Allergy Immunotherapy market information, by allergy type (allergic rhinitis, allergic asthma, peanut allergy, cat allergy, and other allergies), by treatment (Subcutaneous Immunotherapy (SCIT), Sublingual Immunotherapy, and Specific Immunotherapy (SIT)) – global forecast till 2023
As per the latest published report by Market Research Future (MRFR), the Global Allergy Immunotherapy Market is expected to grow at an impressive rate of 10.85% over the forecast period. The market valuation is calculated to reach USD 4,324.7 million by 2023.
Competitive Landscape
The Global Allergy Immunotherapy Market includes various key and prominent players, including DBV Technologies (France), Stallergenes Greer (UK), ALK Abello A/S (Denmark), Circassia (UK), Merck KGaA (Allergopharma) (Germany), Allergy Therapeutics (UK), HAL Allergy Group (Netherlands), and others.
March 19th, 2019, it is revealed that Aimmune’s Biologics License Application is accepted and approved by the US Food and Drug Administration (FDA) for the treatment of curbing down the risk of anaphylaxis in both peanut-allergic adolescents and children.
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Global pharmaceutical company, ALK recently announced that its sublingual allergy immunotherapy (SLIT) tablet ODACTRA will be now available through prescription in the United States (US) for patients within the bracket of 18 years and 65 years of age, suffering from house dust mite (HDM)-induced allergic rhinitis. ODACTRA is a fast dissolving immunotherapy tablet to treat dust mite allergy and is also a new treatment option for physicians and patients. ODACTRA is the first HDM SLIT-tablet to be approved for use in the US.
Allergy Immunotherapy Market – Overview
Market Research Future (MRFR) confirms that the global market for allergy immunotherapy is estimated to reach USD 4,324.7 million by 2023. MRFR also estimates that the market is set to grow phenomenally at the CAGR of 10.85% during the forecast period (2017–2023). The apparent market expansion can be accredited to rise in incidences of allergies across the globe. Growing awareness regarding allergy treatment and launch of new products boost the market growth imminently. Moreover, high prevalence of allergies cannot be tackled by pharmacotherapy alone, thus the need for allergy immunotherapy arises to curb this demand. Furthermore, this therapy increases immunological tolerance and alters the disease course, providing the long-term effect. These benefits account for its massive demand from all quarters of the world. Changing healthcare practices, growing healthcare expenditure and extended insurance cover provide the gist of the market expansion across the globe.
A restraining factor that can potentially impede the ongoing market growth includes occurrence of side effects after undergoing allergy immunotherapy. However, the success rate as compared to the negative effects is quite high making sure that the global market gains upward traction without any hiccups. Adding ammunition to this growth are growing clinical research and development (R&D) budget provided by governments and non-profit organizations.
Segments for Global Allergy Immunotherapy Market
The global allergy immunotherapy market is segmented on the basis of allergy type and treatment.
By allergy type, the market is segmented on the basis of allergic rhinitis, allergic asthma, peanut allergy, cat allergy, and other allergies. The allergic rhinitis segment has captured the largest market share in the global market whereas the peanut allergy segment is projected to grow at a competitive CAGR of 11.30% during the forecast period. High usage of tobacco, greater respiratory anomalies and rising demand for new treatments has led to the growth of the allergic rhinitis segment.
By treatment, the market is segmented on the basis of subcutaneous immunotherapy (SCIT), sublingual immunotherapy, and specific immunotherapy (SIT). Sublingual immunotherapy is sub-segmented into sublingual immunotherapy drops and sublingual immunotherapy tablets. The subcutaneous immunotherapy (SCIT) segment claims the largest market share in the global allergy immunotherapy market and is estimated to reach the value of USD 2,089.2 by 2023. Subcutaneous immunotherapy (SCIT) is highly favorable in the treatment of allergies as it provides symptomatic relief, at the same time modifying the allergic disease by targeting the underlying immunological mechanism.
Regional Analysis for Global Allergy Immunotherapy Market
By region, the global allergy immunotherapy market has been segmented into Americas, Europe, Asia Pacific, and the Middle East & Africa. Europe accounts for the maximum share of the market and is expected to retain a significant share of the market towards the end of the assessment period. Led by Western Europe, the factors favoring the growth of the regional market are increasing patient pool, rising healthcare expenditure, etc.
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Americas market is estimated to reach a valuation of USD 1,409.6 Mn by 2023. The growth is attributable to the increasing awareness regarding treatment of allergies and high prevalence of allergic rhinitis & skin allergy.
Asia Pacific is projected to register a CAGR of 11.32% during the forecast period. Meanwhile, the U.A.E. currently holds 53.5% share of the Middle East & Africa market and resonates strong opportunities for growth.
Some Brief Table of Contents of Report
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.1 Drivers
4.2 Restrains
4.3 Opportunities
4.4 Challenges
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
TOC Continued…
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