The global Allergy Immunotherapy Market is estimated to be valued at US$ 2312.79 Mn in 2023 and is expected to exhibit a CAGR of 9.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Allergy immunotherapy, also known as desensitization or hypo-sensitization, involves exposing people to gradually increasing amounts of allergens to decrease the symptoms of allergy over time. It is the only medical treatment that can alter the natural course of the disease. Allergy immunotherapy provides long-term relief of symptoms after completion of treatment.
Market key trends:
One of the key trends in the allergy immunotherapy market is the development of sublingual immunotherapy tablets. Sublingual immunotherapy (SLIT) involves administering allergen extracts under the tongue, without injections. SLIT tablets promise added convenience over liquid drops administered under the tongue. Leading players such as ALK-Abello and Stallergenes Greer have launched SLIT tablets for treating allergic rhinitis and are conducting late-stage clinical trials for tablet formulations in other indications. For instance, in October 2022, Stallergenes Greer announced positive phase III results for its house dust mite sublingual tablet in the treatment of allergic asthma. The convenience of oral tablets is expected to drive greater adoption of SLIT and support the growth of the allergy immunotherapy market.
Market Key Trends:
The global Allergy Immunotherapy market has been witnessing rising demand for sublingual immunotherapy (SLIT). SLIT involves putting allergen extracts under the tongue instead of injecting them. It offers advantages such as ease of administration at home and lesser side effects compared to injections. Moreover, manufacturers have been developing customized treatments tailored as per the individual’s specific allergen sensitization profile. This personalized approach has shown better effectiveness.
SWOT Analysis:
Strengths: Growing awareness about allergy treatments. Established distribution networks of major players.
Weaknesses: High cost of allergen-specific immunotherapy. Risk of side effects with improper administration.
Opportunities: Rising healthcare budgets in developing nations. Untapped growth potential in emerging markets.
Threats: Stringent regulations for new product approval. Threat from substitute treatments like subcutaneous immunotherapy.
Key Takeaways
The global Allergy Immunotherapy Market Share Size is expected to witness high growth, exhibiting CAGR of 9.3% over the forecast period, due to increasing prevalence of allergic diseases.
North America dominates the global market currently owing to developed healthcare infrastructure and rising healthcare spending. However, Asia Pacific is expected to grow at the fastest pace during the forecast period supported by growing patient pool, rising disposable incomes and increasing focus of international players in the region.
Key players operating in the Allergy Immunotherapy market include Stallergenes Greer, ALK-Abello A/S, Allergy Therapeutics, Allergopharma, HAL Allergy Group, Aimmune Therapeutics, DBV Technologies, Leti Pharma, and Jubilant HollisterStier.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it