Allergy Immunotherapy Market

Global Allergy Immunotherapy Market Size (2023 to 2028)

The global market size for allergy immunotherapy is predicted to be worth USD 3.57 billion in 2023 and USD 6.12 billion by 2028, growing at a CAGR of 11.37% from 2023 to 2028.

Allergy immunotherapy, also known as desensitization or hypo-sensitization, is a medical treatment that prevents allergic reactions to allergens such as foods, medications, bee venom, grass pollens, and home dust mites. It modifies the immune system's response by progressively increasing allergen dosages. An allergist and the patient examine triggering factors for allergy symptoms before starting therapy, including skin and blood testing to confirm the allergens. Allergy immunotherapy reduces inflammation, has a long-term effect, improves immunological tolerance, alters the course of the disease, and enhances the patient's quality of life.

Impact of COVID-19 on the global allergy immunotherapy market:

The ongoing COVID-19 pandemic has taken a significant toll on the global economy, posing various issues across various industries. The pandemic is projected to have several mid-and long-term effects on the market as demand for SLIT pills and injections decreases. Similarly, the shift in focus to vital pharmaceuticals is causing service delays, reducing the market's expansion even further. Likewise, staff shortages and hampered supply chains during nationwide lockdowns will exacerbate the pandemic's impact on growth. The rising COVID-19 count, on the other hand, was beneficial for the adoption of allergy immunotherapy in the treatment of IgE-mediated allergies and the understanding of the immunological consequences on the patients. As a result, many allergists and physicians are increasingly using the approach in their regular practices to treat infected patients. As a result, the market had moderate growth during the pandemic.

MARKET DRIVERS:

Allergies are becoming more common worldwide due to various environmental and lifestyle factors influencing immune system function. As people become more aware of allergy immunotherapies, their income levels rise, their healthcare spending increases and the need for advanced and long-term treatment choices rises, boosting the market's growth. It is also bolstered by increased clinical research and development budgets due to several initiatives done by governmental and non-governmental organizations worldwide. Furthermore, increased air pollution, both indoors and outdoors, has increased the prevalence of asthma and allergic respiratory illnesses.

The use of oral immunotherapy to treat allergic rhinitis has become increasingly common in the healthcare industry to treat unintentional allergies. The overall market is benefiting from increased awareness of these treatments' availability. Pharmaceutical companies have also developed more effective immunotherapies for treating various allergies using the most up-to-date medication development technology. The expected increase in income can be linked to the increased prevalence and burden of allergy disorders worldwide. The composition of allergy shots given to patients to enhance their immune systems has improved due to technological advancements in bioengineering and immunology. In addition, initiatives to address issues such as immunotherapy's safety, efficacy, standardization, prices, and lengthy duration are projected to drive market expansion in the next few years.

MARKET RESTRAINTS:

The high expense of treatment limits therapy uptake and stifles overall progress, and reluctance among people has been fueled by side effects such as gastrointestinal problems and skin ailments. In addition, a lack of competent specialists and unawareness is a challenge to the entire market's growth.

REPORT COVERAGE:

This report on the global allergy immunotherapy market has been segmented and sub-segmented into treatment, type, end-user, and region.

Allergy Immunotherapy Market – By Type:

• Allergic Rhinitis
• Asthma
• Food Allergy
• Venom Allergy

During the forecast period, the allergic rhinitis segment is expected to grow the fastest among all the segments. The increasing rate of this type of allergy throughout all age groups is one of the causes ascribed to the segment's growth.

Allergy Immunotherapy Market – By Treatment:

• Subcutaneous Immunotherapy (SCIT)
• Sublingual Immunotherapy (SLIT)

The segment by immunotherapy type predicted to hold the largest market share is subcutaneous immunotherapy (SCIT). This is because the most widely used and most effective allergy immunotherapy is subcutaneous immunotherapy (SCIT), the only treatment that modifies the immune system, preventing the development of new allergies and asthma. Therefore, immunotherapy's increasing acceptance is a crucial element driving the market's rise.

Allergy Immunotherapy Market – By End-User:

• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy

Based on the end-user, the hospital pharmacy segment is predicted to rise at a healthy CAGR owing to an expanded patient pool and easy access to allergy shots at these facilities. Furthermore, the increased adoption of this procedure in government and semi-government institutions and reimbursements and supportive regulations will contribute to the market's growth.

Allergy Immunotherapy Market – By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Asia-Pacific is expected to hold the highest global allergy immunotherapy market share during the forecast period. Air pollution in China and India has improved due to increased government investments and trade for research and development, an increase in the number of individuals suffering from allergies, and industrialization and infrastructure development. Allergic rhinitis is one of China's most frequent allergens, and its prevalence has risen dramatically over the last two decades. According to experts, the fundamental causes behind the unexpected rise in allergic rhinitis are changing environmental factors, cleanliness and infection control advancements, and increased cases of hereditary complications in the allergy immunotherapy market.

Due to the rising frequency of food allergies, the global allergy immunotherapy market in North America is predicted to rise rapidly over the forecast period. The United States is expected to be the largest allergy immunotherapy market worldwide. The high prevalence of allergies in the United States and strict regulatory rules that require allergic testing in all cases of intensive and emergency care are driving the expansion of the allergy immunotherapy market in the United States.

Because of the strong presence of some top industry players, Europe is expected to take a substantial share of the global allergy immunotherapy market through 2027. A considerable patient population in the region suffers from allergic rhinitis, asthma, and chronic food allergies. Furthermore, increasing allergy drug approvals will propel the market forward even faster.

KEY MARKET PLAYERS:

Companies playing a vital role in the global allergy immunotherapy market profiled in this report are ASIT Biotech, Circassia, Mylan N.V., Adamis Pharmaceuticals Corporation, Merck KGaA, Stallergenes Greer PLC, Allergy Therapeutics, ALK-Abelló A/S, DESENTUM OY, HAL Allergy B.V., HollisterStier Allergy, LETIPharma, and DBV Technologies SA.

RECENT HAPPENINGS IN THIS MARKET:

• In 2020, Health Canada approved once-daily ITULATEKTM to treat tree pollen allergy, according to ALK, a global, research-driven pharmaceutical business focused on preventing, diagnosing, and treating allergies.
• Aptar Pharma, a global leader in drug delivery systems, services, and active material science solutions, announced an exclusive collaboration with Stallergenes Greer, a global healthcare company specializing in allergen immunotherapy (AIT), to develop the first-of-its-kind connected drug delivery device and companion mobile app for patients receiving Stallergenes Greer's sublingual AIT treatments.