The global allergy immunotherapy market size is expected to reach USD 5.12 billion in 2028 and register a revenue CAGR of 10.5% over the forecast period, according to the latest report by Reports and Data. Market revenue growth is spurred by factors such as increasing prevalence of different types of allergies globally – allergic rhinitis being one of the most common allergic diseases – and rise in R&D activities to develop more advanced and effective therapies. The American Academy of Allergy Asthma & Immunology claims that allergic rhinitis affects nearly 30% of the global populace. Growing prevalence of other allergic conditions including drug allergies, food allergies, and respiratory allergies such as allergic asthma further drives demand for allergy immunotherapy. Introduction of advanced immunotherapies for allergy, rising awareness of the availability of such treatments among people worldwide, increasing levels of environmental pollution, and changing lifestyles and eating habits are other important factors boosting the global market growth.
An allergy is a condition in which the body’s immune system responds abnormally to foreign substances called allergen, which typically do not harm the body. The most common allergens causing allergic reactions include certain types of food, pet dander, pollen, dust mites, or mold. Allergy immunotherapy, also referred to as hypo-sensitization or desensitization, is a medical treatment for different allergic reactions and involves administration of gradually increasing doses of particular allergens to eventually desensitize the immune system. Allergy immunotherapy is proven to be effective for conditions such as food allergies, animal allergies, allergic asthma, and allergic rhinitis. Different types of allergy immunotherapy include subcutaneous immunotherapy (also allergy shots), sublingual immunotherapy, oral immunotherapy, and transdermal immunotherapy.
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The global Allergy Immunotherapy market is expected to register significant growth throughout the forecast period. The pharmaceutical & healthcare sector has register significant revenue growth over the recent past. Technological advancements in the healthcare and medical sector, availability of latest tools and techniques, increasing investments in the healthcare sector and improving healthcare infrastructure are key factors boosting market growth. In addition, rising funds by several public and private sectors, high adoption of POC diagnosis and home care settings, is further fueling market growth.
The current pandemic has been very challenging for all industries including the healthcare and pharma sector. Shortage of medicines, vaccines and others healthcare facilities is expected to open lucrative growth opportunities for market players in going ahead.
The report offers detailed information about recent activities by market players, their market position, financial status, global standing, services and product portfolio along with license agreement. These key players are adopting various strategies such as partnerships, collaborations, merger and acquisitions, and joint ventures to gain robust footing in the market. These players are also investing in research and development activities to come up with enhanced materials and products.
Some Key Highlights from the Report:
- Among immunotherapy type segments, the subcutaneous immunotherapy (SCIT) segment is expected to account for the highest revenue share over the forecast period. One of the key factors contributing to growth of this segment is growing affordability and availability of allergy shots across hospital pharmacies, retail drug stores, and online pharmacies.
- Based on allergy type, the allergic rhinitis augment dominated other segments in terms of highest revenue contribution in 2020. Increasing cases of allergic rhinitis worldwide and rising adoption of advanced treatments are major factors boosting this segment’s growth.
- Among regional markets, Asia Pacific is the fastest-growing regional market for allergy immunotherapy and is projected to register a robust CAGR over the forecast period. Factors including rapid industrialization and urbanization, rising pollution levels, rapid climate change, and changing eating habits majorly account for market growth in the Asia Pacific region.
- Some of the top players in the global allergy immunotherapy market include Aimmune Therapeutics, Hollister Allergy, LETIPharma, Merck KGaA (Allergopharma), Stallergenes Greer, Allergy Therapeutics PLC, ALK-Abelló, HAL Allergy Group, Biomay AG, and Circassia.
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For the purpose of this report, the global allergy immunotherapy market is segmented on the basis of immunotherapy type, allergy type, product type, and region:
Immunotherapy Type Outlook (Revenue, USD Billion; 2018-2028)
- Subcutaneous Immunotherapy (SCIT)
- Sublingual Immunotherapy (SLIT)
- Oral Immunotherapy (OIT)
- Transdermal Immunotherapy (TDIT)
Allergy Type Outlook (Revenue, USD Billion; 2018-2028)
- Allergic Rhinitis
- Allergic Asthma
- Food Allergies
Product Type Outlook (Revenue, USD Billion; 2018-2028)
- SLIT Tablets
Key Regional Markets:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Key findings in the report:
- Information about key trends, technological developments, growing focus on drug discovery and investments in research and development activities
- Detailed insights about manufactures, product portfolios, pricing analysis and financial pricing
- Technological developments and detailed analysis in the volatile competitive landscape.
- New strategies adopted by new and emerging market players
- Estimation about manufactures, sales and import and export dynamics
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