The expanding database of Fact.MR has been recently updated by the addition of a new study which is titled as "Allergy Care Market – Valuable Growth Prospects and Insights on Future Scenario (2018-2027)". The fact-based research report on the global Allergy Care market covers various aspects such as trends, drivers, challenges and opportunities that have an influence on the growth and expansion of the global market. All these factors are analyzed across key regions of Latin America, North America, Europe, Middle and Africa (MEA) and the Asia Pacific. In order to provide an accurate forecast, analysts have presented the current market, which forms the basis of how the metal caps and closures market is expected to develop in the future.
Allergy care market remains highly consolidated, with leading players holding around 70-75 revenue share. The focal point of these leading players in the allergy care market is expansion of manufacturing facilities to rev up their production capabilities. Moreover, these companies are also focusing on strategic collaborations with healthcare professionals to excel in multiple activities, ranging from preclinical research to clinical development.
The tier 2 or mid-level players in the allergy care market are oriented toward solidifying their regional presence. Likewise, the emerging players or their tier 3 players are highly focused on specific product segments and boosting their volume sales.
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The use of technologies, such as telehealth and telemedicine, in case of allergy care represents one of the evolving trend gaining prominence and is supported by prominent authorities. Technologies as such enable effective allergy care by enhancing the patient-physician collaborations, resulting in enhanced clinical outcomes. Moreover, healthcare specialists across the globe are also eyeing these technologies to boost their bottom line by treating multiple patients within stipulated timespan.
Few of the prominent authorities, such as the American College of Allergy, Asthma and Immunology (ACAII), are supporting use of telemedicine and telehealth in the field of allergy care. Relative efficiency and improved results offered by such technologies pinpoint their future penetration into the allergy care market, thereby contributing to the overall market size.
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.
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.
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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.
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.
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