Allergy Immunotherapy Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Allergy Immunotherapy Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The allergy immunotherapy market is expected to register a CAGR of 10.7% over the forecast period. 2022-2027.

The COVID-19 pandemic is an unprecedented health concern and is adversely affecting communities, industries, businesses, and lives across the world. Many companies have already received approval for their vaccines against the SARS-CoV-2 virus and still focusing their research and development on the development of therapeutics against COVID-19. However, allergy patients need continuous treatment and medication supply owing to which healthcare professionals continued to give treatments or treatment advice during the pandemic. For instance, according to the study titled, "Management of Allergic Patients During the COVID-19 Pandemic in Asia" published in February 2021, it is recommended allergic patients who are suffering from asthma, rhinitis, atopic dermatitis, or chronic urticaria should continue to receive maintenance therapy in a well-controlled manner during the pandemic. Furthermore, according to the study titled, "Management of Allergic Diseases During COVID-19 Outbreak" published in February 2021, to continue treatment of allergic rhinitis, remote health care tools for first visits or monitored patients were implemented during pandemic and it also suggested to continue treatment in case of uninfected patients or recovered from COVID-19 infection and interrupt in case of positive or suspected SARS-CoV-2 infection. Therefore, such instances indicate that the market continue to grow during the pandemic.

The increasing burden of various types of allergies and launch of new sublingual immunotherapies in emerging economies are the major drivers for the market. The increasing burden of various types of allergies is one of the key drivers for the market. For instance, according to the journal published by the SingleCare in January 2022, more than 50.0 million Americans suffers from some type of allergy every year. It also reported that allergies are the sixth leading chronic illness in the United States. A survey was also conducted by SingleCare in 2021, which reported that 82.0% of respondents with allergies reported these allergies affects the quality of life in the United States. The survey result also showed that 14.0% of the respondents reported hospitalizations due to an allergic reaction. Therefore, such an increasing cases of allergies is anticipated to propel the demand for allergy immunotherapy thereby propelling the market growth over the forecast period.

However, lack of awareness about allergy and treatments is expected to hinder the market growth over the forecast period.

Key Market TrendsSubcutaneous Immunotherapy (SCIT) is Expected to Witness Growth Over the Forecast Period

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. Subcutaneous immunotherapy (SCIT) is a unique therapy for allergic disease as it provides symptomatic relief while modifying allergic disease by targeting the underlying immunological mechanism. Its efficacy and safety have been demonstrated in the treatment of asthma, allergic rhinitis/rhinoconjunctivitis, and hypersensitivity to stinging insects in multiple controlled clinical trials. Subcutaneous immunotherapy (SCIT) is administered by injection, and refers to what is commonly known as an “allergy shot”. It is the standard medication for allergen desensitization and provides symptomatic relief for patients with allergic rhinitis and asthma.

The high efficacy and cost-effectiveness of Subcutaneous immunotherapy (SCIT) is the major driver for the segment. For instance, as per the study titled, "Efficacy of Subcutaneous and Sublingual Immunotherapy for House Dust Mite Allergy: A Network Meta-Analysis-Based Comparison" published in August 2021, subcutaneous immunotherapy (SCIT) is much more effective than sublingual immunotherapy (SLIT) drops or tablets in controlling symptoms of allergic rhinitis. Therefore, high efficacy of sublingual immunotherapy (SLIT) indicates that the demand for the product is anticiapted to increase, thereby surging the segment growth over the forecast period.

North America is Expected to Hold the Largest Market Share over the Forecast Period

North America is expected to dominate the overall allergy immunotherapy market, over the forecast period. The growth is due to factors such as increasing cases of allergies and increasing awareness of allergy treatment. For instance, according to the report published by International Food Information Council in May 2022, in the United States, about 32.0 million people have reported having food allergies, and each year around 200,000 people seek emergency medical care due to food allergies. It also reported that food allergies were common among youths, with about one in every 13 children being diagnosed with a food allergy in the United States and around 40.0% of children with food allergies being allergic to more than one food. Such instances are anticipated to propel the demand for allergy immunotherapy in this region.

Key product launches, high concentration of market players or manufacturer's presence, and acquisition & partnerships among major players, and increasing cases of allergies in the United States are some of the factors driving the growth of the allergy immunotherapy market in the country. For instance, in January 2020, the United States Food and Drug Administration approved AR101 (Palforzia), the first drug to treat peanut allergy in children. It will also help to mitigate allergic reactions, including anaphylaxis, that may occur with accidental exposure to peanuts.

Therefore, owing to the aforesaid factors the growth of the studied market is anticipated in the North America Region.

Competitive Landscape

The market studied is a consolidated market owing to the presence of a few major market players. The competitive landscape includes an analysis of a few international as well as regional companies which hold the market shares and are well known including Aimmune Therapeutics, Hollister Allergy, Leti Pharma, Merck KGaA (Allergopharma), Stallergenes Greer, Allergy Therapeutics, ALK-Abello A/S, HAL Allergy Group, Biomay AG, and Circassia among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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