The global seasonal allergy industry is poised for significant growth, projected to expand from USD 1.22 billion in 2023 to USD 2.58 billion by 2033, at a robust compound annual growth rate (CAGR) of 7.8%, according to a recent report by Future Market Insights. Tablets and capsules, the leading form of treatment, commanded approximately 37.1% of the market share in 2022, underlining their continued dominance in this growing sector.
Seasonal allergies, often referred to as hay fever or allergic rhinitis, occur when the immune system overreacts to environmental triggers such as pollen. These allergies are most prevalent during spring, summer, and fall when specific plants release pollen into the air, causing widespread discomfort for millions of individuals globally.
The rising incidence of seasonal allergies has spurred innovation in the sector, with manufacturers increasingly recognizing the lucrative potential of the market. Investments in research and development are paving the way for novel therapies and advanced treatment options, expanding the arsenal available to healthcare providers. This surge in innovative approaches promises to cater to a broader spectrum of patients, offering better symptom management and improved quality of life.
Despite these advancements, a significant portion of the global population continues to grapple with the annual burden of seasonal allergies, highlighting the need for continued efforts to address unmet medical needs in this area.
As consumer awareness about seasonal allergies grows, and healthcare providers emphasize early diagnosis and effective management, the market is expected to witness sustained momentum in the coming decade.
Key Takeaways from Market Study:
- Tablets/Capsules segment is set to lead in terms of the form of seasonal allergy with a projected market value share of around 33.6% by 2033, it is simple to swallow tablets and capsules because they don’t need to be prepared or measured.
- OTC medications are the most popular prescription type because they are easily accessible without a prescription and because drug stores make it simple to obtain the often-prescribed allergy medications. In 2022, OTC by prescription held a 76.3% market share.
- There are numerous treatments, but antihistamines dominate the therapy segment with a predominant share of 46.0%.
- By distribution channel, hospital pharmacies held a share of around 35.9% in 2022. Hospital pharmacies have access to an extensive selection of specialty drugs that may not be offered by retail pharmacies.
- North America held one-third value share of the global market in 2022, owing to the increasing prevalence of seasonal allergies in the region.
“With the increasing prevalence of seasonal allergies and the growing awareness about available treatment options, the market for seasonal allergy treatment is expected to witness significant growth in the coming years. Moreover, technological advancements in the development of novel therapies and the rising demand for personalized medicine are anticipated to shape the future trends in the seasonal allergy treatment market,” says an analyst of Future Market Insights.
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Market Competition:
Seasonal allergy is a market that is fragmented with multiple key players. The market participants are concentrated on developing, launching, and receiving approvals for pharmaceutical products in order to enhance treatment outcomes. Manufacturers are also anticipating mergers and partnerships.
- ALK Abello and a major pharmaceutical company, Windgap Medical, announced a partnership in August 2019 to introduce a new generation of epinephrine auto-injector pens in the United States. This aided the business in increasing its market share in the United States
- Anergis and Virometix agreed to a research partnership in July 2020 to examine synthetic virus-like particles for extremely quick allergy shots.
Key Companies Profiled:
- Merck KGaA
- Johnson & Johnson
- Allergopharma
- Sanofi SA
- McNeil Consumer Healthcare,
- Genentech Inc.
- GlaxoSmithKline PLC
- Leti Pharma,
- Alerpharma S.A
- Allergan, Inc.
- Meda Pharmaceuticals, Inc
- Novartis International AG
- Bausch Health Companies Inc.
Key Market Segments Covered in the Seasonal Allergy Industry Research:
By Form:
- Tablets/Capsules
- Liquid
- Creams & Lotions
- Drops
- Spray
By Prescription:
- OTC
- Prescription based
By Route of Administration:
- Oral
- Intranasal
- Sublingual
- Sub Cutaneous
- Intravenous
By Treatment:
- Antihistamines
- Decongestants
- Nasal Corticosteroids
- Allergen Immunotherapy
- Leukotriene Receptor Antagonists
By Distribution Channel:
- Hospital Pharmacies
- Supermarkets/Hypermarkets
- Online Pharmacies
- Retail Pharmacies
- Speciality Clinics
- Others
Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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