Press release
Allergy Immunotherapy Market Booms Amid Rising Allergy Prevalence and Air Pollution.
Allergy Immunotherapy Market
The global Allergy Immunotherapy market is estimated to reach over USD 4.01 billion by 2031, exhibiting a CAGR of 8.7% during the forecast period.
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The predicted increase in income might be related to the burden of allergy illnesses, which is becoming more prevalent globally. The burden that complex allergies with increased morbidity place on the healthcare system motivate R&D in this area and the introduction of novel medicines. In addition, the prevalence of asthma and allergy respiratory illnesses has increased as a result of rising air pollution levels both inside and outside. According to the Asthma and Allergy Foundation of America (AAFA), rising pollen levels are the root cause of more than 25 million allergies.
According to the Canadian Allergy, Asthma, and Immunology Foundation, between 20 and 25 percent of Canadians suffer from allergic rhinitis. Additionally, traditional symptomatic drugs are ineffective in treating 50% of the affected individuals. As a result, major corporations are concentrating on creating novel immunotherapy medicines. As an illustration, in 2019 ALK made a filing to the Canadian regulatory agency for its experimental tree SLIT-tablet.
List of Prominent Players in the Allergy Immunotherapy Market:
• ASIT Biotech
• Circassia
• Mylan N.V.
• Adamis Pharmaceuticals Corporation
• Merck KGaA
• Stallergenes Greer plc
• Allergy Therapeutics
• ALK-Abelló A/S
• DESENTUM OY
• HAL Allergy B.V.
• HollisterStier Allergy
• LETIPharma
• DBV Technologies SA
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Market Dynamics:
Drivers-
The global market for allergy immunotherapy is anticipated to expand as a result of the increasing incidence and prevalence of allergic illnesses. For instance, the Centres for Disease Control and Prevention reported that in 2018, there were 19.2 million cases of hay fever in adults over the age of 18 and 5.2 million cases in children under the age of 18. Additionally, rising pollution and environmental changes are fueling the expansion of the global market for allergy immunotherapy. For instance, the Asthma and Allergy Foundation of America (AAFA) estimates that over 23 million Americans suffer from symptoms of ragweed pollen allergy. For those who have allergies, these symptoms can make life miserable. They can also create asthma symptoms worse for those who have allergies and asthma.
Challenges:
Despite the many advantages of allergy immunotherapy, there is a poor rate of population compliance due to several issues, including inadequate patient knowledge and a lack of adequate funding. For instance, a 2022 article in the NCBI claims that the inconvenience of SCIT and the negative effects of subcutaneous and sublingual therapy are the main causes of patients stopping these treatments. Additionally, the cost of allergy shots in the United States ranges from USD 1,600 to USD 4,000 annually for those without insurance coverage to USD 800 annually for those who receive sufficient reimbursement. Additionally, the SLIT drops in the nation have not yet received approval and are not insured. Hence, the high price for the therapy is limiting the market's expansion.
Regional Trends:
The region with the fastest CAGR was Europe, which is anticipated to maintain its lead throughout the projected period. This is explained by the substantial participation of key market players like ASIT Biotech, Circassia, Mylan N.V., and Merck KGaA. More than 150 million people in Europe currently have allergic illnesses, and by 2025, it is predicted that more than 50% of the region's population would have at least one type of allergy as a result of several factors, including industrialization, urbanization, climate change, and pollution.
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Recent Developments:
• In July 2022, The good findings regarding the significant advantage of sublingual liquid allergen immunotherapy treatment (AIT) on the beginning and worsening of asthma in patients with allergic rhinitis was released by Stallergenes Greer, a worldwide healthcare firm that specializes in allergen immunotherapy (AIT).
Segmentation of Allergy Immunotherapy Market-
By Treatment Type-
• Subcutaneous Immunotherapy (SCIT)
• Sublingual Immunotherapy (SLIT)
• Tablets
• Drops
By Allergy Type-
• Allergic rhinitis
• Allergic asthma
• Others
By Distribution Channel-
• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa
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