Allergy Immunotherapy Market Size is set to attain notable proceeds during 2021 to 2027 on account of the rising investments and the higher R&D activities for novel therapies. The surging air pollution levels have resulted in an increasing number of asthma and allergic disorders. The growing demand for immunotherapy products in disease treatment will favor the market growth.
Allergy immunotherapy is a technique involving injections on a regular basis, to help control the symptoms in people affected by various allergies.
The market share of the subcutaneous therapy (SCIT) segment will expand with its growing preference over SCIT led by the cost-effectiveness and abundant availability of allergy shots. The rising prevalence of stringent insect sting allergies and asthma will drive the market expansion.
The SLIT segment will see lucrative growth with the increasing consumer spending on medical treatments. The higher efforts of market participants on drug upgradations and the presence of FDA-approved SLIT tablets, mainly in the U.S., will contribute to the market progression.
The allergic rhinitis segment is expected to grow due to the higher incorporation of advanced treatment methods. The rising penetration of allergic diseases will play a crucial role in the industry expansion. According to Medscape, the prevalence rate of allergic rhinitis across the U.S. ranges from 3% to 19%, as it affects over 30 to 60 million people each year.
The demand for allergy immunotherapy across hospitals will grow with the expanding patient pool and the ease of access to allergy shots in these facilities. In addition, the increasing penetration of this technique in government and semi-government hospitals along with the provision of reimbursements and supportive policies will act as positive contributors to the industry growth.
Europe is anticipated to capture a significant allergy immunotherapy market share through 2027 impelled by the robust presence of some of the leading industry players. The region is home to a large patient pool that is prone to allergic rhinitis, asthma, and chronic food allergies. Furthermore, the mount in the instances of approvals of allergy drops will further catapult the progression of the market.
Some of the prominent global market players include ALK-Abelló A/S, Sallergenes Greer, Heska, Biodiagnostic, and Merck (E. Merck KG).
These companies are constantly taking up partnership-oriented strategies, like acquisitions and partnerships, along with initiatives, including innovation and investments to enhance their geographical presence and generate higher revenue sales.
For instance, in October 2020, ALK made its once-daily ITULATEK™, which is a standardized allergen extract-based white birch sublingual tablet used in the treatment of tree pollen allergy, available through prescription to patients in Canada.
In another instance, in July 2019, Stallergenes Greer, inked a research collaboration deal with Alyatec, a well-known French contract research organization, to advance its precision medicine in allergy immunotherapy and to proliferate its allergy pathophysiology and endotype knowledge.
The ongoing COVID-19 pandemic led to a massive toll on the global economy as it presented numerous challenges on several industry verticals. However, the escalating COVID-19 count proved profitable for the adoption of allergy immunotherapy in the treatment of IgE-mediated allergies and to understand the immunological effects on the affected patients. Owing to this, numerous allergists and physicians are largely deploying the technique in their current daily practices to tend to the infected individuals.
Market, By Treatment
Market, By Type of Allergy
Market, By Distribution Channel
The above information is provided for the following regions and countries: