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The Allergy Treatment Market is Segmented by Type, by Treatment (Anti-Allergy Drugs and Immunotherapy), and Geography
Fastest Growing Market:
The major factors for the growth of the allergy treatment market include the increasing burden of various types of allergies, increased investment by the manufacturers on the development of novel allergic treatments, and rising importance for self-medication.
The rising cases of allergies are expected to increase the demand for allergy immunotherapy, leading to the high growth of the market over the forecast period. According to the International Study of Asthma and Allergies in Childhood (ISAAC), about 22.1% of young children aged between 13 and 14 years are affected by hay fever, which was globally published in World Allergy Week 2016 fact sheet.
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 in excess of USD 18 billion, and more than 50 million Americans suffer from allergies each year. There is an increase in the number of people suffering from food allergies among both children and adults, globally. Hence, the increasing burden of allergic diseases is expected to aid the demand for allergy treatment.
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.
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Subcutaneous immunotherapy (SCIT), is the most commonly used and most effective form of allergy immunotherapy and it is the only treatment available that actually changes the immune system, making it possible to prevent the development of new allergies and asthma.
The rising approval of immunotherapy is the major factor driving the growth of the market. For instance, recently, in 2018, one of the major market players, Stallergenes Greer received approval from the United States Food and Drug Administration (FDA) for the extension of the indication for Oralair, an allergy immunotherapy sublingual tablet, to treat patients ages 5 to 9 with grass pollen-induced allergic rhinitis.
Furthermore, governments are taking initiatives to increase awareness about allergies among the population, for instance recently, in January 2018, the Ministry and the Japanese Society of Allergology opened a dedicated website about allergies. Thus, owing to the rising burden of allergies and awareness among the population the market is expected to witness high growth.
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North America is expected to dominate the market accounting for the highest share, and is anticipated to maintain this trend throughout the forecast period.
According to an article by Ruchi Gupta et al. published in JAMA Network Open Journal, an estimated 10.8% were food allergic at the time of the survey, whereas nearly 19% of adults believed that they were food allergic. Nearly half of food-allergic adults had at least 1 adult-onset food allergy, and 38% reported at least 1 food allergy-related emergency department visit in their lifetime. This prevalence is very high. However, the United States has a very developed healthcare System. It also invests large amounts into research and development.
Hence, US healthcare has the ability to provide treatment to nearly all of its population. Hence the US allergy treatment market is expected to cover a large share of the market.
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The majority of the allergy treatment products are being manufactured by the global key players. The market leaders with more funds for research and better distribution system have established their position in the market. Moreover, Asia-pacific is witnessing an emergence of some small players due to the rise of awareness and this has also helped the market to grow.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 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 Globe
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
6.1 Company Profiles
6.1.1 ALK-Abello A/S
6.1.2 Allergy Therapeutics
6.1.3 Sanofi SA
6.1.4 Allergan Plc.
6.1.5 Merck KGaA (Allergopharma)
6.1.6 F. Hoffmann-La Roche Ltd. (Genentech Inc.)
6.1.7 Stallergenes Greer plc
6.1.8 Johnson & Johnson
6.1.9 GlaxoSmithKline plc
6.1.10 Leti Pharma
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments