Many of the population suffer from allergies, frequently associated with a low quality of life characterized by the constant fear of allergen-induced reactions. Allergies hinder a person's productivity, so allergic conditions must be treated. Allergies occur when the body's immune system identifies specific substances as potentially harmful. These substances are known as allergens. An allergic reaction occurs when an allergen enters the body via the eyes, nose, skin, or digestive tract. Depending on the type of sensitivity, allergies can vary in severity. Most allergic diseases are interconnected and frequently exhibit symptoms similar to other allergies.
Approximately 6% to 8% of children under three and 3% of adults suffer from food allergies. It involves an immunogenic response to particular foods, including peanuts, shellfish, nuts, and fish in adults, and peanuts, tree nuts, eggs, wheat, and soy in children. The condition is much more severe in children unaware of how to avoid such allergens, and it can produce an allergic reaction very quickly. The painful symptoms associated with food allergies and the high incidence of anaphylaxis cause anxiety regarding food items, particularly in children who fear allergen exposure. This further contributes to occurrences such as phobia. It can also result in depression and post-traumatic stress, diminishing life quality.
Numerous new companies are entering the pharmaceutical market with an on-demand service model to expand their market presence. The on-demand service provides customer-requested services. There are numerous causes for the increasing demand for on-demand medications. The convenience of acquiring medications, their availability 24 hours daily, seven days a week, and the ability to check and stock medications contribute to this demand. In addition, online and on-demand pharmacies are advantageous in the allergy treatment market, where monthly supplies of medications are purchased. People can select a monthly, quarterly, or even annual supply of medications, for which they are rewarded with additional discounts and exceptional offers to increase their platform adherence. These advantages drive the online sales of the on-demand pharmacy market and provide enormous growth opportunities for market vendors.
North America is the most significant global allergy treatment market shareholder and is estimated to exhibit a CAGR of 5.57% during the forecast period. The segment's growth has been attributed to factors such as the increasing prevalence of allergies in the region, a mature market, and a rise in allergy-related risk factors. In addition, high awareness of allergic diseases in North America has contributed to the market for allergy treatments in the region. It has also increased the acceptance of newer therapies and medical devices for allergy management, such as immunotherapies, epinephrine autoinjectors, and inhalers, contributing to market expansion. As the region rapidly advances in industrialization and urbanization, allergy risk factors are also increasing. Multiple studies have shown that a lack of exposure to allergens in the environment during adolescent immune system development is one of the leading causes of allergies in adolescents and teenagers, making adolescents more susceptible to allergens.
Europe is anticipated to exhibit a CAGR of 7.60% over the forecast period. Europe is experiencing an increase in the prevalence of allergies. More than 150 million people in the region are believed to suffer from allergies, making it one of the most prevalent choric conditions. In the next 15 years, the European Academy of Allergy and Clinical Immunology (EAACI) predicts that nearly half of the European population will suffer from at least one allergy. In addition, approximately 17 to 30 percent of Europeans suffer from allergic rhinitis. In Europe, roughly 45 percent of the population between the ages of 20 and 45 suffers from allergic rhinitis. As the condition is grossly underdiagnosed, the prevalence is even greater in western Europe. In addition, the increasing number of companies offering immunotherapies is one of the key factors driving the expansion of the allergy treatment market. This has increased investments in clinical research concerning using SLIT and OIT, two relatively new allergy treatments.
The key global allergy treatment market players are Sanofi, GlaxoSmithKline plc, Dermapharm Holding SE, Johnson & Johnson, ALK-Abello A/S, Allergy Therapeutics, F. Hoffman-La Roche Ltd, Boehringer Ingelheim International GmbH, Stallergenes Greer, Aimmune Therapeutics, Bayer AG, Perrigo Company plc, and others.