Westford USA, July 05, 2023 (GLOBE NEWSWIRE) -- The global Allergy Immunotherapy market size is expected to reach USD 4.9 billion by 2030 and exhibit a CAGR of 10.8% in the forecast period (2023−2030), according to Skyquest's latest research report. The growing prevalence of allergies and allergic diseases, increasing awareness about the benefits of allergy immunotherapy, advancements in allergy diagnostics and treatment options, rising demand for personalized and targeted therapies, expanding patient pool for allergy immunotherapy, favorable reimbursement policies for allergy treatments, advancements in formulation and delivery techniques, focus on reducing healthcare costs through long-term allergy management, is fueling the market's growth.
According to SkyQuest's latest global research of the Allergy Immunotherapy market, increasing adoption of sublingual immunotherapy (SLIT) as a convenient and effective treatment option, development of novel allergen extracts and formulations for improved efficacy, growing emphasis on precision medicine and personalized treatment approaches, integration of digital health technologies for enhanced monitoring and adherence to therapy, expanding applications of allergy immunotherapy beyond traditional allergens, are the trends that aid in the market's growth.
Browse in-depth TOC on "Allergy Immunotherapy Market"
- Pages - 242
- Tables - 92
- Figures -76
Allergy immunotherapy, also known as allergy desensitization or hyposensitization, is a type of treatment that exposes people to small amounts of allergens over time, in order to help their bodies develop tolerance to those allergens. It is used to treat a variety of allergies, including allergies to pollen, dust mites, and pet dander.
Prominent Players in Allergy Immunotherapy Market
- ALK-Abelló
- Allergenix
- Allergy Therapeutics
- Astellas Pharma
- Biomay
- Circassia Pharmaceuticals
- DBV Technologies
- GlaxoSmithKline
- ImmunoTek
- Hal Allergy
- MEDA Pharma
- Merck & Co.
- Novavax
- Nurtec
- Pharmaxis
- Sanofi
- Stallergenes Greer
- Teva Pharmaceutical Industries
- TherapeuticsMD
- Xolair
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Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Market Size in 2022 | 2.65 Billion |
| 2030 Value Projection | 4.9 Billion |
| CAGR | 10.8% |
| Segments Covered |
|
| Regions Covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Subcutaneous immunotherapy (SCIT) Demand to Grow Substantially in the Forecast Period
Subcutaneous immunotherapy (SCIT) dominated the global online market due to the long standing clinical use. SCIT has extensive clinical evidence supporting its efficacy and safety. Numerous studies and clinical trials have demonstrated its effectiveness in desensitizing patients to specific allergens and reducing allergic symptoms.
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Respiratory Allergies are the Leading Application Segment
In terms of application, respiratory allergies are the leading segment due to high prevalence of respiratory disease. In addition, respiratory allergies can significantly impact an individual's quality of life, causing symptoms such as sneezing, congestion, runny nose, itchy/watery eyes, and respiratory difficulties. Effective treatment through allergy immunotherapy can help alleviate these symptoms and improve the overall well-being of patients.
North America is the leading Market Due to the High Prevalence of Allergies
Region-wise, North America is one of the largest growing markets with a huge prevalence of allergies. The region is known for its advancements in medical technology and innovation. The region has been at the forefront of developing and implementing new treatment modalities, formulations, and delivery systems for allergy immunotherapy, contributing to its market dominance.
A recent report thoroughly analyzes the major players operating within the Allergy Immunotherapy market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for Allergy Immunotherapy.
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Key Developments in Allergy Immunotherapy Market
- In March 2023, Stallergenes Greer acquired HAL Allergy for $1.6 billion. HAL Allergy is a company that develops and markets sublingual immunotherapy products for allergies to pollen, dust mites, and pet dander. This acquisition will allow Stallergenes Greer to expand its portfolio of sublingual immunotherapy products and to become a leading player in the European allergy immunotherapy market.
- In April 2023, Teva Pharmaceutical Industries acquired Nurtec for $2.2 billion. Nurtec is a company that develops and markets a drug for the treatment of allergic rhinitis. This acquisition will allow Teva Pharmaceutical Industries to expand its portfolio of allergy products and to become a leading player in the treatment of allergic rhinitis.
Key Questions Answered in Allergy Immunotherapy Market Report
- What specific growth drivers will impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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