Global Allergy Treatment Market Expected to Deliver Dynamic Progression until 2027
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.
[USPRwire, Wed Jan 16 2019] A new research study by Fact.MR offers in-depth analysis and insights on the global allergy treatment market. According to the research study, allergy treatment market is likely to rake in revenues worth US$ 5,500 million in 2018.
According to the research study, allergy treatment market is likely to remain consolidated, with top players accounting for a major share of the market. As per the study, Tier I players currently hold nearly three-fourth revenue share of the allergy treatment market currently.
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Analyzing the sales scenario in the allergy treatment market, the research study opines that online sales are likely to gain ground, as many allergy care products do not require prescription. Although online sales are likely to build up, drugs & pharmacy stores continue to hold the leading share of the market.
The study also analyzes the allergy treatment market on the basis of drugs sold globally. According to the study, antihistamine medication is likely to remain in high demand, owing to innovation in drug development. According to the study, sales of antihistamine medication are likely to surpass US$ 2 billion in revenues in 2018.
Allergy treatment market growth is also likely to be influenced by growing focus on managing allergy through less potent drugs. The allergy treatment landscape is also witnessing growing adoption of technology, such as telemedicine to provide quality care to patients.
Although the medicines available in the market can help considerably in allergy treatment, continuous use of medicines for a long time brings with it its own share of challenges. According to the study, allergy treatment providers are also including immunotherapy as a part of the treatment process to reduce dependency on medicines.
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The Fact.MR study on allergy treatment market offers a bullish perspective, however, lack of awareness, combined with reluctance among patients, is a key impeding factor. According to the study, a significant population with allergy issues discards them as trivial, preventing effective care and treatment. According to the study, allergy treatment players are investing in advertising to disseminate information about the effectiveness of allergy treatment products.
The research study also profiles the key strategies of allergy treatment market players. According to the study, mergers & acquisitions and collaborations between industry and institutions is growing. For instance, Johnson & Johnson is focusing on adding advanced sterilization products to its portfolio. In order to consolidate its position in the advanced sterilization products market, the company announced a binding offer from Fortive. Another key player in the allergy treatment market, announced the acquisition of Bioverative in 2018. The move is aimed at strengthening its position in the treatment of rare diseases. The company acquired the acquisition of Bioverative for over US$ 11 billion.
The research study on allergy treatment market tracks the sales of various allergy care products in terms of volume. The key allergy treatment products analyzed in the research study include nasal sprays, antihistamine medication, and eye drops. According to the study, in addition to antihistamine medication, nasal sprays and eye drops also remain key measures for allergy treatment.
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