Albany, NY -- (SBWIRE) -- 11/24/2017 -- As per the projections of the TMR report, the global allergy treatment market will be worth US$41.17 bn by the end of 2025, incrementing the demand at a healthy CAGR of 5.5% during the forecast period of 2017 to 2025, adding significantly to its evaluated valuation of US$25.50 bn in 2016. The report notes the presence of quite a few local and regional players, while naming some of other prominent players such as Allergan, HAL Allergy Group, Meda Pharmaceuticals Inc., Allergy Therapeutics, Sunovion Pharmaceuticals Inc., Allergon AB, and Teva Pharmaceutical. In the near future, the report expects increased focus on high safety and efficacy drugs for the treatment of asthma and allergic rhinitis by these leading companies in order to gain advantage over their competitors.
Based on allergy type, this TMR report observes significantly stronger prevalence and consequent demand for inhaled allergy segment than food allergy and drug allergy. Allergic asthma and allergic rhinitis are two of the most common type of inhaled allergy. Treatment-wise, antihistamines accounted for the maximum demand in 2016, flourishing as a highly profitable sub-category of anti-allergy treatment. That being said, relentless research and development in the treatment category of immunotherapy is anticipated to turn lucrative through the course of the forecast period. Geographically, the report rates North America as most profitable region, serving high volume of demand as a result of growing life science industry and rising focus on research and new drug development in the developed country of the U.S.
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Presence of high unmet medical needs in various emerging economies, existence of novel molecules in pipeline, increasing prevalence of allergic rhinitis and asthma, growing consumption of tobacco, which is the primary cause of lung cancer, and upsurge of allergies as a result of environmental pollution are some of the key factors driving the demand in the global allergy treatment market. Owing to the prevalence of tobacco-caused allergic diseases, various governments across the globe have incremented their efforts to impart awareness and are offering opportunities for the vendors of this market to serve to the masses.
On the other hand, increased preference of complementary and alternative medicines (CAM), poor patient adherence and high dropout rates, lack of healthcare infrastructure in various potential countries, and high cost of allergic immunotherapy are some of the factors hindering the allergy treatment market from attaining its true potential. Nevertheless, the companies operating in the global allergy treatment market are expected to gain from a few emerging trends such as sublingual immunotherapy (SLIT), advent of SPIRE, identification of new allergen targets, and strategic alliances between prominent and promising players for novel drug development.
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A recent intelligence study by Transparency Market Research (TMR) has detected that the global allergy treatment market is dominated by ALK-Abelló A/S when it comes to immunotherapy, whereas GlaxoSmithKline plc. holds the pole position in the market in terms of anti-allergic drugs. The positions hold true for the base year of this report, the end of the year 2016. The stronghold of these two companies over the global allergy treatment market is primarily attributed to their impressive product portfolio and widespread geographical presence. The report highlights Stallergenes Greer as second strongest company currently operating in the market for allergy treatment, offering comprehensive immunotherapy solutions and broad selection of high-quality products for testing and treatment, such as sterile empty vials, sterile diluents, and single- and multiple-site skin testing devices.
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