Allergy Immunotherapy market information, by allergy type (allergic rhinitis, allergic asthma, peanut allergy, cat allergy, and other allergies), by treatment (Subcutaneous Immunotherapy (SCIT), Sublingual Immunotherapy, and Specific Immunotherapy (SIT)) – global forecast till 2023
According to a recent study published by the Market Research Future analysts, the global allergy immunotherapy market is growing at a double digit growth rate; mainly due to launch of the new sublingual immunotherapies in emerging economies, introduction of several allergen immunotherapy tablets (AITs) by major players, increase in risk factors causing allergies, rise in the screening rate for allergies, and current reimbursement scenario.
The Global Allergy Immunotherapy Market was around USD 2,100.0 million in 2016 and is expected to reach USD 4,324.7 million by 2023 which is a projected CAGR of 10.85%
On the other hand, the allergy sector is unfortunately underrated and neglected in the context of global medical sector. According to the reports, Europe, being the largest market for allergy immunotherapy has 150 million patients suffering from chronic allergic diseases. Out of this patient population, half of them are underdiagnosed or poorly managed due to a lack of awareness and shortage of medical specialists. That being said, this scenario is changing with time.
There has been an increase in screening for allergens due to rising income, government initiatives for screening, increasing penetration of diagnostic and healthcare etc. Availability of easy diagnostic kits for testing allergies and the serious nature of allergic reactions has led to the growth of market. Allergic reaction are a medical emergency. The reimbursement for medical emergencies is higher due to their high life threatening nature which is expected to drive the future market for allergy immunotherapy.
Global Allergy Immunotherapy Market – Competitive Analysis
There are large number of companies involved in the development of the drugs and therapies for the allergy which are now being used in majority part of the developed countries. Global market for allergy immunotherapy is majorly dominated by six companies namely ALK-Abelló A/S, Stallergenes Greer, HAL Allergy Group, Allergy Therapeutics, Merck Group, and others. ALK-Abello taking about 38%, and Stallergenes Greer capturing 23%, these two companies hold more than half the global market for allergy immunotherapy.
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ALK-Abelló A/S offers allergy immunotherapy products in the form of injections, sublingual drops and sublingual tablets. In January 2017, the company has acquired the operating assets in Allergy Laboratory of Oklahoma Inc., and Crystal Labs LLC. Back in 2015, the company took over the allergy immunotherapy activities of its former distributor in Turkey, Albio Allerji Ürünleri Ith. Ve Tic. Ltd. Sti. (Albio).
Another big player, Stallergenes Greer was form in 2015 by the union of two companies Stallergenes, and Greer. The company has adapted strategy of mergers and acquisitions for its growth in the allergy immunotherapy market. It provides both sublingual and subcutaneous immunotherapies. Besides that, HAL Allergy is one of the leading companies in the field of allergen immunotherapy (AIT).
Apart from these major companies, there are players like Sementis, Biomay AG, Adamis Pharmaceuticals Corporation, DBV Technologies, Circassia, and others which manufactures particular types of subcutaneous and sublingual immunotherapy majorly operate in specific regions and countries.
The global market consist of players such as ALK Abello A/S (Denmark), Allergy Therapeutics (UK), Circassia (UK), DBV Technologies (France), Stallergenes Greer (UK), Merck KGaA (Allergopharma) (Germany), and HAL Allergy Group (Netherlands) are some of the prominent players at the forefront of competition in the global allergy immunotherapy market and are profiled in MRFR Analysis report.
- Allergic Rhinitis segment accounts for the largest market share in the global Allergy Immunotherapy market while peanut allergy segment is projected to grow at a CAGR of 11.30% during the forecast period from 2017 – 2023.
- Subcutaneous Immunotherapy (SCIT) segment accounts for the largest market share in the global Allergy Immunotherapy market by treatment, this segment is expected to reach US$ 2,089.2 in 2023
- Americas market is expected to reach US$ 1,409.6 by 2023
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