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Sublingual Allergy Immunotherapy Market: Industry Analysis, Growth, Challenges and Opportunities Report by 2025
The growth of sublingual allergy immunotherapy market driven by the increased prevalence of allergic diseases coupled with growing demand for personal health care. Allergy is considered a risk factor for asthma, chronic inflammatory conditions and reduce the quality of life. Because of these factors, there is a high need for the treatment of allergies. Sublingual allergy immunotherapy is clinically proven more efficient treatment with fewer side effects when compared to the alternatives available in the market. Due to unmet need of allergy treatment and increasing patient preference over the injections mutually boosting the growth of the sublingual allergy immunotherapy market. Changing demographics with population and macroeconomic climate (increased government funding in conducting researches in institutes) are other factors driving towards the more studies in the sublingual allergy immunotherapy market. Commercial excellence with innovations driving the market towards the safe and effective sublingual allergy immunotherapy. All these factors drive the market towards the robust growth.
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Sublingual allergy immunotherapy drugs can cause severe allergic reactions that may be life-threatening in few cases and due to limited availability of therapy in few countries acts as restraints of the growth. Significantly less awareness about immunotherapy is limiting the growth of the sublingual allergy immunotherapy market.
Global sublingual allergy immunotherapy market is expected to show tremendous growth due to increased Pharmaceutical R&D spending and biotechnology investment. Sublingual allergy immunotherapy is expected to witness the high competitiveness due to increasing concentration of the drugs in the market. Changing customer order patterns and government policies regarding healthcare issues are directly influencing the growth of the sublingual allergy immunotherapy market. The future is anticipated with double CAGR during the forecast period.
North America has dominated the global sublingual allergy immunotherapy market due to the increased incidence rate of allergies and awareness of therapy. Europe and Asia-pacific are the fastest growing markets in sublingual allergy immunotherapy due to increasing healthcare funding by the governments. Due to low availability of sublingual allergy immunotherapy therapy in growth in underdeveloped countries is still less significant.
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Some of the key participants of sublingual allergy immunotherapy market are Stallergenes Greer, Merck Sharp & Dohme Corp, etc. The companies are mainly focusing on merger and acquisition to increase the product portfolio and to develop new markets around the globe.
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