Wellesley, Mass., July 17, 2017 (GLOBE NEWSWIRE) —
Global demand for allergy diagnosis and treatment is poised for nearly 6% CAGR in the next five years, according to new BCC Research report. Existing drugs are losing patent protections, new therapies are growing and, geographically, the Asia market is expanding rapidly, the study found. Generic options and acquisitions are having a business impact, detailed in Global Markets for Allergy Diagnostics and Treatments and immunotherapy may shift treatment options globally.
This BCC research report is the latest examination of the world’s largest pharmaceutical and diagnostics companies in a $39.5 billion market, according to 2016 sales. Merck, GlaxoSmithKine, Pfizer, Bayer Healthcare, Procter&Gamble and Sanofi are just some of the producers seeing a single-digit percentage increase in prescriptions. More than half of the diagnostic market is spending from the U.S. But testing/diagnostic in Asia is seeing a 16 % CAGR – the smallest global market, but the fastest growing, for companies such as Alere, BeckmanCoulter, Quest Diagnostics and market-leader ThermoFisher.
- World Allergy Organization estimates that as much as 40 % of the global population has one or more allergic condition, 200-500 million people dealing with a food allergy.
- Allergy is the most common health issue for U.S. children.
- A growing immunotherapy market of vaccines and drug pipelines may challenge over-the-counter and generic treatments in the U.S.
“Foods, seasonal pollen, mold and other allergies pose a range of impacts – from minor irritation and runny noses to life-threatening anaphylactic shock. In the U.S. alone, the Centers for Disease Control says there are more than 50 million affected people,” says Robert Hunter, senior healthcare editor at BCC Research. “This is a very dynamic medical and economic marketplace with multinational players that have a significant role in everyday life for patients.”
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.
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