The Global Allergy Immunotherapy Market Size is valued at 1.91 billion in 2022 and is predicted to reach 4.01 billion by the year 2031 at an 8.7% CAGR during the forecast period for 2023-2031.
The COVID-19 pandemic is a rare health threat that is hurting people's lives, businesses, industries, and communities all across the world. Many businesses are still concentrating their research and development efforts on the creation of medicines against COVID-19 even if regulatory authorities have already approved their vaccines against the SARS-CoV-2 virus.
Healthcare providers continued to provide treatments or treatment advice during the pandemic since allergy patients require ongoing therapy and medication supply. For instance, it is advised that allergic patients who have asthma, rhinitis, atopic dermatitis, or chronic urticaria continue to receive maintenance therapy in a well-controlled manner during the pandemic, per the study titled "Management of Allergic Patients During the COVID-19 Pandemic in Asia" published in February 2021.
The key factors expediting the market's growth are the rising prevalence of different types of allergies and the introduction of innovative sublingual immunotherapies in emerging nations. One of the main drivers of the market is the rising burden of different forms of allergies. For instance, more than 50.0 million Americans suffer from an allergy of some sort each year, according to a journal article published by SingleCare in January 2022.
Additionally, it stated that allergies are the sixth most common chronic ailment in the US. According to a poll performed by SingleCare in 2021, 82.0% of respondents with allergies said their allergies have an impact on their quality of life in the US. In addition, the survey's findings revealed that 14.0% of respondents had experienced hospitalizations as a result of an allergic response. Because of this, it is projected that there will be an increase in the demand for allergy immunotherapy during the course of the projection period. But during the course of the projection period, it is anticipated that a lack of knowledge regarding allergies and treatments will restrain market expansion.
Recent Developments:
- In July 2022, The good findings regarding the significant advantage of sublingual liquid allergen immunotherapy treatment (AIT) on the beginning and worsening of asthma in patients with allergic rhinitis was released by Stallergenes Greer, a worldwide healthcare firm that specializes in allergen immunotherapy (AIT).
Competitive Landscape:
Some of the Allergy Immunotherapy market players are:
- 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
Market Segmentation:
The Allergy Immunotherapy market is segmented based on treatment type, allergy type, and distribution channel. Based on treatment type, the market is divided into Subcutaneous Immunotherapy (SCIT), Sublingual Immunotherapy (SLIT), Tablets, and Drops. The allergy type segment includes Allergic rhinitis, Allergic asthma, and Others. Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy are the segments by distribution channel.
Based On Treatment Type, The SCIT, Subcutaneous Immunotherapy Segment Is Accounted As A Major Contributor To The Allergy Immunotherapy Market
The main factor driving the segment is subcutaneous immunotherapy's (SCIT) excellent efficacy and cost-effectiveness. Subcutaneous immunotherapy (SCIT) is much more effective than sublingual immunotherapy (SLIT) drops or tablets in controlling symptoms of allergic rhinitis, according to a study titled "Efficacy of Subcutaneous and Sublingual Immunotherapy for House Dust Mite Allergy: A Network Meta-Analysis-Based Comparison" published in August 2021. Sublingual immunotherapy's (SLIT) excellent efficacy thus suggests that the product's demand would likely rise throughout the projected period, driving the segment's expansion.
The Hospital Pharmacy Segment Witnessed Growth At A Rapid Rate
Due to the increase in patients seeking treatment for allergic illnesses, the hospital pharmacy segment had the lion's share. For monitoring and treating any negative responses, allergy injections are typically administered at medical facilities or doctor's offices.
In The Region, The North America Allergy Immunotherapy Market Holds A Significant Revenue Share
Over the forecast period, North America is anticipated to dominate the market for allergy immunotherapy as a whole. Increased allergy cases and greater public awareness of allergy therapy are among the reasons contributing to the development. For instance, according to research released in May 2022 by the International Food Information Council, around 32.0 million Americans have reported having a food allergy, and every year, roughly 200,000 people seek emergency medical attention because of a food allergy. It also stated that food allergies were frequent in children, with one in every 13 kids in the US receiving a diagnosis, and that 40.0% of kids with food allergies were also allergic to other foods. It is anticipated that situations like these would increase the need for allergy immunotherapy in this area.
Allergy Immunotherapy Market Report Scope:
|
Report Attribute |
Specifications |
|
Market Size Value In 2022 |
USD 1.91 Bn |
|
Revenue Forecast In 2031 |
USD 4.01 Bn |
|
Growth Rate CAGR |
CAGR of 8.7% from 2023 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
Treatment Type, Allergy Type, And Distribution Channel |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
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. |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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