Press release
Allergy Immunotherapy Market Expansion Driven by Increasing Adoption of Sublingual and Subcutaneous Immunotherapy Treatments Across Global Regions
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 anticipated rise in income is closely tied to the increasing global prevalence of allergic diseases, which are placing a significant strain on healthcare systems worldwide. The growing burden of complex allergies, which often lead to heightened morbidity, is driving research and development efforts and the introduction of innovative therapies. Additionally, the rise in asthma and respiratory allergic conditions can be attributed to escalating air pollution levels both indoors and outdoors. The Asthma and Allergy Foundation of America (AAFA) reports that increasing pollen levels are responsible for triggering allergies in over 25 million individuals.
In Canada, the Canadian Allergy, Asthma, and Immunology Foundation estimates that between 20 to 25 percent of the population suffers from allergic rhinitis. Furthermore, conventional symptomatic treatments remain ineffective for approximately 50% of those affected. As a result, leading pharmaceutical companies are focusing on the development of novel immunotherapy treatments. For example, in 2019, ALK submitted a filing to the Canadian regulatory authorities for its experimental tree sublingual immunotherapy (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 allergy immunotherapy market is expected to experience significant growth due to the rising incidence and prevalence of allergic diseases. For example, the Centers for Disease Control and Prevention (CDC) reported that in 2018, there were 19.2 million cases of hay fever among adults over the age of 18 and 5.2 million cases in children under 18. Moreover, escalating pollution levels and environmental changes are contributing to the expansion of the allergy immunotherapy market. According to the Asthma and Allergy Foundation of America (AAFA), more than 23 million Americans suffer from ragweed pollen allergies, with symptoms that can severely affect quality of life and exacerbate asthma conditions for those with coexisting asthma and allergies.
Challenges:
Despite the benefits of allergy immunotherapy, patient compliance remains a challenge due to factors such as limited patient awareness and inadequate funding. A 2022 article published in the NCBI highlights that the inconvenience of subcutaneous immunotherapy (SCIT) and the adverse effects of both subcutaneous and sublingual treatments are primary reasons for treatment discontinuation. Additionally, the cost of allergy shots in the United States ranges from USD 1,600 to USD 4,000 annually for individuals without insurance, and USD 800 for those with adequate reimbursement. Furthermore, sublingual immunotherapy (SLIT) drops have not yet received approval or insurance coverage in the U.S., limiting the accessibility and affordability of these treatments, which in turn hinders market growth.
Regional Trends:
Europe is expected to register the highest compound annual growth rate (CAGR) and maintain its market leadership throughout the forecast period. This growth is attributed to the significant involvement of key market players such as ASIT Biotech, Circassia, Mylan N.V., and Merck KGaA. Allergic diseases currently affect over 150 million people in Europe, and it is projected that by 2025, more than 50% of the region's population will experience at least one form of allergy, driven by factors such as industrialization, urbanization, climate change, and increased 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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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
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