New York, October 06, 2021 – Reports and Data has published its latest report titled “Allergy Immunotherapy Market Share & Trends Analysis Report by Type of Immunotherapy (Subcutaneous Immunotherapy (SCIT), Sublingual Immunotherapy (SLIT), Others), by Allergy Type (Allergic Rhinitis, Asthma, Food, Others), by Region, Competitive Strategies and Segment Forecasts, 2020-2028”.
Rising investments on R&D activities for development of novel therapies, growing incidence of allergic disorders, and availability of cost-effective solutions are some key factors driving market growth
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According to Reports and Data, the global allergy immunotherapy market size was USD 2.27 billion in 2020 and is expected to reach USD 5.12 billion in 2028 and register a revenue CAGR of 10.5% during the forecast period, 2021-2028.
Drivers, Restraints, and Opportunities
Allergy immunotherapy is a treatment that prevents allergic reactions caused by house dust mites, food, grass pollen, and bee venom. Immunotherapy involves allergy shots, Sublingual Immunotherapy (SLIT), and medications (such as decongestants and antihistamines) to treat different allergies. According to the European Academy of Allergy and Clinical Immunology, 1 billion individuals worldwide suffer from allergic disorders.
Ongoing R&D activities and private and government investments in the healthcare industry for the introduction of novel therapies to treat complex allergies is expected to positively impact revenue growth of the market over the forecast period.
In addition, growing awareness regarding allergy immunotherapy, increase in public awareness regarding regular medical check-up, and rise in healthcare expenditure are some other key factors contributing to the revenue growth of the market.
However, presence of astringent tablets, high medical cost and side-effects of allergy immunotherapy treatments (such as sneezing, nasal congestion, watery eyes, hives, rashes) are some major factor expected to restrain global allergy immunotherapy market revenue growth over the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
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Subcutaneous Immunotherapy (SCIT) Type to Account for Largest Revenue Share:
Subcutaneous immunotherapy (SCIT) segment is expected to account for largest revenue share in the global market over the forecast period attributed to availability of allergy shots from pharmacies, surging clinical R&D investments along with the provision of reimbursements and government favorable policies.
Allergic Rhinitis Segment to Dominate Other Allergy Type Segment:
Allergic rhinitis segment is expected to dominate other allergy type segment over the forecast period attributed to increasing prevalence of allergic rhinitis or pollinosis. According to the American Academy of Allergy, Asthma, and Immunology (AAAAI), allergic rhinitis affects about 7.8% of Americans aged 18 and up. Pollinosis affects over 30% of the world’s population each year. As a result, rising infection rates and the adoption of improved treatment modalities are some factors expected to further drive revenue growth of this segment.
North America to Account for a Significantly Large Revenue Share:
North America is expected to account for a significantly large revenue share over the forecast period owing to advanced healthcare system that makes accessing immunotherapy much easier. According to statistics, almost 50 million Americans suffer from allergies, with approximately 25 million suffering from respiratory allergies. Almost 10 million have allergic asthma, among the people suffering from respiratory allergies.
Asia Pacific to Lead in Terms of Revenue CAGR:
Asia Pacific market revenue is expected to expand at a robust revenue CAGR over the forecast period attributed to growing incidence of allergies, rapid urbanization and rising technological advancements in medical treatments. In addition, private and government investments for availability of basic health technologies and drugs for the treatment of different types of allergies especially in emerging economies namely India and China drive revenue growth of the APAC market.
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Major Companies in the Market Include:
- Aimmune Therapeutics
- Hollister Allergy
- LETIPharma, Merck KGaA (Allergopharma)
- Stallergenes Green
- Allergy Therapeutics PLC
- HAL Allergy Group
- Biomay AG
For the purpose of this report, Reports and Data has segmented the global allergy immunotherapy market on the type of immunotherapy, allergy type, and region:
Type of Immunotherapy Outlook (Revenue, USD Billion; 2018-2028)
- Subcutaneous Immunotherapy (SCIT)
- Sublingual Immunotherapy (SLIT)
Allergy Type Outlook (Revenue, USD Billion; 2018-2028)
- Allergic Rhinitis
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
- The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
- Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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