Allergy Treatment Market Size

Allergy Treatment Market Analysis

The Allergy Treatment Market size is estimated at USD 21.05 billion in 2024, and is expected to reach USD 31.07 billion by 2029, growing at a CAGR of 8.10% during the forecast period (2024-2029).

During the COVID-19 pandemic, a large population was struggling with chronic respiratory issues, such as respiratory allergies, including allergic rhinitis and sinusitis. An article published in February 2021 in the Journal of Allergy and Clinical Immunology reported the pandemic had a significant impact on allergy & immunology (A&I) services, leading to multiple unplanned pragmatic amendments in service delivery. There is an urgent need for prospective audits and strategic planning to achieve equitable, safe, and standardized health care in the medium and long term. Thus, the pandemic substantially impacted market growth in its preliminary phase. However, per the analysis, the treatment market for the same grew significantly with the growing burden of allergic diseases in the post-pandemic phase. For instance, per the study published by the Journal of Family Medicine and Primary Care in 2022, 24 patients were admitted with complaints of facial edema, nasal crusting, and orbital swelling. All cases were diagnosed as invasive fungal sinusitis. Specifically, mucormycosis, supported by clinical and radiological findings and potassium hydroxide (KOH) mounting. Moreover, the latest treatment strategies for allergies and research on new treatment approaches are expected to drive the market in the coming years.

The increasing burden of various types of allergies, the growing investment by manufacturers in developing novel allergic treatments, and the rising importance of self-medication are the major factors propelling the market's growth. Allergic conditions are one of the most common health issues affecting children in the United States. For instance, in 2021, the Asthma and Allergy Foundation of America (AAFA) reported that each year in the United States, anaphylaxis (a severe allergic reaction) to food results in 90,000 emergency room visits, and more than 50 million people in the United States experience various types of allergies each year. Asthma and Allergy Foundation of America (AAFA) 2021 data also reported that approximately 24 million people in the United States were diagnosed with seasonal allergic rhinitis (hay fever). This equals around 8% (19.2 million) of adults and 7% (5.2 million) of children, and about 32 million people have food allergies. Thus, the growing prevalence of allergies is expected to increase demand for their treatment, thereby boosting the market's growth.

With the increase in allergic reactions, there are rising investments seen across the world for the development of novel treatments. For instance, in July 2022, Nestlé Health Science invested EUR 40 million (USD 41 million) to co-develop Enterome's preclinical IL-10 inducer and collaborate on discovering other food allergy candidates. Likewise, in February 2020, Aimmune Therapeutics also 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). The drug was initially developed for the treatment of allergic asthma. It uses three distinct mechanisms of action to reduce blood serum IgE and suppress IgE-producing cells. All such factors are expected to propel the market during the forecast period.

However, the growing preference for low-cost biosimilars and lack of awareness regarding allergy immunotherapy can hamper the market's growth.