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The global medical spa market size is estimated to reach $29,542.33 million by 2030, growing at a CAGR of 9% from 2021 to 2030.
PORTLAND, OREGON, UNITED STATES, August 12, 2022 /EINPresswire.com / -- Allied Market Research recently published a report, titled, 'Allergy Treatment Market by Type (Eye Allergy, Rhinitis, Asthma, Skin Allergy, and Other Allergies), Treatment (Anti-Allergy Medicine and Immunotherapy) and End User (Hospital, Clinics, Pharmacy, and Others) - Global Opportunity Analysis and Industry Forecast, 2018-2025'. The report presents comprehensive analyses of the global market by analyzing the market dynamics, top investment pockets, key player positioning, and competitive landscape. According to the report, the global allergy treatment market garnered $24.65 billion in 2017 and is expected to reach $40.36 billion by 2025, registering CAGR of 6.3% from 2018 to 2025.
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Increased prevalence of allergens and high consumption of tobacco that can induce several allergies drive the growth of the global allergy treatment market. However, patent expiries, competition from generic drugs, and availability of alternative and complementary therapy hamper the market growth. On the contrary, rise in awareness among patients regarding food allergies is expected to create lucrative opportunities for the market players in the next few years.
An allergy is defined as a hypersensitive reaction to various foreign substances by the immune system. The substances that trigger an allergy are called allergens. Examples include pollens, dust mite, molds, pet dander, certain foods, and others. Patients prone to allergies are said to be allergic or atopic. The allergy treatment market is anticipated to grow at a fast pace owing to the rise in focus on new treatment developments for allergy specific drugs, advent of immunotherapy, and increase in prevalence of allergies across the globe.
Based on type, the rhinitis segment generated the highest revenue in 2017 and is expected to maintain this dominance throughout the forecast period. This is attributed to the increased prevalence of allergic rhinitis across the globe. For instance, according to the European Academy of Allergy and Clinical Immunology (EAACI), around 400 million patients suffer from rhinitis. However, the food allergy segment is expected to register highest growth rate during the forecast period.
Key Findings of the Allergy Treatment Market:
•Based on type, the rhinitis and asthma segments dominated the global allergy treatment market in 2017 and are expected to maintain this trend during the forecast period.
•Based on treatment, the immunotherapy segment is expected to register the highest CAGR of 8.5% from 2018 to 2025.
•U.S. generated the highest revenue in the global allergy treatment market in 2017, accounting for more than half of the market in North America.
•Asia-Pacific was the highest contributor in the allergy treatment market in 2017 and is anticipated to experience rapid growth during the forecast period.
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North America to hold largest share
North America contributed about one-third share of the total market revenue in 2017. It is estimated to lead the market throughout the forecast period, owing to the well-established healthcare infrastructure and increase in adoption in immunotherapy solutions to treat allergic diseases. However, Asia-Pacific region would portray the fastest CAGR of 7.5% through 2025, owing to rise in prevalence of various allergic diseases such as asthma and rhinitis in the region. The other regions analyzed in the report are Europe and Latin America, Middle East and Africa (LAMEA).
Key market players
The global allergy treatment market report includes various leading companies in the market such as GlaxoSmithKline, Allergopharma, Allergan, Inc., Schering-Plough Corporation, Collegium Pharmaceutical, Inc., Allergy therapeutics, Allergon, Genentech Inc., McNeil Consumer Healthcare, and Meda Pharmaceuticals, Inc. The market players have adopted several strategies including partnerships, collaboration, mergers & acquisitions, and new product launch to maintain its leadership in the market.
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Allergy is a hypersensitive reaction by the patient's immune system in response to certain substances. The substances that stimulate the immune system in response are known as allergens. Different allergens are responsible to cause various types of allergic reactions. Allergy is one of the major health concerns globally. The allergy treatment market has piqued the interest of the healthcare industry due to significant increase in the prevalence of various allergies in the recent years. Among all allergies, rhinitis and asthma are the most prevailing diseases, both in the developing as well as developed economies. However, incidents of food allergies have also been on the rise over the years across the globe.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of 'Market Research Reports' and 'Business Intelligence Solutions.' AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with vario research data tables and confirms utmost accuracy in our market forecasting. Each and ever us companies and this helps us in digging out market data that helps us generate accurate y data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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