Allergy Immunotherapy Market Poised for Significant Growth: Rising Allergies, Increased Healthcare Spending Drive Expansion

The global allergy immunotherapy market is experiencing a surge, driven by a rise in allergic conditions and growing healthcare expenditure. According to Reports and Data, the market size was valued at USD 1.96 billion in 2021 and is projected to reach USD 4.30 billion by 2030, reflecting a compound annual growth rate (CAGR) of 9.1%. This press release delves into the key trends, drivers, restraints, and growth opportunities shaping the allergy immunotherapy market landscape.
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Market Overview and Trends

Allergy immunotherapy, also known as allergen desensitization, is a treatment that gradually reduces a person's immune system sensitivity to specific allergens. This method offers long-term relief from allergies like allergic rhinitis (hay fever), asthma, and atopic dermatitis (eczema).

Key Drivers Propelling Market Growth

Rising Prevalence of Allergies: The increasing incidence of allergic conditions worldwide is a primary driver of the market. Factors such as environmental pollution, changing lifestyles, and genetic predisposition contribute to this rise.

Growing Healthcare Expenditure: The global focus on improving healthcare infrastructure and increasing healthcare spending fuels the demand for advanced allergy treatment options, including immunotherapy.

Shift Towards Long-Term Solutions: Patients are increasingly seeking long-term solutions for allergies, leading to a growing preference for immunotherapy over traditional allergy medications that offer temporary relief.

Technological Advancements: Research and development in allergy immunotherapy are leading to the development of new and improved allergen delivery methods, such as sublingual immunotherapy tablets, which are more convenient and patient-friendly.

Restraints and Challenges

Despite the positive outlook, the market faces certain challenges:

High Cost of Treatment: Allergy immunotherapy can be expensive, with treatment regimens lasting for several years. This may limit accessibility for some patients.

Long Treatment Process: Immunotherapy requires a long-term commitment, as it can take months or even years to see the full benefits.

Limited Awareness: Public awareness about immunotherapy as a viable treatment option for allergies remains relatively low in some regions.

Growth Opportunities

The market presents exciting growth opportunities:

Expansion of Sublingual Immunotherapy: Sublingual immunotherapy offers a convenient alternative to traditional allergy shots, potentially increasing patient adoption.

Development of Combination Therapies: Combining immunotherapy with other allergy treatments may improve efficacy and attract a broader patient base.

Focus on Emerging Markets: Increasing healthcare spending and rising allergy prevalence in developing countries present significant growth potential.

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SWOT Analysis

Strengths:

Increased efficacy compared to traditional allergy medications

Offers long-term relief from allergies

Growing body of research supporting its effectiveness

Weaknesses:

High cost of treatment

Long treatment duration

Limited patient awareness

Opportunities:

Development of new and improved allergen delivery methods

Expansion into emerging markets

Growing focus on preventative healthcare

Threats:

Reimbursement challenges for immunotherapy

Competition from alternative allergy treatments

Latest Strategic Developments

On 31 August 2020, Nestlé and Aimmune Therapeutics, Inc. a biopharmaceutical company launched medications for life-threatening food allergies, Aimmune. The first and only Food and Drug Administration (FDA)-approved medication, Aimmune's Palforzia, aims to reduce the frequency and severity of allergic reactions to peanuts, including anaphylaxis, in children between the ages of 4 and 17.

On 18 January 2019, Sandoz Inc. announced SYMJEP (epinephrine) 0.3 mg injection for the emergency treatment of allergic reactions including anaphylaxis. This drug is being introduced by Sandoz as a less expensive, single-dose, pre-filled syringe substitute for epinephrine auto-injectors.

Competitive Landscape:
Competitive landscape of the global allergy immunotherapy market is consolidated with few key players operating on global and regional levels. Key players are engaged in strategic alliances to expand their respective portfolios and gain a robust footing in the global market. Major companies in the global market report include Adamis Pharmaceuticals Corporation, Allergy Therapeutics, DMS Imaging, DBV Technologies, HAL Allergy B.V, HollisterStier Allergy, Merck KGaA, Mylan N.V, Stallergenes Greer, and ALK.

Segments Covered in the report:
This report offers historical data and forecasts revenue growth at a global, regional, and country level, and provides analysis of market trends in each of sub-segments from 2019 to 2030. For the purpose of this report, Reports and Data has segmented the global allergy immunotherapy market based on treatment, type, distribution channel, and region:

By Treatment Outlook:

Subcutaneous Immunotherapy (SCIT)

Sublingual Immunotherapy (SLIT)

Specific Immunotherapy (SIT)

By Type Outlook:

Allergic Rhinitis

Allergic Asthma

Others

By Distribution Channel Outlook:

Hospital Pharmacy

Retail Pharmacy

Online Pharmacy

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Country scope: U.S.; Canada; U.K.; Germany; France; BENELUX; China; India; Japan; South Korea; Brazil; Saudi Arabia; UAE; Turkey

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This release was published on openPR.