June 18, 2024

The Growing Global Demand For Allergy Immunotherapy Is Driven By Increasing Prevalence Of Allergies

Allergy immunotherapy, also known as desensitization or hypo-sensitization, involves gradual exposure to allergen(s) causing the allergic reaction with the goal to reduce sensitivity, treat allergy symptoms, and improve quality of life. It is a treatment option for environmental allergies like pollen, dust mites, pet dander and venom immunotherapy for insect stings. The treatment involves administering gradually increasing doses of an allergen in an attempt to reduce the symptoms associated with allergen exposure. This allows people with allergies to better tolerate the things that previously caused them problems.

The global Allergy Immunotherapy Market is estimated to be valued at Us$ 2312.79 Mn in 2024 and is expected to exhibit a CAGR Of 5.9% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends in the allergy immunotherapy market is the growing preference for sublingual immunotherapy. Sublingual immunotherapy involves placing allergens under the tongue, allowing it to be absorbed by blood vessels underneath the tongue. It provides convenient, needle-free, and low-risk treatment option for allergic patients. For instance, in May 2020, Aimmune Therapeutics Inc’s drug Palforzia was approved by the U.S. Food and Drug Administration, which is the first treatment for peanut allergy. Palforzia is an oral immunotherapy for the treatment of peanut allergy in children aged 4–17 years. This approval is expected to boost the growth of sublingual immunotherapy segment in the near future.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate as significant capital is required to conduct R&D and attain regulatory approvals for allergen immunotherapy products.

Bargaining power of buyers: The bargaining power of buyers is moderate due to the presence of different treatment options.

Bargaining power of suppliers: The bargaining power of suppliers is low as raw materials required for manufacturing allergen immunotherapy products are commonly available.

Threat of new substitutes: The threat of new substitutes is low as allergen immunotherapy is the only treatment capable of altering the underlying disease process.

Competitive rivalry: The competitive rivalry is high amongst the existing players due to their robust product portfolio and geographical presence.

Key Takeaways

The Global Allergy Immunotherapy Market Demand  is expected to witness high growth. The global allergy immunotherapy market is estimated to be valued at US$ 2312.79 Mn in 2024 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030.

North America is currently dominating the market and is expected to remain the largest region during the forecast period as well owing to the rising prevalence of allergies and increased awareness regarding allergen immunotherapy. Europe is the second largest market for allergy immunotherapy majorly driven by the supportive reimbursement policies for allergen immunotherapy treatment. Asia Pacific is expected to be the fastest growing region in the upcoming years owing to rapidly increasing healthcare spending, growing patient awareness, and improving healthcare facilities in countries such as China and India.

Key players :

 

Key players operating in the allergy immunotherapy market are B. Braun Vet Care GmbH, BioMerieux, HollisterStier Allergy, ALK-Abello A/S, Stallergenes Greer, Hal Allergy Group.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it