April 18, 2024

Respiratory Allergies Treatment Is The Largest Segment Driving The Growth Of Allergy Treatment Market

Market Overview:

Allergy treatment products provide relief from respiratory allergies such as asthma, rhinitis, sinusitis etc. Products such as antihistamines, corticosteroids, immunotherapy and others help alleviate allergy symptoms including sneezing, wheezing and itching thereby improving quality of life.

Market Key Trends:

One of the key trends in the allergy treatment market is the rising preference for sublingual immunotherapy. In sublingual immunotherapy, allergen extracts are administered in gradually increasing doses under the tongue to induce tolerance in the patient. It offers advantages over traditional immunotherapy such as convenience of home administration and lower risk of systemic allergic reactions. The success of allergen-specific sublingual immunotherapy products such as Grazax and Oralair in clinical trials is promoting their use for treating respiratory allergies.

Market key trends:
The allergy treatment market has been witnessing increased adoption of sublingual immunotherapy drugs to treat allergic rhinitis and allergic asthma. Sublingual immunotherapy helps in gradually decreasing sensitivity to allergens by exposing patients to gradually increasing doses of allergen(s) to which they are allergic. It is generally well-tolerated and effective for both seasonal and perennial allergic rhinitis and asthma. Sublingual immunotherapy’s efficacy, targeted treatment approach and avoidance of daily drug intake through injections makes it a preferred treatment option for allergy patients.

SWOT Analysis
Strength: Wide range of treatment options available including immunotherapy, antihistamines, decongestants, leukotriene inhibitors etc offering both long term and temporary relief.
Weakness: High costs associated with immunotherapy and lack of healthcare infrastructure for proper diagnosis and treatment in developing regions.
Opportunity: Rising healthcare expenditure and growing awareness about allergy symptoms and management globally.
Threats: Frequent changes in environmental factors, increasing pollution levels and new allergen exposure posing threat of new allergies.

Key Takeaways

The Global Allergy Treatment Market Demand  was valued at US$ 20007.78 Mn in 2023 and is expected to reach US$ 32,483.46 Mn by 2030, expanding at a CAGR of 6.4%.
The market is driven by the increasing incidences of allergic disease burden owing to climate change, pollution levels and changes in lifestyle. Regionally, North America accounted for the largest revenue share in 2023 owing to developed healthcare infrastructure and presence of major market players in the region.

Key players operating in the allergy treatment market are Stallergenes Greer PLC, Sanofi SA, Novartis International AG, Dermapharm Holding SE, Leti Pharma, Johnson & Johnson, GlaxoSmithKline PLC, Nicox SA, F. Hoffmann-La Roche Ltd., Allergy Therapeutics PLC, AbbVie Inc. (Allergan), Bausch Health Companies Inc., Teva Pharmaceutical Industries, ALK-Abello AS, and Alembic Pharmaceuticals Limited, among others.

Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it