The Global Allergy Immunotherapy Market was around USD 2,100.0 million in 2016 and is expected to reach USD 4,324.7 million by 2023 which is a projected CAGR of 10.85%
The Global Allergy Immunotherapy Market has been evaluated as a rapidly growing market and it is expected to continue growing in the near future. Allergy immunotherapy is a disease-adapting therapy, effective for the treatment allergic rhinitis/conjunctivitis, allergic asthma, peanuts allergy, cat allergy, and stinging insect hypersensitivity. According to the World Allergy Organization (WAO), approximately 10%-40% of the global population is suffering from allergy in 2013.
Increasing demand for advance allergy treatment, increasing research and development activity, increasing research in improving the allergy treatment and introduction of new immunotherapeutic drugs are the major driving forces for the global allergy immunotherapy market. The demand for allergy immunotherapy treatment in emerging markets of Asia and Latin America is continuously growing that is another major factor for the market growth. Increasing knowledge of the immunotherapy, new product launches, increasing funding for R&D, and approvals are leading the market growth.
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Competitive Analysis:
The global market consist of players such as ALK Abello A/S (Denmark), Allergy Therapeutics (UK), Circassia (UK), DBV Technologies (France), Stallergenes Greer (UK), Merck KGaA (Allergopharma) (Germany), and HAL Allergy Group (Netherlands) are some of the prominent players at the forefront of competition in the global allergy immunotherapy market and are profiled in MRFR Analysis report.
There are large number of companies involved in the development of the drugs and therapies for the allergy which are now being used in majority part of the developed countries. Global market for allergy immunotherapy is majorly dominated by six companies namely ALK-Abelló A/S, Stallergenes Greer, HAL Allergy Group, Allergy Therapeutics, Merck Group, and others. ALK-Abello taking about 38%, and Stallergenes Greer capturing 23%, these two companies hold more than half the global market for allergy immunotherapy.
ALK-Abelló A/S offers allergy immunotherapy products in the form of injections, sublingual drops and sublingual tablets. In January 2017, the company has acquired the operating assets in Allergy Laboratory of Oklahoma Inc., and Crystal Labs LLC. Back in 2015, the company took over the allergy immunotherapy activities of its former distributor in Turkey, Albio Allerji Ürünleri Ith. Ve Tic. Ltd. Sti. (Albio).
Regional Analysis:
Considering the global scenario of the allergy immunotherapy market, there are four main regions, the Americas, Europe, Asia Pacific, and Middle East & Africa.
Europe is holding the largest market share in global allergy immunotherapy market. Some major factors that attribute the growth of Europe allergy immunotherapy market are, rise in prevalence of chronic diseases like allergy, asthma, diabetes and hypertension. Europe consists of two regions namely Western Europe and Eastern Europe. Western Europe is generating more revenue as compared to Eastern Europe.
The Americas are the second largest market share. The Americas mainly include North America and Latin America. Some key factors that are driving the growth for the American Allergy Immunotherapy market growth are increasing prevalence of allergic asthma, food allergy, and eczema, advanced healthcare facilities, and funding for research and new product or therapy development.
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Asia Pacific is the fastest growing market. Increasing adoption, improving healthcare infrastructure and rising awareness about allergy immunotherapy are driving the growth for this market. Improving healthcare infrastructure and demand of allergy immunotherapy treatment are the major drivers for the Middle East & Africa allergy immunotherapy market.
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