by Market Overview:
Allergy immunotherapy, also known as desensitization or hypo-sensitization, is a medical treatment for allergies. It works by administering gradually increasing doses of an allergen to a patient, in order to reduce the symptoms caused by that allergen. The treatment involves subcutaneous or sublingual exposure to an allergen, with the goal of reducing the immune system’s response to the allergen upon future exposures. Allergy immunotherapy is commonly used to treat allergies to airborne allergens such as pet dander, pollen, dust mites, and molds.
Market Dynamics:
The allergy immunotherapy market is expected to grow rapidly over the forecast period, owing to the increasing prevalence of allergic diseases globally and growing awareness among patients regarding available treatment options. According to a report by the Centers for Disease Control and Prevention (CDC), more than 50 million Americans suffer from allergic diseases each year. Moreover, the prevalence of allergic rhinitis has increased from 10.6% to 19.7% between 2001 and 2011. Growing patient preference for long-term treatments to control symptoms is also expected to drive the demand for immunotherapy over the forecast period. Furthermore, recent advances in immunotherapy techniques including sublingual and subcutaneous administration methods are increasing the accessibility and efficacy of treatments, fueling the market growth.
The global Allergy Immunotherapy Market Share is estimated to be valued at US$ 2,116.0 Million in 2023 and is expected to exhibit a CAGR of 9.3% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights
Segment Analysis
The global allergy immunotherapy market is segmented into sublingual immunotherapy and subcutaneous immunotherapy. Subcutaneous immunotherapy dominates the market due to its longer history and safety record of reducing allergy symptoms. It involves regularly receiving shots of gradually increasing doses of an allergen to reduce sensitivity over time.
PEST Analysis
Political: The market is positively impacted by government initiatives to raise awareness and increase access to allergen-specific treatments.
Economic: The growing pollution levels and changes in lifestyle and environment have increased allergies, boosting demand for immunotherapy treatments.
Social: Rising healthcare expenditures and the growing focus on wellness is driving individuals to opt for long-term treatments like immunotherapy.
Technological: Advances in recombinant technologies and platform technologies for precision diagnosis are supporting the development of better immunotherapy options.
Key Takeaways
The global allergy immunotherapy market is expected to witness high growth, exhibiting a CAGR of 9.3% over the forecast period, due to increasing pollution levels and prevalence of allergic disorders. The North American region dominates the market due to developed healthcare infrastructure and increasing adoption of immunotherapy treatments for asthma and rhinitis.
Regional analysis: North America holds the largest share in the global allergy immunotherapy market due to favorable reimbursement policies, availability of sophisticated treatment options, and rising cases of allergic rhinitis and asthma. Europe also has a significant share due to ongoing research and increasing awareness. Asia Pacific is expected to grow at the fastest pace during the forecast period owing to growing healthcare infrastructure and spending.
Key players: Key players operating in the allergy immunotherapy market are Stallergenes Greer, ALK-Abello A/S, Allergy Therapeutics, Allergopharma, HAL Allergy Group, Aimmune Therapeutics, DBV Technologies, Leti Pharma, and Jubilant HollisterStier. These companies are focusing on advancing their product portfolios through collaboration and new product launches.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
