According to a recent study published by the Market Research Future analysts, the global allergy immunotherapy market is growing at a double digit growth rate; mainly due to launch of the new sublingual immunotherapies in emerging economies, introduction of several allergen immunotherapy tablets (AITs) by major players, increase in risk factors causing allergies, rise in the screening rate for allergies, and current reimbursement scenario. The World allergy immunotherapy market has been evaluated as a rapidly growing market and it is expected to continue growing in the near future. Allergy immunotherapy is a disease-adapting therapy, effective for the treatment allergic rhinitis/conjunctivitis, allergic asthma, peanuts allergy, cat allergy, and stinging insect hypersensitivity. According to the World Allergy Organization (WAO), approximately 10%-40% of the global population is suffering from allergy in 2013.
Increasing demand for advance allergy treatment, increasing research and development activity, increasing research in improving the allergy treatment and introduction of new immunotherapeutic drugs are the major driving forces for the global allergy immunotherapy market. The demand for allergy immunotherapy treatment in emerging markets of Asia and Latin America is continuously growing that is another major factor for the market growth. Increasing knowledge of the immunotherapy, new product launches, increasing funding for R&D, and approvals are leading the market growth.
The Allergy Immunotherapy Market is expected to grow at the CAGR of ~10.85% during the forecast period and is estimated to reach USD 4,324.7 million by 2023.
Taste the market data and market information presented through more than 77 market data tables and figures spread over 88 pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Allergy Immunotherapy Market Research Report–Global Forecast to 2023.”
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Global Allergy Immunotherapy Market – Competitive Analysis
The countries like China is showing rapid growth in Asia Pacific region. Companies are investing large amount of money for business expansion in this region due to its high potential market growth. Technological advancement is also playing important role in this market by providing effective diagnostic and treatment options that leading to high success rate of Allergy Immunotherapy treatments. Changing healthcare practices, increasing healthcare expenditure and extended insurance cover are creating path for the growth of this market. There are large numberof companies involved in the development of the drugs and therapies for the allergy which are now being used in majority part of the developed countries. Global market for allergy immunotherapy is majorly dominated by six companies namely ALK-Abelló A/S, Stallergenes Greer, HAL Allergy Group, Allergy Therapeutics, Merck Group, and others. ALK-Abello taking about 38%, and Stallergenes Greer capturing 23%, these two companies hold more than half the global market for allergy immunotherapy. ALK-Abelló A/S offers allergy immunotherapy products in the form of injections, sublingual drops and sublingual tablets. In January 2017, the company has acquired the operating assets in Allergy Laboratory of Oklahoma Inc., and Crystal Labs LLC. Back in 2015, the company took over the allergy immunotherapy activities of its former distributor in Turkey, Albio Allerji Ürünleri Ith. Ve Tic. Ltd. Sti. (Albio). Another big player, Stallergenes Greer was form in 2015 by the union of two companies Stallergenes, and Greer. The company has adapted strategy of mergers and acquisitions for its growth in the allergy immunotherapy market. It provides both sublingual and subcutaneous immunotherapies. Besides that, HAL Allergy is one of the leading companies in the field of allergen immunotherapy (AIT). Apart from these major companies, there are players like Sementis, Biomay AG, Adamis Pharmaceuticals Corporation, DBV Technologies, Circassia, and others which manufactures particular types of subcutaneous and sublingual immunotherapy majorly operate in specific regions and countries.The global market consist of players such as ALK Abello A/S (Denmark), Allergy Therapeutics (UK), Circassia (UK), DBV Technologies (France), Stallergenes Greer (UK), Merck KGaA (Allergopharma) (Germany), and HAL Allergy Group (Netherlands) are some of the prominent players at the forefront of competition in the global allergy immunotherapy market and are profiled in MRFR Analysis report.
Allergic Rhinitis segment accounts for the largest market share in the global Allergy Immunotherapy market while peanut allergy segment is projected to grow at a CAGR of 11.30% during the forecast period from 2017 – 2023.Subcutaneous Immunotherapy (SCIT) segment accounts for the largest market share in the global Allergy Immunotherapy market by treatment, this segment is expected to reach US$ 2,089.2 in 2023Americas market is expected to reach US$ 1,409.6 by 2023
Global Allergy Immunotherapy market has been segmented on the basis of allergy type which comprise of allergic rhinitis, allergic asthma, peanut allergy, cat allergy, and other allergies.
On the basis of treatment, it is segmented into Subcutaneous Immunotherapy (SCIT), Sublingual Immunotherapy, and Specific Immunotherapy (SIT). Sublingual Immunotherapy is further sub-segmented into sublingual immunotherapy drops, and sublingual immunotherapy tablets.
Regional analysis of global Allergy Immunotherapy market:
Considering the global scenario of the market, Europe is the top contributor in this market. The Western Europe is holding the largest market share and is expected to reach USD 954.1 million by 2023. Rise in prevalence of chronic diseases like allergy, asthma, diabetes and hypertension drive this market in Europe. According to the European Academy of Allergy and Clinical Immunology, Belgium, in 2015 nearly 150 million European citizens were suffering from chronic allergic diseases and it is estimated that by 2025 more than 50% of all Europeans will suffer from at least one type of allergy. Due to high prevalence of allergic rhinitis & skin allergy, and increasing awareness regarding treatment of allergies, US Allergy Immunotherapy market was valued USD 329.2 million in 2016. Asia Pacific is witnessing rapid growth in this market which is mainly due to rapidly increasing awareness of treatments, and rising healthcare expenditure. Asia Pacific Allergy Immunotherapy market is expected to grow at a CAGR of 11.32% during the forecast period. Middle East & Africa is expected to have limited growth. UAE is dominating this market by holding 53.5% of the Middle East & Africa market share.
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