An allergy is a medical condition where the immune system reacts abnormally when exposed to certain foreign substances. These allergy-producing substances are known as allergens. Allergens can be dust particles, mites, molds, pollens, animal proteins, foods, and medications.
Allergies can be perennial or seasonal. Perennial allergies occur due to specific allergens that cause an allergic reaction throughout the year. Allergens responsible for perennial allergies include pet hair or dander, food, and medication. Seasonal allergies occur due to weather changes that allow growth of mold, insect or grass. Seasonal allergies are caused by airborne allergens such as pollens and ragweed. Symptoms of allergic reactions include itching, runny & blocked nose, watery eyes, wheezing, shortness of breath, swelling in lips, eyes or face, sneezing, and others.
Global Allergy Treatment Drugs Market – Dynamics
Rising incidence of allergic conjunctivitis and rhinitis is expected to propel growth of the global allergy treatment drugs market over the forecast period. For instance, according to the article published in the Asia Pacific Association of Allergy, Asthma and Clinical Immunology, in April 2019, simple allergic conjunctivitis affects around 10% to 30% of the population globally. Moreover, according to the National Health Interview Survey, 2018, around 19.2 million adults and 5.2 million children were diagnosed with allergic rhinitis in the U.S. in 2017.
Moreover, various mergers, agreements, and acquisitions among key players are expected to drive the growth of allergy treatment drugs market over the forecast period. For instance, in July 2018, Glenmark Specialty S.A., a division of Glenmark Pharmaceuticals Ltd. (Glenmark), entered into an exclusive licensing agreement with Seqirus Pty. Ltd., to commercialize Ryaltris in Australia and New Zealand. Ryaltris is a nasal spray used for the treatment of symptoms associated with seasonal allergic rhinitis. Furthermore, rising product approvals by the regulatory authorities are expected to propel the growth of allergy treatment market. For instance, in December 2019, Glenmark Pharmaceuticals Ltd., announced that Seqirus Pty. Ltd., received marketing approval from the Therapeutic Goods Administration (TGA), Australia.
Global Allergy Treatment Drugs Market – Regional Insights
North America accounted for the largest market share in 2018, owing to rising approval of novel drugs from regulatory bodies in the region. For instance, in January 2020, Aimmune Therapeutics, Inc. received the U.S. Food and Drug Administration (FDA) approval for PALFORZIA, for the treatment of peanut allergy. Moreover, increasing prevalence of various allergies is also expected to propel growth of the allergy treatment drugs market in the region. For instance, according to the American Academy of Pediatrics (AAP), in 2018, around 5.6 million children had a food allergy in the U.S.
Europe is expected to be the second-largest market for global allergy treatment drugs and it is projected to witness significant growth over the forecast period, owing to increasing number of food allergy incidences in the region. For instance, according to the Food Standard Agency (FSA), in March 2017, around 2 million people were diagnosed with food allergy in the U.K.
Global Allergy Treatment Drugs Market – Competitive Landscape
Key players operating in the allergy treatment drugs market include Aimmune Therapeutics, Inc., Bayer AG, HAL Allergy B.V., Johnson & Johnson Services, Inc., Magna Pharmaceuticals, Inc., Stallergenes Greer, and others.
Global Allergy Treatment Drugs Market – Taxonomy
On the basis of allergy type, the global allergy treatment drugs market is segmented into:
On the basis of treatment type, the global allergy treatment drugs market is segmented into:
On the basis of dosage form, the global allergy treatment drugs market is segmented into:
On the basis of distribution channel, the global allergy treatment drugs market is segmented into:
On the basis of region, the global allergy treatment drugs market is segmented into:
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