Global Allergy Immunotherapies Market 2019-2023 | Increasing Prevalence of Allergies Impacting the Market Growth | Technavio
The global allergy immunotherapies market 2019-2023 is expected to post a CAGR of more than 7% during the forecast period, according to the latest market research report by Technavio.
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Technavio predicts the global allergy immunotherapies market to post a CAGR of more than 7% by 2023. (Graphic: Business Wire)
A key factor driving the growth of the market is an increasing prevalence of allergies. Globally, the prevalence of various types of allergies is very strong and it is one of the most common and fastest ailments, with approximately over 500 million people having it. The huge unmet need for allergy treatment has led to various vendors conducting research on novel therapies, thus resulting in advances in the field of immunology therapeutics for allergies. Hence, the global allergy immunotherapies market is expected to witness significant growth during the forecast period.
This market research report on the global allergy immunotherapies market 2019-2023 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the technological advances in allergy diagnostics as one of the key emerging trends in the global allergy immunotherapies market:
Global allergy immunotherapies market: Technological advances in allergy diagnostics
One of the significant challenges faced by the global allergy immunotherapies market is the unclear pathogenesis and prognosis of various allergy indications. The unclear pathogenesis of these allergies leads to poor diagnosis. Thus, the lack of effective diagnostic methods led various companies to conduct research on developing novel therapies to diagnose various allergies. Also, the recent advances are helping in increasing the number of patients being diagnosed in the early stages of allergy and hence, making treatment more effective.
“Siemens Healthcare manufactured IMMULITE 2000 XPi immunoassay system, which is being used for the diagnosis of various medical conditions such as allergy, anemia, reproductive endocrinology and thyroid. These advances are expected to lead to the identification of new allergens, which will lead to the development of better immunotherapies, thus resulting in the growth of the market in the coming years,” says a senior analyst at Technavio for research on pharmaceuticals.
Global allergy immunotherapies market: Segmentation analysis
This market research report segments the global allergy immunotherapies market by product (SCIT and SLIT) and geographical regions (APAC, EMEA, and the Americas).
EMEA led the market in 2018 with a market share of more than 65%, followed by the Americas and APAC respectively. EMEA has seen significant growth in demand for allergy immunotherapies, largely due to the high prevalence of allergies in developed countries of Europe.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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