by Allergy immunotherapy, also known as desensitization or hypo-sensitization, involves gradual controlled exposure to the allergen triggering an allergic reaction. It functions on the premise of changing the body’s immune response to certain allergens. Sublingual immunotherapy or SLIT involves placing allergen extracts under the tongue. It offers convenience of self-administration at home compared to conventional protocols involving repeated doctor’s visits for injections. Growing adoption of SLIT treatments is expected to drive the global allergy immunotherapy market.
The global Allergy Immunotherapy Market is estimated to be valued at US$ 2312.79 Million in 2024 and is expected to exhibit a CAGR Of 5.9% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Growing adoption of sublingual immunotherapy treatments and increasing prevalence of allergic diseases across the world are the major drivers propelling the global allergy immunotherapy market growth over the forecast period. According to a latest report published by the American Academy of Allergy, Asthma & Immunology, more than 50 million Americans suffer from allergies. Rising air pollution levels and changing environmental conditions have led to increased incidences of allergy symptoms. Sublingual immunotherapy is a non-invasive treatment with high efficacy and patient compliance. Its adoption has increased at a significant rate owing to advantages such as home administration, lower costs and less time consumption over conventional methods.
Segment Analysis
The global allergy immunotherapy market can be segmented based on treatment type, allergy type, distribution channel and end-use. The subcutaneous immunotherapy (SCIT) segment currently dominates the market owing to its cost effectiveness and convenience of administration. However, the sublingual immunotherapy (SLIT) segment is expected to witness high growth during the forecast period due to advantages such as ease of administration and reduced risk of anaphylaxis.
PEST Analysis
Political: Allergy immunotherapy market is governed by stringent regulations and guidelines issued by regulatory authorities such as the FDA regarding product registrations and approvals. Favorable reimbursement policies for allergy treatment in major countries are expected to boost market growth.
Economic: Rising healthcare spending across developing nations due to growing income levels and increasing awareness regarding allergy management is a key growth driver. However, high costs associated with diagnosis and treatment poses challenges.
Social: Growing global prevalence of allergic diseases such as allergic rhinitis and asthma due to environmental factors and sedentary lifestyles has increased the patient base. Rising health consciousness is also augmenting the demand.
Technological: Continuous research into development of advanced treatment methods such as sublingual tablets and rapid-dissolving oral films offering convenience and compliance is expected to support the market.
Key Takeaways
The Global Allergy Immunotherapy Market Demand is expected to witness high growth over the forecast period driven by the growing disease burden and increasing adoption. The global allergy immunotherapy market is estimated to be valued at US$ 2312.79 million in 2024 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030.
Europe currently dominates due to availability of advanced treatment options and favorable reimbursement policies. Asia Pacific is expected to emerge as the fastest growing regional market supported by increasing healthcare expenditures, rising standards of living and growing patient awareness. Germany, France and the UK contribute significantly to regional growth. Asia Pacific is expected to witness high growth during the forecast period With growing pollution levels and changing lifestyles, the prevalence of allergic conditions is increasing rapidly in countries such as China and India providing scope for market expansion.
Key players
Key players operating in the global allergy immunotherapy market are B. Braun Melsungen AG, Stallergenes Greer, HAL Allergy Group, ALK, Allergy Therapeutics and more. These players are focusing on new product launches, partnerships and geographical expansion strategies to gain market share.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
