Allergy Immunotherapy Market Top 10 Leaders Overview, Upcoming Opportunities, Size, Share, Regional Analysis and Growth Insight 2019-2023

Market Research Future (MRFR) confirms that the global market for allergy immunotherapy is estimated to reach USD 4,324.7 million by 2023. MRFR also estimates that the market is set to grow phenomenally at the CAGR of 10.85% during the forecast period (2017–2023). The apparent market expansion can be accredited to rise in incidences of allergies across the globe. Growing awareness regarding allergy treatment and launch of new products boost the market growth imminently. Moreover, high prevalence of allergies cannot be tackled by pharmacotherapy alone, thus the need for allergy immunotherapy arises to curb this demand. Furthermore, this therapy increases immunological tolerance and alters the disease course, providing the long-term effect. These benefits account for its massive demand from all quarters of the world. Changing healthcare practices, growing healthcare expenditure and extended insurance cover provide the gist of the market expansion across the globe.

The increasing patient pool coupled with the availability of advanced allergy treatment procedures has augured well for the players of the allergy immunotherapy market. The market is expected to remain highly lucrative in the foreseeable future, and the increased investments in clinical trials and research & development activities are set to catapult the market on an upward trajectory.

The developing healthcare sector in emerging markets in Latin America, Asia, etc. are anticipated to steer the growth of the allergy immunotherapy market. Other favorable factors encouraging the growth of the market include increasing awareness of the treatment, technological advancement, growth strategies of major players, etc.

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Key Players for Global Allergy Immunotherapy Market

Market Research Future (MRFR) recognizes the following companies as the key players in Allergy Immunotherapy Market: There are plenty of large and small market players which operate in this market all over the globe.

The key players mentioned in the report are Stallergenes Greer (U.K.), Merck KGaA (Allergopharma) (Germany), ALK Abello A/S (Denmark), Allergy Therapeutics (U.K.), Circassia (U.K.), DBV Technologies (France), HAL Allergy Group (Netherlands), and others.

Industry Developments:

In August 2018, Arrayit Corporation, life sciences, and personalized medicine company announced its partnership with multiple providers of allergen immunotherapy products for allergy testing to treat patients with allergy and asthma.

In August 2018, Astria Sunnyside Hospital announced the availability of an allergy testing and treatment program. Allergy treatment options being offered at the hospital include sublingual immunotherapy and regular allergy shots.

Global pharmaceutical company, ALK recently announced that its sublingual allergy immunotherapy (SLIT) tablet ODACTRA will be now available through prescription in the United States (US) for patients within the bracket of 18 years and 65 years of age, suffering from house dust mite (HDM)-induced allergic rhinitis. ODACTRA is a fast dissolving immunotherapy tablet to treat dust mite allergy and is also a new treatment option for physicians and patients. ODACTRA is the first HDM SLIT-tablet to be approved for use in the US.

Segments for Global Allergy Immunotherapy Market

The global allergy immunotherapy market is segmented on the basis of allergy type and treatment.

By allergy type, the market is segmented on the basis of allergic rhinitis, allergic asthma, peanut allergy, cat allergy, and other allergies. The allergic rhinitis segment has captured the largest market share in the global market whereas the peanut allergy segment is projected to grow at a competitive CAGR of 11.30% during the forecast period. High usage of tobacco, greater respiratory anomalies and rising demand for new treatments has led to the growth of the allergic rhinitis segment.

By treatment, the market is segmented on the basis of subcutaneous immunotherapy (SCIT), sublingual immunotherapy, and specific immunotherapy (SIT). Sublingual immunotherapy is sub-segmented into sublingual immunotherapy drops and sublingual immunotherapy tablets. The subcutaneous immunotherapy (SCIT) segment claims the largest market share in the global allergy immunotherapy market and is estimated to reach the value of USD 2,089.2 by 2023. Subcutaneous immunotherapy (SCIT) is highly favorable in the treatment of allergies as it provides symptomatic relief, at the same time modifying the allergic disease by targeting the underlying immunological mechanism.

Regional Analysis for Global Allergy Immunotherapy Market

The global market is spread across North America, Asia Pacific, Europe and the Middle East & Africa.

As per observation, Europe is the largest contributor to the global market. Western Europe holds the largest market share and is projected to reach the value of USD 954.1 million by 2023. Increasing prevalence of chronic diseases such as allergy, asthma, diabetes and hypertension results in the market expansion in the region.

The North America market has exhibited a significant growth owing to high prevalence of allergic rhinitis & skin allergy along with growing awareness regarding treatment of allergies. The market in United States (US) was valued at USD 329.2 million in 2016. Worsening immunity, changing lifestyle, rapid industrialization and increasing number of smokers have also led to the market expansion in the region.

On the other hand, the region of Asia Pacific is experiencing rapid market growth on account of steadily growing awareness of treatments and rising healthcare expenditure. The market in Asia Pacific region is presumed to grow at a CAGR of 11.32% during the forecast period. Moreover, launch of sublingual immunotherapies in emerging economies in the region and introduction of several allergen immunotherapy tablets (AITs) by regional market players are leading to the market growth immensely.

Lastly, the Middle East & Africa market is expected to have restricted growth. However, United Arab Emirates (UAE) is leading the regional market by holding 53.5% of the total market share in the region. This is due to growing economy, increasing awareness about health-related issues and increasing healthcare infrastructure. Also, continuous strategic actions such as product launch and development, undertaken by regional market players establish the growth of the market significantly.

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