Allergy immunotherapy involves administering gradually increased doses of allergens to desensitize an individual's immune system. This is done to treat different types of allergies including allergic rhinitis, asthma, food allergies and more. Allergen immunotherapy is a highly effective treatment that offers long-term benefits by modifying the disease.
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 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Growing adoption of allergen immunotherapy driven by its proven efficacy over alternative treatments, is augmenting the global market growth. Allergen immunotherapy offers significantly higher efficacy and longer-lasting effects compared to pharmaceutical interventions alone. It has been found helpful in improving quality of life and reducing medication usage. Moreover, the development of advanced treatments such as sublingual and subcutaneous immunotherapies having improved safety profiles is further fueling the market expansion.
SWOT Analysis
Strength: Allergy immunotherapy can help treat the root cause of allergies and provide long term relief. It makes the immune system less sensitive to certain allergens over time.
Weakness: Allergy immunotherapy requires long term commitment as treatment involves regularly receiving injections or sublingual drops/tablets over a period of 3-5 years. It also carries a small risk of adverse reactions.
Opportunity: Growing prevalence of allergic diseases globally due to changing environmental factors and lifestyle changes is increasing the patient base for allergy immunotherapy. Rapid adoption of sublingual immunotherapy tablets and drops also provides new opportunities due to ease of administration.
Threats: Stringent regulatory guidelines for the approval of new products may delay product launches. Intense competition from existing and emerging players can erode market share.
Key Takeaways
The global allergy immunotherapy market is expected to witness high growth over the forecast period driven by increasing cases of allergic rhinitis and asthma.
Regionally, North America is likely to dominate the market through 2030 aided by the presence of major players and availability of advanced treatment options. Europe is also anticipated to account for a significant revenue share owing to rising healthcare expenditure, high awareness and availability of innovative products.
Key players operating in the allergy immunotherapy market are ALK, Stallergenes Greer, HAL Allergy Group, DBV Technologies, Aimmune Therapeutics and others. These players are involved in expanding their product portfolios and geographic footprint through strategic partnerships and acquisitions. For instance, in 2021, ALK acquired all allergy immunotherapy businesses from Allergopharma to strengthen its product offerings in Europe.
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