New York, USA, June 21, 2023 (GLOBE NEWSWIRE) -- Allergy Immunotherapy Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Allergy Immunotherapy Market Information By Treatment, Allergy Type and Region - Forecast till 2030", the market size was valued at USD 2.4 billion in 2022 and is projected to grow from USD 2.6 Billion in 2023 to USD 4.9 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 10.8% during the forecast period (2023 - 2030).
Market Synopsis
The market is expanding due to rising demand for various medications to cure illnesses. Companies are working on the research component to create the medications they require on the market to meet demand. Also, market drivers such as key competitors producing an increasing number of anti-allergic pills will propel market growth. The repeated delivery of allergens to people with IgE-mediated diseases is known as allergy immunotherapy, also called allergen desensitization. These treatments are meant to defend against allergic reactions and inflammatory symptoms brought on by exposure to allergens like pollen, house mites, bugs, and others. One of the key elements driving up the need for these therapies is people's increased exposure to allergens.
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As the only treatment that alters the immune system and enables the prevention of new allergies and asthma attacks, subcutaneous immunotherapy (SCIT) is the most popular and efficient type of allergy immunotherapy. A novel treatment for allergic diseases, subcutaneous immunotherapy (SCIT) alleviates symptoms while altering allergic disease by focusing on the underlying immunological process. Numerous carefully monitored clinical trials have proven its effectiveness and safety in managing asthma, allergic rhinitis/rhinoconjunctivitis, and hypersensitivity to buzzing insects. The burden that complex allergies with increased morbidity place on healthcare providers motivate R&D to introduce novel medicines in this area. In addition, the number of asthma and allergy respiratory illnesses has increased due to rising air pollution levels inside and outside.
Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 4.9 billion |
| CAGR | 10.8% |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2021 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Treatment and Allergy Type |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Rising Industrialization and a Booming Population Advancements in Treatment and Medicines |
| Rising Prevalence of Allergic Disorders to boost the market growth |
Allergy Immunotherapy Market Competitive Landscape:
- ALK Abello (U.K.)
- HAL Allergy Group (U.K.)
- Merck KGaA Allergopharma (U.K.)
- Stallergenes Greer (U.K.)
- Allergy Therapeutics (U.K.)
- Circassia (U.K.)
- DVB Technologies (U.K.)
Allergy Immunotherapy Market Trends:
Market Drivers:
The main factors driving the market are the rising prevalence of different types of allergies and the introduction of innovative sublingual immunotherapies in developing countries. One of the main drivers of the market is the rising burden of different forms of allergies. Additionally, it is projected that a rise in expenditure by the leading players in developing new immunotherapies to address the growing allergic population will promote market expansion. Additionally, the market is being boosted by the government's growing commitment to creating an environment favorable for developing and introducing immunotherapy medicines for unmet allergy diseases. Because of this, it is projected that there will be an increase in the requirements for allergy immunotherapy during the projection period.
Numerous R&D efforts are being made by other businesses to develop immunotherapy treatments for food allergies. Additionally, a robust pipeline of immunotherapy treatment medicines will offer businesses growth opportunities in the upcoming years. However, it is still unknown how therapy will affect patients after treatment. The main factor driving the segment is subcutaneous immunotherapy's (SCIT) excellent efficacy and cost-effectiveness. Because sublingual immunotherapy (SLIT) is highly effective, it is expected that demand for the medication will rise throughout the projection period, driving the segment growth.
Restraints
Over the period, the market expansion is anticipated to be hampered by the lack of knowledge regarding allergies and treatments. Despite the many advantages of allergy immunotherapy, there is low population adherence to the treatment for various reasons, such as inadequate funding.
Browse In-depth Market Research Report (88 Pages) on Allergy Immunotherapy: https://www.marketresearchfuture.com/reports/allergy-immunotherapy-market-1517
COVID 19 Analysis
Globally, communities, businesses, industries, and people are negatively impacted by the COVID-19 pandemic, a rare health risk. Due to the strict lockdowns and stay-at-home regulations that were put in place during the epidemic, the market only experienced slow growth. Additionally, the increased use of masks and restrictions on outdoor activities to stop the spread of the COVID-19 infection had limited the patient's exposure to allergens, which negatively influenced the patient population and the market's growth. Many businesses have already had their vaccines for the SARS-CoV-2 virus approved, but they are still concentrating their efforts to conduct research and develop on the creation of therapies for the COVID-19 virus. However, allergy patients require ongoing care and drug administration; thus, medical personnel continued to provide treatments or treatment advice during the pandemic.
Allergy Immunotherapy Market Segmentation
By allergy type, the market includes allergic rhinitis, allergic asthma, peanut allergy, and cat allergy. By treatment, the market includes sublingual immunotherapy, subcutaneous immunotherapy, and specific immunotherapy.
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Allergy Immunotherapy Market Regional Insights
Over the forecast period, North America is anticipated to dominate the market for allergy immunotherapy. Increased allergy cases and greater public awareness of allergy therapy are among the reasons contributing to the development. Some of the reasons propelling the advancement of the allergy immunotherapy industry in the U.S. include significant product launches, high concentrations of market players or the company's presence, acquisitions & alliances among leading companies, and rising allergy rates in the country.
A bigger proportion of the region is also produced by an increase in the total amount of allergy drops approved in Europe. Allergy immunotherapy has been adopted differently throughout Europe and North America, as well as similarly. There are variations in the formulation, availability, and adoption of allergen extracts. The quickest CAGR is anticipated to be recorded during the forecast period in Asia-Pacific. The market growth can be ascribed to the strong presence of top businesses in developing Asian markets and investments made for SLIT advancement, dosage standardization, and long-term outcome evaluation.
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