Allergy Immunotherapies Market: Growing Prevalence of Allergic Disorders
The allergy immunotherapies market was valued at US$ 1,819.18 million in 2019 and is projected to reach US$ 4,185.89 million by 2027; it is expected to grow at a CAGR of 11.1% from 2020 to 2027.
Allergy immunotherapy, also called desensitization or hypo-sensitization, is a medical treatment focused on several types of allergies. There is a growth in the prevalence of allergies, and conventional treatment interventions, such as pharmacotherapy, have often been found incompetent. Consequently, allergy immunotherapy is growing popularity for curing several types of allergies by increasing immunological tolerance and changing the course of the disease. The allergy immunotherapies market is expected to grow owing to key driving factors such as the increasing prevalence of allergic disorders and technological advancements in sublingual dosage formulations. However, drawbacks associated with the use of allergy immunotherapies and regulatory variations across regions is likely to hamper the growth of the market during the forecast period.
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Key Findings from The allergy immunotherapies Market
Global allergy immunotherapies market, based on treatment is segmented into Subcutaneous Immunotherapy (SCIT) and Sublingual Immunotherapy (SLIT). In 2019, the Subcutaneous Immunotherapy (SCIT) segment held the largest share of the market, by Treatment. However, the Sublingual Immunotherapy (SLIT) segment is expected to grow at the fastest rate during the forecast period.
The global allergy immunotherapies market, based on allergy type was segmented into allergic rhinitis, asthma, food allergy, venom allergy, and others. The allergic rhinitis segment held the highest share of the allergy immunotherapies market in 2019, by allergy type. Moreover, the same segment is anticipated to witness growth at a significant rate during the forecast period, 2020 to 2027.
Global allergy immunotherapies market, based on distribution channel is segmented into, hospital pharmacy, retail pharmacy and online pharmacy. In 2019, the hospital pharmacy settings segment held the largest share of the market, by Distribution channel. Moreover, the same pharmacy segment is expected to grow at the fastest rate during the forecast period
Product launches and expansion strategy are commonly adopted by companies to expand their footprint worldwide and meet the growing demand. These strategies are commonly adopted by the market players in order to expand its product portfolio.
ALK-Abelló A/S, AIMMUNE THERAPEUTICS, INC., LETIPharma, Stallergenes Greer, HAL Allergy B.V, Anergis, DBV Technologies, Dermapharm Holding Allergy Therapeutics are among the leading companies operating in the allergy immunotherapies market.
Growing Prevalence of Allergic Disorders
Allergic disorders are the most common problems addressed by primary care physicians and pediatricians; more than 25% of the population in developed countries suffers from allergies. Allergies encompass a spectrum of disorders that are characterized by the development of an overactive immune response to an allergen, resulting in Th2 polarized cytokine response to the allergen and the production of an IgE antibody response.
The growing prevalence of allergic disorders demands allergy immunotherapy, which is a safe and effective treatment against allergens such as pollen, insect molds, and animals, as well as for allergic asthma. In the recent report of the National Health and Nutrition Examination Survey, 54% of the population had positive test responses to one or more allergens. According to the American Academy of Allergy, Asthma & Immunology, allergic rhinitis affects 10–30% of the population, and adverse drug reactions may affect up to 10% of the global population, and nearly 20% of hospitalized patients. As per the data of the National Center for Health Statistics survey carried out in 2018, the number of reported respiratory allergies, food allergies, and skin allergies in the past 12 months was 7.1 million, 4.8 million, and 9.2 million, respectively.
Immunotherapy is a preventive treatment for allergic reactions to substances such as house dust mites, bee venom, and grass pollens. Immunotherapy involves a gradual increase in doses of the allergen or substance to which the patient is allergic. The incremental doses of the allergen cause the immune system to become less sensitive to the substance, probably by inducing the production of a "blocking" antibody; this lowers the allergic symptoms when the substance is encountered in the future. Immunotherapy also reduces the inflammation that characterizes asthma and rhinitis. Allergic disorders are mostly treated with immunotherapy; thus, the growing prevalence of allergic diseases drives the growth of the market.
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