North America Tops the Global Allergy Care Market Accounting For 23.8% of Global Market Share In 2022

The prevalence of allergic diseases is increasing globally, and common allergen sensitization rates are rising, especially among children. According to the Centers for Disease Control and Prevention, allergies are the sixth most common cause of chronic diseases in the U.S. alone. The cost of treating allergies each year is over US$ 18 billion (CDC). According to a recent Fact.MR study, the market for allergy care will continue to grow steadily and surpass US$ 5,500 Mn in revenues in 2018.

 

The Tier 1 players, who currently hold a share of about 75% of the allergy care market, are anticipated to maintain their dominance. Small and mid-sized players are looking to partnerships with local players and strengthening their regional presence, while these players are concentrating on the expansion of manufacturing facilities and strategic alliances with regional distributors.

 

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The Tier 1 players, who currently hold a share of about 75% of the allergy care market, are anticipated to maintain their dominance. Small and mid-sized players are looking to partnerships with local players and strengthening their regional presence, while these players are concentrating on the expansion of manufacturing facilities and strategic alliances with regional distributors.

 

In 2018, drug and pharmacies stores will continue to account for over 50% of sales of allergy care medications. The ability to purchase a variety of kits at drug stores without a prescription has further encouraged those who are afflicted to purchase the medicines necessary to treat their conditions from these establishments. However, online retailers are quickly gaining ground in the allergy care industry by allowing customers to buy their medications from the convenience of their homes at relatively low prices.

 

Antihistamine drug sales will bring in 1.5 times as much money as nasal spray

 

Antihistamine medications have historically been in high demand, with estimated sales of over US$ 2000 Mn in 2018. In 2018, it is anticipated that worldwide sales of nasal spray will be nearly 1.5X lower than those of antihistamine medications. In recent years, antihistamines have proven to be a successful treatment for allergies like urticarial, conjunctivitis, and rhinitis. Newer antihistamines on the market are less sedative than their older counterparts and have been shown in long-term studies to be effective.

 

Leading medical institutions' GPs have been evaluating the viability of the allergy management support system (AMSS) for treating IgE-mediated allergies. The successful creation of an AMSS would make it easier for doctors of general practise to manage the growing burden of allergic disease management and to diagnose and treat a variety of allergy sufferers. However, more investigation is required before the technology can be fully implemented.

 

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Emphasis on Telemedicine for Improving Clinical Outcomes

 

The American College of Allergy, Asthma and Immunology reports that healthcare professionals who specialise in allergies are using telemedicine in an effort to improve clinical outcomes and lessen the travel problems that affected individuals experience (ACAAI). Telemedicine services, which are intended to deliver high-quality care, make an effort to collect complete and accurate clinical information of allergic patients.

 

As telehealth in medicine becomes more widely used, telemedicine's use for allergy care is anticipated to rise. Several allergists currently conduct initial visits via telemedicine to ascertain whether in-office testing is necessary. The ACAAI asserts that telemedicine has enormous potential to lower costs for allergists and immunologists alike.

 

The expansion of telemedicine allergy care depends on a streamlined multistate licencing procedure. Access to specialty care would be made easier as a result, and governments could continue to exercise their regulatory and individual licencing powers. The current focus is on implementing explicit, standardised codes to help practitioners get paid for virtual encounters.

 

Immunology researchers have started to understand the underlying causes of allergies and are developing cutting-edge treatments to stop allergies in their tracks. Numerous allergy treatments are becoming more patient-specific and adaptable.

 

The study by Fact.MR also provides a precise forecast for the market for allergy care from 2018 to 2027. Through 2027, the study projects that the market for allergy care will experience an average CAGR of more than 4%.

 

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Global Allergy Care Market by Category

• By Allergy Type :
• Eye Allergy
• Skin Allergy
• Food Allergy
• Other Allergies (Rhinitis)

 

• By Product Type :
• Nasal Spray
• Antihistamine Medication
• Eye Drops

 

• By Form :
• Tablet/Gels/Pills
• Sprays
• Liquids

 

• By Sales Channel :
• Drug & Pharmacies Stores
• Modern Trade
• Departmental Stores
• Institutional Sales
• Monobrand Stores
• Online Retailers

* This article was originally published here