Allergy Treatment Medicine Market Investigation Monitors Prominent Growth Trends Recorded during Forecast Period || Key Players - Johnson & Johnson Inc., Bayer AG, Abbott Laboratries, Merck Ltd., Sanofi-Aventis U.S. LLC
Allergy care market report offers a scrutinized and detailed analysis on the allergy care market for the period, 2018 to 2027. Key allergy care market growth influencers, such as drivers, restraints, trends, and opportunities, along with a detailed segmental analysis of allergy care market have been included for enhanced understanding of the readers apropos of allergy care market.
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.
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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.
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.
Allergy cases are rapidly increasing in prevalence, making the heavy dependency on pharmacotherapy for treatment seem unfeasible. As per a revelation by the Centers for Disease Control and Prevention (CDC), allergies stand as the 6th leading cause of chronic illness in the U.S. alone, with an annual cost of around $18 billion. Furthermore, a population of more than 50 million Americans suffers from different kind of allergies every year. According to the European Academy of Allergy and Clinical Immunology (EAACI), more than 150 million Europeans suffer from chronic allergic diseases as per the current scenario and half of the entire EU population is foreseen to be affected by 2025.
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.
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