Allergy Treatment Market Snapshot
|Study Period:||2018 - 2026|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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The allergy treatment market was valued at USD 18,055 million in 2020, and it is expected to reach USD 26,196.62 million by 2026, registering a CAGR of 6.4% during the forecast period.
With the onset of the COVID-19 pandemic, a large section of people globally was struggling with chronic respiratory issues, such as respiratory allergies, including allergic rhinitis and sinusitis. For instance, in a survey conducted by the Asthma and Allergy Foundation of America in June 2020, 2,695 people were made to participate, out of which 57% had asthma, 51% had a family member with asthma, 63% had allergies, and 66% had a family member with allergies. The impact of COVID-19 is considered positive on the market.
The increasing burden of various types of allergies, growing investment by the manufacturers on the development of novel allergic treatments, and rising importance for self-medication are the major factors propelling the growth of the market. A 2020 report by the Food Allergy Research & Education estimates that 32 million US residents have food allergies, including 5.6 million children under age 18. About 40% of children with food allergies are allergic to more than one food.
As per the data published by the American College of Allergy, Asthma & Immunology, allergies are the sixth leading cause of chronic illness in the United States, with an annual cost of more than USD 18 billion and more than 50 million Americans suffer from allergies each year. Food allergies among both children and adults are increasing in all parts of the world. Thus, this surge in the burden of allergic diseases is expected to increase the demand for allergy treatment. Moreover, the increasing focus on research and development to develop novel products to cater to high unmet medical needs present currently in the market serves to be the high impact driver for the growth of the market. For instance, in April 2020, Menlo Therapeutics Inc. reported positive results from its two ongoing Phase-III clinical trials evaluating the safety and efficacy of once-daily oral serlopitant for the treatment of Pruritus, a type of skin allergy.
The trend of self-medication has been increasingly adopted by the population in both developed and developing countries. Thus, the increase in over-the-counter (OTC) drugs has been seen over the past decade. These OTC drugs are cheaper and more accessible to many patients, which directly increases the procurement of these drugs. All these factors are expected to propel the market growth in the forecasted period. However, a rise in preference towards low-cost biosimilar and low awareness regarding allergy immunotherapy can hamper the market growth.
Scope of the Report
As per the scope of the report, allergy is a condition in which the immune system reacts abnormally to a foreign substance. The allergy treatment involves drugs and therapies that reduce the symptoms of allergies and/or help the immune system prepare for future encounters. The allergy treatment market is segmented by type (eye allergy, rhinitis, asthma, skin allergy, food allergy, and other allergies), treatment (anti-allergy drugs and immunotherapy), and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.
Key Market Trends
Subcutaneous Immunotherapy (SCIT) is Expected to Register a High Growth Rate During the Forecast Period
Subcutaneous immunotherapy (SCIT) is the most effective and widely used allergy immunotherapy. So far, SCIT is the only treatment that alters the immune systems and brings systemic relief. SCIT helps to prevent the further development of new allergies and asthma.
The innovative launch of immunotherapy products and rising approval are the major factors boosting the growth of the market. For instance, recently, in October 2019, ALK-Abelló AS secured an amended regulatory approval in Germany for its SCIT product, Alutard SQ, sold in Germany, under the brand name ALK-depot SQ, for allowing a shorter up-dosing for the product.
Also, in 2018, Stallergenes Greer received United States Food and Drug Administration (FDA) approval for the extended indication of the Oralair, an allergy immunotherapy sublingual tablet, for the treatment of grass pollen-induced allergic rhinitis in children aged 5 to 9-year-old. Moreover, immunotherapy attracted various government initiatives. For instance, in January 2018, the Ministry and the Japanese Society of Allergology opened a dedicated website about allergies in order to create awareness about the allergy and various immunotherapy. Thus, the rising burden of allergies, coupled with the growing adoption of immunotherapy among the population, is expected to drive market growth.
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North America is Expected to Dominate the Allergy Treatment Market
North America is expected to dominate the market, accounting for the highest share, and it is anticipated to maintain this trend throughout the forecast period. According to an article published in JAMA Network Open Journal, an estimated 10.8% were food allergic in the survey, whereas nearly 19% of adults believed that they were food allergic. Nearly half of food-allergic adults had at least one adult-onset food allergy, and 38% reported at least one food allergy-related emergency department visit in their lifetime. According to the Asthma and Allergy Foundation of America, peanut causes the highest number of food allergies (1.6 million children in 2018, as per Food Allergy Research and Education). Sesame was the ninth-most common food allergy in the United States, as per the American Academy of Allergy Asthma and Immunology. This prevalence is very high, and it is anticipated to increase in the future further.
Apart from the United States, the government of Canada is also focusing on providing Canadians with the information they require to make healthy and safe food choices. The CFIA (Canadian Food Inspection Agency) and Health Canada work jointly with provincial, municipal, and territorial partners and industries to reach this goal.
Moreover, in the United States, numerous drugs are under development, primarily to treat various types of allergies. Market players are focusing on the development and launch of new products. In March 2019, Aimmune Therapeutics Inc.’s Biologics License Application (BLA) for AR101 was accepted for review by the US Food and Drug Administration (FDA). The focus on R&D, primarily for the introduction of better products, is anticipated to drive the US allergy treatment market’s growth during the forecast period.
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The majority of the allergy treatment products are manufactured by the global key players. The market leaders, with more funds for research and better distribution systems, established their position in the market. Moreover, Asia-Pacific is witnessing an emergence of some small players due to the rise of awareness, which helped the market growth .
In February 2020, Aimmune Therapeutics spent USD 10 million to in-license an experimental anti-allergenic biological drug from Xencor. Xencor granted Aimmune Therapeutics an exclusive worldwide license to develop and commercialize the investigational humanized monoclonal antibody AIMab7195 (Originally XmAb7195).
In February 2020, Glenmark Pharmaceuticals Ltd and its Swiss subsidiary, Glenmark Specialty SA, entered an exclusive licensing agreement with Hikma Pharmaceuticals for commercializing its novel nasal spray, Ryaltris, in the United States for the treatment of allergic rhinitis.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 The Increasing Importance for Self-medication
4.2.2 Rising Incidence of Food Allergies across the World
4.2.3 Rising Investments by the Manufacturers on the Development of Novel Allergic Treatments
4.3 Market Restraints
4.3.1 Rise in Preference Towards the Use of Biosimilars
4.3.2 Low Awareness of Allergy Immunotherapy (AIT) Among Patients
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Eye Allergy
5.1.4 Skin Allergy
5.1.5 Food Allergies
5.1.6 Other Allergies
5.2 By Treatment
5.2.1 Anti-Allergy Drugs
188.8.131.52 Other Drugs
184.108.40.206 Sub-cutaneous Immunotherapy (SCIT)
220.127.116.11 Sub-Lingual Immunotherapy (SLIT)
5.3.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
220.127.116.11 South Africa
18.104.22.168 Rest of Middle-East and Africa
5.3.5 South America
22.214.171.124 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 ALK-Abello A/S
6.1.2 AbbVie Inc.
6.1.3 Allergy Therapeutics
6.1.4 Anacor Pharmaceuticals Inc.
6.1.6 F. Hoffmann-La Roche Ltd (Genentech Inc.)
6.1.7 Galderma SA
6.1.8 GlaxoSmithKline PLC
6.1.9 Johnson & Johnson
6.1.10 Leti Pharma
6.1.11 Merck KGaA (Allergopharma)
6.1.12 Novartis International AG
6.1.13 Sanofi SA
6.1.14 Stallergenes Greer PLC
6.1.15 Teva Pharmaceutical Industries
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Allergy Treatment Market market is studied from 2018 - 2026.
What is the growth rate of Global Allergy Treatment Market?
The Global Allergy Treatment Market is growing at a CAGR of 6.4% over the next 5 years.
What is Global Allergy Treatment Market size in 2018?
The Global Allergy Treatment Market is valued at 18055 Million USD in 2018.
What is Global Allergy Treatment Market size in 2026?
The Global Allergy Treatment Market is valued at 26196 Million USD in 2026.
Which region has highest growth rate in Global Allergy Treatment Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Allergy Treatment Market?
North America holds highest share in 2020.
Who are the key players in Global Allergy Treatment Market?
Johnson & Johnson, Sanofi SA, GlaxoSmithKline PLC, F. Hoffmann-La Roche Ltd. (Genentech Inc.), Leti Pharma are the major companies operating in Global Allergy Treatment Market.