31 May 2023
Visiongain has published a new report entitled Allergy Immunotherapy Market Report 2023-2033: Forecasts by Treatment Type (Subcutaneous Immunotherapy (SCIT), Sublingual Immunotherapy (SLIT)), by Allergy Type (Allergic Rhinitis, Asthma, Others), by Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern Analysis.
The allergy immunotherapy market was valued US$1,907.5 million in 2022 and is projected to grow at a CAGR of 7.6% during the forecast period 2023-2033.
The allergy immunotherapy industry is experiencing robust growth due to several key factors. The rising prevalence of allergies, growing awareness and diagnosis, inadequacy of symptomatic treatments, advancements in immunotherapy techniques, a favourable regulatory environment, increasing healthcare expenditure, and the personalized medicine approach are all driving forces behind the industry's expansion. As research and development continue to progress, and with ongoing investments in the field, allergy immunotherapy is poised to play an increasingly important role in the management of allergies, offering improved quality of life for millions of individuals worldwide.
How has COVID-19 had a Significant Impact on the Allergy Immunotherapy Market?
The COVID-19 pandemic has affected the allergy immunotherapy industry in both good and bad ways. Due to the pandemic's overwhelming impact on healthcare institutions and clinics, non-essential medical therapies, such as allergy immunotherapy, had to be delayed or discontinued. Patients were no longer able to obtain sublingual immunotherapy (SLIT) or allergy injections as a result of this disturbance in routine healthcare procedures. Many people avoided going to medical institutions until it was absolutely essential out of concern of getting COVID-19. Patient visits for allergy testing and subsequent immunotherapy treatments decreased as a result of this. As fewer people began or continued allergy immunotherapy, the company suffered from the decline in patient volume. The COVID-19 pandemic originally caused considerable hurdles to the allergy immunotherapy industry; however, some firms were able to adapt and continue operating because to the use of telemedicine and the accessibility of SLIT. The sector is anticipated to rebound and continue its development trajectory when things get better.
How will this Report Benefit you?
Visiongain’s 187-page report provides 89 tables and 120 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the allergy immunotherapy market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Allergy Immunotherapy. Get financial analysis of the overall market and different segments including treatment type, allergy type, distribution channel and capture higher market share. We believe that there are strong opportunities in this fast-growing allergy immunotherapy market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Rising Prevalence of Allergies Coupled with Rising Cost of Healthcare to Boost Industry Growth
The allergy immunotherapy market is a rapidly growing market, and it is expected to continue to grow in the coming years. This is due to a number of factors, including the rising prevalence of allergies, the rising cost of healthcare, and the growing demand for personalized medicine. The rising prevalence of allergies creates a growing patient population in need of effective treatment options. Allergy immunotherapy provides a targeted approach to address the underlying immune response and can provide long-term relief and potential remission. As the prevalence of allergies continues to rise, the demand for allergy immunotherapy is expected to increase, driving the growth of the industry.
Environmental factors, such as pollution, climate change, and urbanization, have been linked to the increased prevalence of allergies. Changes in air quality, exposure to allergens, and lifestyle patterns in urban settings can contribute to the development of allergic conditions. Furthermore, changes in lifestyle, particularly in Westernized societies, have been associated with an increased risk of allergies. Factors like reduced exposure to microbial diversity, dietary changes, and sedentary lifestyles have been suggested to contribute to the development of allergies.
The projected growth in revenue in the allergy immunotherapy industry can be attributed to the rising prevalence and burden of allergic disorders worldwide. Allergies have become a significant health issue, imposing a substantial burden on healthcare systems. This burden, particularly in the case of complex allergies with higher morbidity, has driven research and development efforts in the market, leading to the introduction of novel therapies.
One contributing factor to the rising prevalence of allergies is the rising levels of air pollution, both indoors and outdoors. Pollutants in the air can trigger allergic reactions and exacerbate respiratory conditions such as asthma and allergic disorders of the respiratory tract. According to the Asthma and Allergy Foundation of America (AAFA), the increased pollen counts alone are responsible for over 25 million allergies. This indicates the significant impact of environmental factors on allergy prevalence.
In Canada, allergic rhinitis affects a substantial portion of the population, estimated to be around 20 to 25%, as reported by the Canadian Allergy, Asthma, and Immunology Foundation. Additionally, approximately 50% of individuals with allergic rhinitis cannot be effectively treated using conventional symptomatic medications. This highlights the need for innovative approaches, such as immunotherapy, to address the underlying immune response and provide long-term relief.
In response to these challenges, key companies in the allergy immunotherapy industry are focused on the development of innovative products. These companies aim to provide more targeted and personalized treatment options that can effectively address the specific needs of patients with allergic disorders. The development of novel immunotherapy products holds the potential to revolutionize the field by providing long-lasting benefits and reducing the reliance on symptomatic medications.
Overall, the rising prevalence of allergic disorders, particularly those with a significant burden on healthcare systems, coupled with the impact of air pollution and the limitations of conventional medications, have created a favorable market environment for the growth of the allergy immunotherapy industry. Ongoing research and development efforts are expected to lead to the introduction of advanced immunotherapy options, improving patient outcomes and driving industry growth.
Rising Allergic Rhinitis and Asthma Cases
Allergic rhinitis and asthma are common respiratory disorders that affect the quality of life of patients and have a significant impact on healthcare expenditure. The number of cases affected with allergic rhinitis and asthma is rising, particularly in emerging nations. Other allergic diseases include life-threatening anaphylaxis, conjunctivitis, angioedema, urticaria, eczema, eosinophilic disorders, and insect allergies. Increasing air pollution and harmful effects of other environmental factors lead to the development of allergic diseases. Presence of large number of allergens responsible for causing allergic rhinitis and availability of several treatment options makes it more complex to treat. An integrated approach to diagnosis coupled with growing coordination among physicians and patients will enable early treatment and care.
Where are the Market Opportunities?
The rising burden of allergies worldwide has created a significant need for more effective treatments. Fortunately, there is promising news on the horizon that suggests allergy immunotherapy will play an essential role in the future of allergy treatment.
One of the most exciting developments is sublingual immunotherapies (SLIT) which have shown equal efficacy to traditional injection-based immunotherapy while being less invasive and more convenient. Moreover, emerging economies are expected to be a major growth market for SLIT due to their lower cost and ease-of-use.
Additionally, scientists are exploring new forms of allergen-specific immunotherapy such as synthetic peptides or DNA vaccines. These therapies aim to improve patient outcomes by offering safer and more precise methods compared to current treatments.
Research around personalized medicine shows great promise in tailoring allergy treatments based on individual genetic profiles and immune response patterns. This approach could provide better long-term solutions with fewer side effects than current generalized treatment options. These innovations represent tremendous opportunities for the field and bring hope that we may soon see an end to the debilitating impact of allergies.
The major players operating in the allergy immunotherapy market are Aimmune Therapeutics, ALK-Abelló A/S, Adamis Pharmaceuticals Corporation, Allergy Therapeutics, Allergopharma, DBV Technologies, DESENTUM OY, HAL Allergy B.V., HISHOH Biopharma, HollisterStier Allergy (Jubilant Pharma Company), LETI Pharma, and Stallergenes Greer. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
• On 7th March 2023, DBV Technologies announced that the first patient was screened in the Company’s VITESSE (Viaskin Peanut Immunotherapy Trial to Evaluate Safety Simplicity and Efficacy) Phase 3 clinical trial that will evaluate the modified Viaskin Peanut 250 μg patch (DBV712) in peanut-allergic children ages 4 through 7 years.
• On 17th January 2022, Stallergenes Greer entered into a research collaboration on the discovery of biomarkers of AIT efficacy with Imperial College London, a global top ten university with a world-class reputation in science, engineering, business and medicine.
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