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Global Allergy Treatment Market to Grow at a CAGR of 6.5% During 2021-2026, Aided by the Increasing Healthcare Expenditure

According to a new report by EMR titled, ‘Global Allergy Treatment Market Report and Forecast 2021-2026’, the market attained a value of nearly USD 17.9 billion in 2020. It is further expected to grow at a CAGR of 6.5% between 2021 and 2026 to reach USD 26.12 billion by 2026.

The allergy treatment industry is driven by the increasing investment by the manufacturers towards the development of novel allergic treatments, owing to the increasing cases of eye allergy and asthma. Over the forecast period, the innovative launch of immunotherapy products and their approval by the governments is likely to be a major factor driving the market. In addition, the rising concerns pertaining to allergies among infants and geriatrics are expected to further aid the market.

The increasing investments by the leading industry players to develop improved treatment options are expected to further aid the market growth in the forecast period. For instance, in February 2020, Aimmune Therapeutics took a decision to spend USD 10 million to in-license an experimental anti-allergenic biological drug from Xencor (NASDAQ: XNCR). The license was granted to Aimmune Therapeutics, which will lead to the development and commercialisation of investigational humanised monoclonal antibody XmAb7195. In another case, in February 2020, Glenmark Pharmaceuticals Ltd and Hikma Pharmaceuticals Plc entered into an exclusive licensing agreement for commercialising its novel nasal spray Ryaltris for the treatment of allergic rhinitis.

In terms of region, North America is likely to account for a significant share in the market, owing to the growing awareness about the fatality of allergies. The easy availability of antihistamines, especially in developed countries like the United States, is likely to aid the allergy treatment industry growth.

Market Breakup by Type, Treatment, and Region:

  • The market is segmented based on type into eye allergy, rhinitis, asthma, skin allergy, and food allergies, among others.
  • By treatment, the market is categorised into anti-allergy drugs and immunotherapy.
  • Region-wise, the global market for allergy treatment can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for allergy treatment is being driven by the rising cases of asthma, rhinitis, and eye allergy, among others.
  • The growing R&D activities by the key manufacturers towards the development and licensing of crucial anti-allergy drugs are likely to propel the market growth.
  • The growing popularity of immunotherapy and the associated medical solutions is anticipated to augment the market growth.
  • The market is expected to be aided by the rising healthcare expenditure and the growing health concerns.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for allergy treatment for the periods (2016-2020) and (2021-2026).
  • The report also offers historical (2016-2020) and forecast (2021-2026) market information for the types, treatments, and regions of allergy treatment.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global allergy treatment market are AbbVie Inc., GlaxoSmithKline PLC, F. Hoffmann-La Roche Ltd., Johnson & Johnson Services, Inc., Sanofi S.A., and LETI Pharma, S.L.U., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

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