Global Anti-Allergic Drugs Market Forecast to 2030 - Covid-19 Impact Analysis (By Type of Allergy: Food Allergy, Skin Allergy, Indoor and Outdoor Allergies, Insect Allergy, Drug Allergies, Latex Allergy, Others; By Medication: Corticosteroids, Antihistamines, Epinephrine, Decongestants, Allergen Immunotherapy, Others; and By End-Users: Hospitals, Clinics, Ambulatory Clinics, Others) - Global Market Size, Industry Trends, Competitive Landscape, and Opportunities
The global anti-allergic drugs market size accounted for US$ 26,234 Mn in 2021 and is anticipated to reach US$ 47,566 Mn by 2030 with a CAGR of 6.8% from 2022 to 2030.
When your immune system body reacts to a "foreign" substance, you get an allergy. When you have an allergy, substances that are normally innocuous and don't bother some individuals, such as dust or animal dander, irritate you! These substances are perceived as "foreign" by your body, causing an overreaction by your defense system, which includes the release of histamine. Allergens are the substances that cause the overreaction. An allergic reaction is the term for the symptoms that result. Allergies are one of the world's most common chronic illnesses. In the United States, between 40 and 50 million people have them.
However, allergic reactions have the same physiological mechanism in everyone. Allergens enter the body through a variety of routes, including ingestion, inhalation, and skin and mucous membrane contact. This causes white blood cells to produce an antibody that binds to mast cells. Mast cells rupture, releasing biochemical substances such as histamine in the process. A runny nose, tchy, watery eyes, scratchy throat, and a rash are all mild allergy symptoms. Swelling of the throat, wheezing, and difficulty breathing are more severe, life-threatening allergy symptoms. Allergies have no known cure. Allergies can be managed through prevention and treatment. Allergies are one of the most common but underappreciated diseases in the United States.
The market's growth is expected to be aided by the rising incidence of various types of allergies. According to a study published in 2020 by the Food Allergy Research and Education Foundation, 32 million Americans, including 5.6 million children under the age of 18, suffer from food allergies. Around 40% of children with food allergies seem to be allergic to a variety of foods.
The global allergy treatment market is being driven by a significant rise in the frequency of allergic diseases, a shift in consumer preferences toward over-the-counter allergy treatment, and an increase in consumer self-medication. Increased use of biosimilars, as well as safety and efficacy concerns about the side effects associated with heavy use of anti-allergy drugs, are expected to stifle the allergy treatment market's growth. Increased R&D and surged awareness of immunotherapy for the cure of allergies among medical experts and patients are expected to provide lucrative opportunities in the future.
The global anti-allergic drugs industry is divided into three categories: allergy type, medication, end-users, and region. Food allergy, skin allergy, drug allergies, indoor and outdoor allergies, latex allergy, insect allergy, and other allergies are all segmented based on the type of allergy. According to our research, the market for anti-allergic drugs will be dominated by food allergies in the coming years. Each year, food allergies cost about $25 billion. The majority of food allergy reactions are caused by nine foods. Soy, milk, peanuts, eggs, fish, wheat, sesame, tree nuts, and shellfish are all on the list. Food allergies have become more common among children in the United States over the last two decades, with Black children experiencing the greatest increase.
The medication segment is further categorized into antihistamines, epinephrine, corticosteroids, allergen immunotherapy, decongestants, and others. Among them, antihistamines segment achieved a significant amount of market share in 2021. There are two types of antihistamines used to cure allergy symptoms: sedating and non-sedating. The older antihistamines fall into the first category. These allergy medications help with symptoms, but they also induce hallucinations and other side effects, such as dry mouth. Even though newer antihistamines are seen to be non-sedating, some people may encounter drowsiness. Furthermore, the end-users segment covers into hospitals, clinics, ambulatory clinics, and others.
Global Anti-Allergic Drugs Market Geographical Competition
The global Anti-Allergic Drugs industry is divided into North America, Europe, Latin America, Asia-Pacific, and the Middle East and Africa. During the forecast period, North America is expected to dominate a significant share of the global market anti-allergic drugs market. The increasing number of individuals who suffer from allergies is one of the major factors driving the global growth of anti-allergic drugs. In the coming years, Asia Pacific, on the other side, is expected to have the highest CAGR. The rapid changes in healthcare infrastructure are a major driver of the global market for anti-allergic drugs. Anti-allergic drugs will have the second largest share in Europe. The market for anti-allergic drugs is expanding as the demand for immunotherapy treatments grows.
Global Anti-Allergic Drugs Industry Segment Analysis
Market By Type of Allergy
· Food allergy
· Skin Allergy
· Drug Allergies
· Indoor And Outdoor Allergies
· Latex Allergy
· Insect Allergy
· Other Allergies
Market By Medication
· Allergen Immunotherapy
Market By Antihistamines
· Ambulatory Clinics
Anti-Allergic Drugs Market Leading Companies
This section of the study honors the market's top vendors Allergan, Plc, Allergy Therapeutics, Genentech, Inc., Allergopharma GmbH & Co. KG., Strides Pharma Science Limited, McNeil Consumer Healthcare, Collegium Pharmaceutical, are the key companies mentioned in the research.
Anti-Allergic Drugs Market Regions
· Rest of Europe
· Rest of Latin America
· South Korea
· Rest of Asia-Pacific
Middle East & Africa
· South Africa
· Rest of Middle East & Africa