Allergy Treatment Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company's Allergy Treatment Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

LONDON, GREATER LONDON, UK, August 6, 2024 /EINPresswire.com/ -- The global allergy treatment market size is projected to grow from $21.19 billion in 2023 to $22.94 billion in 2024, at a compound annual growth rate (CAGR) of 8.3%. The market's expansion can be attributed to the increasing prevalence of allergies, the rising importance of self-medication, increased healthcare spending, and the growing number of patients with various types of allergies. By 2028, the market is expected to reach $30.25 billion, growing at a CAGR of 7.2%. This growth will be driven by patient-centric approaches, the expansion of over-the-counter (OTC) allergy medications, globalization and urbanization, rising environmental pollution, and improved access to health insurance.

Rising Environmental Pollution Boosts Market Growth
The rising environmental pollution is a significant factor contributing to the growth of the allergy treatment market. Environmental pollution refers to the introduction of contaminants and harmful substances into the natural environment, adversely affecting ecosystems, living organisms, and the quality of air, water, and soil. The increase in environmental pollutants heightens individuals' susceptibility to allergic conditions, intensifying the demand for effective allergy treatments. For instance, a report published by the European Environment Agency in November 2023 estimated that 253,000 premature deaths in 2021 were attributed to exposure to fine particulate matter levels exceeding World Health Organization recommendations. Nitrogen dioxide levels surpassing recommended thresholds were associated with approximately 52,000 premature deaths. These pollutants are linked to health issues such as asthma, heart disease, and stroke. Therefore, the rising environmental pollution is driving the growth of the allergy treatment market.

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Key Players and Market Trends
Major companies operating in the allergy treatment market include Pfizer Inc., Johnson and Johnson, Allergy Therapeutics PLC, F. Hoffmann-La Roche Ltd., AbbVie Inc., Novartis AG, Merck & Co. Inc., Sanofi S.A., Thermo Fisher Scientific Inc., AstraZeneca, GlaxoSmithKline PLC, Eli Lilly and Company, Boehringer Ingelheim International GmbH, Regeneron Pharmaceuticals, Bausch Health Companies Inc., Teva Pharmaceutical Industries Ltd., Almirall S.A, Akorn Operating Company LLC, Alembic Pharmaceuticals Limited, ALK-Abelló A/S, Stallergenes Greer International AG, Adamis Pharmaceuticals, HollisterStier Allergy, and Leti Pharma SL.

Technological Innovations Drive Market Trends
Advancements in technology are a key trend in the allergy treatment market. Major companies are adopting new technologies to maintain their market positions. For instance, in May 2023, Metropolis Healthcare Limited, an India-based chain of pathology labs and diagnostic centers, launched AI-powered allergy component testing based on Component Resolved Diagnostics (CRD). This testing uses artificial intelligence (AI) to aid physicians in making informed clinical decisions and offers valuable insights into choosing and optimizing an individual's allergic disease treatment plan. Driven by a nanotechnology-based multiplex system, this test can identify specific IgE antibodies against 295 different allergens using a simple blood test, offering findings for 158 food allergens, ten contact allergens, and 127 respiratory allergens.

Segments:
• By Treatment Type: Anti-Allergy Drugs, Immunotherapy
• By Type: Eye Allergy, Skin Allergy, Food Allergy, Asthma, Rhinitis, Other Types
• By Route of Administration: Oral, Parenteral, Nasal, Other Routes of Administration
• By Distribution Channels: Hospital Pharmacies, Retail Pharmacies, Online Retailers, Other Distribution Channels
• By End-Users: Hospitals, Specialty Clinics, Homecare, Other End-Users

Geographical Insights: North America is Leading the Market
North America was the largest region in the allergy treatment market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by increasing urbanization, rising environmental pollution, and growing healthcare access.

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Allergy Treatment Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Allergy Treatment Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on allergy treatment market size, allergy treatment market drivers and trends, allergy treatment market major players, competitors' revenues, market positioning, and market growth across geographies. The allergy treatment market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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