New York, Feb. 26, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Allergy Immunotherapy Market - Growth, Trends, and Forecast (2019 - 2024)" - https://www.reportlinker.com/p05865751/?utm_source=GNW
The rising cases of allergies are expected to increase the demand for allergy immunotherapy, leading to the high growth of the market over the forecast period. According to the International Study of Asthma and Allergies in Childhood (ISAAC), about 22.1% of young children aged between 13 and 14 years are affected by hay fever, which was globally published in World Allergy Week 2016 fact sheet. As per the data published by the American College of Allergy, Asthma & Immunology, allergies are the sixth leading cause of chronic illness in the United States, with an annual cost in excess of USD 18 billion, and more than 50 million Americans suffer from allergies each year. There is an increase in the number of people suffering from food allergies among both children and adults, globally. Hence, the increasing burden of allergic diseases is expected to aid the demand for novel immunotherapies.
Scope of the Report
As per the scope of this report, allergy immunotherapies are a preventive treatment for allergic reactions to substances. It involves gradually increasing doses of the substance, or allergen, to which the person is allergic. The market is segmented by type of immunotherapy, allergy type and geography.
Key Market Trends
Subcutaneous Immunotherapy (SCIT) is the Segment by Immunotherapy Type expected to Hold Largest Market Share
The subcutaneous immunotherapy (SCIT), is the most commonly used and most effective form of allergy immunotherapy and it is the only treatment available that actually changes the immune system, making it possible to prevent the development of new allergies and asthma. The rising approval of immunotherapy is the major factor driving the growth of the market. For instance, recently, in 2018, one of the major market players, Stallergenes Greer received approval from the United States Food and Drug Administration (FDA) for the extension of the indication for Oralair, an allergy immunotherapy sublingual tablet, to treat patients ages 5 to 9 with grass pollen-induced allergic rhinitis. Furthermore, governments are taking initiatives to increase the awareness about allergies among the population, for instance recently, in January 2018, the Ministry and the Japanese Society of Allergology opened a dedicated website about allergies. Thus, owing to the rising burden of allergies and awareness among the population the market is expected to witness high growth.
North America is Expected to Hold Largest Market Share over the Forecast Period
The United States is expected to be the largest allergy immunotherapy market across the world. High prevalence of allergies and stringent regulatory guidelines that mandate allergic testing in all cases of intensive and emergency care are some of the factors contributing to the growth of the US allergy immunotherapy market. It is estimated that one among every six Americans (around 50 million) suffers from some form of allergy, and around 25 million Americans suffer from respiratory allergies. Among the Americans suffering from respiratory allergies, approximately 10 million suffer from allergic asthma. In the United States, ragweed allergy is the primary reason for hay fever (pollen allergies), and ragweed pollen production is expected to increase by about 65% - 100% by 2085. This is gradually contributing to the growth of the market studied. Furthermore, the availability of better healthcare infrastructure is expected to drive the growth of the market studied.
Competitive Landscape
The market studied is a consolidated market owing to the presence of a few major market players. Some of the market players are Aimmune Therapeutics, Hollister Allergy, Leti Pharma, Merck KGaA (Allergopharma), Stallergenes Greer, Allergy Therapeutics, ALK-Abello A/S, HAL Allergy Group, Biomay AG, and Circassia
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Allergy Immunotherapy Market - Growth, Trends, and Forecast (2019 - 2024)
Market Overview The major factors for the growth of the allergy immunotherapy market include the increasing burden of various types of allergies and the launch of new sublingual immunotherapies in emerging economies.
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