Global Allergy Treatment Market: Overview
Over the last few decades, there has been a dramatic rise in the prevalence of allergic diseases. According to the World Allergy Organization, an estimated 30% to 40% of the global population suffered from some form of allergic condition in 2011. The World Health Organization also stated that currently approximately 235 million people across the globe have asthma and another 100 million have rhinitis. Respiratory allergies have become the most common chronic disease among young adults and adolescents. This development has provided momentum to the global allergy treatment market.
Major types of allergies caused by food, drugs, insects, or the surrounding environment include rhinitis, conjunctivitis, eczema, and asthma. These allergies can be treated through either immunotherapy or anti-allergy medications such as corticosteroids, antihistamines, mast cell stabilizers, and decongestants. Clinics, hospitals, homes, and medical stores are the most preferred settings for the treatment of allergy.
The report offers in-depth information pertaining to the global allergy treatment market. The key drivers and challenges, the leading segments and sub-segments, and the threats and opportunities in the market have been determined and examined in detail. An exhaustive overview of the industrial structure, value chain, scope, and dynamics has been included in the study, along with a dedicated section on the vendor landscape. Prominent players competing at a global and regional level have been identified and a review of each company has been provided for a clearer understanding of the degree of competition.
Global Allergy Treatment Market: Key Trends and Opportunities
A number of small and major factors is fueling the global allergy treatment market. Rise in the global population suffering from different types of allergies is a major factor driving the market. Changes in lifestyle and dietary habits, increase in environmental pollution, growing demand for advanced therapies targeted at allergy treatment, rising government initiatives, and a surge in research and development activities have also propelled the allergy treatment market.
Increase in alliances among leading players is another key factor that has augmented the global allergy treatment market. Allergy Therapeutics, a UK-based pharmaceutical company, acquired Spain-based Alerpharma S.A. in 2015 to expand its allergy immunotherapy product offerings. Later that year, Pfizer Inc. merged with Allergan plc to expand its share in the global drug industry.
On the other hand, side effects of immunotherapy and high cost of this treatment option act as major restraints of the global allergy treatment market.
Global Allergy Treatment Market: Region wise Outlook
North America and Europe dominated the global allergy treatment market in the past few years due to escalating percentage of population suffering from allergies of the skin, eyes, and respiratory system. In addition, presence of developed health care, rise in environmental pollution, and increase in demand for immunotherapy in the treatment of allergies have accelerated the growth of the allergy treatment markets in these two regions. Asia Pacific is likely to emerge as one of the strongest contenders in the allergy treatment market in the next few years due to the rising allergic patient population pool. Moreover, rapid development of health care infrastructure, growing awareness about the availability of advanced immunotherapy for the treatment various types of allergies, and the surge in government expenditure in the health care sector are anticipated to contribute to the growth of the Asia Pacific allergy treatment market.
Global Allergy Treatment Market: Key Players
The most promising players in the global allergy treatment market include Allergy Therapeutics, Meda Pharmaceuticals, Inc., Allergan plc, Schering-Plough Corporation, Alerpharma S.A., McNeil Consumer Healthcare, Allergopharma, Genentech, Inc., Allergon AB, Collegium Pharmaceutical, Inc., and Sepracor, Inc. These companies have been looking to enter into mergers and acquisitions in the allergy treatment market in order to expand their businesses.
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