The global allergy treatment market is on track for significant growth, projected to reach a valuation of US$ 34.9 billion by 2034. This expansion is expected to occur at a moderate CAGR of 5.8%. The driving force behind this market surge is the increasing number of individuals suffering from allergies.
Contributing factors include changing lifestyles, deteriorating air quality, and rising pollution levels, all of which contribute to the growing prevalence of allergic conditions. This escalating demand for allergy treatments is expected to drive market growth.
Recent years have seen advancements in allergy management techniques, with further enhancements anticipated in the coming years. These improvements are expected to provide greater comfort for patients, further bolstering demand and market growth.
The progress in medical science and the pharmaceutical industry is also playing a crucial role in driving market expansion. Advancements in these fields are leading to increased availability of medicines and therapies, stimulating consumer demand.
Technological advancements are another key driver, particularly in pharmaceutical manufacturing, enabling allergy treatment experts to provide more effective care.
The report highlights key findings related to the market:
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Food Allergy:
Changing food consumption trends are contributing to the rising prevalence of food allergies, with food and water contamination adding to the issue. Genetic conditions also play a part in the growth of this market segment.*
Inhaled Allergy:
The segment related to inhaled allergies is significantly impacted by deteriorating air quality. Growing pollution has resulted in poor air quality in numerous countries, leading to an increase in airborne pathogens and allergies. This makes inhaled allergies a crucial segment influencing the market.*
Hospital Pharmacies:
Hospital pharmacies play a significant role in the market, acting as the primary point of contact for patients seeking allergy medications. They represent the largest distribution channel, contributing significantly to overall market growth.*
Anti-Allergic Drugs:
Medical professionals rely heavily on anti-allergic drugs to treat patients. The increasing demand for less invasive treatments is driving the growth of this segment. Customized treatments can be tailored based on patient health reports, including anti-allergic medications and less invasive comfort therapies.Regional Profile:
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North America:
North America, particularly the United States and Canada, is actively investing in research and development within the pharmaceutical sector. This significant investment positions the region for the most substantial market growth due to its vast market size.*
Asia-Pacific:
The growing population in Asia-Pacific and rising government investments in healthcare are driving demand for allergy treatment, making this region another key market contributor.*
Europe:
Europe’s emphasis on sustainability is influencing the demand for sustainable medicines and treatments, contributing to market growth.Key Developments:
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ALK Market Entry in China:
In March 2022, ALK gained easier access to the Chinese market due to the government’s waiver of several regulatory policies. This move allowed ALK to expand its global presence, enter a new market, and improve its market position.*
Genentech’s Xolair Approval:
In February 2024, Genentech received FDA approval for its anti-allergy injection, Xolair. This approval has been significant from a market position perspective, allowing Genentech to enter a niche market and gain a competitive edge.Competitive Landscape:
The allergy treatment market is characterized by key competitors such as:
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ALK:
A major player specializing in producing syringes, ancillary products, and standardized extracts.*
Stallergenes Greer:
Known for producing various test kits, including skin prick test kits and allergen immunotherapy kits.*
Allergy Therapeutics:
Offers subcutaneous immunotherapy and sublingual immunotherapy.Other key players include HAL Allergy B.V, GSK, Sunovion Pharmaceuticals, Inc., Teva Pharmaceutical Industries Ltd., AbbVie Inc., Thermo Fisher Scientific Inc., and Meda AB.
