The global allergy care market is estimated at USD 22 Billion in 2022 and is forecast to surpass USD 40 Billion by 2032, growing at a CAGR of 6.1% from 2022 to 2032.
The global allergy care market accounts for ~<1% of the global healthcare market in 2022. The global allergy care market is projected to have an absolute $ opportunity of USD 17 Billion during the assessment period of 2022-2032.
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This newly published and insightful report sheds light on Market Insights of Allergy Care Pills, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Allergy Care Pills Market.
Worldwide prevalence of allergic ailments continues to rise, with growing sensitization rates to common allergens, particularly among children. In the U.S. alone, allergies are sixth-leading cause of chronic diseases, with an annual allergy healthcare cost of over US$ 18 billion, according to the Centers for Disease Control and Prevention (CDC). A recent study of Fact.MR foresees allergy care market to continue on its steady trajectory, to exceed revenues worth US$ 5,500 Mn in 2018
The allergy care market is expected to remain consolidated among Tier 1 players, who currently account for approximately 75% share. While these players are focusing on expansion in manufacturing facilities and strategic alliances with regional distributors, small and mid-sized players are eyeing partnerships with local players and strengthening their regional presence.
Allergy care medication sales will remain consolidated in drug & pharmacies stores, accounting for over 50% share in 2018. Availability of a wide variety of kits in drug stores, devoid of the need for prescription has further led affected individuals to buy medicines respective to their ailments from these stores. However, online retailers are fast gaining palpability in the allergy care market, enabling consumers to purchase their medication with the comfort of their home and at relatively affordable costs.
Revenues from Antihistamine Medication to be 1.5X of Nasal Spray
Antihistamine medication has traditionally been in high demand, with over US$ 2000 Mn worth sales estimated in 2018. Revenues from antihistamine medication is expected to be nearly 1.5X than those from nasal spray sales worldwide in 2018. Antihistamines have emerged as an effective medication to manage allergies such as urticarial, conjunctivitis, and rhinitis. Newer antihistamines introduced in the market are less sedative their traditional counterparts, and are deemed efficacious through head-to-head long-term studies.
GPs from leading healthcare institutes have been working on the assessment of allergy management support system’s (AMSS) feasibility for IgE-mediated allergy care. Effective development of an AMSS would further aid GPs in handling the increasing burden of managing allergic diseases, as well as facilitate diagnosis and treatment of various allergy-affected individuals. However, further research is essential for rolling out the technology on a full scale.
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Emphasis on Telemedicine for Improving Clinical Outcomes
Healthcare specialists are focusing on allergies are using telemedicine in a bid to enhance clinical outcomes, and reduce travel issues associated with the affected individuals, according to the American College of Allergy, Asthma and Immunology (ACAAI). Designed for providing high-quality care, telemedicine services make effort to gather complete and accurate information clinical information of allergic patients.
Use of telemedicine for allergy care is expected to increase in line with broader application of telehealth in medicine. Several allergists currently perform initial visits by telemedicine for determining requirement of in-office testing. According to the ACAAI, telemedicine holds immense potential in reducing cost for immunologists and allergists alike.
A streamlined process for the multistate licensure is vital for expansion of the telemedicine allergy care. This would further facilitate access to specialty care, allow governments to retain regulatory authority and individual licensing. Current focus is on implementation of a standardized, explicit codes for enabling practitioners in seeking reimbursement for virtual encounters.
Scientists who study immune system have commenced understanding root cause of allergies, working on next-generation therapies to eliminate allergies right from their tracks. Several allergy therapies are becoming more specific and customizable with respect to patients.
Fact.MR’s study also offers an accurate forecast of the allergy care market for the period between 2018 and 2027. The study foresees the allergy care market to record an average CAGR of over 4% through 2027.
Allergy Care Market Structure
The allergy care market report offers a detailed taxonomy based on various segments, such as by product type, by sales channel, by form, and by region.
By product type, the allergy care market has been classified as nasal spray, antihistamine medication, and eye drops. By form, the allergy care market has been classified as tablets/gells/pills, sprays, and liquids.
The sales and distribution framework in the allergy care market has been classified as drug and pharmacies, modern trade, departmental stores, institutional sales, monobrand stores, and online stores.
The growth of allergy care market has been gauged across primary regions such as North America, Latin America, Europe, Japan, APEJ, and MEA.
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Key Question answered in the survey of Allergy Care Pills market report:
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- Market Analysis of Allergy Care Pills
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- Key Drivers Impacting the Allergy Care Pills market
- Which are the Key drivers impacted by Allergy Care Pills market
- Restraints Shaping Market Growth
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More Valuable Insights on Allergy Care Pills Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Allergy Care Pills, Sales and Demand of Allergy Care Pills, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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