Allergy treatment involves the diagnosis and treatment of allergic conditions and disorders. It includes products such as antihistamines, decongestants, corticosteroids, allergy immunotherapy, and nasal sprays. These products provide symptomatic relief from allergy symptoms such as sneezing, itchy or watery eyes, and runny nose. The increasing prevalence of allergic conditions such as allergic rhinitis, asthma, food allergies, and atopic dermatitis has accelerated the demand for effective allergy treatments.

The global allergy treatment market is estimated to be valued at US$ 20007.78 Mn in 2023 and is expected to exhibit a CAGR of 6.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

One of the key drivers for the growth of the allergy treatment market is the increasing prevalence of allergic conditions. According to a report published by American Academy of Allergy, Asthma & Immunology in November 2020, allergic diseases affect more than 50 million Americans and leads to more than $18 billion in annual healthcare costs. Allergic rhinitis, commonly known as hay fever, affects 10%-30% of the global population. The rising pollution levels and changes in environmental conditions have further increased the instances of allergic reactions among people. This has augmented the demand for effective allergy treatments such as antihistamines and decongestants for immediate relief of symptoms. Moreover, sublingual and oral immunotherapy have gained prominence in the long-term treatment of allergies. These treatments help reduce the symptoms of an allergic reaction over time by gradually exposing the patient to larger amounts of certain allergens. Thus, the growing patient pool suffering from different types of allergies will continue to propel the allergy treatment market during the forecast period.

SWOT Analysis

Strength: The allergy treatment market offers various treatment options for allergy patients. immunotherapy helps increase patients' tolerance to allergens through gradual exposure. Moreover, it is the only treatment option that provides long term relief from symptoms of allergies. Allergen immunotherapy is a safe and effective treatment option for managing allergic rhinitis and asthma symptoms.

Weakness: Allergen immunotherapy requires patients to undergo regular injections or sublingual drops/tablets over a period of 3-5 years. This long course of treatment makes it difficult for patients to adhere to the full treatment regimen. Further, the treatment outcomes may vary from patient to patient based on their overall health conditions and severity of allergy.

Opportunity: Growing patient awareness about the advantages of allergen immunotherapy over conventional drugs presents major opportunities in the market. Further, rising healthcare expenditure in emerging countries is expected to drive the adoption of immunotherapy for treating allergic diseases. Also, ongoing R&D and clinical trials for the development of novel and advanced treatment therapies offer new growth prospects.

Threats: High treatment costs associated with allergen immunotherapy limits its uptake in price-sensitive regions. Further, the risk of adverse reactions with immunotherapy may discourage patients from opting for this treatment in some cases. Also, the availability of alternative treatment options like antihistamines poses competition in the market.

Key Takeaways

The Global Allergy Treatment Market Size is expected to witness high growth over the forecast period supported by rising allergy prevalence worldwide. According to the World Allergy Organization, allergic rhinitis and asthma affect over 30% of the global population and generate significant medical costs each year. The global allergy treatment market is estimated to be valued at US$ 20007.78 Mn in 2023 and is expected to exhibit a CAGR of 6.4% over the forecast period 2023 to 2030.

Regional analysis:

The North American region currently accounts for the largest share in the global allergy treatment market supported by rising prevalence of airborne and food allergies. According to data, allergic rhinitis and asthma affect around 30% of the US population. Major players are focused on expanding their presence through new product launches in the US. Asia Pacific is expected to witness fastest growth during the forecast period driven by improving access to healthcare services in countries like China, India and Japan. Further, growing health awareness and economic development are positively impacting the adoption of advanced treatments in Asia Pacific.

Key players:

Key players operating in the allergy treatment market are Entegris Inc., Resonac Holding Corporation, AGC Inc., Fujifilm Corporation (Fujifilm Holdings Corporation), and Fujimi Corporation Fujifilm Corporation (Fujifilm Holdings Corporation), and Fujimi Corporation (Fujimi Incorporated). The major market players are focusing on product launches, collaborations and acquisitions for further expansion in untapped markets. For instance, in 2020 Resonac Holding Corporation acquired a German based generics manufacturer to strengthen its European base.

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