Allergy Treatment Market, By Type (Eye Allergy, Rhinitis, Asthma, Skin Allergy, Food Allergies, and Other Allergies), By Treatment (Anti-allergy Drugs and Immunotherapy), and By Geography (North America, Europe, Asia-Pacific, Middle East & Africa, and South America) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028
Allergies are body's reaction to a normally harmless substance such as pollen, molds, animal dander, latex, certain foods, and insect stings. Allergy occurs when person reacts to substances in the environment that are harmless to most people. The treatment for an allergy depends on what people are allergic to. Medications, such as antihistamines and decongestants, used as a short-term treatment for allergies. Red and itchy skin can sometimes be treated with over-the-counter creams and lotions. Allergy immunotherapy could be the option for people with severe and persistent allergies who are unable to control their symptoms using the measures above.
Market Dynamics:
Increasing incidence of allergic disease or allergies, increasing demand for allergy treatment, continuous development of novel therapies to treat allergies, and increasing awareness among people are some major factors expected to boost growth of the global allergy treatment market. Globally, the prevalence of allergic diseases is rising rapidly in both developing and developed countries. Moreover, complexity and severity continue to increase especially in both children and young adults. According to the World Health Organization (WHO), around 30-40% of the world’s population is currently affected by one or more allergic conditions.
Therefore, there is an increasing demand for safe and effective treatment. In January 2021, the European Commission (EC) approved Palforzia for the treatment of peanut allergy, making it the first treatment for the condition. Produced by Aimmune Therapeutics, Palforzia is indicated in patients aged four to 17 years with a confirmed diagnosis of peanut allergy.
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