Global Allergy Immunotherapy Market is expected to grow at a CAGR of 9.00% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Allergy Immunotherapy Market by Treatment Type (Sublingual Immunotherapy, Subcutaneous Immunotherapy), Allergy Type (Allergic Asthma, Allergic Rhinitis), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027.
The global allergy immunotherapy market is expected to grow from USD 1.60 billion in 2019 to USD 3.18 billion by 2027, at a CAGR of 9.00% during the forecast period 2020-2027. Europe has the largest share in the market due to strong presence of key players such as Merck KGaA, Mylan N.V., Circassia and ASIT Biotech. Rate of prevalence of allergic disorders is higher in the region and it is expected to grow due to several factors such as pollution, climate change, urbanization and industrialization. Also, increased approval related with allergy drops as well as formulation and availability of allergen extracts are factors contributing to the growth of the market.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Key players in the allergy immunotherapy market are Circassia, Adamis Pharmaceuticals Corporation, Stallergenes Greer plc, ALK-Abelló A/S, HAL Allergy B.V., LETIPharma, DBV Technologies SA, ASIT Biotech, Mylan N.V., Allergy Therapeutics, DESENTUM OY, HollisterStier Allergy and Merck KGaA. Key players are emphasizing more on research and development activities in order to sustain in a competitive market. Stallergenes Greer Ltd. partnered with Anergis in order to analyze overlapping peptides allergen immunotherapy. Further, Adamis Pharmaceuticals collaborated with Sandoz in order to distribute SYMJEPI. It is used in allergic disorders such as anaphylaxis and allergen immunotherapy.
The treatment type segment includes sublingual immunotherapy and subcutaneous immunotherapy. Subcutaneous immunotherapy segment is anticipated to have the highest growth in the market. It is highly efficient in treating asthma related allergies. The treatment is unique and offers symptomatic relief by targeting the immunological mechanism. Safety and efficiency are driving the growth of the market. Also, sublingual immunotherapy segment is expected to show a significant growth over the forecast period. It is highly beneficial for the patients who are enable to respond to allergy shots. The allergy type segment includes allergic asthma and allergic rhinitis. Allergic rhinitis is anticipated to have the highest growth in the allergy immunotherapy market. A rise in the prevalence of asthma is a contributing factor to the growth of the market.
In some cases, patients do not respond to traditional symptomatic medications. Hence, key players are focusing more on research and development activities. Aimmune Therapeutics, a company, innovating immunotherapy drug for peanut allergy known as AR101. Strong pipeline for the treatment of allergy related disorders are expected to boost the growth of the market. Companies are adopting immunotherapy products for the higher growth avenues. Researchers are testing sublingual immunotherapy for food allergies such as peach, kiwi, peanut and milk allergy. Regular dosage of the medication is more effective in the treatment of allergy immunotherapy.
About the report:
The global allergy immunotherapy market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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