Allergy Treatment Market Analysis

An allergy is a reaction by the immune system to something that does not bother most other people. Allergy occurs when a person reacts to substances in the environment that are harmless to most people. These substances are known as allergens and are found in dust mites, pollen, pets, insects, moulds, ticks, foods, and some drugs. Allergy symptoms range from mild, rash or hives, runny nose, itchiness, and watery/red eyes, to life-threatening. The treatment for an allergy depends on what people are allergic to. Medicines for mild allergies are available from pharmacies without prescription. Antihistamines, a class of drugs, are often used for allergies. Decongestants can be used as a short-term treatment. Whereas, creams and lotions are used to treat red and itchy skin caused by an allergic reaction. Steroids help reduce the inflammation caused by an allergic reaction. Seasonal allergies can be treated with over-the-counter (OTC) medicines, prescription drug, and natural remedies.

Market Statistics:

The global allergy treatment market was valued at US$ 17,773.4 Mn in 2021 and is forecast to reach a value of US$ 27,347.4 Mn by 2028 at a CAGR of 6.4% between 2022 and 2028.

North America held dominant position in the global allergy treatment market in 2020, accounting for 38.5% share in terms of volume, followed by Europe and Asia Pacific, respectively.

Figure 1. Global Allergy Treatment Market Share (%), by Region, 2021

Recent Developments:

In March 2021, Bausch Health Companies Inc. and Glenmark Pharmaceuticals entered into an exclusive licensing agreement for the commercialization of Glenmark's innovative nasal spray RYALTRIS under review by Health Canada.

In October 2019, Allergan PLC announced the launch of three new over-the-counter (OTC) Refresh Relieva products. Refresh Relieva, Refresh Relieva PF (preservative-free) multidose, and Refresh Relieva for Contacts.

In March 2018, Dr Reddy's Laboratories launched levocetirizine dihydrochloride tablets, used for relieving allergies, in the U.S. Dr Reddy's Laboratories said it had ‘launched levocetirizine dihydrochloride tablets USP, 5 mg, an over-the-counter therapeutic equivalent generic version of UCB's Xyzal allergy tablets’ approved by the US Food and Drug Administration (FDA).

Allergy Treatment Market Report Coverage

Report Coverage	Details
Base Year:	2021	Market Size in 2022:	US$ 18,804.3 Mn
Historical Data for:	2017 to 2020	Forecast Period:	2022 to 2028
Forecast Period 2022 to 2028 CAGR:	6.4%	2028 Value Projection:	US$ 27,347.4 Mn
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific Middle East: GCC Countries, Israel, and Rest of Middle East Africa: South Africa, North Africa, and Central Africa
Segments covered:	By Type: Eye Allergy, Rhinitis, Asthma, Skin Allergy, Food Allergies, and Other Allergies By Treatment: Anti-allergy Drugs and Immunotherapy By Geography: North America, Europe, Asia-Pacific, Middle East & Africa, and South America
Companies covered:	Stallergenes Greer PLC, Sanofi SA, Novartis International AG, Dermapharm Holding SE, Leti Pharma, Johnson & Johnson, GlaxoSmithKline PLC, Nicox SA, F. Hoffmann-La Roche Ltd., Allergy Therapeutics PLC, AbbVie Inc. (Allergan), Bausch Health Companies Inc., Teva Pharmaceutical Industries, ALK-Abello AS, and Alembic Pharmaceuticals Limited, among others
Growth Drivers:	High incidence of allergic diseases across the globe Frequent approval of new drugs by regulatory bodies
Restraints & Challenges:	Lack of awareness about allergy immunotherapy Rise in preference for biosimilars

Market Drivers:

1. High incidence of allergic diseases across the globe is expected to drive growth of the global allergy treatment market during the forecast period. Asthma, allergic rhinitis, atopic dermatitis, and food allergy are the most common allergic diseases affecting children, and the prevalence of these conditions has risen in recent years. For instance, according to the Asthma and Allergy Foundation of America (AAFA), over 50 million people in the U.S. experience various types of allergies each year. Allergies are the 6^th leading cause of chronic illness in the U.S. Allergic conditions are one of the most common health issues affecting children in the U.S.
2. Frequent approval of new drugs by regulatory bodies is expected to boost the growth of the global allergy treatment market during the forecast period. There is an increasing demand for safe and effective treatment due to increasing prevalence of allergic diseases across the globe. For instance, in January 2020, the Food and Drug Administration (FDA) approved Palforzia to mitigate allergic reactions that may occur with accidental exposure to peanuts. Treatment with Palforzia may be initiated in individual’s ages 4 through 17 years with a confirmed diagnosis of peanut allergy and may be continued in individuals 4 years of age and older.

Figure 2. Global Allergy Treatment Market Share (%), by Treatment, 2021

Market Restraints:

1. Lack of awareness among people about allergy immunotherapy is expected to hinder growth of the global allergy treatment market. Even though there has been a substantial increase in the number of incidences of allergies in people, allergic diseases are still largely underdiagnosed and underestimated due to lack of awareness; in both developed and developing regions.
2. Rise in preference toward the use of biosimilars is expected to hamper growth of the global allergy treatment market. A biosimilar is highly similar to, but not an exact copy of, a biologic reference product already approved by the FDA. The number of biological drugs has shown a continuous and exponential increasing trend. To date, the FDA has approved 36 biosimilars. The most recent biosimilar was approved on May 26, 2022.

Market Opportunities:

1. Rising environmental pollution levels is expected to offer lucrative growth opportunities for players in the global allergy treatment market. For instance, nowadays, air pollution is found to have a stronger link to an increased prevalence of allergies. It can also aggravate symptoms of allergic rhinitis. Studies have shown that air pollution is related to the worsening of asthma symptoms. Thus, with the increasing pollution levels, the prevalence of allergic diseases is also increasing. This in turn is expected to increase demand for allergy treatment.
2. Increasing awareness of allergy immunotherapy (AIT) among patients is expected to offer lucrative growth opportunities for players in the global allergy treatment market. For instance, Allergen immunotherapy, also known as allergy shots, is a long-term treatment that decreases symptoms for many people with allergic rhinitis, conjunctivitis (eye allergy), allergic asthma, or stinging insect allergy. Allergy shots are a form of immunotherapy that involves a series of injections of the allergen. It is a preventive treatment for allergic reactions to substances.

Market Trends/Key Takeaways:

1. Increasing demand for safe and effective is expected to augment growth of the global allergy treatment market. For instance, in August 2021, Nicolan Healthcare announced the launch of Antibiotics (Cafedra, Cafedra BR, Cafedra DX, Cafedra LS, Cafedra Syrup, and Cafedra DX Syrup) for the treatment of allergies and infections, and to control various allergy symptoms.
2. Rising development of novel allergic treatments is expected to propel growth of the global allergy treatment market. For instance, Scientists who study the immune system are beginning to understand the root cause of allergies, and are starting to work on next-generation therapies that could stop allergies in their tracks, rather than simply treating symptoms. Private investors and corporations are also pouring money into the field.

Competitive Landscape:

1. ALK-Abello AS
2. AbbVie Inc. (Allergan)
3. Allergy Therapeutics PLC
4. Bausch Health Companies Inc.
5. Alembic Pharmaceuticals Limited
6. Hoffmann-La Roche Ltd
7. Nicox SA
8. GlaxoSmithKline PLC
9. Johnson & Johnson
10. Leti Pharma
11. Dermapharm Holding SE
12. Novartis International AG
13. Sanofi SA
14. Stallergenes Greer PLC
15. Teva Pharmaceutical Industries