Allergy Immunotherapy Market
Number of pages: 100 | Report Format: PDF | Published date: May 04, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
|
Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 2.42 billion |
|
Revenue Forecast in 2031 |
US$ 5.02 billion |
|
CAGR |
8.4% |
|
Base Year for Estimation |
2022 |
|
Forecast Period |
2023 to 2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Allergy type, Treatment Type, Distribution Channel, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global allergy immunotherapy market was valued at US$ 2.42 billion in 2022 and is expected to register a revenue CAGR of 8.4% to reach US$ 5.02 billion by 2031.
Allergy Immunotherapy Market Fundamentals
Allergy immunotherapy, also known as allergy shots, is a treatment for allergic reactions that involves exposing a person to small, gradually increasing doses of an allergen. This treatment aims to help the body tolerate the allergen, reducing the severity of allergic reactions or preventing them altogether. Allergy immunotherapy effectively reduces the severity of allergic reactions and improves the quality of life for people with allergies. The allergy immunotherapy market has been growing steadily in recent years and is expected to continue in the coming years.
The global allergy immunotherapy industry analysis report comprehensively analyzes the market, with factors that either aid or impede the market growth, such as its drivers, restraints, and opportunities. The research provides insight into the companies that operate in the Allergy Immunotherapy market and their efforts to position themselves as key players through expansion strategies and innovations. It also highlights recent developments that contribute to the Allergy Immunotherapy market growth. The research also analyzes the impact of the COVID-19 pandemic.
This research is valuable for businesses seeking insights into the market, customers, and competition. The research provides special insights into the segmentation, regions, market size & projection, revenue CAGRs, and other valuable information that may help clients make the right decisions. The report assembles data from market players and professionals across the industrial value chain. The study also incorporates qualitative and quantitative assessments from industry professionals. Secondary research, surveys and interviews, and statistical modeling are all used in our research to estimate market size and projection. Our reports deliver the most reliable market data because of our specialized research methods.
[85236]
Allergy Immunotherapy Market Dynamics
Factors driving the growth of the global allergy immunotherapy market include an increasing prevalence of allergies worldwide, rising demand for effective allergy treatments, and a growing awareness of the benefits of allergy immunotherapy among patients and healthcare providers. However, allergy immunotherapy can be expensive, especially in the initial phase, where injections are given frequently. This can limit access to treatment for some patients, particularly in developing countries with limited healthcare budgets.
Allergy Immunotherapy Market Ecosystem
Allergy Immunotherapy Market, by Allergy Type
Allergy Immunotherapy Market, by Treatment Type
Allergy Immunotherapy Market, by Distribution Channel
Allergy Immunotherapy Market by Treatment Type
[147]
The sublingual immunotherapy (SLIT) segment will have the highest CAGR throughout the projection period. For individuals who cannot receive allergy injections, SLIT is an essential option. SLIT pills that have received FDA approval and are currently available in the United States include Odactra, Grazax, Oralair, and Ragwitek. It is anticipated that liquid formulation will also be authorized for therapeutic use in the United States.
The market segmentation sections provide the allergy immunotherapy market outlook in terms of the demarcation of different consumer groups. Market segmentation is the split of industry into subgroups depending on characteristics such as allergy type, treatment type, distribution channel, and other factors. Market segmentation data helps organizations understand the preferences and distinctive demands of different customer groups and implement targeted marketing strategies. This data additionally helps in identifying potential allergy immunotherapy market demand opportunities.
Allergy Immunotherapy Market by Region
Europe accounts for the largest revenue share in the global allergy immunotherapy market. The substantial presence of top market players, including ASIT Biotech, Circassia, Mylan N.V., and Merck KGaA, is a driving factor. More than 150 million people in Europe currently have allergic illnesses. By 2025, it is predicted that more than 50% of the region's population will have at least one type of allergy because of several factors, including industrialization, urbanization, climate change, and pollution. Additionally, an increase in the number of allergy drops approved in Europe leads to a higher share of the region. The adoption of allergy immunotherapy in Europe and North America has been found to have important distinctions and commonalities. Differences can be seen in the formulation, availability, and use of allergen extracts.
During the forecast period, Asia Pacific is anticipated to have the fastest CAGR in the global allergy immunotherapy market. The market growth can be attributable to the strong presence of top businesses in developing Asian countries and investments made for SLIT enhancement, dosage standardization, and long-term result evaluation.
Based on the regions, the global allergy immunotherapy market is segmented into:
The industry's regional segmentation provides insights into geographic pockets in terms of Allergy Immunotherapy industry trends, market size, share, and growth rate. This information helps organizations assess potential growth opportunities in new regional markets, understand competitive threats, and develop localized sales and expansion strategies. This section also offers deeper insights into the regional and country-level allergy immunotherapy market overview.
Key Components of the Report
Allergy Immunotherapy Market Competitive Landscape
The market competitive landscape analysis is performed by gathering and evaluating data about the key competitors, industry trends, and market dynamics. It involves collecting and analyzing data on factors such as products, pricing, geographic reach, customer demographics, marketing tactics, and recent developments. Competitive landscape analysis can help organizations identify present or prospective opportunities and risks in the market.
Allergy Immunotherapy Market Strategic Developments
Reasons To Buy This Report
Key Strengths of Our Report
Target Audience to Benefit from this Report.
In allergy immunotherapy, commonly called allergy shots, a patient is exposed to modest amounts of an allergen over time to treat allergic reactions. The goal of this therapy is to assist the body in developing a tolerance to the allergen, lessening or eliminating allergic responses. It has been demonstrated that allergy immunotherapy is beneficial in lowering the intensity of allergic reactions and enhancing the quality of life for allergy sufferers.
The global allergy immunotherapy market was valued at US$ 2.42 billion in 2022.
Asia Pacific is projected to register the largest allergy immunotherapy market size during the forecast period from 2023 to 2031.
The global allergy immunotherapy is expected to grow at 8.4% revenue CAGR during the forecast period from 2023 to 2031.
The resultant market size of the allergy immunotherapy market is expected to reach US$ 5.02 billion by 2031.
Advances in immunotherapy, such as the development of sublingual immunotherapy (SLIT) and new adjuvants, are making this treatment more effective and easier to administer. The global allergy immunotherapy market is attracting increasing investment in research and development, leading to the development of new and more effective therapies.
Mylan N.V., Merck KGaA, Stallergenes Greer plc, Allergy Therapeutics, and HAL Allergy Group are a few key players in the global allergy immunotherapy market.
Allergy immunotherapy requires a considerable time commitment, with injections typically given over a period of several years. This can be a barrier to adherence, as patients may find it difficult to commit to such a lengthy treatment regimen.
*Insights on financial performance are subject to the availability of information in the public domain