) Refresh Relieva medications was announced by Allergan PLC in October 2019. Refresh Relieva, Refresh Relieva for Contacts, and Refresh Relieva PF multidose.
Dr Reddy’s Laboratories introduced levocetirizine dihydrochloride tablets, a treatment for allergies, in the United States in March 2018. According to Dr Reddy’s Laboratories, the US Food and Drug Administration has authorised its “launch of levocetirizine dihydrochloride tablets USP, 5 mg, an over-the-counter therapeutic comparable generic form of UCB’s Xyzal allergy pills” (FDA).
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During the projected period, a high prevalence of allergic disorders worldwide is anticipated to fuel market expansion for allergy treatments. The most prevalent allergic illnesses affecting children today include atopic dermatitis, food allergies, allergic rhinitis, and asthma. For instance, nearly 50 million Americans encounter various sorts of allergies each year, according to the Asthma and Allergy Foundation of America (AAFA). The sixth most common cause of chronic disease in the United States is allergies. One of the most prevalent health problems impacting kids in the US is allergies.
Regulatory agencies often approving new medications is anticipated to fuel market expansion for allergy treatments globally over the course of the projected period. Due to the rising frequency of allergic disorders worldwide, there is a growing need for safe and efficient treatments. For instance, the Food and Drug Administration (FDA) authorised Palforzia in January 2020 to lessen allergic responses that might arise from unintentional exposure to peanuts. When a verified diagnosis of peanut allergy is present, treatment with Palforzia may be started in patients 4 years of age and older and continued in those who are older.
The development of the worldwide market for allergy treatments is anticipated to be hampered by a lack of public understanding of allergy immunotherapy. Even though the prevalence of allergies among people has significantly increased, allergic disorders are still widely underdiagnosed and underestimated due to a lack of knowledge, both in developed and developing countries.
The rise in popularity of using biosimilars is anticipated to impede market expansion for allergy treatments worldwide. A biosimilar is a biologic reference product that has already received FDA approval and is very similar to it but not an identical replica. The number of biological medications has exhibited a constant and exponential growth pattern. The FDA has so far given its approval to 36 biosimilars. The newest biosimilar received approval on May 26, 2022.
Players in the worldwide allergy treatment market could benefit from attractive development prospects as environmental pollution levels rise. For instance, it is now known that air pollution is more strongly associated with a rise in the incidence of allergies. It may also make allergic rhinitis symptoms worse. According to studies, air pollution contributes to the deterioration of asthma symptoms. As a result, the incidence of allergy disorders is rising along with the degree of pollution. The need for allergy therapy is thus anticipated to rise as a result.
For companies in the worldwide allergy treatment market, rising patient awareness of allergy immunotherapy (AIT) is anticipated to provide attractive development prospects. A common long-term treatment for many patients with allergic asthma, allergic rhinitis, or stinging insect allergy is allergen immunotherapy, often known as allergy injections and conjunctivitis (eye allergy). A series of injections of the allergen is used in allergy shots, a type of immunotherapy. It serves as a preventative measure for substance allergies.
Market Trends/Key Takeaways
The global market for allergy treatments is anticipated to develop as a result of rising consumer demand for safe and efficient products. For instance, Nicolan Healthcare announced the introduction of antibiotics in August 2021 for the management of different allergy symptoms as well as the treatment of infections and allergies.
The global market for allergy treatments is anticipated to expand as a result of the rising development of innovative allergic remedies. As an illustration, immune system researchers are starting to comprehend the underlying causes of allergies and developing next-generation medicines that could prevent allergies entirely rather than just treating their symptoms. Additionally, businesses and private investors are flooding the market with cash.
Includes Teva Pharmaceutical Industries, ALK-Abello AS, Stallergenes Greer PLC, AbbVie Inc., Novartis International AG, Sanofi SA, Allergy Therapeutics PLC, Dermapharm Holding SE, Bausch Health Companies Inc., Johnson & Johnson, Leti Pharma, Alembic Pharmaceuticals Limited, GlaxoSmithKline PLC, and Hoffmann-La Roche Ltd, Nicox SA.
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Reasons to buy this Allergy Treatment Market Report
☑ It attempts an analysis of the competing scenario.
☑ The current and exceptional product revenue market.
☑ An in-depth data on the regional investigation and competitive landscape structure.
☑ It benefits in creating an awareness of the important key product segments.
☑ The marketing strategies, opportunities, and development factors are explained.
☑ Allergy Treatment market size estimation and recent advancements in the industry are explained.
The Study Objectives are:
✔ A comprehensive insight into key players operating in the Allergy Treatment Market and their corresponding data.
✔ It includes product portfolio, annual revenue, expenditure on research and development, geographical presence, key developments in recent years, and growth strategies.
✔ Regional analysis, which includes insight into the dominant market and corresponding market share.
✔ It also includes various socio-economic factors affecting the evolution of the market in the region.
✔ The report offers a comprehensive insight into different individuals from value chains such as raw materials suppliers, distributors, and stockholders.
Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Allergy Treatment Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: Allergy Treatment Industry Impact
Chapter 2 Global Allergy Treatment Competition by Types, Applications, and Top Regions and Countries
2.1 Global Allergy Treatment (Volume and Value) by Type
2.3 Global Allergy Treatment (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Allergy Treatment Sales, Consumption, Export, Import by Regions (2017-2022)
Chapter 5 North America Allergy Treatment Market Analysis
Chapter 6 East Asia Allergy Treatment Market Analysis
Chapter 7 Europe Allergy Treatment Market Analysis
Chapter 8 South Asia Allergy Treatment Market Analysis
Chapter 9 Southeast Asia Allergy Treatment Market Analysis
Chapter 10 Middle East Allergy Treatment Market Analysis
Chapter 11 Africa Allergy Treatment Market Analysis
Chapter 12 Oceania Allergy Treatment Market Analysis
Chapter 13 South America Allergy Treatment Market Analysis
Chapter 14 Company Profiles and Key Figures in Allergy Treatment Business
Chapter 15 Global Allergy Treatment Market Forecast (2022-2028)
Chapter 16 Conclusions
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