Allergy Immunotherapy Market is Predicted to Exceed $3.1 Billion By 2027 | Grand View Research, Inc

Allergy Immunotherapy Market is Predicted to Exceed $3.1 Billion By 2027 | Grand View Research, Inc

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According to report published by Grand View Research, the global allergy immunotherapy market size was valued at USD 1.6 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 9.0% from 2020 to 2027.

The global allergy immunotherapy market size is expected to reach USD 3.1 billion by 2027 registering a CAGR of 9.0%, according to a new report by Grand View Research, Inc. Rising prevalence of allergic conditions is expected to boost the market growth. According to the American academy of allergy, asthma and Immunology (AAAAI), global prevalence of allergic rhinitis ranges from 10% to 30%. Along with that, hay fever affects 7.8% of the adult population in U.S. alone.

Due to the rising usage of vehicles all over the globe and the outpour of pollutants from them on a large scale is considered to be one of the prominent causes of boosting the global burden of allergies. It plays a crucial role in pushing the rate of asthma and allergic disorders of the respiratory tract. As per Asthma and Allergy Foundation of America (AAFA) more than 25 million allergies are caused due to increased pollen counts.

In recent times, due to the rising prevalence of these diseases, multiple companies and economies have focused on reducing the debilitating effect of allergies on their human resource by pushing for the R&D in treatment therapies. Multiple treatment therapies have been improved and play a crucial role in the treatment of related diseases. These therapies are known as Subcutaneous Immunotherapy (SCIT) and Sublingual Immunotherapy (SLIT). SLIT can be adhered to by two methods, such as by taking tablets or by the means of drops. Several countries have taken initiatives to boost the adoption of Allergy Immunotherapy, worldwide. These economies are:

North America

  • The U.S.
  • Canada

Europe

  • Germany
  • France

Asia Pacific

  • Japan
  • China

Latin America

  • Brazil
  • Mexico

MEA

  • South Africa
  • Saudi Arabia

COVID-19 has helped in spreading the awareness regarding the importance of respiratory health all over the world. This has pushed people to keep their respiratory health in top notch and seek medical help to achieve it. Allergy immunotherapy is one such way to achieve that, and has received demands from every corner, leading to increase in growth rate for the market.

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China allergy immunotherapy market size, by treatment type, 2016 - 2027 (USD Million)

Further key findings from the study suggest:

  • Subcutaneous Immunotherapy (SCIT) segment generated the maximum revenue in 2019 as SCIT is the most effective and highly adopted form of allergy immunotherapy
  • SCIT can be used for the treatment of a wide range of disorders including allergic rhinitis, asthma, and stinging insect hypersensitivity
  • However, Sublingual Immunotherapy (SLIT) has emerged as a safe & effective alternative for SCIT
  • During SLIT, the allergen is administered under the tongue in the form of tablets or drops
  • Allergic rhinitis was the largest revenue-generating segment in 2019 and is estimated to maintain its dominance throughout the forecast period owing to the high disease burden across the globe
  • Hospital pharmacy segment held the largest share in 2019 owing to a rise in the patient pool for treatment of allergic disorders in hospitals
  • Subcutaneous Immunotherapy (SCIT) segment generated the maximum revenue in 2019 as SCIT is the most effective and highly adopted form of allergy immunotherapy
  • SCIT can be used for the treatment of a wide range of disorders including allergic rhinitis, asthma, and stinging insect hypersensitivity
  • However, Sublingual Immunotherapy (SLIT) has emerged as a safe & effective alternative for SCIT
  • During SLIT, the allergen is administered under the tongue in the form of tablets or drops
  • Allergic rhinitis was the largest revenue-generating segment in 2019 and is estimated to maintain its dominance throughout the forecast period owing to the high disease burden across the globe
  • Hospital pharmacy segment held the largest share in 2019 owing to a rise in the patient pool for treatment of allergic disorders in hospitals

Global allergy immunotherapy market share, by distribution channel, 2019 (%)

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Major Key Players:

  • ASIT Biotech
  • Circassia
  • Mylan N.V.
  • Adamis Pharmaceuticals Corporation
  • Merck KGaA
  • Stallergenes Greer plc
  • Allergy Therapeutics
  • ALK-Abelló A/S
  • DESENTUM OY
  • HAL Allergy B.V.
  • HollisterStier Allergy
  • LETIPharma
  • DBV Technologies SA

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Some Recent Developments:

  • In February 2020, it was notified that Germany’s science and pharma company Merck KGaA is selling its allergy business Allergopharma to Dermapharm, a German off-patent branded medicines manufacturer. The transaction encompasses the Allergopharma business in Europe and Asia, including the therapeutic and diagnostic product portfolio as well as the production site in Reinbek near Hamburg (Germany). This will help Merck in reducing its debt and Dermapharm will get a boost to its product portfolio and market reach.
  • In October 2019, Stallergenes Greer Ltd. collaborated with Anergis, a Switzerland-based clinical-stage biopharma company, to initiate a research study focused on the evaluation of the second-generation contiguous overlapping peptides allergen immunotherapy for birch pollen allergy. This project received a boost, as in MAY 2020, the collaborative study was published. This study evaluates the effects of second-generation Contiguous Overlapping Peptides (COP) allergen immunotherapy in a therapeutic model of birch pollen allergy, with the aim of shortening AIT administration schemes. It will be invaluable for the pharma companies and will help find novel products for the consumers.
  • In July 2019, Novartis AG made its generic pre-filled epinephrine shots immediately available in local pharmacies across the United States, as a shortage of Mylan NV’s EpiPen emergency allergy shot dragged on due to manufacturing problems. This was an important step to stop the shortage to become severe and helped many patients breathe easy.

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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