Global Allergy Immunotherapy Market 2023-2030

Global Allergy Immunotherapy Market 2023-2030

Global allergy immunotherapy market is anticipated to grow at a CAGR of 8.2% during the forecast period. Factor such as increasing awareness of allergies in patients is anticipated to propel the growth of the allergy immunotherapy industry. According to the World Allergy Organization, an increase in the pervasiveness of allergies has been witnessed and around 30% of the world population has allergic rhinitis. As per the Centers for Disease Control and Prevention (CDC), more than 8% of adults in the US suffer from sinusitis and hay fever. With the awareness created by these organizations; governments of different countries have sanctioned budgets for the R&D of allergy immunotherapy as an effective cure. Thus, this factor has a positive impact on the growth of the allergy immunotherapy market during the forecast period.

The factors such as the growing prevalence of gastrointestinal diseases, rising investments, and funding in the field of life science research boost the growth of the allergy immunotherapy market during the forecast period. Allergy immunotherapy is also known as hypo-sensitization. It is a type of medical treatment that allows for tackling various types of allergies. There has been significant growth in the various types of allergies across the globe. Pharmacotherapy is not enough to tackle and control the occurrence of these allergic disorders. Therefore, it is a major driving factor for the development of the allergy immunotherapy market. The use of these treatments enables building up the tolerance level against the allergic substances and enables altering the course of the disorders.

Segmental Outlook

The global allergy immunotherapy market is segmented based on treatment, type, and distribution channel. Based on type, the market is segmented into allergic rhinitis, allergic asthma, food allergy, drug allergy, and others. The asthma segment is expected to hold a significant market share due to the growing prevalence of asthma across the globe. Based on treatment, the market is bifurcated into subcutaneous immunotherapy and sublingual immunotherapy. The subcutaneous immunotherapy segment is expected to hold a considerable growth rate during the forecast period due to its effectiveness in treating several allergies such as asthma. Moreover, it is treatment options that have to alter one's immune system to cure the development of other allergies. Based on the distribution channel, the market is sub-segmented into hospital pharmacy, retail pharmacy, and online pharmacy.

Allergic Rhinitis will be the largest segment

Based on type, the market is segmented into allergic rhinitis, allergic asthma, food allergy, drug allergy, and others. The allergic rhinitis segment is expected to hold the largest market share in the allergy immunotherapy market. As per the Center for CDC around 8% of the total population is suffering from allergic rhinitis in the US. Therefore, the rising prevalence among adults and children is expected to propel the growth of the segment.

Regional Outlooks

The global Allergy Immunotherapy market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. Among these, the Europe market is anticipated to cater to a prominent growth over the forecast period. However, the Asia-Pacific region is projected to experience considerable growth in the Allergy Immunotherapy market.

The North American Region is anticipated to Hold a Significant Share in the Global Allergy Immunotherapy Market

Among these regions, the Asia-Pacific region is anticipated to account for a significant share of the Allergy Immunotherapy market during the forecast period. The growth of the allergy immunotherapy market in the region is primarily driven by factors such as the growing number of patients suffering from various types of allergies, and the growing prevalence of chronic diseases such as hypertension, asthma, allergies, and diabetes that fuel the growth of the allergy immunotherapy market. Along with it, the growing prevalence of allergic asthma, eczema, and food allergy improved healthcare facilities, growing funds from R&D, and the development of new products and therapy is also contributed to the market share in the region.

Market Players Outlook

The key players of the allergy immunotherapy market include Biomay AG, Aimmune Therapeutics, Inc., HAL Allergy Group, Allergopharma, Merck KGaA, Stallergenes Greer, Jubilant Life Sciences, Ltd., ALK-Abello A/S, Leti Pharma, and DBV Technologies. These market players are continuously adopting various strategies to expand their market share. For instance, in November 2018, Aimmune Therapeutics, Inc announced the closing of the $98 million equity investment by Nestlé Health Science. The funding was provided to develop treatments for potentially life-threatening food allergies. Further, in October 2017, DBV Technologies entered into an R&D agreement for the treatment of birch allergies with standergness SA.