New Yorke , Feb. 01, 2024 (GLOBE NEWSWIRE) -- The global allergy immunotherapy market size is estimated to attain at 10% CAGR from 2024 to 2036. The market is expected to garner a revenue of USD 6 billion by the end of 2036, up from a revenue of USD 2 billion in the year 2022. The growth of the market is attributed to the increasing prevalence of allergies across the globe. According to the reports, nearly 20-30% of the population in India have at least one allergic disease including asthma, atopic dermatitis, and drug allergy.
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Further, the globally improving research studies on sublingual immunotherapy for food allergies such as milk, peanuts, peaches, kiwi, and others are reckoned to hike the market size. Cow milk allergy is seen in about 2%-5% of young children under the age of 4 years and 0.5% of adults as per the World Allergy Organization in 2023.
Allergy Immunotherapy Market: Key Takeaways
- Market in Asia Pacific region to propel the highest growth.
- The Allergic Rhinitis segment to garner the highest growth
- Market in North America region to grow at the highest rate
Escalating Demand for Immunotherapy for Respiratory Allergies is Protruding to Fuel the Growth of the Market
The intensifying risk with the prevalence of asthma in children suffering from allergic rhinitis is impelling the growth of the market during 2024-2036. Further, the chance of developing new sensitizations in allergic patients is high and a difference can be seen with allergy immunotherapy during and after several years of treatment completion. The other benefits of AIT procedures such as high efficiency and cost savings with average cutback in treatment cost are predicted to fuel the market size. The application of AIT in allergic diseases reduced the cost of therapy in Thailand by over USD 250 per year as per the 2021 reports.
Allergy Immunotherapy Industry: Regional Overview
The global allergy immunotherapy market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Expanding Population of the Young Generation Suffering from Sensitization is Estimated to Raise the Market Growth in the Asia Pacific Region
Asia Pacific region market acquired a significant market share of 42% as a result of the soaring percentage of the young population triggered by food allergies, airborne allergies or other allergies is likely to boost the market growth during the forecast period. The incidence of allergic rhinitis in the region is outlined to promote lucrative opportunities for market expansion. A recent study conducted in 2023, in Japan suggested that about two-thirds of the population is affected by any one of the allergic conditions and the most common was allergic rhinitis.
Enhancing the Consciousness of People on Allergic Diseases and Spreading Chronic Respiratory Conditions are Strengthening the Market Expansion in the North America Region
Growing awareness of people on health maintenance in the North America Region
The North America region market is expected to garner a market share of 27% during the forecast years. The surge in the number of cases of allergy conditions in the region and growing awareness of people on health maintenance is augmenting the growth of the market size. Moreover, the fostering of market growth is attributed to the mounting demand for advanced methods of treatments among people. The market trend is on the rise in the region on account of enhanced food allergies among children and adults. In the U.S. over 6% of adults suffer from food allergy in the year 2021 as per the reports of the Centers for Disease Control and Prevention (CDC).
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Allergy Immunotherapy Market Segmentation by Allergy Type
- Allergic Rhinitis
- Asthma
- Allergic Conjunctivitis
The segment of allergic rhinitis is impelled to secure a significant market share of 40% during the forecast period owing to the multiplying cases of rhinitis allergy across the world. Allergic rhinitis in China impels an economic burden of USD 56 Billion each year as of 2022 statistics. The application of customized precision therapy methods to treat rhinitis signs is outlined to impact the positive growth of the market segment size. Additionally, the flourishing access to treatment options and awareness of people regarding the availability of immunotherapies for allergies is booming the market segment growth.
Allergy Immunotherapy Market Segmentation by Treatment
- Subcutaneous Immunotherapy
- Sublingual Immunotherapy
The sublingual immunotherapy segment is estimated to hold a lion's share in the coming years with a 53% market size procurement. The growth of the sublingual immunotherapy (SLIT) segment is attributed to its amplifying efficacy in minimizing allergic symptoms and improving patient life. The extending occurrence of allergic conditions such as pollen allergy, and food allergy that need desensitization treatments such as SLIT is likely to promote the market segment during the forecast years. As per the 2023 CDC data, about 1 in 5 children i.e., 18.9% of children are affected with seasonal allergy, 10.8% with eczema, and 5.8% with food allergy. Also, the preference for personalized therapies among people is going up in the healthcare sector to prevent unwanted side effects is assessed to add to the progress of market segment trends.
Allergy Immunotherapy Industry Segmentation by Distribution Channels
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
A few of the well-known market leaders in the global allergy immunotherapy market that are profiled by Research Nester are ALK, Stallergenes Greer, Mylan N.V., HAL Allergy B.V., LETIPharma, AstraZeneca, Takeda Pharmaceuticals Company Ltd, Chugai Pharmaceutical Co, Ltd, Eisai Co. Ltd, Astellas Pharma Inc., and others.
Recent Development in the Market
- Stallergenes Geer, who is a top provider of allergen immunotherapy (AIT) recently acquired an agreement with Nestle to cure peanut allergy with the usage of an oral immunotherapy drug. The drug was Palforzia and the deal was made for its worldwide distribution.
- ALK revealed the test results of phase 3 preliminary clinical trials conducted on the evaluation of sublingual allergy immunotherapy tablets for pediatric use against house dust mites (HDM). The HDM pill is used to treat allergic rhinitis and the drug is marketed by the names ODACTRA in the USA, MITICURETM in Japan, and ACARIZAX in Europe and other international markets.
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