The allergy immunotherapies market was valued at US$ 1,819.18 million in 2019 and is projected to reach US$ 4,185.89 million by 2027; it is expected to grow at a CAGR of 11.1% from 2020 to 2027.
The report highlights trends prevailing in the market, and the drivers and restraints pertaining to the market growth.
Allergy immunotherapy, also called desensitization or hypo-sensitization, is a medical treatment focused on several types of allergies. There is a growth in the prevalence of allergies, and conventional treatment interventions, such as pharmacotherapy, have often been found incompetent. Consequently, allergy immunotherapy is growing popularity for curing several types of allergies by increasing immunological tolerance and changing the course of the disease. The allergy immunotherapies market is expected to grow owing to key driving factors such as the increasing prevalence of allergic disorders and technological advancements in sublingual dosage formulations. However, drawbacks associated with the use of allergy immunotherapies and regulatory variations across regions is likely to hamper the growth of the market during the forecast period.
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Market Insights
Growing Prevalence of Allergic Disorders
Allergic disorders are the most common problems addressed by primary care physicians and pediatricians; more than 25% of the population in developed countries suffers from allergies. Allergies encompass a spectrum of disorders that are characterized by the development of an overactive immune response to an allergen, resulting in Th2 polarized cytokine response to the allergen and the production of an IgE antibody response.
The growing prevalence of allergic disorders demands allergy immunotherapy, which is a safe and effective treatment against allergens such as pollen, insect molds, and animals, as well as for allergic asthma. In the recent report of the National Health and Nutrition Examination Survey, 54% of the population had positive test responses to one or more allergens. According to the American Academy of Allergy, Asthma & Immunology, allergic rhinitis affects 10–30% of the population, and adverse drug reactions may affect up to 10% of the global population, and nearly 20% of hospitalized patients. As per the data of the National Center for Health Statistics survey carried out in 2018, the number of reported respiratory allergies, food allergies, and skin allergies in the past 12 months was 7.1 million, 4.8 million, and 9.2 million, respectively.
Immunotherapy is a preventive treatment for allergic reactions to substances such as house dust mites, bee venom, and grass pollens. Immunotherapy involves a gradual increase in doses of the allergen or substance to which the patient is allergic. The incremental doses of the allergen cause the immune system to become less sensitive to the substance, probably by inducing the production of a “blocking” antibody; this lowers the allergic symptoms when the substance is encountered in the future. Immunotherapy also reduces the inflammation that characterizes asthma and rhinitis. Allergic disorders are mostly treated with immunotherapy; thus, the growing prevalence of allergic diseases drives the growth of the market
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns.
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Allergy Immunotherapies Market: Competitive Landscape and Key Developments
ALK-Abelló A/S, AIMMUNE THERAPEUTICS, INC., LETIPharma, Stallergenes Greer, HAL Allergy B.V, Anergis, DBV Technologies, Dermapharm Holding Allergy Therapeutics are among the leading companies operating in the allergy immunotherapies market.
Based on treatment, the market is segmented into subcutaneous immunotherapy (SCIT) and sublingual immunotherapy (SLIT). In 2019, the subcutaneous immunotherapy (SCIT) held the largest share in the market and was forecasted to retain its dominance until 2027. This attributes to be the most efficient and most commonly used form of allergy immunotherapy. The medicine is useful in the treatment of allergic rhinitis, asthma, and stinging insect hypersensitivity. Moreover, SCIT has been productive in the management of more than one type of allergen. Hence, the adoption of SCIT is more than SLIT.
On the other hand, sublingual immunotherapy (SLIT) is expected to witness fastest growth rate owing to factors such as SLIT is anticipated to become a vital alternative for patients who cannot receive allergy shots. It is expected that liquid formulation would also be allowed for therapeutic use in the future. This would augment the increase of the SLIT segment in the forecasted period.
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