Allergy Immunotherapy Market In-Depth Analysis on Size, Cost Structure and Prominent Key Players
In its new study, Future Market Insights (FMI) has forecast the global allergy immunotherapy market growth to register upto 2030. The study also projects that market will reach a valuation of US$ 2,892.2 Mn by the end of 2030
The increasing prevalence of various kinds of allergies – allergic rhinitis, allergic asthma, food allergies, skin allergies, and others is propelling the demand for effective treatments. As patients seek advanced treatments to develop resistance against allergies and lead a hassle-free life, allergy immunotherapy has emerged as a fitting medical solution.
Moreover, allergic rhinitis is among the most common allergies, affecting 10% to 30% of the global population. Also known as hay fever, it leads to inflammation in the nose, swelling in the eyes, sneezing, among other symptoms when the person is exposed to allergens – mostly dust mites and pollen.
Although a remarkable proportion of the population does not seek medical attention, rising awareness regarding the availability of these treatments, coupled with increased spending on healthcare is expected to remain a crucial demand-side trend through the forecast period.
Key Takeaways from the Allergy Immunotherapy Study
- On the basis of product, injections are poised to account for over 2/3rds of market share backed by their effectiveness and easy availability
- Based on immunotherapy, SCIT holds the lion’s share in market value, accounting for 66% of global value, while SLIT is exhibiting higher attractiveness
- Among indications, allergic rhinitis and allergic asthma are poised to collectively account for around 3/5th of global value, ascribed to their high prevalence
- By type of allergen, pollens and house dust mites will cumulatively account for more than 2/5th of market value since pollens such as grass pollen and weed pollen are highly common in living areas
- Based on distribution channels, institutional sales account for more than half of overall value owing to high inpatient rates in government and semi-government hospitals
- Europe is expected to prevail as the most lucrative regional market, on the back of the rising prevalence of different types of allergies in the region
- North America and East Asia will cumulatively account for more than a quarter of market value, owing to the presence of a wide population base with allergies coupled with developing healthcare infrastructure
COVID-19 Impact on Allergy Immunotherapy Market
The outbreak of COVID-19 has sent ripples of uncertainty across the global pharmaceutical sector and the allergy immunotherapy market is no different. The market is expected to witness several mid-term and long-term impacts due to the pandemic, as demand for SLIT tablets and injections experiences contraction.
Likewise, shifting presence towards essential drugs is causing a delay in services, thus further slowing down the growth of the market. Along similar lines, shortages of staff and hindered supply chains during nation-wide lockdowns will further challenge the growth through the pandemic.
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Allergy Immunotherapy Market – Segmentation
Product:
- SLIT Tablets
- Odactra
- Grastek
- Ragwitek
- Oralair
- Actair
- Others
- Oral
- Palforzia
- Others
- Injections
- Others
Immunotherapy:
- Sublingual Immunotherapy
- Subcutaneous Immunotherapy
- Specific Immunotherapy
- Others
Indication:
- Allergic Rhinitis
- Allergic Asthma
- Food Allergy
- Atopic Dermatitis
- Others
Allergen:
- Pollens
- Grass Pollens
- Weed Pollens
- Tree Pollens
- House Dust Mites
- Mould
- Animal Dander
- Bee Venom
- Cockroaches/Insects
- Others
Distribution Channel
- Institutional Sales
- Government Hospitals
- Semi-Government Hospitals
- Private Hospitals
- Retail Sales
- Retail Pharmacy
- Drug Stores
- Online Pharmacy
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