FMI Projections: Allergy Immunotherapy Market Poised to Achieve US$4.07 Billion, with 8.9% CAGR Spanning 2023 To 2033

FMI gauges that the worldwide Allergy Immunotherapy Market could arrive at US$ 1.74 billion out of 2023. Blasting at a CAGR of 8.9% from 2023 to 2033, the market is probably going to outperform US$ 4.07 billion by 2033.

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.

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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

“Market players are focusing on developing novel treatment methodologies and procuring approvals from concerned authorities to strengthen their foothold,” said a FMI analyst.

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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Who is Winning?Key players operating in the market are directing their efforts towards developing novel products and obtaining approvals to ensure revenue prospects and maintain their foothold amid the competition. On these lines:

• In May 2020, Stallergenes Greer announced the expansion of the supply of subcutaneous products (SCIT), to expand its offering to patients suffering from asthma, who are at a higher risk of COVID-19.
• In April 2020, ALK Abello announced that Health Canada has approved once-daily ITULATEK, a sublingual tablet for the treatment of tree pollen allergy.

FMI’s report includes profiles of some of the most prominent names in the market including:

• ALK Abello (Europe)
• Stallergenes Greer (Europe)
• Allergy Therapeutics (Europe)
• Aimmune Therapeutics (U.S.)
• Anergis (Europe)
• Arrayit Corporation (U.S.)
• Biomay AG (Europe)
• HAL Allergy Group (Europe)
• DBV Technologies (Europe)

To Know More About Allergy Immunotherapy Market

A new market research report published by Future Market Insights (FMI) on the global allergy immunotherapy market offers an executive-level blueprint of the market. It offers insights into demand trends and provides analysis of opportunities over the forecast period, 2020-2030. The report examines the market through four different segments – product, immunotherapy, allergen, indication, distribution channel, and region. The report also provides extensive assessment of pricing by different key market dynamics, life cycle analysis, and technologies that are being deployed in the supply and product adoption across several end-use industries.

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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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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