Allergy Treatment Market Set to Grow at a CAGR of 6.7%, Reaching USD 36.47 Billion by 2030

Allergy Treatment Market Set to Grow at a CAGR of 6.7%, Reaching USD 36.47 Billion by 2030

 

According to industry analysts at Next Move Strategy Consulting, the global Allergy Treatment Market is on track to reach USD 36 billion reflecting a CAGR of 7% by 2030. This growth is driven by increasing allergy prevalence, innovations in medication, and personalized treatment strategies that improve patient outcomes and quality of life.

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Allergy treatment, also known as the allergy therapeutics market, encompasses a diverse array of medications designed to manage and reduce allergic reactions. These treatments include antihistamines, decongestants, corticosteroids, immunotherapies, and biologics, addressing a wide variety of allergic conditions.

Key Market Trends and Drivers
The allergy treatment market is experiencing substantial growth due to several key factors:

  1. Rising Allergy Prevalence: A significant surge in allergic conditions is propelling the demand for allergy treatments. Approximately 30-40% of the global population suffers from one or more allergic conditions, according to the Global Allergy & Airways Patient Platform (GAA). Environmental changes, pollution, and shifting lifestyles are all contributing to this increase.
  2. Advances in R&D and Personalized Medicine: The focus on research and development (R&D) for new allergy treatments is accelerating market growth. For instance, the FDA approved Xolair in February 2024, the first medication designed to reduce food allergies in both children and adults. Additionally, advancements in diagnostic technologies are enabling more personalized allergy treatments, leading to better patient outcomes.
  3. Aging Population: As the global population ages, the number of individuals at risk of developing allergies is rising due to declining immune systems and the presence of chronic diseases. The United Nations Population Fund reports that by 2074, people over 65 years of age will represent 20.7% of the global population. This demographic shift is further propelling the demand for allergy therapeutics.
  4. Increasing Government Support: Significant investments by governments, particularly in regions like North America and Asia-Pacific, are driving the development of advanced allergy diagnostics and treatments. For example, the Canadian government invested USD 33.96 million in 2023 to develop the National Food Allergy Action Plan.

Challenges and Opportunities
Despite market growth, the shift toward herbal remedies poses a challenge, as many patients perceive these options as natural and safer alternatives. However, personalized immunotherapy, which tailors treatments to an individual's specific allergens and immune responses, offers a promising solution to overcoming this challenge.

Market Segmentations
The allergy treatment market is segmented into the following categories:

  • By Type: Eye Allergy, Food Allergy, Skin Allergy, Asthma, Rhinitis, Others
  • By Treatment: Anti-Allergy Drugs, Immunotherapy
  • By End-User: Hospitals, Specialty Clinics, Homecare, Others
  • By Distribution Channel: Online, Offline Pharmacy
  • By Region: North America, Europe, Asia-Pacific, Rest of World

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Geographical Insights
North America leads the allergy treatment market, owing to the high prevalence of allergic conditions, such as rhinitis, asthma, and food allergies. In the U.S., over 50 million people were diagnosed with allergies in 2023, with this number expected to rise.

The Asia-Pacific region is witnessing steady growth due to the aging population in countries like Japan and China, where the elderly are more susceptible to allergic reactions. The development of molecular and AI-powered diagnostic tools in the region is also enhancing treatment options and driving market expansion.

Competitive Landscape
Key players in the allergy treatment market include Glenmark Pharmaceuticals Ltd., Perrigo Company plc, GlaxoSmithKline plc, Merck & Co., Inc., AbbVie Inc., Novartis International AG, and others. These companies are focusing on product innovations to maintain a competitive edge in the market.

For example, Entod Pharmaceutical Ltd. launched Lactoshield RH, a probiotic designed to manage allergic conditions like rhinitis, offering a non-pharmacological alternative. Similarly, Hikma Pharmaceuticals plc introduced Ryaltris for seasonal allergic rhinitis, enhancing its position in the U.S. market.

Conclusion
The Allergy Treatment Market is poised for significant growth, fueled by rising allergy rates, advancements in drug development, and the aging population. The market's evolution is driven by the increasing demand for personalized treatments and innovations in diagnostic technologies. With key players continuing to invest in research and development.

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