Global Allergy Immunotherapy Market Expected to Reach $2.23 bn by 2026
The Global Allergy Immunotherapy market is diversifying at a good pace due to a surge in allergy incidents across the globe. The overall Global Allergy Immunotherapy Market is expected to grow at a significant CAGR rate of 9.61% from USD 1.07 billion in 2018 to USD 2.23 billion in 2026. This expansion in allergy immunotherapy is due to an increase in awareness of allergy treatment, growth in allergic population and new product launch. Allergy Immunotherapy is also referred to as desensitization or Hypo-sensitization, is a medical treatment attacks different types of allergies. Desensitization provides long-term effect, helps in improvement of the quality in patients life with allergies.
Some of the allergic diseases include food allergy, allergic asthma, hay fever, atopic dermatitis, etc.
This can lead to symptoms like runny nose, an itchy rash, shortness of breath, red eyes swelling, etc.
Global Allergy Immunotherapy: Key Segments
Product Type: - Global Allergy Immunotherapy is segmented into two types based on product i.e., SCIT and SLIT. In 2016, SCIT dominated the global allergy immunotherapy market which accounts for 65% of market share.
Allergy Type: - Global allergy Immunotherapy market is classified into allergic rhinitis, asthma, food allergy, venom allergy, and others. Allergic Rhinitis accounted for a larger market share in the global market. This segment is estimated to continue its superiority during the forecast period. Other segments include pollen allergy, latex allergy, etc.
Distribution channels: Hospital pharmacies, retail pharmacies & drug stores, and online pharmacies. Hospital pharmacies are expected to dominate the global allergy immunotherapy market.
Region Type: - Allergy Immunotherapy market covers Europe, America and the Rest of the world. Europe recorded the largest share of the global allergy immunotherapy market in 2016, due to high awareness, increase in funding for research and grants, favorable medical reimbursement policies, rise in allergic population, etc. After Europe, it is followed by North America. In the Asia-Pacific region, the moderate growth rate is expected for allergy immunotherapy.
Key Market Drivers: -
Global Allergy Immunotherapy Market Trends
- Increase in the prevalence of allergies:
The increase in the prevalence of various types of allergies across the globe is driving the allergy immunotherapies market. Globally, the incidence of multiple types of allergies is, and it is one of the most common and fastest ailments, with approximately 500 million people having it. Nowadays, allergic diseases are affecting the lives of more than one billion people globally. With an epidemic rise of allergies over the last 60 years, prevalence is expected to reach up to four billion people by 2050
Global Allergy Immunotherapy Market: Restraints
- Severe allergic reactions
Sublingual allergy immunotherapy drugs are known to cause severe allergic reactions that may be life-threatening in few cases and because of the limited availability of therapy in few countries acts as restraints of the growth. Significantly less awareness about immunotherapy is limiting the growth of the sublingual allergy immunotherapy market.
- The high cost of treatments
In addition to that, compared with conventional treatment the cost-effectiveness of SCIT is high and new molecules under trials will assist the overall growth of allergy immunotherapy. Allergen immunotherapy faces several problems related to its efficacy, side effects, low patient adherence and the high costs due to long duration (3 to 5 years) of treatment.
Global Allergy Immunotherapy Market: Opportunities and Challenges
- The unknown pathogenesis of various allergies
One of the significant challenges that are faced by the global allergy immunotherapies market is the unclear pathogenesis and prognosis of several allergy indications. The unclear pathogenesis of these allergies may lead to a poor diagnosis. Hence, the lack of effective diagnostic methods led various companies to conduct research for developing novel therapies for diagnosing various allergies. The promising product pipeline is creating opportunities for business development during the forecast period. Across the world, there found around 10 different drugs in phase-3 of the clinical pipeline studies to treat different allergy symptoms.
- Lack of Adherence
Allergen extracts are typically administered either by subcutaneous injections (SCIT) or as drops under the tongue (SLIT). The clinical efficacy of AIT requires administration of standardized allergen extracts in adequate doses and for sufficient periods of time (3–5 years).
Allergy Immunotherapy Market Based on Product Type (US$ Mn)
Allergy Immunotherapy Market Based on Allergy Type (Market Size and Forecast, and Y-o-Y Growth, (US$ Mn)
- Allergic rhinitis
- Food allergy
- Venom allergy
- Eye allergy
- Skin allergy
Allergy Immunotherapy Market Based on Distribution Channels (Market Size and Forecast, and Y-o-Y Growth, (US$ Mn)
- Hospital pharmacies
- Retail pharmacies & drug stores
- Online pharmacies
Allergy Immunotherapy Market Based on Geographic Region (Market Size and Forecast, and Y-o-Y Growth, (US$ Mn)
- North America
- South America
Allergy Immunotherapy Market Competitive Analysis (Financial, Product Overview, and Market Strategies)
- Stallergenes Greer
- ALK-Abello A/S
- Allergy Therapeutics
- Aimmune Therapeutics
- Merck KGaA (Allergopharma)
- HAL Allergy Group
- DBV Technologies
- Biomay AG,
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