by Market Overview:
Allergy immunotherapy involves administering gradually increasing doses of allergens to a patient with the purpose of inducing immune tolerance to these substances. When administered correctly, it can provide long-term relief of symptoms from respiratory allergies and potentially prevent the development of new allergen sensitivities. The market holds promise for treating complex allergic conditions through new generation therapies targeting specific immune cells and pathways.
Market Dynamics:
The global allergy immunotherapy market is driven by the rising prevalence of allergic diseases and inadequate satisfaction with symptomatic treatments. According to data, over 500 million people suffer from allergic rhinitis worldwide. While antihistamines provide temporary relief, immunotherapy targets the root cause by modifying the body’s immune response. Promising late stage pipeline candidates are evaluating sublingual and epicutaneous formulations for treating food allergies. Ongoing research to expand immunotherapy to new types of allergies and disease populations could further fuel market growth over the forecast period.
Market key trends:
The allergy immunotherapy market has been witnessing rising prevalence of allergic diseases globally. As per research, over 30% of the world population is suffering from various allergic diseases. Moreover, factors such as rising pollution levels, chemical exposures, changing lifestyle and climate changes are further contributing to the increasing burden of allergic conditions. In addition, research trends suggest that early intervention through immunotherapy can provide long term relief by modifying the disease. All these factors have been driving the demand for various allergy immunotherapy options.
The global Allergy Immunotherapy Market Share is estimated to be valued at US$ 2,116.0 Million in 2023 and is expected to exhibit a CAGR of 9.3% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights
SWOT Analysis:
Strength: Growing evidence supporting the clinical efficacy and safety of immunotherapy in treating allergic diseases.
Weaknesses: High costs associated with immunotherapy, especially for sublingual and subcutaneous variants. Side effects related to immunotherapy.
Opportunities: The emergence of new technologies like epicutaneous immunotherapy (EPIT) patches provide less painful alternatives. Increasing adoption in developing regions due to growing allergies.
Threats: Limited healthcare reimbursements available for allergen immunotherapy in various countries. Strong competition from conventional pharmacotherapy.
Key Takeaways:
The global allergy immunotherapy market size was valued at US$ 2,116.0 million in 2023 and is expected to reach US$ 4,098.3 million by 2030, expanding at a CAGR of 9.3% during the forecast period.
Regional analysis: North America is expected to account for the largest share of the global allergy immunotherapy market during the forecast period. This is attributed to factors such as the rising prevalence of allergic disorders, availability of advanced treatment options and presence of major players in the region. Meanwhile, Asia Pacific is projected to witness the highest growth rate over the coming years due to increasing healthcare spending, large patient pool and growing awareness about allergy immunotherapy.
Key players analysis: Key players operating in the allergy immunotherapy market are Stallergenes Greer, ALK-Abello A/S, Allergy Therapeutics, Allergopharma, HAL Allergy Group, Aimmune Therapeutics, DBV Technologies, Leti Pharma, and Jubilant HollisterStier. Major players are focusing on new product launches, geographical expansion and acquisitions to gain a competitive edge in the market.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
