Anti-allergic Therapeutics Market Projected to Garner Significant Revenues by 2025
Allergy is described as an abnormal or pathologic immune reaction that occurs in response to foreign material. The foreign material include pollen, dust mites, mold spores, pet dander, food, medicine and many more. Allergies can cause a variety of symptoms such as runny nose, sneezing, rashes, swelling, or itching. Symptoms can range from minor to severe. Allergies includes food allergy, allergic asthma, atopic dermatitis, allergic rhinitis, hay fever, and anaphylaxis. Anaphylaxis is a severe and life-threatening reaction that requires immediate medical treatment and hospitalization. If not treated it may be fatal. Allergies can affect anyone, but are more common in children than in adults. People suffering from asthma, or have family history of asthma or allergies are at higher risk of developing different types of allergies. About 50 million Americans suffer from allergic disease. According to World Allergy Organization, around 30-40% of the world’s population is affected with allergic conditions.
Treatment for allergy includes medicines, allergy shots, and avoiding the substances that causes the allergic reaction. Based on medicines, the Anti-allergic Therapeutics Market is segmented into antihistamine (brompheniramine and cetirizine), corticosteroids (dexamethasone), mast cell stabilizers (cromolyn), decongestants (phenylephrine), and other medicine (Anti-IgE, Leukotriene). First generation antihistamine was discovered back in 1937 for the treatment of allergies. Owing to its sedative side effect, in the early 1990s, second generation antihistamine came into the picture for the treatment of allergies. Second generation antihistamine are mostly preferred because of their non-sedating nature. Corticosteroids first introduced in the 1970s possesses different mechanisms of action but does not repress release of histamine; hence, they are commonly preferred in combination with antihistamines.
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Patent expiration of leading prescription antihistamine and corticosteroid is leading to the introduction of more generic and OTC products in the anti-allergic therapeutic market. Allergy shots are also known as immunotherapy. Allergy shots segment is expected to expand in the anti-allergic therapeutic market because it is the only treatment that changes the immune system and prevents new allergies from developing. Introduction of newer forms of immunotherapy i.e. ‘sublingual immunotherapy’ also boosts the anti-allergic therapeutic market. For instance, in April 2017, the U.S FDA approved a house dust mite sublingual immunotherapy tablet for treatment of house dust mite-induced allergic rhinitis in adults. Rise in the patient pool suffering from different types of allergies is a major factor driving the market. Changes in lifestyle, increase in environmental pollution, growing demand for advance treatment, and changes in dietary habits have also propelled the anti-allergic therapeutic market. However, high cost of therapy and side effects are the factors restraining the anti-allergic therapeutics market.
In terms of geography, the anti-allergic therapeutics market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America and Europe dominated the anti-allergy therapeutics market due to rising percentage of population suffering from allergies. In addition, presence of developed health care infrastructure, rise in environmental pollution, and increasing demand for immunotherapy for treatment have accelerated the growth of the anti-allergy therapeutic markets in these regions. Asia Pacific is an emerging market due to the rising allergic patient population pool, rapid development of health care infrastructure, growing awareness about advance treatment options, and the increase in government expenditure in the health care sector. However, poor patient awareness, lack of proper treatment, and high cost of therapy restrains the growth of the anti-allergic therapeutics market in regions such as Middle East & Africa.
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Major players operating in the anti-allergic therapeutics market include Allergy Therapeutics, Allergan, Plc., Genentech, Inc., Collegium Pharmaceutical, Inc., McNeil Consumer Healthcare, Strides Arcolab, and Allergopharma GmbH & Co. KG.